THE TIPSTER January 25, 2011 THE pound took something of a pummelling off the back of the surprise UK GDP data although much of the recent upside came from the supposition that the Bank of England would hike rates to rein in inflation – regardless of the economic growth implications. Obviously today’s Monetary Policy Committee meeting minutes will make for [...]
FOREX ANALYST PICKS January 25, 2011 FOREX STRATEGIST JOEL KRUGER My pick: Buy US dollar-Canadian dollar at Ca$0.9900 Expertise: Technical analysis Average time frame of trades: 1 to 6 weeks The daily studies are starting to look a little stretched and this is in conjunction with longer-term cyclical studies. These signs warn of a major base forming. This leaves us looking [...]
Consultation on UK’s M&A regime means big changes January 25, 2011 THE government is about to launch a consultation on major reforms of Britain’s competition (antitrust) regime. The competition rules won’t be changed, but rather the institutions and procedures by which they are administered. The implications for British business and finance will nonetheless be far-reaching. Three key elements of the likely proposals are worth highlighting. First, [...]
Dragons eating up a hoard of black gold January 24, 2011 THE Chinese dragon continues to eat up fuel. Chinese demand for oil hit another record high in December, climbing to 9.618m barrels a day – an annualised increase of 19.9 per cent. At least partly as a result, the price of crude oil has climbed up significantly over the last few months, with Brent crude [...]
THE FLOW OF HOT MONEY CONTINUES January 24, 2011 CFD MARKET STRATEGIST, GFT INFLATIONARY expectations are picking up across all major economies. Rising commodity prices are presenting difficulties everywhere, but are particularly problematic for developing countries. Brazil raised rates last week and warned that additional tightening was likely. Annual inflation there is just shy of 6 per cent and their latest 50 basis point [...]
Revolutionising investment advice January 24, 2011 A REVOLUTION is on the way. In the next 24 months you will hear about the biggest changes in the supply and delivery of financial advice there have probably ever been. It’s known as the Retail Distribution Review, or RDR. In a nutshell the three proposed changes on the way are: 1. Clearer differentiation between [...]
European shares lifted on the back of miners and drug firms January 24, 2011 EUROPEAN shares edged up yesterday, as heavyweight miners rose on strong metals prices and defensive drugmakers and tobacco firms gained on concerns over the impact of rising inflation on growth prospects. Gains, however, were kept in check by falls on the German DAX index, as sentiment was hit by data showing a drop in German [...]
Wall St rises led by commodities stocks January 24, 2011 WALL Street resumed its rally yesterday, led by natural resources and tech shares as investors saw stocks regaining momentum lost late last week. A share-buyback from Dow component Intel helped revive optimism, which has been reinforced by more strong profit reports. Three-quarters of the 84 S&P 500 companies that have reported results so far in [...]
The price of cocoa soars as Ivory Coast bans exports January 24, 2011 THE president-elect of the world’s biggest producer of cocoa – the Ivory Coast – banned cocoa exports for a month yesterday, causing the price to jump 7 per cent to £2,307 a tonne in early London trading, a 7.4 per cent rise from Friday’s close – the highest price in six months. The ban has [...]
THE TIPSTER January 24, 2011 THE improving risk appetite and the prospect of better yields on cash deposits threaten to create a top for precious metal prices. So the question is can gold re-test the $1,400/oz level in the near term? The current IG Markets price on spot gold is $1,350.25-$1,350.75. Kesa Electricals, the parent company of the electrical retailer [...]