Global recovery sparks interest in commodities June 8, 2009 AS THE prospects of a global recovery have returned, so have rising commodity prices. And while it is oil that is dominating the headlines, the surge is happening across the board. According to the S&P/Goldman Sachs Commodity Index, raw material prices rose 20 per cent in May and the Baltic Dry Index – a measure [...]
Emerging market strength means luxury is down but far from out June 8, 2009 FOR a while it seemed like the luxury goods retailers would escape the global recession relatively unscathed. The rich would still remain relatively rich and any loss of custom in developed countries would quickly be replaced by growing demand in emerging markets like China. That hope has vanished in the past two weeks as the [...]
Banks shrug off McDonald’s and Apple worries June 8, 2009 US stocks rebounded late yesterday to end flat, shrugging off lighter-than-expected sales from McDonald’s and lowered iPhone prices from Apple. The three major US stock indexes had fallen more than 1 per cent before rallying in the last hour of trading, led by bank shares. Analysts pointed to the S&P 500’s recent piercing of its [...]
SPOTLIGHT ON SMALL CAPS June 8, 2009 VIDEO telecommunications firm Scotty Group revealed a mixed bag of news yesterday as its shares fell 13.9 per cent to 59p on Aim. Scotty updated the market on contract timing delays but was upbeat on the signing of a new? 8m (£6.9m) contract with Eurocopter. The small cap resources sector was as active as ever. [...]
EUROPEAN REPORT June 8, 2009 EUROPEAN shares closed lower yesterday as banks gave back some of their recent gains, though a late rally in commodities prices helped to limit the losses of mining and energy shares. The pan-European FTSEurofirst 300 index fell 0.8 per cent to 865.11 points, rising off the day’s low of 857.39. The index had risen for [...]
CREDIT REPORT June 8, 2009 SOVEREIGN debt markets dominated headlines yesterday after recession-torn Ireland saw its issuance downgraded by Standard & Poor’s (S&P) for the second time in under three months. The ratings agency cut Irish bonds to “AA” from “AA+”, after removing its top “AAA” rating in March, on fears the Eurozone nation may be unable to meet the [...]
Picking the right provider is vital for spread betters June 7, 2009 WITH volatility sitting comfortably at just below the 30 level on the Vix – a far cry from the high eighties reached post-Lehman – and the FTSE 100 range bound since early May, spread betters can no longer rely on massive swings in shares prices for their profits. This means it is increasingly important to [...]
THE TIPSTER June 7, 2009 THE political chaos that is Westminster is dominating the headlines at the moment: Gordon Brown is clinging to the premiership by a thread while cabinet ministers jump ship and call for his resignation. Whether he’ll go sooner or later, it’s worth taking a punt on how many seats the main parties are likely to win [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
UK FUTURE IS NOT AS BLEAK AS ELSEWHERE June 7, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COMNOW that the panic that followed the collapse of Lehman last September has subsided, the demands on policymakers have altered. What was needed at the height of the financial crisis was a quick and heavy-handed response to prevent the world economy sliding into depression. Now that economic data is suggesting that the [...]