FX RECOVERY TRADE STILL UNCERTAIN July 13, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT THE central question facing the currency market is whether the economy will maintain its pace of recovery. Last week the recovery trade received a substantial boost when both Australia and Canada reported better than expected employment numbers. Australia added 45,900 jobs and the country’s jobless rate fell to an enviable [...]
FOREX ANALYST PICKS July 13, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy euro-Swiss franc at SFr1.3415 Expertise: Classic technical analysis Average time frame of trades: 1 week-6 months The cross has been under intense pressure for several months, breaking to fresh record lows of SFr1.3070 ahead of the latest bounce. While the trend remains bearish, we have adopted a constructive [...]
High potential is still at the heart of Africa July 13, 2010 WITH so much uncertainty about the world economy, it is a good time to diversify your portfolio by investing in Africa-facing funds. The recent launch of two such funds adds to a widening range of options: Sanlam Investment Management has started up an ex-South Africa fund, while Silver Street Capital has just set up an [...]
Building your portfolio July 13, 2010 THEY shunned infrastructure at the height of the downturn, but now pension funds are starting to flock back to the asset class in search of an inflation-hedged alternative with long-term attractive yields. The Global Alternatives Survey, conducted by Towers Watson and the Financial Times and published earlier this week, showed that pension funds allocated more [...]
CHOICE LIVES AMID THE ANTITHESIS July 13, 2010 MANAGING DIRECTOR, ARTEMIS MARKETS have recovered recently. But is this a sustainable rally – or a “dead cat bounce”? There are cogent arguments for both bull and bear. The former begins with the observation that the outlook for global economic growth remains good. Indeed, the IMF recently raised its forecast for global growth this year [...]
FUND MANAGEMENT NEWS July 13, 2010 NET OUTFLOWS FOR EUROPEAN FUNDS Data from Lipper, the fund management research company, has found that European funds had a net outflow of €18bn in May. Money market funds saw the biggest outflows, while mixed asset and bond funds saw inflows slow to their lowest level for 12 months. Equity fund withdrawals were relatively modest [...]
FTSE climbs for sixth day on optimism over US earnings and stress test hopes July 13, 2010 BRITAIN’S top shares climbed for the sixth consecutive session yesterday, led by banks on optimism that US peers would post strong earnings and lift the sector, and that Europe’s lenders would pass a key stress test. The FTSE 100 closed 104 points, or two per cent, higher at 5,271.02, hitting its highest close in over [...]
Alcoa and Intel’s quarterly results hearten investors July 13, 2010 STOCKS rallied for a sixth straight day yesterday after Alcoa’s quarterly results heartened investors that had fled to the sidelines on jitters about the sustainability of the economic recovery. The Dow Jones industrial average gained 146.75 points, or 1.44 per cent, to 10,363.02. The Standard & Poor’s 500 Index rose 16.59 points, or 1.54 per [...]
Our national neuroses require a subtle cure July 13, 2010 LAST week, David Cameron condemned what he calls a “national neurosis” driving health and safety regulation. He was quoted in the Daily Mail saying: “The rulebooks keep getting thicker. The restrictions keep getting sillier.” Presumably, he is paving the way for the summer release of Lord Young’s inquiry into “the rise of compensation culture (and) [...]
Osborne’s FSA reforms will cost consumers July 13, 2010 DURING the last few months, we have seen George Osborne outlining various plans for the future of UK regulation and a commission established to look into splitting up the banks. This has left some areas of the industry uncertain as to who is going to be supervising them and concerned that if we do not [...]
