UNCERTAINTY STILL REIGNS IN MARKETS May 20, 2009 THERE is considerable confusion in the markets over the fundamental question of whether the global economy has bottomed out. This has resulted in wide swings in sentiment. At the time of writing, the S&P 500 had gained 5.8 per cent in the month to date, largely a result of relief over news coming out of [...]
Firms need to tread carefully as redundancy claims increase May 19, 2009 EARLIER this week, single mother Alison Weekes said that she is to sue Lloyds TSB for £70,000 for sex and race discrimination and victimisation, after she was sacked by the bank. She alleges that her boss said that she was “not committed” to the job, and was unable to “put in the hours” because she [...]
Improve your forex trading with currency correlations May 19, 2009 WHEN quantitative easing was introduced earlier this year, there was no doubt that it would shake up the markets. But a race to zero interest rates and the adoption of QE by many of the G10 countries has meant that foreign exchange traders have had to adjust their strategies to this new market environment. Continued [...]
WILL THRIFT SLOW DOWN RECOVERY? May 19, 2009 SINCE March, global equity markets and risk currencies like the euro, pound and Australian dollar have rallied on the assumption that global demand will begin to recover by the second half of 2009. Markets have seen evidence of recovery among producers as various purchasing managers’ surveys from industrialised nations have beaten expectations. Demand has undeniably [...]
LEGAL NEWS May 19, 2009 FOUR-DAY WEEK AT ADDLESHAWFee-earners at Addleshaw Goddard have been asked to work a four-day week on 85 per cent pay. If the proposal is approved by the firm’s lawyers, then the scheme could come on-line for a year, starting on 1 July. The firm is also looking for fee-earners who are willing to take additional [...]
No sign of vertigo as banks take the FTSE 100 higher May 19, 2009 THE FTSE 100 continued its upward momentum yesterday, propelled up by financials and miners, although gains were limited by figures that showed new US housing starts fell to record lows. The index closed 0.8 per cent, or 35.80 points, higher at 4,482.25, with investors showing no sign of vertigo from the recent hefty rises. “Despite [...]
US shares rocked in housing data shock May 19, 2009 THE Dow and S&P 500 slipped yesterday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard. After a choppy session, financial shares fell as the US Senate passed a bill to curb sudden credit card interest rate increases and [...]
OUTLOOK IS GRIM FOR THE NEW SICK MAN OF EUROPE May 18, 2009 FOR those traders stubbornly sticking with short FTSE positions from the sub-4,000 mark, last week’s profit-taking will have been a welcome relief. After the past few months of almost uninterrupted rallies in shares and green shoots spurring an 800-plus point bounce in the FTSE, those resolute bears must have been close to folding. That’s fine [...]
EUROPEAN REPORT May 18, 2009 EUROPEAN equities closed higher yesterday as financial stocks climbed on hopes a recession in top global economies was abating, while energy shares tracked higher crude oil prices. The FTSEurofirst 300 index of top European shares closed 2.4 per cent higher at 859.88 points after falling as low as 827.32. The index, which slumped 45 per [...]
Banks lead the FTSE higher and bulls reboot interest in sofware companies May 18, 2009 THE FTSE 100 sprung to life yesterday, driven by banks which were led higher by confirmation of Lloyds Banking Group’s rights issue and the announcement that Sir Victor Blank would step down as its chairman. The index erased almost half of last week’s losses, closing 2.3 per cent, or 98.34 points, higher at 4,446.45 points. [...]