Fiscal face-offs offer a silver lining to pound’s feeble state March 30, 2010 ONE lasting impact of this recession is that it has named and shamed those economies that have unsustainably high fiscal deficits. This is a major theme for the foreign exchange markets since traditionally high debt levels have meant weak currencies for the countries involved. Among those which will continue to be weak are the US [...]
DOLLAR RALLY AGAINST YEN TO CONTINUE March 30, 2010 WHILE the currency world was fixated on the euro and the Greek drama unfolding in Brussels last week, the stealth story in the market was the sudden rise in US dollar-yen which came close to hitting yearly highs as US interest rates spiked unexpectedly. Relatively weak US Treasury auctions sent yields on the 10 year [...]
FOREX FLASH March 30, 2010 CHINESE REVALUATION SAGA CONTINUES BlueGold Capital Management’s Stephen Jen said yesterday in a client note that China may refloat the yuan next month to counter the criticism that it is giving its exporting firms an unfair advantage. A revaluation “should help diffuse much of the risks associated with trade protectionism and allow China to resume [...]
The Tipster March 30, 2010 AN UPWARD revision to the UK’s fourth quarter GDP figure helped to boost sterling yesterday. The upward revision was due to stronger output in the construction and manufacturing sectors. Sterling received another boost from credit rating agency Standard and Poor’s which maintained its triple ‘A’ rating on the UK, which bodes well for sterling in [...]
FTSE 100 is dragged down by banks despite healthy UK economic recovery March 30, 2010 BRITAIN’S top share index ended 0.7 per cent lower yesterday, dragged down by banks, which extended the previous session’s losses, in thin trading ahead of the Easter break. The FTSE 100 index ended down 38.34 points at 5,672.32, having closed above 5,700 for the last three sessions. The index hit a 21-month intra-day peak at [...]
Report of a new Apple iPhone boosts US stocks March 30, 2010 US stocks rose in a slow session yesterday on data showing more stabilisation in the economy, while Apple rallied on a report that it was developing a new iPhone. With the S&P 500 now up 73.4 per cent from the March 2009 bottom and on track for a fourth straight quarterly gain, investors chose to [...]
Take a global view for the best returns on your ISA March 30, 2010 IF you want to make the most of your ISA allocation, then you had better get your skates on: tomorrow is your last chance this year. Of course, the principles of picking a fund are the same as any fund-picking. As ever, diversification is the key when it comes to long-term investment planning, so it [...]
Calvert verdict convinces City FSA has teeth March 30, 2010 THE recent conviction of Malcolm Calvert was the third successful criminal prosecution of insider dealing brought by the FSA and two further such prosecutions are ongoing. Significantly, the first FSA insider dealing criminal prosecution was not until 2008 and it is evident they the regulator is now intent on ramping up criminal prosecutions and have [...]
Brokers should learn caution from Tullett case March 30, 2010 TULLETT Prebon’s recent victory over BGC in the High Court was hailed by Tullett as a triumph for the “framework of law” over disrespect for contractual obligations. But is the decision really that black and white? And does it indicate a greater willingness by the courts to intervene to protect employers when employees depart for [...]
Miners and Vodafone help FTSE 100 book gains as Carphone goes it alone March 29, 2010 BRITAIN’S top share index ended 0.1 per cent higher yesterday as gains in miners on the back of firmer metals prices and a stronger Vodafone outpaced falls in banking stocks. The FTSE 100 closed 7.64 points higher at 5,710.66 after falling 0.4 per cent on Friday. The index has gained more than 12 per cent [...]
