FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
Goldman and Wells Fargo dampen rally January 19, 2011 THE S&P 500 suffered its biggest decline in nearly two months yesterday as disappointing results from Goldman Sachs and Wells Fargo put a damper on the rally. The Nasdaq fell more than one per cent, its biggest daily percentage loss since 16 November, as more disappointment in earnings came from chipmaker Cree. Its stock tumbled [...]
How to rob your bank January 19, 2011 SANTANDER has brought back its switching deal, giving new customers £100 when they move their main current account to its offering which pays 5 per cent interest for the first year. However, the bank has been voted worst for customer service in a string of surveys by organisations including Moneywise, MoneySavingExpert.com and consumer group Which? [...]
Mind the gap (between arrival times) and cash in January 19, 2011 HAS your journey to work been thwarted by delays in the past six months? Well, Tube passengers have failed to claim rebates worth a total of almost £20m, according to a website that is amassing a cult following among disgruntled commuters. Since the start of July, there have been 1,514 severe delays on the Underground [...]
Families need to talk about long term care January 18, 2011 A THIRD of Britons aged over 55 who own their homes expect that they will have to sell their property to meet the costs of long term care for themselves or their partner. That figure comes from new research, commissioned by the wealth management team at solicitors Dickinson Dees. The YouGov survey also finds that [...]
Banks propel FTSE upwards to end three-day losing streak January 18, 2011 BANKS and commodity stocks helped Britain’s top share index break a three-day losing streak yesterday, as upbeat corporate results from Burberry, SAB Miller and Rio Tinto lifted investor sentiment. The FTSE 100 index closed up 70.73 points, or 1.2 per cent, at 6,056.43, eradicating losses sustained over the previous three trading days. Banks were among [...]
US stocks climb on hiked price targets January 18, 2011 US stocks gained yesterday, overcoming weak Citigroup results and concerns circling Apple after Chief Executive Steve Jobs’ medical leave. Investors focused instead on increased price targets for Google, which reports later this week, and Dow component Caterpillar, whose results are due next week. Shares of Apple slipped 2.3 per cent to $340.65 ahead of its [...]
Inflated expectations are driving up sterling January 18, 2011 INFLATION is the curious way in which, over time, the same amount of money buys progressively less stuff. So it was strange to see yesterday that, as a result of higher than expected inflation in Britain, the value of sterling hit its highest level in two months. Against the dollar, the pound rose by about [...]
POLITICIANS ARE DRIVING EURO-DOLLAR January 18, 2011 DIRECTOR OF CURRENCY RESEARCH, GFT THE euro/dollar found itself on a decidedly more shaky ground at the start of this week’s trade after Germany’s Finance Minister stated that the EU’s largest and most important economy had no intention of adding more capital to the EFSF fund. Wolfgang Schauble told German media he does not support [...]
Aussie’s upstream adventures could be over for now January 18, 2011 AUSSIE traders might feel a little like the 19-year-old Australian (pictured right) who tried to use a blow up doll to work his way through the floodwaters last week. It wasn’t so long ago that the Aussie dollar looked certain to be travelling upstream; the Reserve Bank of Australia was sure to raise rates. But [...]
