Wall St gets boost from banking stocks January 12, 2011 US stocks ended solidly higher yesterday after European debt fears eased and sparked a broad advance, led by banks and commodity-related shares. Investors expect further flows into equities on speculation the economy will strengthen. About seven stocks rose for every three that fell on the New York Stock Exchange. Sectors typically helped by rising inflation, [...]
Make sure you aren’t paying too much: get your tax return right January 12, 2011 IT’S THAT time of year again. We all try to pretend it’s not happening, but the reminder adverts have been slapped across the tube billboards for weeks now. So, at some point over the next three weeks, we are going to have to sit down and fill out our tax return. Many say the misery [...]
TOP RISERS AND FALLERS January 12, 2011 Miners and banks drove the FTSE up to 6,051 yesterday as a successful debt issue in Portugal reassured investors. Vedanta and Eurasian Natural Resources both benefitted from analyst upgrades by Deutsche Bank. A referendum in Kazakhstan on the president’s rule also helped. National Grid, GKN and J Sainsbury all dropped back. Eurasian Natural Resources – [...]
Young, hopeful and about to start boosting growth rates January 12, 2011 FOR MUCH of the last two decades, the Chinese economy has astonished investors and worried politicians. Growth of an average of 9.3 per cent has been driven by an astonishing bout of domestic investment. But it has also been helped on by an immense “demographic dividend”, engineered by the country’s one child policy. But with [...]
FUND MANAGEMENT NEWS January 12, 2011 NEW MERGER ARBITRAGE FUND PineBridge investments has launched a new merger arbitrage fund designed to profit from investing in publicly announced merger and acquisition transactions. The UCITS III compliant fund is managed by Lan Cai, who has 15 years of experience in investing in equities and derivatives. Ms Cai has managed PineBridge’s merger arbitrage strategy [...]
Banks hoist FTSE back above 6,000 after a losing streak January 11, 2011 BANKS, lifted by upbeat broker comment, helped hoist Britain’s top share index back above the 6,000 level yesterday as investors shrugged off Eurozone debt worries for the time being. The FTSE 100 index closed up 57.73 points, or 1 per cent, at 6,014.03, snapping a three-day losing streak. Banks were the standout gainers after falls [...]
Energy shares help drive Wall St higher January 11, 2011 ENERGY shares helped the Dow and S&P 500 end a three-day losing streak yesterday, even as investors worried rising fuel costs will undercut economic growth. Earnings reports from smaller companies, including homebuilder Lennar and store chain Sears Holdings, also supported stocks, but volume was low for a second day, raising questions about the sustainability of [...]
Changing the face of retail investment January 11, 2011 ON 1 JANUARY, 2013, the Financial Service Authority’s new rules on retail investment products come into effect – the Retail Distribution Review (RDR). Hector Sants, chief executive officer of the FSA, argues that badly sold investments cost consumers between £400m and £600m per year. The review is expected to cost around £1.5bn over five years [...]
TOP RISES AND FALLERS January 11, 2011 BANKS, miners and energy firms did well yesterday as fears about European sovereign debt receded once more and as many brokerages and banks upgraded their recommendations. ARM holdings won the day, however, on the back of takeover rumours. Smith & Nephew, Marks & Spencers and Capital Shopping Centres all fell back. ARM holdings – 6.99 per cent Rumours [...]
Real unappreciative – Brazil pulls out the plug January 11, 2011 SINCE last summer, when the Federal Reserve turned back on the liquidity taps, the flow has been largely to developing economies. Rather like financial bathtubs, popular emerging markets in South America, Asia and even Africa have been attracting vast amounts of frothy hot money, and developing world currencies have appreciated immensely. With the money still [...]