Santa rally looks unlikely as FTSE loses ground on very light volumes December 19, 2011 BANKS dragged the FTSE 100 lower in extremely light trade yesterday after the British government estimated the cost to banks of reforming the UK banking system could be as much as £8bn. London’s blue chip index was down 22.35 points, or 0.4 per cent, at 5,364.99, with volumes at just 67 per cent of their [...]
Looking at 2011 to show you the money in 2012 December 19, 2011 IN TRADING, as in much of life, there exists a delicate balance between diving headfirst into the future and poring over every historical detail before acting. The former risks ignorance, with your head stuck in the sand, while the latter can result in the repetition of past mistakes and a failure to seize the day. [...]
EQUITY GAINS RELIANT ON EURO-DOLLAR December 19, 2011 WE’RE now into the last trading week before the Christmas break. Traders and investors will be hoping for less volatility following recent market turmoil. After all, they won’t want their long Christmas lunches interrupted by desperate calls from the office. It hasn’t been the best year for long-only equity investors, especially those who have followed [...]
No chance of a Christmas rest as markets stay under pressure December 18, 2011 AFTER failing to break above resistance at 5,600 (the 61.8 per cent Fibonacci Retracement of this year’s May-to-August sell-off) last week, the FTSE100 pulled back sharply. Sentiment turned negative following another botched EU summit. While the UK has been labelled the villain for vetoing treaty changes, the fact is that EU policymakers remain unwilling to [...]
WALL STREET WEEK AHEAD December 18, 2011 WITH two weeks left in the trading year, the Eurozone debt crisis will remain the primary impediment to pushing the S&P 500 index into positive territory for 2011. Uncertainty over progress in the region, along with the potential for credit rating downgrades on Eurozone countries, have kept investors on edge and market volatility high. Even [...]
Port out, starboard home for yachting December 18, 2011 AS LEHMAN Brothers was filing for bankruptcy in September of 2008, Stephen White was sitting in Monaco on the back of Bad Girl, one of the most expensive superyachts in the world, owned by a top New York financier. White was then its highly respected captain. The financier, who had predicted the financial crisis, was [...]
SEIS’s beauty is in the eye of its beholder December 18, 2011 I WAS disappointed to read the criticism the finance industry levied at the new Seed Enterprise Investment Scheme (SEIS). For example, an article in this paper concluded: “The SEIS is a gimmick and will not be particularly fruitful for investors or the economy.” The critics highlight the risk of investing in start-ups. Of course, the [...]
Thomas well-cooked December 18, 2011 THOMAS Cook, the purveyors of package holidays, led the way in the last century in opening up the world to those whose parents would never have thought of leaving the country. No longer at the vanguard, the company is now unfashionable and anachronistic in a world of cheap airlines and online deals. Investors are turning [...]
THE WEEK AHEAD December 18, 2011 COMPANY NEWS ● HMV announces its interim results today. ● Carnival will announce its quarterly earnings report tomorrow. The world’s largest cruise ship operator will be hoping to experience smooth sailing into the new year. ● Sable Mining Africa will announce its interim results on Friday. Located in sub-Saharan Africa, the company is looking to [...]
THE TIPSTER December 18, 2011 THOSE thinking of buying gold jewellery for a loved one this Christmas could consider buying gold contracts instead, given the dramatic collapse in recent days. Gold fell as much as $190 since the 1 December level of $1,750, and currently trades $320 lower than the heights hit in September. Use $1,570-$1,600 as a buying opportunity [...]