FTSE100 puts in best day in months amid renewed hopes October 6, 2009 THE top share index closed 2.3 per cent higher yesterday, its best gain in three months, as commodity and bank shares rallied on renewed hopes over the gathering pace of the global economic recovery, ahead of the third-quarter US earnings season. At the close, the FTSE 100 was up 113.65 points at 5137.98, after closing [...]
Hopes for earnings see Wall Street rise October 6, 2009 WALL Street stocks rose yesterday amid signs the global economy was recovering and optimism that corporate earnings reports will beat expectations. The economic optimism spurred gains in energy and other commodities, lifting shares of oil and resource companies. Shares of Exxon Mobil rose 1.6 per cent to $68.66 and were among the top gainers on [...]
EXPECT MORE WEAKNESS IN GREENBACK October 6, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT LAST week’s dismal US unemployment data was a depressing reminder to the currency market that the American economy, which at one time served as the locomotive for global growth, may now be the laggard of the industrialised world. While the recovery continues in the rest of the G20 universe [...]
Hike in interest rates boosts prospects for Aussie dollar October 6, 2009 THE hike in rates to 3.25 per cent yesterday by the central bank of Australia should have come as little surprise to most market participants. Over the past couple of months, there have been growing indications, not least from the Reserve Bank of Australia (RBA) itself, that a rise in the cost of borrowing was [...]
Upbeat economic sentiment boosts FTSE to above 5,000 October 5, 2009 THE FTSE 100 closed higher yesterday after US Institute for Supply Management non-manufacturing data came in better than forecast, with miners and banks the best performing sectors. The index closed up 35.63 points, or 0.7 per cent, at 5,024.33, after tumbling nearly 60 points on Friday to a near three-week closing low below the 5,000 [...]
US stocks shoot up on stronger data October 5, 2009 US stocks shot higher yesterday, ending a four-day losing streak as optimism about upcoming earnings gathered steam and data showed the services sector expanded for the first time since August 2008. The Dow Jones industrial average was up 112.08 points, or 1.18 per cent, at 9,599.75. The Standard & Poor’s 500 Index closed up 15.23 [...]
Traders prefer bonds as fears of a pullback rise steadily October 5, 2009 WITH the FTSE 100 back down below the 5,000 mark, the bears are beginning to feel a little smug. Since July they have been warning that the rally in the markets has been overdone and that we are due a correction. Professor Nouriel Roubini, the economist known as Dr Doom, has said recently that “markets [...]
WHY WE WILL NOT SEE A RED OCTOBER October 5, 2009 EVERYBODY is saying it: the correction is coming. After rallying since March and with various records being broken, it is claimed that global stocks are overdue a sell-off. Analysts are desperate to tell us that “investors have become over-excited with the positive-trending economic data” or that “the fundamentals are being ignored”. Commentators are falling over [...]
You need to evolve to survive in this market October 5, 2009 FOR the retail market participant, success in trading often means finding an edge. Whether that refers to a combination of technical indicators, a sound plan for reacting to event risk or identifying repeatable patterns, the conclusion is always the same. When they come across a system that works, they stick to it. However, narrowing one’s [...]
How M&A-spotters can make big bucks October 4, 2009 F OR those of us trading the financial markets over the last two years, large mergers and acquisitions may now be a distant memory. Figures from markets analyst Dealogic indicate that acquisition volumes are down 55 per cent in Europe and 61 per cent in the US compared to this time last year. So much [...]