US economic stalemate sees markets dip December 4, 2012 US stocks finished slightly lower in a quiet session yesterday as the back-and-forth wrangling over the “fiscal cliff” gave investors little reason to act. Trading volume was light as legislators continue to negotiate a deal to avoid a $600bn (£372bn) package of tax hikes and federal spending cuts that would begin 1 January and could [...]
Crunch week to set the tone for sterling in 2013 December 4, 2012 IT IS a crunch week for the great British pound. The currency will be pushed and pulled by both monetary and fiscal forces. The market has been waiting with bated breath for today’s Autumn Statement, when chancellor George Osborne will outline his fiscal strategy to kick-start the UK’s ailing economy. There is also a chance that [...]
FTSE lifted by mining stocks but gains eroded by US economic data December 3, 2012 BRITAIN’S top shares posted modest gains yesterday, helped by strength in heavyweight mining stocks after data showed China’s manufactur-ing sector expanded for the first time in over a year. But strong earlier gains were eroded in the afternoon after disappointing US manufacturing data raised concerns over the health of the world’s biggest economy just as [...]
US stocks sour after lacklustre factory figures December 3, 2012 US stocks struggled to extend the previous week’s gains, dropping on Monday as disappointing US factory numbers dampened optimism about China’s economic growth. The declines broke a three-day streak of gains for the S&P 500, keeping it shy of its 50-day moving average of about 1,420, a level that the index has been below since [...]
Flood-hit UK to face record wheat prices December 3, 2012 CROP failures in Britain and globally are pushing grain prices to record highs. Floods in the UK have forced it to depend on foreign grain imports. The country is expected to import more than 2m tons of wheat in the 2012-2013 season – a 30 year high. But prices have also been driven up by [...]
How the US jobless data could affect the markets December 3, 2012 ONCE a month, the US non-farm payrolls are released. They typically bring a bout of volatility to many asset prices – a move that is widely welcomed by derivatives traders, who have at times found themselves contending with relatively flat markets. The number is usually released on the first Friday of the month – the [...]
Stagecoach to Steam ahead December 3, 2012 TRAVEL firm Stagecoach will signal whether its joint venture with Virgin is on track when it submits its interim statement tomorrow. The current franchise is due to expire this month, but traders seem positive and shares have steamed ahead by over 25 per cent since lows in May. Spreadex quotes a price of 291.7p-293.8p for [...]
More Yuletide misery for the City December 3, 2012 DECEMBER signals the advent of Christmas: a time for celebration, relaxation, and over-indulgence. But less so this year. The last 12 months have been terrible for those plying their trades in London’s Square Mile. Those who still have a job should be grateful. The City has been butchered this year, and more than a few [...]
Analyst picks for 4 December 2012 December 3, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen and gold Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days I remain long on dollar-yen from ¥80.65, looking for a move towards ¥83.75 before I take profit. To hedge this position, I opened a long position on gold [...]
Stage set for more austerity as the chancellor gives Autumn Statement December 2, 2012 THE biggest news of the week will come from chancellor George Osborne on Wednesday, when he delivers his Autumn Statement. Osborne has already revealed he will be continuing Britain’s austerity drive, saying in a television interview that to turn back from the policy now would be “a complete disaster for our country”. His half-yearly financial [...]
