FTSE ends lower as Barclays leads banking sector retreat August 5, 2010 BRITAIN’S top shares closed down yesterday, with Barclays leading banking shares lower after it posted first-half numbers and downbeat US weekly jobless claims data later in the day only adding to the downward pressure. The FTSE 100 closed down 20.38 points, or 0.4 per cent, at 5,365.78, having fallen back from a session high of [...]
Wall Street dips on new jobless claims August 5, 2010 US stocks edged lower yesterday as an unexpected rise in initial jobless claims and unimpressive July retail sales dimmed optimism ahead of the monthly payrolls report. Investors were cautious before today’s jobs report, and after a 10 per cent rise in the S&P 500 since July 2. Yesterday’s data showed initial claims for jobless benefits [...]
A new generation of banks August 5, 2010 BRITAIN saw the launch of its first new high street bank in many years recently, with the opening of Metro Bank’s first and only branch so far on High Holborn. The launch featured no end of gimmicks – including balloons, goodie bags and free dog biscuits – to persuade consumers that the bank offers something [...]
PERSONAL FINANCE NEWS August 5, 2010 MS LAUNCHES NEW GROWTH PLAN Morgan Stanley this week announced the launch of its FTSE Gilt-Backed Growth Plan 4, which offers investors a fixed return equivalent to 8.5 per cent a year, paid on the first anniversary that the FTSE records flat or positive performance. If this does not happen, then investors still have some [...]
Hit the ground running with offshore banking August 5, 2010 ANYBODY who has moved to the UK for work will know how stressful, difficult and time-consuming it can be to open up a simple bank account and manage your finances. For people who regularly relocate for business, opening an offshore account can offer numerous advantages. First, you get 24-hour telephone banking and internet access wherever [...]
Seek exposure to a broad set of EU stocks August 4, 2010 AFTER a tumultuous and testing first six months of 2010 for Europe, a calmer and less chaotic second half appears to lie ahead. This is, perhaps, unsurprising – after all we have just endured a sovereign debt crisis and a stagnation of growth, which sent stock markets sharply southwards. The more optimistic outlook – it [...]
Bearish sentiment boosts short ETFs August 4, 2010 THE global economy is at a crossroads. Fears about a slowdown in China, persistently high unemployment in the US and ongoing concerns about sovereign debt problems in Europe all threaten to weigh on financial markets in the coming weeks. But the Vix index, the traditional fear gauge for financial markets, has steadily ticked down in [...]
The european bank sector marches toward the rubicon August 4, 2010 HEAD OF INVESTMENT RESEARCH, MINT EQUITIES IT HAS been a good couple of weeks for the European banking sector. Firstly, the stress test results for banks across Europe were good; secondly, profits for the second quarter have been impressive. As you can see in the chart below, the European banking sector has pushed on strongly [...]
THE TIPSTER August 4, 2010 BIt’s a busy day for central bankers. The Bank of England (BoE) and European Central Bank (ECB) both announce the outcome of their latest rate-setting meetings. Market participants expect a “no change” decision. But the market will get excited by the ECB’s statement this afternoon. This should tell us how happy the Bank is with [...]
MARKET NEWS August 4, 2010 SOCGEN OFFERS NINE NEW WARRANTS This week saw the launch of nine new covered warrants from Societe Generale. Four are cocoa call warrants; the rest are divided between two dollar-Swiss franc put warrants that expire in December and three copper put warrants. Meanwhile, RBS Markets has launched two new products: one is the UK Accelerated [...]
