Bargain hunters help Wall Street to stage a recovery May 17, 2010 US stocks staged a comeback in late trading yesterday as bargain hunters snapped up beaten-down shares, setting aside concerns that efforts to tackle the Eurozone debt crisis could stifle the global economy. Retailers Wal-Mart and Target also rose ahead of earnings later in the week. Shares of Wal-Mart rose 1.2 per cent to $52.73 and [...]
Look to the stock markets for direction on the oil price May 17, 2010 THE sense of crisis stalking Eurozone economies has coincided with a steep drop in the oil price. It has fallen 17 per cent in the last fortnight and the benchmark Nymex oil price is currently trading at close to $71.85 per barrel. But, even after this drop in price, some oil analysts are standing by [...]
EUROPEAN TROUBLES HURT ASIA May 17, 2010 CFD MARKET STRATEGIST, GFT THE European bailout package stunned traders and investors alike. Initially, hopes were high that it would help shore-up confidence. But looking at the markets’ reaction to last weekend’s announcement, European leaders must be extremely concerned by the results so far. Over the course of the week, European stock indices managed to [...]
CFD ANALYST PICKS May 17, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Still buy the FTSE 100 at 5,000 Expertise: Technical analysis Average time frame of trades: 5-10 days The FTSE has been hurt in recent days and it seems like it could head back toward the 5,038 lows reached earlier this year. At this point, we would not rule out [...]
Eurozone volatility will keep unsettling investors May 16, 2010 IT’S A DIFFICULT one to call this morning; after hitting a two-week closing high on Thursday, the FTSE promptly dumped 171 points on Friday. Both moves were attributable to the Eurozone, and that volatility will no doubt remain with us for now as the debt crisis – and the future of the euro itself no [...]
Don’t forget about volatile silver: it is a decent alternative to gold May 16, 2010 AS ONE might have expected, renewed risk aversion and fears about sovereign debt have sent the price of gold sky high. The precious metal hit a record high last week of $1,242.70 as investors scrambled for perceived safe havens. But with all the attention lavished on gold, the recent strength of silver has gone remarkably [...]
Bad luck hits Ladbrokes as revenues fall May 16, 2010 YOU would think that with this summer’s packed sporting calendar bookmakers would be rubbing their hands together in glee at the prospect of extra wagers on who will win the World Cup or how many goals England will score. But before spread betters try to capitalise on a summer boost for the bookies, it’s worth [...]
THE TIPSTER May 16, 2010 SHARES in Tullett Prebon plunged 12 per cent last Thursday following the announcement that the discussions with a third party about a possible takeover had been terminated. The shares have fallen well below their 200, 100 and 50-day moving averages and currently trade just above their Fibonacci support, around 306p. A break through 300p could [...]
SPREAD BET GURU May 16, 2010 MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, why is a huge budget deficit a problem for the equity markets? A. Spiralling deficits from several countries within the Eurozone and the UK have been one of the main drivers of equity weakness over the past few weeks. Stock traders tend to think about what is coming next [...]
FTSE hits two week high on stronger metal prices, but sentiment is fragile May 13, 2010 BRITAIN’S top stock index hit a two-week closing high yesterday as miners gained, tracking stronger metals prices, but persistent concerns about euro zone debt problems prompted investors to stay cautious. The FTSE 100 ended up 50.28 points, or 0.9 per cent, at 5,433.73, the highest close since 30 April. The blue chip index has gained [...]
