Austerity won’t lead to a double-dip June 22, 2010 RESEARCH DIRECTOR, FOREX.COM JANE FOLEY The pivotal question in the run-up to yesterday’s emergency Budget was whether it would knock the economy into a double-dip recession. This debate had been raging for months – indeed, the Labour Party campaigned hard on the assertion that too much austerity too soon could tip the economy back into [...]
US stocks dragged down by poor housing figures June 22, 2010 US stocks fell more than one per cent in yet another late-day selloff yesterday as unexpectedly poor housing figures and the puncture of a key technical level sapped buying interest. Stocks marked time in a thinly traded session until the S&P 500 fell through its 200-day moving average, which had been a basis of support [...]
Budget brings down bank shares but delay in VAT rise gives retailers a boost June 22, 2010 WEAKER commodity stocks pulled Britain’s top share index lower yesterday, while retailers got a lift from the first emergency Budget from Britain’s new coalition government after an expected valued added tax rise was delayed. At the close, the FTSE was down 52.1 points, or 1.0 per cent, at 5,246.98, having hit its highest closing level [...]
Climate change funds efficient source of profit June 22, 2010 AS THE western world enters the age of austerity, finding sectors with strong growth potential will be the challenge for investors. Climate change is one area that has astounding prospects. The International Energy Agency (IEA) estimates that between $1 trillion and $2 trillion a year will need to be invested over the medium to long [...]
Survival in the Far East June 22, 2010 JAPAN has defied the most ardent optimists for the past 20 years. From a peak of 38,000 at the height of the country’s asset price boom in 1990, the Nikkei 225 index has plotted an almost unbroken downwards course. Gross domestic product (GDP) has trodden water at the nominal level of ¥500tr (£3.7tr) for a [...]
FUND MANAGEMENT NEWS June 22, 2010 GELDOF: FUNDS MISSING OUT ON AFRICA Sir Bob Geldof has warned UK pension funds that they are missing out on a great investment opportunity by not investing in Africa. Speaking at an event held by CDC, a government-backed institution that makes private equity investments in sub-Saharan Africa, he said: “Where is your money safest? Africa [...]
A BLITZ OF CUTS WOULD BE THE BEST June 22, 2010 DICK TURPIN MANAGING DIRECTOR, ARTEMIS RATHER than a real war on debt, what has been going on until now has been more of a Sitzkrieg than a painful – but very necessary – Blitzkrieg. This is just as it was from September 1939 to April 1940 when the Second World War was a sitting war: [...]
After sterling’s rally, investors are playing a waiting game June 22, 2010 FOREX markets gave a cautious welcome to George Osborne’s emergency Budget measures yesterday, with sterling rallying to highs of $1.4851 and €1.2081. However, the pound still failed to make up Monday’s losses against the dollar, reflecting a widespread wait-and-see approach as analysts work through the details of the Budget and watch for its impact on [...]
AFTER A CAUTIOUSLY POSITIVE RECEPTION FOR THE BUDGET, WHERE NOW FOR STERLING? June 22, 2010 MICHAEL HEWSON | CMC MARKETS If the Chancellor was looking to see if his credibility budget was a success, then judging by the market reaction so far it could well be he has succeeded. Euro-sterling has gained ground, pushing below the 83.2-3p support area and while the bigger 84p resistance level holds, further sterling gains [...]
THE TIPSTER June 22, 2010 IT WAS easy yesterday to focus only on what was happening to sterling but there was activity in plenty of other currency pairs too. The Australian dollar-New Zealand dollar has retraced ever since the Aussie dollar failed to maintain momentum above NZ$1.3000. The latest retracement to the NZ$1.2400 level equals the 38.2 per cent Fibonacci [...]
