China is setting the stage now for a yuan revaluation this summer April 12, 2010 THERE had been speculation that the Chinese authorities would use this weekend’s Bo’ao Forum – billed as China’s Davos – to announce a revaluation of the yuan. While observers hoping for a move were disappointed, there have been signs over recent weeks that Beijing is laying the groundwork, both in the financial markets and in [...]
Banks and energy companies push the FTSE slightly higher but miners struggle April 12, 2010 Gains from banks and energy stocks outweighed weaker miners to leave Britain’s top share index slightly higher by the close yesterday, as anxiety about debt-plagued Greece eased, supporting risk appetite. The FTSE 100 ended the day 6.67 points higher at 5,777.65, slipping back after hitting an intra-day peak since June 2008 of 5,803.71 early in [...]
New York hits 11,000 on higher earnings forecasts April 12, 2010 The Dow industrials closed above 11,000 for the first time in almost 19 months yesterday as expectations of solid first-quarter earnings spurred buying in financial, energy and industrial sectors. Even so, some investors said stock prices already reflect lofty expectations for first-quarter results, with both the Dow and the S&P 500 near 19-month highs. “People [...]
European stocks are worth a long position April 12, 2010 IN THE next few weeks we should get a better idea of how far the economic recovery has boosted profits at Europe’s largest companies as they report first quarter earnings. So far consensus estimates for earnings growth this year is a whopping 39 per cent up on last year. This week French luxury goods group [...]
US EQUITIES NEED TO SEE RISING SALES April 12, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT IT IS US earnings season again. As soon as one quarter is over, investors have to begin assimilating the next set of numbers. Traders are already poring over Alcoa’s earnings – the world’s third biggest aluminium producer unofficially heralds each quarter’s reporting season, and it announced its results last [...]
Greek rescue deal will spur markets April 11, 2010 UK and European stock markets are heading for a cautiously positive start to the week, spurred on by the news that a rescue package for Greece has been approved. GFT is quoting the FTSE 100 index to open up 10 points from Friday’s close, at a level of 5,780. The German DAX is also expected [...]
THE WEEK AHEAD April 11, 2010 AFTER a slew of central bank monetary policy decisions last week, this week is dominated by consumer-focused data. In the UK, we’ll get the British Retail Consortium’s March figures and the RICS’ house price balance for last month at midnight tomorrow. Thursday at midnight sees the release of the March Nationwide consumer confidence survey. It [...]
Pair off US banks this results season April 11, 2010 IT WAS only 18 months ago that the large-cap US banking sector looked like it was on its knees. Since then the banks have been nursed back to health. Later this week we will find out how far they are on the road to recovery. The two largest banks in the US, JP Morgan and [...]
The Tipster April 11, 2010 MINING stocks have been subject to a bit of profit-taking recently but the dips have provided spread betters with renewed buying opportunities. Mining giant Rio Tinto holds its AGM on Thursday and it has been one of the most popular miners. Capital Spreads quotes 3,952p-3,957p. Iron ore producer Ferrexpo has been one of the market’s [...]
SPREAD BET GURU April 11, 2010 JOSHUA RAYMOND MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, with the general election announced, what will the market focus on? A. British investors will keep an eye on the progress of both Labour and the Conservatives as we head closer to election day. The issue of a hung parliament is long-standing and we have already seen [...]