Boom-town Qatar is becoming the New York City of the Middle East November 18, 2009 WHEN chancellor Alistair Darling announced the introduction of a 50 per cent tax on all income over £150,000 from April 2010, there was immediately talk of a mass exodus from the City. High earners, said the chancellor’s critics, would look to preserve their wealth and firms try to attract the best talent. Some were expected [...]
Now there is a new way for traders to play forex markets November 18, 2009 WITH more than $3 trillion traded in the volatile foreign exchange markets every day, private investors have increasingly been angling for a slice of the action. And last week, exchange-traded funds (ETFs) provider ETF Securities launched a new way for individuals to gain exposure to the world’s most liquid market. The ETF-provider has launched Europe’s [...]
M&S and ITV brighten up dull day of trading for FTSE November 18, 2009 THE UK’s main market ticked down slightly yesterday, as an unexpected drop in US housing figures spooked investors and weakness in food retailers and tobacco firms outpaced gains in miners and energy companies. The FTSE100 closed 0.1 per cent lower at 5,342.13 with Cable & Wireless, Unilever, Vodafone and HSBC going ex-dividend. Marks & Spencer [...]
FED IS STILL FUELLING THE RISK TRADE November 18, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COM CAUTIOUS expectations for growth in the world’s major economies haave seen market commentators predict that risk appetite will be pared back over the coming months. But despite all this talk, the risk trade suffered only a brief decline following the shock rise in the US unemployment rate to 10.2 per cent [...]
CAREERS CLINIC November 18, 2009 I think my shyness is holding me back. I’m an analyst for a fund manger, and though I’m technically on the ball, I know I’m quieter than those around me and people don’t notice what I say, particularly at meetings and networking events, which I dread. How can I have more personal impact? A lot [...]
Japan will become the land of the falling yen November 17, 2009 RATHER worryingly for Japanese exporters and the policymakers trying to prop them up during the recession, the yen has staged two attempts in as many days at breaking below the ¥89 level. Yesterday it fell as low as ¥88.74, close to the Japanese currency’s all-time low of ¥87.11 against the dollar, which it hit in [...]
Bid talk pushes Dana higher as FTSE 100 loses its grip November 17, 2009 A retreat in miners and banks offset strength in defensive utilities and food retailers yesterday, pushing the FTSE 100 lower by 0.7 per cent lower, ending four consecutive sessions of gains. The index closed 36.74 points lower at 5,345.93, giving back some gains from the previous session when shares hit a 14-month closing high. Mid-cap [...]
Broker views give US indices a boost November 17, 2009 US STOCKS rose to fresh 13-month highs yesterday as upbeat broker views on improving prospects for two Dow components offset disappointing holiday spending outlooks from Target and Home Depot. Even so, the underlying tone was negative as investors fretted about the strength of the recovery and the recent rally, and more stocks fell than rose. [...]
INVESTORS DIVERSIFY WITH ETFS November 17, 2009 NIZAM HAMIDHEAD OF SALES STRATEGY, SHARES IIT IS often said that one of the biggest advantages of having Exchange Traded Funds (ETFs) in your portfolio is that ETFs are inherently diverse, because they are based on an underlying basket of securities and are available on a wide range of asset classes. The financial crisis highlighted [...]
A COPENHAGEN WISH LIST FOR BUSINESS November 17, 2009 TIM BAINESNORTON ROSE LLP PRESIDENT Obama may have decided that there is little prospect of a binding agreement coming out of next month’s Copenhagen conference. He spoke yesterday about an “accord” that has “immediate operational effect”. Against this, many leading businesses have called for an ambitious and robust global deal. So what should business wish [...]