FOREX ANALYST PICKS August 23, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Long dollar-yen and euro-dollar. Short euro-Swiss franc Expertise: Fundamental analysis with risk management Average time frame of trades: 1 day to 1 week We are facing huge fundamental themes that could dramatically alter the course of the markets, depending upon developments in the coming weeks. The setups I’m looking [...]
FTSE 100 ends higher after defensives lead a relief rally August 22, 2011 BRITISH blue-chip stocks rose to buck a three-session slide as dividend-yield hunters ploughed back into beaten-down defensive stocks, albeit in low volume, volatile trade that could have further to run, traders said. Vodafone, Royal Dutch Shell and GlaxoSmithKline added most points to the FTSE 100 index yesterday as the recent fall, which took six per [...]
Bargain hunters return to market August 22, 2011 US stocks ended slightly higher yesterday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying. The market was led by large-cap techs and industrials until late in the session when a rally faded. Banks struggled, with Bank of America, the largest US bank, falling 7.9 per cent [...]
Gaddafi’s downfall alone will not slash oil prices August 22, 2011 WHILE there are those who will be watching the news in Libya and see it as a tipping point for oil prices, any substantial cheapness will not come straight away. Events in Tripoli triggered some reactionary selling of Brent crude yesterday, but the road to a return of Libyan oil could be a long one. [...]
LIBYA OFFERS SUPPORT, BUT RISKS REMAIN August 22, 2011 GLOBAL equity markets bounced yesterday offering much-needed relief for bruised investors. After last week’s dismal performance, the major indices were technically oversold. Consequently, traders took the news that hostilities in Libya could be about to end as an excuse to pile back into stocks. But despite the rally, it’s unlikely that we’ve seen the market [...]
Negative tone prevails as markets face testing week August 21, 2011 AFTER another volatile week, anyone hoping that a belated summer lull might be on the way, perhaps to lick wounds and assess trading strategies, will be disappointed for now. This morning’s opening call is for another one per cent drop on the UK stock market, tumbling back below the 5,000 level, and with alarm bells [...]
WALL STREET WEEK AHEAD August 21, 2011 THE historic swings in the US stock market over the past two weeks have investors struggling to figure out where equities may be headed next. Only one thing seems clear: The volatility is far from over. A lack of progress on some of the economy’s biggest issues — from Europe’s sovereign debt to increasing signs [...]
Looking past the European short-selling smokescreen August 21, 2011 IN a bid to stop the rout of their respective banking sectors, France, Italy, Belgium and Spain last week put in place controls on the short selling of a number of banking stocks. The ban is for 15 days, meaning that it will expire on 26 August. Spain has also gone one step further, explicitly [...]
THE WEEK AHEAD in association with GFT August 21, 2011 COMPANY NEWS ● Petrofac posts its interim results today. With oil prices dropping from their recent highs coupled with a market slump, oil companies have taken a bit of a knock of late, with their interim reports reflecting this downturn. Petrofac will be hoping that its results buck this trend. ● Another energy industry player, [...]
THE TIPSTER August 21, 2011 HAVING hit dizzying levels back at the end of 2008, the VIX – or fear index – is back in focus once again. Rampant volatility pushes this index higher and there’s been no shortage of that of late – some may have thought we’d seen the end of it but the big losses at the [...]