When relocation becomes a nightmare August 4, 2010 ON the first day of my new job my new employer has told me that they want me to move to Birmingham. This was never mentioned in the interviews and I assumed I would be staying in London. I don’t want to move. I am single, and I feel that if I had a family [...]
FTSE closes flat as Monday’s zeal for banks wanes and energy firms recover August 3, 2010 BRITAIN’S top shares ended steady yesterday as strength in oils offset falls in banks following weaker-than-expected US data that stoked concern about the strength of the economic rebound. The FTSE 100 closed down 0.63 point at 5,396.48 following a 2.7 per cent gain on Monday to a three-month closing high. “Weak US data in the [...]
Procter & Gamble drags on Wall Street in flat day August 3, 2010 US stocks slipped yesterday as Dow component Procter & Gamble’s lacklustre results, coupled with weaker-than-estimated data on consumer spending and housing, prompted investors to exercise caution a day after the market’s two per cent rally. P&G dropped 3.4 per cent to $59.94, ranking as the top drag on the Dow industrials after the consumer goods [...]
Aussie’s hot August run August 3, 2010 IT WAS no change yesterday for the Reserve Bank of Australia, which agreed to keep the cost of borrowing on hold at 4.5 per cent for the third consecutive month. This signalled continued stabilisation in the Australian economy, which is good news for its first female prime minister Julia Gillard. The decision to hold rates [...]
TREAT RALLY IN THE POUND WITH CARE August 3, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT TO THE surprise of many market analysts, including yours truly, sterling has been on a tear lately. Not only has the pound rallied, but it has significantly outperformed the euro, gaining more than 200 pips on the continental currency over the past several weeks. So why such sudden explosive strength [...]
Go long on the rupee to target Indian growth August 3, 2010 WITH the Indian government finally adopting a standardised symbol for the rupee last month, there are ever more signs that the currency is going to become more accessible to investors. Given its persistent weakness against the dollar in recent times – out of line with other Asian currencies, as the chart on the right shows [...]
THE TIPSTER August 3, 2010 COMMODITY currencies such as the Australian dollar and the Canadian dollar have been back in vogue this week, with decent bids backed by a 10 per cent rally in the Reuters/Jefferies CRB commodity index since June. US dollar-Canadian dollar has just broken a major trendline support at Ca$1.0287 and momentum is skewed to the downside. [...]
FOREX ANALYST PICKS August 3, 2010 CURRENCY STRATEGIST ILYA SPIVAK My pick: Short euro-US dollar (pending market movement) Expertise: Global macro, classic technical analysis Average time frame of trades: 1 week-6 months Euro-dollar rallied after confirming an inverse head and shoulders in early July. Prices are poised to challenge resistance at $1.3266, the 76.4 per cent Fibonacci retracement of the 12 [...]
It’s not time to give up on the land of the free just yet August 3, 2010 THE tide has turned against the outlook for US growth. A flurry of weaker than expected data – culminating with economic growth data released last week, showing the pace of expansion had slowed from 3.7 per cent in the first quarter of the year to 2.4 per cent in the second – saw investors concerns [...]
FUND MANAGEMENT NEWS August 3, 2010 REAL ESTATE INVESTMENT INCREASES Pension funds ramped up their investments in real estate last year, the European Institutional Asset Management Survey (EIAMS) showed. At 6.6 per cent of investors’ total assets, real estate is now at an eight-year high. The survey showed that all sizes of investors increased their allocations to real estate, with medium [...]