The Tipster March 22, 2010 WHEN chancellor Alistair Darling delivers his budget tomorrow afternoon, he is expected to confirm the government’s support for an international levy on banks. And as if the outlook couldn’t look more overcast for banks, Virgin has funding in place to buy a swathe of high street branches from RBS, which should increase the competition in [...]
CFD ANALYST PICKS March 22, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Buy US dollar index at 90.30 Expertise: Technical analysis Average time frame of trades: 5-10 days The index has been in the process of consolidating for a good portion of the year with any rallies being well capped at just over 81. However, the consolidation has been bullish and [...]
Low volatility offers opportunities to buy March 22, 2010 LOOKING at the headlines, you probably wouldn’t draw the conclusion that the financial markets are currently a sea of calm. There’s political uncertainty in both the UK and, to a lesser extent, the US. Sovereign debt risks are mounting in the developed world with the Eurozone still in focus and the UK a concern if [...]
REGULATION WILL EXCITE THE MARKETS March 22, 2010 POLITICAL issues look like dominating markets this week. This started on Sunday when President Obama’s healthcare reform was passed narrowly by the House of Representatives. In France, Nicolas Sarkozy has seen his party battered in regional elections and tomorrow we have the last budget before the UK election. Finally, there is the European summit, which [...]
London’s FTSE 100 ends down after weak oil stocks weigh on the market March 22, 2010 BRITAIN’S top share index ended slightly lower yesterday, as weakness in oil stocks outpaced firmer drugmakers, as the US House of Representatives approved a healthcare reform bill, and with miners also in demand. The FTSE 100 ended down 5.58 points, or 0.1 per cent, at 5,644.54 after a volatile session which saw the index dip [...]
Wall Street rises after healthcare bill is passed March 22, 2010 US stocks advanced yesterday, boosted by gains in the healthcare sector as passage of a bill to overhaul the system eased uncertainty for investors. The legislation was passed by the US House of Representatives late on Sunday, and while analysts have raised concerns it will pinch corporate profits, they said much of the negative impact [...]
Banking bulls ought to turn their gaze to Wall Street March 21, 2010 BANKER bashing remains a favourite political pastime – but investors have become a little more upbeat towards the sector, and for good reason. Indeed, a recent global fund mangers survey conducted by Bank of America-Merrill Lynch revealed that banking is no longer the least-liked sector, handing this rather dubious accolade over to utilities. Even the [...]
SPREAD BET GURU March 21, 2010 JOSHUA RAYMOND MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, this week chancellor Alistair Darling gives his budget. Is there likely to be much market reaction? A. The market always has the ability to move both during and at the end of a budget speech, depending on what is said. The share prices of tobacco firms, for [...]
THE TIPSTER March 21, 2010 THIS week the focus will be on Wednesday’s Budget and its political ramifications for the upcoming general election. The Labour Party will have been given a boost by last week’s encouraging public finances and Lloyds Banking Group’s announcement on Friday that it expects to turn a profit this year. But is it too little, too [...]
FTSE gains limited by the Budget March 21, 2010 EUROPEAN stock markets are headed for a positive start to the week, with the FTSE set to continue its current winning streak after closing at its highest level since June 2008 on Friday. However ahead of the pre-election Budget on Wednesday, any further gains are likely to be moderate. GFT is forecasting the UK’s FTSE [...]