CHINA LOOKS OVER-COOKED RIGHT NOW July 27, 2009 DAVID MORRISONSENIOR DERIVATIVES TRADER, GFT YESTERDAY saw the result of the first Chinese initial public offering (IPO) in over a year since Chinese regulators suspended IPOs in September 2008 after worries that too many companies were anxious to tap investors for funds. And what a success the debut was. On the first day of trading [...]
Results season begins as BT and National Express report July 26, 2009 THE company reporting season gets into full swing this week, with a slew of companies issuing numbers including BP, Shell and BT to name just three FTSE 100 giants. National Express, the rail and coach operator that recently became a takeover target after losing its franchise for the East Coast main line, reports on Thursday [...]
Successful day traders choose their stocks with precision July 26, 2009 THE market volatility we have experienced over the past 18 months or so has encouraged private investors to try their hand at the fast-moving, risk-riddled strategy of day trading because of the large daily moves in stocks combined with overnight uncertainty. And opportunistic spread betters have been all too keen to jump on the back [...]
UK DEFICIT TO HINDER RISE OF STERLING July 26, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COMECONOMICS textbooks would have you believe that a currency should adjust lower if it belongs to a country with a large current account deficit or an increasing budget deficit and for years US dollar bears have been citing the current account deficit as a reason why the greenback should depreciate. In 2008 [...]
THE TIPSTER RESISTANCE HAS FINALLY BEEN BROKEN July 26, 2009 WITH the Dow Jones Industrial Average breaking solidly through the 9,000 mark, it should come as no surprise that the FTSE 100 has also been making steady gains over the past week. Fuelled by the optimism from US earnings figures, the FTSE 100 breached significant resistance levels last week. All eyes will be on the [...]
US stock rise seen as over-extended July 26, 2009 ASTONISHINGLY, the Dow Jones Industrial Average (DJIA) has remained above the 9,000 mark after breaching the psychological level on Thursday evening for the first time for what felt like ages. Back in early March when the Dow plummeted to 6,440.08, only the ultra-bullish investors thought 9,000 would be on the cards this year. But after [...]
Data from the US will reign on stocks July 26, 2009 US corporate earnings will continue to spur market direction this week, although some higher-tier economic data also from the States may try and hog the limelight. Verizon – number one mobile service provider in the US– kick the week off, out today at 12.30. Oil giants Exxon Mobil and Chevron report Thursday and Friday. Much [...]
FTSE 100 hits a yearly high on cheery earnings season July 23, 2009 THE FTSE 100 broke through the 4,500 level yesterday as it rose for the ninth straight day on the back of positive economic data and a rally in banks and miners. The index rose by 66.07 points, or 1.5 per cent, to 4,559.80, the highest closing level since early January, having touched a high of [...]
Wall Street cheers as markets surge July 23, 2009 US stocks surged yesterday, sending the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy. The broad-based rally helped all 10 of the S&P 500’s benchmark sectors finish the day in positive territory. Strong profits from bellwethers such [...]
Post-crisis, the carry trade is a new beast to contend with July 22, 2009 IT WAS once the most popular trade in the foreign exchange market and helped fuel the boom in global asset markets until 2007. But with the advent of the sub-prime, and subsequently the full-blown, financial crisis, the carry trade was unwound as investors became risk-averse and piled into safe-havens such as the US dollar and [...]