The legacy of the Olympics will be a 21st century transport system July 26, 2010 EVERY Olympic host has a legacy. Beijing 2008’s was clearing the pollution from the city’s air so visibility was more than just a few feet, while Athens in 2004 made significant improvements to its infrastructure, including the establishment of the brand new Eleftherios Venizelos International Airport. But exactly how will London leave its mark on [...]
Austerity Games can still be a triumph July 26, 2010 WHEN London last hosted the Olympic games, it was 1948. The Allies had won the war, but Britain’s rewards were still to come: food was still rationed; the capital’s streets looked like rows of broken teeth (post-war construction was but a dream); and there was quite simply no cash at all to spend on stadiums [...]
Europe’s banks are at a crossroads after tests July 26, 2010 IF THE results of European bank stress tests were designed to draw a line under fears about the robustness of the system, then they failed miserably. The tests conducted on 91 banks across Europe were met with a hefty dose of scepticism from the investment community after only seven banks failed and the combined funding [...]
STRENGTH IN EQUITIES IS SURPRISING July 26, 2010 AFTER a shaky start, last week saw the second quarter US earnings season come alive and galvanise equity markets. The strong rally that began on Thursday was thanks to better-than-expected bottom line, top line and forward guidance from bellwether stocks such as Caterpillar, UPS, Microsoft and 3M. But it also highlighted a contradiction that is [...]
Those with the stomach for it should go long on food demand July 26, 2010 WELSH lamb-farmers have every reason to celebrate as they edge closer to signing a lucrative export deal with China. The deal is just another of many signs that emerging markets’ growing demand for hard commodities like steel and oil is leading to a boost in demand for soft commodities like wheat and cocoa. As infrastructure [...]
THE TIPSTER July 26, 2010 ALTHOUGH recent traffic figures have revealed poor punctuality at budget airline easyJet, the company should be releasing its trading statement bang on time tomorrow. EasyJet will be looking to calm investors’ nerves and the airline appears to have overcome the troubles faced during air travel suspensions when the volcanic ash cloud covered the skies of [...]
Banks lead the way as resurgent FTSE gives bulls a glimpse of higher plains July 26, 2010 BRITAIN’S top share index hit its highest close in 10 weeks yesterday, led by banks after European stress tests passed without major incident, and as strong economic data from the US boosted investor confidence. The FTSE 100 index ended up 0.7 per cent, or 38.50 points, at 5,351.12, its highest closing level since 13 May. [...]
Home sales and an upbeat FedEx buoy US equities July 26, 2010 A N upbeat outlook from FedEx, coupled with encouraging home sales, lifted US stocks yesterday, keeping t he S&P 500 above 1,100 for a second day and suggesting the rally could last. FedEx raised its outlook, boosting its stock by 5.6 per cent. The news from the package delivery and business services company validates the [...]
Positive verdict expected on bank stress tests July 25, 2010 RESULTS from the European bank stress tests came out on Friday but after the close of European markets. Fewer banks than expected failed the tests – just seven smaller ones – and we are likely to see some relief filter through to stock markets this morning. GFT is quoting the FTSE 100 index to open up 35 points from [...]
WALL STREET WEEK AHEAD July 25, 2010 WALL Street enters this week on the cusp of a breakout in US stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of last week. The markets endured malaise with poor economic data and downbeat testimony from Federal Reserve chairman Ben Bernanke on Wednesday, [...]
