Eurozone volatility will keep unsettling investors May 16, 2010 IT’S A DIFFICULT one to call this morning; after hitting a two-week closing high on Thursday, the FTSE promptly dumped 171 points on Friday. Both moves were attributable to the Eurozone, and that volatility will no doubt remain with us for now as the debt crisis – and the future of the euro itself no [...]
Don’t forget about volatile silver: it is a decent alternative to gold May 16, 2010 AS ONE might have expected, renewed risk aversion and fears about sovereign debt have sent the price of gold sky high. The precious metal hit a record high last week of $1,242.70 as investors scrambled for perceived safe havens. But with all the attention lavished on gold, the recent strength of silver has gone remarkably [...]
Bad luck hits Ladbrokes as revenues fall May 16, 2010 YOU would think that with this summer’s packed sporting calendar bookmakers would be rubbing their hands together in glee at the prospect of extra wagers on who will win the World Cup or how many goals England will score. But before spread betters try to capitalise on a summer boost for the bookies, it’s worth [...]
THE TIPSTER May 16, 2010 SHARES in Tullett Prebon plunged 12 per cent last Thursday following the announcement that the discussions with a third party about a possible takeover had been terminated. The shares have fallen well below their 200, 100 and 50-day moving averages and currently trade just above their Fibonacci support, around 306p. A break through 300p could [...]
SPREAD BET GURU May 16, 2010 MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, why is a huge budget deficit a problem for the equity markets? A. Spiralling deficits from several countries within the Eurozone and the UK have been one of the main drivers of equity weakness over the past few weeks. Stock traders tend to think about what is coming next [...]
FTSE hits two week high on stronger metal prices, but sentiment is fragile May 13, 2010 BRITAIN’S top stock index hit a two-week closing high yesterday as miners gained, tracking stronger metals prices, but persistent concerns about euro zone debt problems prompted investors to stay cautious. The FTSE 100 ended up 50.28 points, or 0.9 per cent, at 5,433.73, the highest close since 30 April. The blue chip index has gained [...]
Wall St plunges as fears of a fresh slump weigh May 13, 2010 US stocks fell yesterday as downbeat comments on the economy from tech company Cisco Systems and retail chain Kohl’s cast doubt on the strength of the US recovery. Cisco’s warnings about a still weak labour market and Kohl’s saying it was unconvinced a recovery was at hand underscored the downbeat mood among investors alreadly rattled [...]
What Clegg and Cameron will mean for your finances May 13, 2010 WHEN David Cameron and Nick Clegg stepped into 10 Downing Street together on Wednesday evening, it heralded a new era in British politics and a strong commitment to tackle Britain’s public finances. Unfortunately for those keeping a close eye on their money, their plans to get the country’s debts in order are going to have [...]
PERSONAL FINANCE NEWS May 13, 2010 POST OFFICE HAS NEW GROWTH BOND The Post Office has just launched a new growth bond, which offers one-, two- and three-year terms and with rates up to 4.10 per cent AER. The Growth Bond Issue 12 has a minimum opening deposit of £500 and a maximum of £1m. But additional deposits aren’t allowed and [...]
Kings of the pension world May 13, 2010 WHEN two people go into business together there’s always the potential that rivalry or a squabble could tear the whole project apart – just think of the Ambani brothers’ public spat in India. But in contrast to this are Robert Gardner and Dawid Konotey-Ahulu, the co-founders of Redington, an independent pensions advisory firm. Not only [...]