Lack of plan to fix Euro debt crisis hits banks and miners October 17, 2011 BRITAIN’S leading share index closed lower yesterday, giving up early gains, as miners and banks went in to reverse after hopes for an imminent solution to Europe’s debt crisis were dashed by comments from Germany’s finance minister. Wolfgang Schaeuble played down heightened expectations that European governments will resolve the region’s sovereign debt crisis at a [...]
Fear gauge up as US stocks plunge October 17, 2011 US stocks suffered their worst loss in two weeks yesterday after comments from Germany’s finance minister caused investors to fear Europe’s solution to its debt crisis may not come fast enough. The S&P index had risen for two straight weeks for the first time since July, riding a wave of euphoria built on optimism that [...]
Shock margin hikes can hurt commodity traders October 17, 2011 WHILE looking at trends in chart patterns is always a useful exercise when dealing with commodities, it is important that it is not the be all and end all of a trader’s strategy. Of course there are global macro influences that can drive commodity prices – copper being driven as a proxy for infrastructure building, [...]
CHINA FACING WALL IN HUNT FOR GROWTH October 17, 2011 INVESTORS have placed considerable faith in China over the past few years. Many remain convinced that the country’s growing middle class (estimated to be around 300m people) is ready to step in and take up the slack as US and European economies slow. But while China’s economic growth is likely to continue to outstrip that [...]
Beware of the dragon if you trade copper October 17, 2011 COPPER has been rallying on the back of hopes that the politicians of Europe might carve out a plan to avoid the systemic sovereign and banking crisis that threatens the continent. But as important as European salvation is, the linchpin of copper’s price lies thousands of miles away in China. ENTER THE DRAGON Metal Bulletin’s [...]
THE TIPSTER October 17, 2011 OVER the course of September, gold saw its price drop 11 per cent, which was its biggest slump in three years. However, with renewed fears that European leaders have bitten off more than they can chew regarding the debt crisis, we could see traders return to the trusty safe haven. The yellow metal is also [...]
G20 and US earnings set to be positive catalysts October 16, 2011 AREVIVAL in hopes that the Eurozone crisis can and will be contained will continue to spur stocks higher this morning. The mood of the market certainly seems to be leaning towards the positive, and that will likely be reinforced by news from Paris at the weekend that the G20 have agreed that the IMF should [...]
WALL STREET WEEK AHEAD October 16, 2011 THE coming week is likely to be crucial for the direction of financial markets until year-end, with Eurozone stability at stake as well as the latest test of the one bright spot for investors, corporate earnings. In the case of the Eurozone, there is talk of a “binary” moment next weekend in which a European [...]
FTSE 100: Trading in a channel October 16, 2011 FOR weeks the FTSE 100 has been trading in a channel – proffering clues on price action for spread betters. The UK index has certainly seen its fair share of ups and downs over the years. From its 1984 base level of 1,000 it peaked at 6,950.6 on 30 December 1999. The financial crisis saw [...]
THE WEEK AHEAD October 16, 2011 COMPANY NEWS ● On Wednesday, Diageo will hold its AGM where it will make its interim management statement. If the £1.6bn that the drinks company spent on emerging market acquisitions has paid off, then shareholders will be celebrating with doubles all round. ● In Petrofac’s interim management statement on Thursday, it will be hoping to [...]
