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 [...]
THE AUSSIE, FX DARLING NO MORE January 11, 2011 DIRECTOR OF CURRENCY RESEARCH, GFT AFTER hitting a post-float high of Au$1.0250 to close out the year, the Aussie has suddenly lost its lustre, tumbling through the Au$0.9900 figure at the start of this week’s trade as the unit carved out an ugly double top formation on the charts. The devastating floods that have affected [...]
Tokyo to the EU rescue… but, only for a day or two January 11, 2011 THE cure for obsession, they say, is getting a new one. And that has certainly been true of the bond market’s approach to debt-ridden Eurozone countries. The market’s focus has swung like a searchlight from troubled country to country, sending the euro plummeting until its finance ministers ask for a bailout. On Monday, the market’s [...]
THE TIPSTER January 11, 2011 EURO-sterling has been under relentless pressure since the turn of the year, dropping over 3 per cent in the first week of the New Year. Support was found yesterday around £0.8290, but the bounce thus far has been less than convincing and the support level looks set for a re-test. If support at £0.8290 fails, [...]
FOREX ANALYST PICKS January 11, 2011 FOREX STRATEGIST JOEL KRUGER My pick: Long euro-Swiss franc at SFr1.2530 Expertise: Technical analysis Average time frame of trades: 1 to 6 weeks The market has come back under pressure since breaking back below SFr1.3000, with the latest declines resulting in a drop to record lows. But given the intensity of the latest drop, we [...]