‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
THE TIPSTER December 14, 2009 NEWS that British Airways’ cabin crew has voted in favour of strike action, combined with the state of the airline’s pension scheme has put further downward pressure on the airline’s share price. On a technical level, shares are currently blocked from any further progress by a resistance line in place on the daily chart since [...]
Despite Dubai’s rescue, traders’ concerns over debt persist December 14, 2009 THE news yesterday that Abu Dhabi had bailed out Dubai to the tune of $10bn gave indices across the world an extra boost. Adding to the good news in the market was Citigroup’s proposal to pay back the US government the money it owes, including an issue of $17bn of stock immediately. No doubt Citigroup [...]
RISING YIELDS TO UPSET THE RECOVERY December 14, 2009 DAVID MORRISON CFD MARKET STRATEGIST, GFT JUST over a week ago we had a non-farm payroll number which blew away all analysts’ expectations. The reaction in the financial markets was sharp, with the dollar, bond yields and equities all shooting higher. While this was a rational response to good numbers, it wasn’t the reaction we [...]
Exxon deal boosts hopes for M&A December 14, 2009 US stocks closed at 14-month highs yesterday as Abu Dhabi’s $10bn (£6bn) in aid to help Dubai avoid default eased concerns and a takeover deal by Exxon Mobil Corp raised optimism about mergers and acquisitions activity. Citigroup plan to repay the U.S. government about $20bn in bailout funds also helped buttress the buoyant mood a [...]
London rises to highest close in 3 weeks on Dubai bailout December 14, 2009 BRITAIN’S top share index closed at its highest level in a week yesterday, led by banks, after Abu Dhabi bailed out Dubai with $10bn in surprise aid, with commodities stocks also notching up solid gains. The FTSE 100 closed up 53.77 points at 5,315.34, its highest close since 4 December, adding to a rise the [...]
ECONOMIC DIARY December 14, 2009 MONDAY 14 DECEMBER UK Rightmove house prices (12am) Bank of England Bulletin (12am) Eurozone Third quarter employment (10am) October industrial production (10am) Japan October industrial production (4.30am) TUESDAY 15 DECEMBER UK November RICS house prices (12am) November CPI and RPI (9.30am) October DCLG house price balance Eurozone December ZEW survey (10am) November new car registrations [...]
Markets set to start on the front foot after strong retail sales and sentiment figures December 14, 2009 UK and European markets are set to start the week on the front foot, with the momentum following the continued streak of better-than-expected data out from the States. GFT is quoting the FTSE 100 to open up 10 points from Friday’s close, at a level of around 5,271. The German DAX is also expected higher, [...]
THE TIPSTER December 14, 2009 SPORTS retailer Sports Direct is continuing to do well, rising to as high as 110p last week after opening Monday’s trading session at 102p. The stock lost some ground towards the end of the week, but there could be another recovery to come in the run up to Christmas. ShortsandLongs.com has a rolling spread of [...]
BREAKDOWN IN RISK TRADE NEXT YEAR December 14, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM COUNTRIES’ public finances have dominated the headlines in recent weeks, but there is a good chance that this is just the tip of the iceberg. Whether it is wobbles in Dubai, debt downgrades in Greece, deteriorating outlooks in Spain and Ireland, or a pre-Budget Report in the UK, all of [...]
Punt on pints with the King of pubcos December 14, 2009 ARGUMENTS over beer are nothing new, but it was still interesting this week when brewers Greene King and Fuller’s started arguing about whose beer is the capital’s best-seller. Traditionally, Fuller’s London Pride has held the top spot, but its rival claimed this week that its Abbot Ale has overtaken it. It turns out that Pride [...]
