Concerns over Goldman Sachs weigh on the FTSE 100 as mining shares fall April 19, 2010 UNCERTAINTY over the fallout from fraud charges against Goldman Sachs and the grounding of flights across Europe depressed London blue chips yesterday, led by risk-sensitive banks and miners and travel firms. The FTSE 100 closed down 16.05 points, or 0.3 per cent, at 5,727.91, extending Friday’s 1.4 per cent fall. Banks were rattled as investors [...]
Stocks rise as profit hopes outweigh banking jitters April 19, 2010 US STOCKS rose yesterday as investors reassessed the potential damage of the fraud case against Goldman Sachs and earnings optimism grew. Shares of Goldman Sachs, which is expected to report substantial earnings today, reversed course to rise 1.6 per cent to $163.32. Investors said the furore over Goldman started to die down during trading, allowing [...]
Goldman Sachs shares sell-off was overdone April 18, 2010 UK AND EUROPEAN stock markets are expected to recover some of Friday’s Goldman Sachs-inspired losses on the open this morning. Whilst the markets are still digesting the implications of the SEC fraud charges, our call is that Friday’s knee-jerk sell-off was overdone – exagerrated by profit-taking following a winning streak for the Dow of six [...]
TV firms and ad agencies bounce back April 18, 2010 ALL it took was a bullish note from Goldman Sachs analysts and the European media sector went into a buying frenzy at the end of last week. ITV saw its share price rise to the highest level in two years while advertising giant WPP gained almost 4 per cent last week, taking its stock to [...]
The Tipster April 18, 2010 INVESTMENT company the Alliance Trust has been a solid performer in the FTSE 100 over the past 12 months, gaining 31 per cent in value, which should please most shareholders when its final results are announced today. It is currently trading at the upper resistance of an 18-month-old bull channel, so any pullback to the [...]
Sovereign risks mean gold retains some of its sparkle April 18, 2010 HAD you bought gold back in 2000, you would have paid around just under $300 an ounce. Even taking into account the effect of inflation, this seems an absolute bargain compared to the current price of $1,138. But this decade-long bull run in gold may be coming to an end, says Philip Klapwijk, chairman of [...]
SPREAD BET GURU April 18, 2010 MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, JP Morgan’s earnings were very good, what will this mean for the other banks? A. I take a balanced view on this. That JP Morgan announced much better earnings than the market had first anticipated, a 57 per cent rise in profits, is a good sign for the bank [...]
Demand for bank shares lifts FTSE 100 to a 22-month high April 15, 2010 THE FTSE 100 share index hit a 22-month high for the second day yesterday, as US data and earnings reports fanned hopes that a recovery in the world’s largest economy was gathering pace, with banks also buoyed by bullish broker comment. The FTSE 100 closed 28.76 points higher at 5,825.01 – its highest close since [...]
Transport shares boost Wall Street April 15, 2010 US stocks posted their sixth straight day of gains yesterday as an encouraging profit forecast from United Parcel Service (UPS) lifted transportation shares, though concerns about a rise in weekly jobless claims limited the market’s advance. Financial stocks weighed on the S&P 500 as they gave back some gains after Wednesday’s strong rally. UPS posted [...]
If you fix your mortgage now pick carefully April 15, 2010 EARLIER this week we learned that mortgage applications climbed back to pre-recession levels last month. Research from mortgage broker Countrywide showed that a growing number of Britons are now choosing fixed products rather than flexible tracker mortgages. Fixed products made up 61 per cent of applications in March – an increase of 4 per cent [...]