CHINA MAY NOT SAVE THE WORLD AGAIN AS MACRO DATA CONTINUES TO FADE May 21, 2012 SUNDAY night, as currency markets were preparing for yet another desultory opening of the week’s trade, marked by yet more stress in the Eurozone and a seemingly perfunctory statement from the G8 which was long on platitudes and short on any concrete policy measures, risk currencies did something unexpected – they rallied. Despite the gloom [...]
THE TIPSTER | ASOS hoping for a change of look May 21, 2012 ASOS took something of a beating when it released its trading statement last month, dropping 17 per cent. The hitherto-relentless growth in sales was revealed to have slowed somewhat, even though international sales continued to show excellent growth. ASOS has become a slave to its own excellent performance, and it will need a strong showing [...]
Markets defriend Facebook again May 21, 2012 AT the depths of its slump, Facebook yesterday fell by as much as 20 per cent from the highest print since Friday’s IPO. And it was not just Facebook that took a hit. Having first set their sights on the social network, markets then turned their ire on the rest of the publicly-listed Internet 2.0 [...]
Analyst picks for 21 May 2012 May 21, 2012 CURRENCY STRATEGIST JOEL KRUGER My pick: Looking to buy dollar-yen Expertise: Technical analysis Average time frame of trades: 1 day to 1 week This is a market in the process of carving a significant longer-term bottom, after posting record lows in 2011 by ¥75.50. As such, the latest pullback from yearly highs by ¥84.20 is [...]
Two days to go: Buy your tickets to City A.M.’s trading conference May 21, 2012 Q What is your trading background? A I studied economics and maths at university, and then worked in the research department of Australia’s Central Bank. I moved into investment banking, initially running a derivatives desk. I learned about macro-trading and headed a proprietary trading operation. In the mid-1990s, I ran a hedge fund in Bermuda [...]
The global boom in commodities is a long term story May 21, 2012 But there will be plenty of risks and challenges along the way INVESTING in natural resources offers the potential for high returns for investors, but risks are ever present. Both the demand and supply sides need to be assessed. What are the main challenges for resource companies at this moment and how best should the [...]
BEARS GAINING GROUND AS GREECE PUSHES FTSE SLIDE May 21, 2012 CHIEF MARKET STRATEGIST THE impending arrival of Facebook into global markets did little to shore up optimism last week, as markets tracked relentlessly lower for the entire week. As with the preceding week, Greece remained the centre of attention, dragging Spain and Italy into its mire. Better German GDP figures provided only the briefest relief [...]
FOLLOWING THE PROFESSIONALS May 21, 2012 Though the large commodities funds can be taking position sizes in the hundreds of millions, spread betting and contracts for difference can allow the retail investor to take positions on commodities and still see returns. Taking a position on gold bullion would usually take a huge amount of capital to take advantage of a $10 [...]
LONDON WEEK AHEAD May 20, 2012 GIVEN property developer British Land’s significant presence in the City, its full-year results will be closely watched this morning for signs of how the Eurozone crisis is hitting the company’s retail lettings. Budget airline Ryanair will also release its full-year results, as will outsourcing group Mitie. The spotlight will turn to the UK high street [...]
WALL ST WEEK AHEAD May 20, 2012 NORMALLY a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent US economic [...]