London breaks five days of losses on strong US earnings July 21, 2010 BRITAIN’S leading shares broke a five-day losing streak yesterday after upbeat corporate earnings from the US and positive mergers and acquisitions sentiment spurred a rebound, led by banks and commodities. The FTSE 100 closed up 75.18 points, or 1.5 per cent, at 5,214.64, having shed 2.5 per cent over the previous five sessions. UK Banks [...]
Wall St falls after dour Bernanke view July 21, 2010 FEDERAL Reserve Chairman Ben Bernanke’s dour assessment of America’s recovery hit US stocks yesterday, as the Fed chief’s comment on “unusually uncertain” economic prospects discouraged investors. Stocks sank after Bernanke acknowledged the labour market’s continued weakness while offering few specific options to stimulate lending and investment. “The market sold off because unfortunately there is no [...]
Volatility can’t keep the FTSE down for long July 21, 2010 THE UK equity market has lacked a champion of late, but analysts at UBS are taking up that mantle. They argue that the FTSE 100 will end the year at 6,250, about 1,000 points above its current level. But the road toward a higher FTSE will not be smooth. Stress test results for the European [...]
THE TIPSTER July 21, 2010 THE vacillations of euro-US dollar are never far from the headlines. And this week is no exception – the Eurozone stress test results are scheduled for tomorrow and Federal Reserve chairman Ben Bernanke is continuing his testimony today. Euro-dollar has recovered an impressive 9.5 per cent since its low of $1.1875 on 7 June. But [...]
LISTED PRODUCT NEWS July 21, 2010 RBS FREE SEMINAR ON EUROPE TONIGHT Europe has never been far from the headlines and the falls in European stock markets have garnered lots of interest from investors. RBS is holding another free seminar tonight where David Stevenson will be discussing why he feels that Europe and especially Euroland could be looking good value compared [...]
Sell safe-haven Swissie July 20, 2010 AMID the firestorm that has engulfed the world economy over the past few months, one currency has stood out more than any other as a refuge from the heat and the volatility of the markets. The Swiss franc’s perceived status as a safe-haven – first from the Eurozone sovereign debt crisis and then from the [...]
EURO RALLY IS AT RISK OF STALLING July 20, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT IN MAY, at the depth of the Eurozone crisis when the euro was losing value nearly every day, the majority of currency market analysts were convinced that the pair would go to parity or, even worse, that it would collapse altogether. Yet a mere eight weeks later, the euro has [...]
Germany is the weak link in the Eurozone July 20, 2010 ON FRIDAY, Europe’s bank stress tests are released. This comes at an interesting time for the single currency. Over the past month the euro has had an aggressive rebound, particularly against the dollar, and is now hovering close to the crucial $1.30 level. Expectations are that it will stay around this level until the results [...]
THE TIPSTER July 20, 2010 THE euro has been making up for lost ground over the past couple of weeks and has gained against both the US dollar and sterling. The pound has fallen by 5 per cent against the single currency over the past three weeks and is now back at the £0.85 area that was last seen in [...]
FOREX ANALYST PICKS July 20, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy euro-Swiss franc at SFr1.3415 Expertise: Classic technical analysis Average time frame of trades: 1 week-6 months The cross has been under intense pressure for several months, breaking to fresh record lows of SFr1.3070 ahead of the latest bounce. While the trend remains bearish, we have adopted a constructive [...]