FTSE extends gains as talk of takeovers boosts the market July 5, 2011 THE FTSE 100 rose for an eighth straight trading day yesterday, as earnings hopes lifted Tullow Oil and bid talk boosted Reckitt Benckiser. Tullow, up 3.8 per cent, said it expected to post record first-half revenues as it ramped up output in Ghana and also said it was a few weeks away from completing a [...]
Wall Street pauses despite Euro fears July 5, 2011 US stocks ended a thinly traded session mostly flat yesterday as investors paused after last week’s surge, though continually light volume suggested the market could encounter more choppy trading. The Nasdaq closed higher for its sixth straight day, helped by strength in Netflix, while the Dow and the S&P 500 ended five-day streaks that marked [...]
HOW TO MAKE IT AS AN EXPAT IN THE CITY July 5, 2011 DUAL-QUALIFIED ENGLISH SOLICITOR/ GERMAN LAWYER, SCHULTZE & BRAUN FIRST TIP: LEARN THE LOCAL LANGUAGE Before you move to England for a professional career, obviously, you need to speak English. But you should be prepared for the oddities of the language and be willing to make mistakes. No doubt you’ve heard this before, but it’s worth [...]
CAREERS NEWS | IN BRIEF July 5, 2011 STUDENT DEBT TAKES 11 YEARS TO PAY OFF Crippling student debt will take 11 years on average to clear, says uSwitch research. Almost four in ten graduates (38 per cent) are putting big life decisions such as getting married or starting a family on hold because of student debt. Michael Ossei of uSwitch.com says: “The [...]
Britain cannot devalue itself into prosperity July 5, 2011 STERLING rallied yesterday following the release of PMI services index figures for June coming in at 53.9 – higher than the 53.5 widely expected. Michael van Dulken of Accendo Markets explains that sterling-dollar moved up from $1.602 to $1.6048 on the PMI services news, then carried on to a day high of $1.628 by mid-morning. [...]
NO FIREWORKS ON 4 JULY, BUT US LOOKING UP July 5, 2011 THANKS to Independence Day on 4 July, America’s week began a day late, and currencies remained in a state of suspended animation, with euro-dollar hovering around the $1.4500 level for the past 48 hours. With Greece now a distant memory (at least for the time being), the market’s attention has turned to economic matters rather [...]
Muted market reaction to the ending of QE2 July 5, 2011 AFTER months of speculation surrounding the end of the Federal Reserve’s second round of quantitative easing (QE2), Fed chairman Ben Bernanke finally announced a fortnight ago that the US central bank’s program of buying Treasuries on a massive scale was going to draw to a close. But, despite the forex markets being overshadowed by the [...]
THE TIPSTER July 5, 2011 THE Canadian loonie has come off a 3 per cent gain on the US dollar, as the suspicion from traders is that the currency has become overbought. Another factor is that the loonie isn’t exactly a safe haven currency, and after comments from rating agency S&P about Greek default, traders fled to the safer US [...]
FOREX ANALYST PICKS July 5, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Remain short sterling-dollar and dollar-Swiss franc Expertise: Fundamental analysis with risk management Average time frame of trades: 1 day to 1 week My mix of trades from last week have whittled down. The short kiwi dollar-dollar was stopped and offset by the long Canadian dollar-yen from ¥83. I’m still [...]
Buoyant integrated oil stocks power FTSE past 6,000 mark July 4, 2011 INTEGRATED oil and property stocks helped Britain’s top shares end higher yesterday, when gains were limited by weaker banks after Standard & Poor’s warned a potential Greek debt deal would amount to a default. The FTSE 100 index rose for a seventh straight day, adding 27.78 points, or 0.5 per cent, to 6,017.54, closing above [...]