Land Securities and miners lead the FTSE index to gains May 18, 2011 STRONG energy stocks and miners drove Britain’s top shares higher yesterday as investors welcomed results from Land Securities. The FTSE 100 index ended up 62.49 points, or 1.1 per cent, at 5,923.49. Other London indices followed suit, with the FTSE 250 closing up 51.55 points, or 0.4 per cent at 11,887.54 and the FTSE AIM [...]
US stocks rebound on strong earnings May 18, 2011 WALL Street snapped its three-day losing streak yesterday thanks to a rebound in commodity prices and Dell’s strong earnings, but investors say stocks still face headwinds. Yesterday’s bounce gave some respite to selling that has driven the S&P 500 down nearly two per cent this month as soft economic data has put investors on the [...]
The Eurozone’s crisis isn’t holding back its most dynamic companies May 18, 2011 ALTHOUGH the slow-motion car crash of the Eurozone crisis is threatening the single currency, focusing on the monetary disaster could distract from potential income from European funds thriving from economic growth in emerging markets. The Eurozone’s troubles won’t help the UK’s aversion towards funds invested in European equities. After all, Portugal’s bailout is just another [...]
FUND MANAGEMENT NEWS May 18, 2011 JP MORGAN EXTENDS ITS OFFERING Yesterday, JP Morgan announced the extension of its offerings direct to the consumer, to include funds from Smith & Williamson. JP Morgan Asset Management has added 10 funds from Smith & Williamson, bringing the total number of third party funds available to investors to just over 600. The funds are: [...]
African MBAs – beating Bono at his own game May 18, 2011 GOVERNMENTS, NGOs, rock-stars and politicians of all stripes have tried to help African development. Now a wave of business schools is trying to do its bit. Henley, Edinburgh, Duke, Spain’s IESE and even Shanghai-based CEIBS have all gone into the continent with varying amounts of fanfare. In theory, they should be able to do a [...]
Commodities rock FTSE as hits lowest level since April May 17, 2011 BRITAIN’S leading share index was driven down by weakness in commodity issues and banks on concerns over global growth which countered results-driven gains by market heavyweight Vodafone. At yesterday’s close, the FTSE 100 index was off 62.69 points, or 1.1 per cent, at 5,861.00, extending its losing streak to a fifth session. It ended below [...]
US stocks drop on poor retail earnings May 17, 2011 THE Dow and the S&P 500 fell for a third day yesterday after disappointing figures from Wal-Mart and Hewlett-Packard, although a late rebound suggested investors may be looking for a short-term bounce. Both the S&P 500 and Nasdaq dipped below their 50-day moving averages, but those levels appeared to bring in buying interest. Recent weakness [...]
The European sovereign debt bomb is ticking May 17, 2011 JEAN-CLAUDE Juncker, chairman of the Eurozone’s finance ministers, said yesterday that Greece may have to ask investors to either extend the maturities of its bonds or agree to a soft restructuring. This follows on from the Greek foreign minister Dimitris Droutsas saying that the country was open to soft debt restructuring if needed. But in [...]
CABLE STANDS AT THE FOREX CROSSROADS May 17, 2011 PITY the poor Monetary Policy Committee (MPC). Nowhere in the G10 universe is inflation so virulent and growth so anaemic as in the UK economy. Yesterday’s UK CPI data printed much hotter than expected, rising at an annual rate of 4.5 per cent versus 4.2 per cent eyed. UK inflation rose by 1.0 per cent [...]
THE TIPSTER May 17, 2011 AS crude oil fell below $97 in line with other commodities, the knock on effect was a negative impact for the Canadian dollar versus the US dollar. Crude oil is Canada’s biggest export and the largest supplier of crude to the US. If crude continues in its current trend, it could prove detrimental for the [...]