Semiconductors lead the way for buoyant S&P 500 June 15, 2010 US stocks jumped yesterday as investors went on a buying binge. The S&P 500 turned positive for the year and rose above its 200-day moving average for the first time in a month, suggesting the recent downtrend may be ending. The Dow Jones industrial average gained 213.88 points, or 2.10 per cent, to 10,404.77. The [...]
Tap the source of profit June 15, 2010 AS austerity measures kick in, growth in the UK is expected to be fairly lacklustre for the next few years. An investment expected to outpace economic growth in the coming years is water. And the investment case is – excuse the pun – watertight. Demand for water is growing strongly, yet investment in infrastructure has [...]
HOPE AMIDST THE HORROR IN EUROPE June 15, 2010 MANAGING DIRECTOR, ARTEMIS IT COULD still all go horribly wrong, of course. With sovereign debt there are no lenders of last resort. Observes our ever-watchful CEO Mark Tyndall: “Several so-called ‘deficit reduction plans’ are about slowing the rate of growth in the deficit, rather than actually dealing with it.” European interbank rates are showing signs [...]
Fund managers pessimistic about growth June 15, 2010 FUND managers are highly pessimistic about the outlook for global economic growth and corporate profits. But sharp falls in world stock markets mean that global equities are now perceived to be at their most undervalued since March 2009, according to the June Bank of America-Merrill Lynch fund manager survey, published yesterday. Only a net 24 [...]
FUND MANAGEMENT NEWS June 15, 2010 PIMCO LAUNCHES NEW FUND Investment firm Pimco has launched its first active equity funds in the UK: the Pimco equities pathfinder fund and the Pimco equities pathfinder Europe fund, which are part of Pimco’s Ucits III Global Investor Series. The Funds will be managed by Anne Gudefin and Charles Lahr, and they will seek to [...]
Further upside to come for the Swedish krona June 15, 2010 EVENTS in the Eurozone periphery have unsurprisingly continued to grab traders’ attention over the past couple of months. But while foreign exchange investors are concentrating on the southern and eastern fringes of the single currency area, opportunities are opening up on the northern edge. The balance sheets of the eastern European and Club Med states [...]
RELIEF RALLY IN THE EURO IS TENUOUS June 15, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT WITH so much negative sentiment aligned against it, the euro unsurprisingly started the week with a strong relief rally. The latest positioning data from the CFTC released last Friday revealed that speculators added 18,620 fresh new shorts, resulting in total short exposure of 111,945 contracts – the second highest reading [...]
The euro has been left treading air June 15, 2010 WITH Moody’s downgrade putting Greek government debt on a par with that of Romania and Latvia, analysts are starting to ask if this is end for the Eurozone. At a press briefing this week Theodora Zemek of AXA Investment Managers even commented that the next two years could see the wholesale break-up of the euro. [...]
THE TIPSTER June 15, 2010 THE Aussie dollar was extremely volatile in the past month as markets suffered from a bout of volatility. Sterling-Aussie was particularly volatile, and after a break out above A$1.7000, the pound kept getting stronger until it hit the A$1.8000 mark. At this point the pound faltered and headed back toward A$1.7000. However, the Aussie hasn’t [...]
Obama’s new act will prove costly for City firms June 15, 2010 PARTNER, WITHERS LLP ON 18 March 2010 President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act, creating far-reaching client identification and disclosure requirements for every City bank, financial institution, brokerage house and fund structure. While the act is intended to boost US employment through tax breaks for US businesses, it also contains revenue-raising [...]
