Banks drag FTSE down as concerns over US recovery harms sentiment September 22, 2010 BRITAIN’S top shares fell yesterday, led by banks as worries over the economic recovery in the US and lack of action taken by the Federal Reserve hit sentiment, offsetting gains in miners. The FTSE 100 ended down 24.28 points or 0.4 per cent at 5,551.91, after falling 0.5 per cent on Tuesday. The US central [...]
Wall Street ends lower on major tech decliners September 22, 2010 US stocks slipped on yesterday, ending the Dow’s five-day winning streak, following Adobe’s discouraging revenue outlook and investors’ disappointment over Microsoft’s new dividend. Investors also weighed the impact of the Federal Reserve’s earlier statement, which indicated the central bank was edging closer to pumping hundreds of billions of new dollars into the sluggish economy. Adobe [...]
For accountants, qualifications are a matter of taste September 22, 2010 WHEN they get their first job, many accountants worry that they will be pigeon-holed by their qualification. ACA is seen as the City gold standard in some quarters, and those who aren’t offered it might worry that their ambition of becoming a FTSE 100 CEO will be thwarted. On the other hand, ACCA is a [...]
THESE THINGS I KNOW | TIPS FOR GETTING ON IN THE CITY September 22, 2010 HEAD OF PRESS & PUBLIC RELATIONS AT CHARLES STANLEY 1. Never, ever turn off your Blackberry either on holiday or at weekends. You do not get a day off in PR and if you turn it off you can guarantee a tsunami. 2. Always be friendly with journalists no matter where they work or what [...]
Banks and miners pull FTSE lower September 21, 2010 Britain’s leading shares faltered by yesterday’s close as investors lost their nerve ahead of news from the US Federal Reserve, with banks and miners the biggest fallers. The Fed appears set to debate pumping billions of dollars more into the sluggish US economy, but is likely to hold off any action while it takes further [...]
Fed remarks fail to boost US stocks September 21, 2010 US stocks ended flat to lower in an erratic session yesterday after the Federal Reserve inched closer to further steps designed to support the recovery. Stocks initially popped higher but gave back those gains quickly. Investors had hoped that with recent improvements in economic data, the Fed would issue a more upbeat outlook or clarify [...]
The carry trade evolves September 21, 2010 IN A world where quantitative easing remains firmly on the agenda and investors are going after any yield available, the carry trade remains alive and well. Further accommodative monetary policy in Japan has driven the resurgence of the yen carry trade – whereby investors fund higher-yielding asset purchases with low-yielding yen. Furthermore, the latest weakening [...]
aussie and swissie are good hedges September 21, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT AS WE approach the end of the year in the currency markets, perhaps the only thing traders are certain of is that we are facing a period of great uncertainty. Although the global economy appears to have dodged the second Great Depression, markets continue to be concerned about the possibility [...]
Expect to see a widening gulf in the Eurozone September 21, 2010 STERLING plunged against the euro yesterday as worse-than-expected UK deficit figures exacerbated what was already a strong rally from the single currency. Coupled with solid demand at Spanish, Greek and Irish government bond auctions, this was enough to send sterling-euro down to a three-month low, with the euro also gaining a cent against the dollar. [...]
FOREX ANALYST PICKS September 21, 2010 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short Aussie dollar-US dollar below $0.9300 Expertise: Combining fundamental and technical analysis Average time frame of trades: 1 day-1 week Taking a short sterling-dollar and long euro-dollar position last week offset my risk but the lack of a clear trend is still preventing truly sizeable moves. However, it is [...]