China’s banks weigh heavily on Wall St July 29, 2009 US STOCKS fell yesterday as investors worried that China’s banks could hit the brakes on lending to stem market excesses, a move that could curb the global economic recovery. Concerns about China hurt commodity prices and hit shares in the energy and raw materials sectors, while a steep drop in US durable goods orders in [...]
Healthcare shares fend off US slump July 28, 2009 THE Dow and S&P 500 stock indices both put in slight falls yesterday, recovering from sharper declines in earlier trading, as investors shrugged off weak consumer confidence data and focused on positive earnings reports. Stocks in the healthcare sector led the afternoon rebound, with biotech shares rising a day after Amgen’s strong quarterly earnings report. [...]
OVERBOUGHT EURO HAS CAP TO ITS UPSIDE July 28, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT ON Friday, the US Commodity Futures Trading Commission (CFTC) released their weekly commitment of traders (COT) report for currency futures. Since the spot currency market is decentralised, there are no reports about positioning data. Therefore, the COT report is the only publicly available piece of data that provides information [...]
Falls in mining and energy halt FTSE’s winning streak July 28, 2009 THE FTSE 100’s two-week winning streak finally came to an end yesterday, with the benchmark index closing 1.3 per cent down on the day. The blue chip index had looked set to put in another consecutive day’s gain in earlier trading, but profit taking in mining and energy stocks dragged it lower. The FTSE 100 [...]
Slowly but surely, signs that the law is opening up July 28, 2009 IQUALIFIED – against all odds – to become a lawyer,” recalled Constance Briscoe, barrister, part-time judge and author of the bestselling misery memoir Ugly. She was talking on Radio 4’s PM programme last week following the report by an all-party panel chaired by former cabinet minister Alan Milburn on social mobility and the professions. “I’ve [...]
WOMEN LAWYERS IN THE CITY July 28, 2009 CLARE MCCONNELLPARTNER, STEPHENSON HARWOOD AND CHAIR, ASSOC OF WOMEN SOLICITORS SURVEYS continue to show that the progress of women lawyers in the profession, and into partnership, has stalled. Even in the 21st century it is still true that women shoulder the majority of the responsibility for childcare or care of other dependants even when they [...]
Bullish Aussie dollar will be threatened by Chinese bubble July 28, 2009 THREE weeks ago, risk aversion was firmly back in the markets and commodity currencies were looking shaky. But equities and commodities have been surging across the board as investors rediscover their taste for risk. In such an environment, the Australian dollar ought to be doing well thanks to its economy’s dependence on exports of base [...]
UK stocks keep on rallying buoyed by energy climbers July 27, 2009 BUOYANT energy stocks and miners helped Britain’s top share index rise for a record-equalling 11th straight session, though gains were limited by falls on Wall Street after corporate earnings disappointed. The FTSE 100 was up 9.52 points, or 0.2 per cent at 4,586.13, hitting its highest closing level since 5 January. The index has risen [...]
Strong home sales cheer US investors July 27, 2009 US stocks rose slightly yesterday in a late rally as investors rotated into financial shares, which had lagged in the recent two-week run-up. Upbeat data on new home sales underpinned financial stocks, the session’s strongest sector, and prompted investors to snap up the shares of several regional banks, which had been among the worst hit [...]
Canny traders should look to buy crude oil on the correction July 27, 2009 CRUDE’S inexorable rise over the past few weeks in line with rallying equity markets pushed September Brent through the $70 a barrel mark in intraday trading yesterday, touching a session high of $71.28. Signs of an improving world economy and resilient Chinese GDP growth as well as relatively upbeat second quarter earnings in the US [...]