The need for returns is still driving investors into equities February 5, 2013 MARKETS finally saw a sell off this week, as investors decided that discretion was possibly the better part of valour, and concluded that booking profits might be the thing to do. On the basis that nobody ever got sacked for taking a profit, it is understandable that funds, which have generally had a tough time [...]
FTSE knocked by downgrades and euro jitters February 4, 2013 BRITAIN’S top share index suffered its biggest one-day fall in three months yesterday, as growing political uncertainty elsewhere in Europe and a string of analyst downgrades sparked a wave of profit taking. The growing popularity of former premier Silvio Berlusconi ahead of elections in Italy and a corruption scandal in Spain fanned concerns that political [...]
US stocks slide as downgrades pull back gains February 4, 2013 US stocks slid yesterday, giving the S&P 500 its worst day since November, as renewed worries about the Eurozone crisis caused the market to pull back from recent gains. Shares of McGraw-Hill shed 13.8 per cent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the US Justice Department [...]
Avoid getting in a spin about the great rotation February 4, 2013 AS THE equity markets surge onwards, many are calling the beginning of the great rotation – the point when retail investors finally rotate out of the perceived safety of cash and bonds, and back into the stock market. Talk of the great rotation has occasionally made it into analyst notes over the last couple of [...]
BP’s difficulties may be behind it February 4, 2013 Chief Market Strategist, Cantor Index THE moment John Browne became chief executive of BP, the company’s fortunes went from strength to strength. Lord Browne, as he is today, orchestrated two very shrewd initiatives – the oil giant’s merger with Amoco in 1998, and its acquisition of ARCO (Atlantic Richfield Company) in 2000. The world was [...]
The Tipster | Bad reception at Vodafone February 4, 2013 TRADERS were rattled when Vodafone was downgraded by two brokers yesterday, over concerns about its revenues from Europe. And the telecoms giant may be in for an icy reception when it delivers its interim management statement on Thursday. Speculation is mounting that it may need to acquire other businesses to compensate for its shortcomings. GFT [...]
Banks cast off Eurozone insurance February 4, 2013 THE longer term refinancing operation (LTRO) – the European Central Bank’s (ECB) original miracle drug for the liquidity constraints dogging the Eurozone – has reached a crossroads. The banks that first took the pill now want to prove the dosage should be reduced, or stopped altogether. The hope is that reduced budget deficits, increased competitiveness, [...]
Analyst picks for 5 February 2013 February 4, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen and euro-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days The euro is appreciating rapidly; the European Central Bank is the only major central bank that is reining in its balance sheet. The most noticeable divergence has been [...]
Ocado to reveal its progress on road to profits February 3, 2013 OCADO will be in the spotlight this week as the online grocer reveals whether it is edging closer to making a profit. The firm has recently hired Sir Stuart Rose as chairman and is also gearing up to open a second distribution warehouse in Warwickshire. Ocado, which was founded in 2000, is yet to go [...]
Great rotation may be just a bullish January February 3, 2013 WALL Street’s current jubilant narrative is that a rush into stocks by small investors has sparked a “great rotation” out of bonds and into equities that will power the bull market to new heights. That sounds good, but there is a snag: The evidence for this is a few weeks of bullish fund flows that [...]
