FTSE breaks its losing streak as US jobless data provides some cheer October 11, 2012 BRITAIN’S top shares snapped a three session losing streak yesterday, led higher by gains in commodity and financial stocks as a fall in US jobless claims fuelled recovery hopes. The weekly claims figure was the lowest for four years and complemented last week’s fall in US unemployment, providing another piece of evidence that the economy [...]
Apple share drop erases market gains October 11, 2012 US stocks ended flat yesterday after gains brought by a sign of improvement in the labor market were erased in part by a drop in Apple shares after a legal setback in a court ruling. Apple fell two per cent to $628.10 after a US appeals court overturned a preliminary injunction on the sale of [...]
FTSE driven lower by collapse of BAE’s mega-merger with EADS October 10, 2012 GLOBAL growth worries prodded Britain’s top share index lower yesterday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems. London’s blue chip index closed down 33.54 points, or 0.6 per cent, at 5,776.71 as volumes on the index remained light as whole, just 88 per cent of [...]
Chevron profit warning drags Wall St lower October 10, 2012 US stocks fell yesterday, a day after the earnings season opened with Alcoa posting a quarterly net loss and Chevron saying profits would fall sharply in its most recent period. After hitting lows in the early afternoon, stocks briefly trimmed losses after the Federal Reserve said in its Beige Book report that the economy was [...]
Jobs of the Week October 10, 2012 FX TRADING SUPPORT ADMINISTRATOR, CALIFORNIA $200k pa An FX trading support administrator is needed to work with global clients in the retail and institutional FX trading and brokerage markets. You will be keen to progress into management. http://jobs.cityam.com/job/31465 SENIOR OPERATIONAL TAX MANAGER, LONDON £80k-£100k pa A leading bank seeks a tax manager to lead advisory projects. The [...]
Facts about Coral: October 10, 2012 Coral founder Joe Coral, born Joseph Kagarlitsky, set up his first pitches at Haringay and White City greyhound tracks in 1927. It is now part of Gala Coral group, one of Europe’s largest betting and gaming businesses. Coral is the third largest retail bookmaking business in the UK with a market share of approximately 20 [...]
IMF growth gloom and poor data in manufacturing send FTSE lower October 9, 2012 UK shares fell for a second session yesterday, dented by a wary view of Europe’s debt troubles and concerns that gloomy global economic data bodes ill for the upcoming corporate earnings season. Data showed manufacturing output shrank more than expected in August and exports fell steeply, pointing to deterioration both in the domestic and the [...]
Jitters on Wall Street ahead of earnings season October 9, 2012 US stocks fell yesterday, led by losses in technology after brokerage downgrades of Intel and other major companies as worries increased about third-quarter US earnings. Shares of Intel, the world’s largest semiconductor maker, lost 2.7 per cent after negative reports by at least two brokerages. Robert W Baird & Co cut its price target on [...]
The unravelling of China’s exceptionalism October 9, 2012 MARKETS across the world were given a boost yesterday when the Chinese central bank pumped tonnes of liquidity into the country’s banking system for the second time in a fortnight. The People’s Bank of China injected 265bn yuan (£26bn) into the money market via reverse purchase agreements, adding to the 2.418 trillion yuan offered since [...]
Why the Dow industrial and transportation divergence may be ominous October 9, 2012 Dow Theory is becoming hard to ignore. Created by Wall Street Journal founder Charles Dow, it suggests that divergences between the Dow Jones Transportation Average (DJTA) and the Dow Jones Industrials Average (DJIA) indicate future trends in the economy. Deep divergences between the two could mean that the DJTA would prevail, and the DJIA (as [...]
