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 [...]
European fears drag FTSE down January 10, 2011 BRITAIN’S top share index closed lower yesterday hurt by banks, on renewed concerns over the Eurozone sovereign debt crisis, and miners dented by weaker metals prices and concerns over the impact of floods in Australia. But Smith & Nephew, Europe’s largest maker of replacement knees and hips, jumped to the top of the blue-chip leaderboard, [...]
US recovers losses after early jitters January 10, 2011 US stocks regained most of their early losses in light volume and ended slightly lower yesterday as prospects for strong earnings helped counter fears Portugal would be forced into a bailout. Investors say the market’s upward trend remains intact, but the S&P’s third straight session of declines suggests momentum has stalled. Traders also cited the [...]
The monster that keeps on coming: debt worry is back January 10, 2011 LIKE the Terminator, it is a villain that won’t go away. Despite a torrent of invective, and a €750bn bailout fund, the sovereign debt monster keeps coming back. Yesterday, yields on Portuguese and Spanish sovereign debt hit their highest levels in the history of the euro, at 7.17 per cent and 5.57 per cent respectively [...]
The odds on volatility shorten January 10, 2011 CFD MARKET STRATEGIST, GFT AFTER a strong start to the New Year, equities began to flag at the end of last week. Wednesday’s blow-out ADP employment numbers were largely ignored as investors held off for Friday’s non-farm payrolls. These proved to be a disappointment, despite upward revisions to the two preceding months. Apart from the [...]
THE TIPSTER January 10, 2011 THE share price of Tullow Oil continues to eye the £14 mark, a move that would take the stock to fresh all-time highs. Buoyant crude prices are doubtless helping the sector as a whole but with some recent positive drilling updates having also been seen, the company is certainly starting the new year on the [...]
So much for the knowledge economy – industry is back January 9, 2011 MAKING things had been thought to have gone out of fashion not that long ago. As the proportion of output and number of jobs devoted to manufacturing and heavy industry in most Western economies seemed to be on a relentless decline, many commentators began talking about “post-industrial societies”, and politicians about “the knowledge economy”. How [...]
THE WEEK AHEAD January 9, 2011 COMPANY NEWS ● WM Morrison release its Christmas trading update today. ● Tomorrow the US National Commission on the BP Deepwater Horizon incident release their final report on the causes of the Gulf of Mexico oil spill. ● Marks & Spencer, the iconic British department store, will publish its third quarter interim management statement tomorrow. ● Supermarket [...]
THE TIPSTER January 9, 2011 IT WAS a tough week for mining stocks, which were hit by the flooding in Australia as well as falling copper prices. Fresnillo was also affected by a dip in silver prices and continued its losses for the week on Friday touching lows of 1,517p. The stock had been on an upward trend since August, [...]
WALL STREET WEEK AHEAD January 9, 2011 Investors head into this week on the defensive as the potential for US equity gains could be limited even if earnings begin on a strong note. The early fourth-quarter results will set the tone. Any weakness will give traders a reason to pull back from the rally of recent weeks, which stalled on Friday on [...]