Q&A CURRENCY June 24, 2010 Q. How serious a problem are currency movements for my business? A.Currency fluctuations are obviously only a problem for British businesses that buy or sell in currencies other than sterling. But for those companies, it can make the difference between making a profit or a loss. The euro, for example, has fallen nearly 10 per [...]
Two-week low for the FTSE as metals and miners tumble June 23, 2010 BRITAIN’S top share index hit a near two-week closing low yesterday as retreating metals prices and downbeat broker sentiment pressured mining stocks and with investors’ moods darkened by weak US homes sales data. The FTSE 100 index closed down 68.46 points, or 1.3 per cent, at 5,178.52, its lowest close since 11 June, having lost [...]
Fed spooks stocks with grim outlook June 23, 2010 US stocks mostly fell in a volatile session yesterday after the Federal Reserve downgraded its assessment of the economic recovery as it vowed to keep cheap money flowing. The market bounced between positive and negative territory as investors wrestled over the implications of the Fed’s statement in the afternoon on the economy and interest rates. [...]
Equity indices have lost their momentum to rise further June 23, 2010 DESPITE continued fears of an economic slowdown, global equities had proved somewhat resilient over the last fortnight with traders jumping on any piece of good news as an excuse to buy. But the 10-session winning streak in the MSCI World Index snapped on Tuesday and the index of global stocks has now shed 1.4 per [...]
Expand beyond developed countries June 23, 2010 WITH growth in advanced economies forecast to be sclerotic for the near future, investors should look to capitalise on the more dynamic prospects of emerging markets (EM). The International Monetary Fund is forecasting that developed economies will shrink overall by 3.12 per cent this year versus developing economies’ growth of 6.14 per cent. One of [...]
THE TIPSTER June 23, 2010 TARGET A UK STOCKS RALLY ON THE FTSE 250 YESTERDAY’S sell-off could be another opportunity for investors to add to long positions of more UK-centric stocks. Following a Budget that was beneficial for UK companies, expect to see further gains, particularly given the announcement of a gradual reduction in corporation tax to 24 per cent [...]
LISTED PRODUCT NEWS June 23, 2010 AMUNDI LAUNCHES SEVEN NEW ETFS Exchange-traded fund (ETF) provider Amundi has launched seven new fixed income ETFs on the Paris stock exchange, of which four are the first of their kind. One ETF will replicate the performance of the EuroMTS ex-AAA government index, which is composed of debt securities issued by the Eurozone states with [...]
New watchdog won’t scare City June 23, 2010 IT is only just over a year since Hector Sants, head of the Financial Services (FSA), told the City in no uncertain terms that he wanted business to be “very frightened” of his organisation. Central to that warning ran the theme of “credible deterrence” through increased criminal prosecution, particularly in relation to insider dealing. Despite [...]
In-house lawyers should defend themselves June 23, 2010 A RECENT opinion handed down by the advocate general in Brussels rejecting privilege for communications with in-house counsel threatens the status and future of in-house solicitors, and has caused significant concern to major companies and City lawyers. The background to the case was a dawn raid carried out by the Office of Fair Trading and [...]
Non-doms escape major crack-down in Budget June 22, 2010 NON-DOMS breathed a sigh of relief yesterday as the Budget fell short of the tough new tax avoidance measures some had been expecting. Chancellor George Osborne’s Budget said the coalition will “assess whether changes can be made to the current rules to ensure that non-domiciled individuals make a fair contribution to reducing the deficit, in [...]
