Shopping to bear fruit for China investors July 20, 2010 ONCE seen as the saviour of the global economy, the markets are now having second thoughts about China, causing its stock market to fall more than 20 per cent this year. But could this be an opportunity to buy? Valuations are looking compelling, says Doug Turnbull, fund manager of the Neptune China Income fund. Chinese [...]
More to Russia than gas July 20, 2010 FOR years, investment in Russia has meant little more than investment in commodities and energy. And while those sectors still make up a huge proportion of the country’s wealth, those trying to target high-return emerging market growth in Russia should steer clear of the usual country wide benchmarks. Renaissance Capital’s Karol Chrystowski says: “Most of [...]
FROM CUSPS OF CHANGE TO BONDS July 20, 2010 MANAGING DIRECTOR, ARTEMIS CAUGHT between corporate news that is good and macroeconomic news that is bad (or, rather, not as good as it was), investors are understandably unsure. A “flight to safety” is still the default for investors – and that’s bad for equities. What, we wonder, should equity investors pay for £1 of future [...]
FUND MANAGEMENT NEWS July 20, 2010 JEYES HIRES SEI AS FIDUCIARY MANAGER Household cleaning product manufacturer Jeyes has this week appointed SEI as fiduciary manager to the £22m Jeyes pension fund and the £2.6m Jeyes Supplementary Pension Scheme. SEI’s Institutional group is the largest global provider of fiduciary management services and currently has over 500 fiduciary management clients. Tim Cave, chairman [...]
FTSE knocked for fifth day as US results hit confidence July 20, 2010 BRITAIN’S top share index ended lower yesterday for a fifth straight session as generally disappointing US results hurt investor sentiment, offsetting strong gains from mining stocks buoyed by firmer metals prices. The FTSE 100 closed down 8.82 points, or 0.2 per cent, at 5,139.46, having fallen 0.2 per cent on Monday. TELECOMS HIT BY BUDGET [...]
US shares buoyed by Goldman stock rise July 20, 2010 US stocks rose for a second consecutive day yesterday, led by gains in shares of Goldman Sachs and strength in beaten-down homebuilders and raw materials companies. Goldman Sachs Group rose 2.2 per cent as buyers materialised after an early selloff on news the investment bank’s quarterly earnings tumbled 82 per cent, steeper than forecast. “Most [...]
Pressure from the bottom line will make firms female-friendly July 20, 2010 A COUPLE of weeks ago I was told a story about a law firm Christmas party. The senior partners took part in a game where pictures of their children were projected onto a screen, and they were asked to identify the cute faces. Presumably this was meant to show them to be rounded human beings, [...]
Despite its progress, BP is now a high-risk bet July 19, 2010 WITH BP’s temporary capping of the leaking Macondo well last week, investors piled back into the stock. Fidelity’s star fund manager Anthony Bolton declared that investors have “a classic once in-alifetime opportunity to buy BP” and even after the announcement on Sunday that gas is now leaking from the ocean floor, most investment notes yesterday [...]
SCALE BACK EXPOSURE ON THE BOUNCE July 19, 2010 CFD MARKET STRATEGIST, GFT This is a big week for the markets with traders forced to consider the potential effects of a number of major events. Looking at the US, we get deeper into the second quarter earnings season with over 500 companies to report – up from less than 100 last week. The interpretation [...]
No blue skies for the Nikkei stock market this summer July 19, 2010 DESPITE the bearish fundamentals plaguing the Japanese currency, the yen has proved remarkably resilient over recent months, boosted first by safe-haven inflows as a consequence of the European sovereign debt crisis and then from the deterioration in the US recovery. This strength in the yen has had a detrimental effect on the health of Japanese [...]