Oversold pound offers buying opportunities November 10, 2009 RATINGS agencies might have got a bad press during the financial crisis but yesterday’s volatile moves in sterling-US dollar indicate that they still command plenty of attention from the markets. David Riley, Fitch’s co-head of global sovereign ratings, told Reuters Television early yesterday morning that Britain’s coveted triple-A rating is more at risk than that [...]
AUSSIE AN FX OPTION FOR GOLD BULLS November 10, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT THIS week gold reached a record high, breaking the key $1,100 an ounce level after the central bank of India purchased 200 tonnes from the International Monetary Fund – the largest such transaction by a central bank in over 30 years. Analysts’ opinions regarding this latest surge varies greatly, [...]
DON’T TRUST YOUR FIRST INSTINCTS November 9, 2009 MARTIN SLANEYHEAD OF DERIVATIVES, GFT IN HIS latest book, Errornomics, journalist Joseph Hallinan has written about why we make errors and how we can stop them. When we take exams, he says, the perceived wisdom is to go with your first answer. Yet research from the past 80 years suggests the opposite – we should [...]
THE NEW YORK REPORT November 9, 2009 A broad US stocks rally sent the Dow industrials to a 13-month high last night, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors’ desire for risk. The agreement by G20 finance ministers and central bankers over the weekend to keep stimulus in place boosted global stocks on [...]
Banks are in the dock as litigation lawyers look for soft City targets November 9, 2009 LAUNCHING a lawsuit against a major bank has never been easy. As anyone who has been involved in heavyweight litigation knows, the process of bringing a claim of any kind is expensive, hazardous and distracting. Regardless of the merits, no bank is likely to roll over very easily when faced with legal action. In order [...]
Remember, remember, to buy in November November 9, 2009 NOVEMBER is often considered one of the worst months of the year: the days are getting shorter, the holidays are still at least six weeks away and it is markedly colder and wetter. In short, not a month to get that excited about. That is, unless you are an investor. Forget the dismal weather and [...]
THE LONDON REPORT November 9, 2009 BRITAIN’S top share index hit its highest closing level in more than two weeks yesterday as the G20’s pledge to keep stimulus in place bolstered investors’ risk appetite, with miners and oil stocks leading the charge. The FTSE 100 closed up 92.46 points, or 1.8 per cent, at 5,235.18, the highest close since 23 October, [...]
Prem goal fest means punters who buy goals keep winning November 8, 2009 A FEW weeks ago, there was a story kicking about that the high street bookies were suffering because of the low number of draws that we have seen in the premier league so far this season. The high number of goals meant that there were fewer nils-nils and one-alls, and far more edge-of-the-seat, high-scoring thrillers. [...]
Christmas will be make or break for our retailers November 8, 2009 WHEN the Christmas lights on Regent Street were switched on last week, it marked the beginning of the most important period of the year for high-street retailers. Many can earn 60 per cent of their annual profits in the peak weeks of Christmas. After a dismal end to 2008 when it seemed like retail chains [...]
Saying “aloha” to the City’s coolest new watering hole November 8, 2009 YOU don’t have to be a millionaire to come here,” says Nick House, before a backdrop of Hawaiian masks, carved screens, coconuts and bamboo chairs. Then he laughs and jokes: “But it helps.” With his business partner Piers Adam, House is one of the biggest names on the London clubbing scene. One of the pair’s [...]