New York Report: Nasdaq breaks 4,000 for first time in 13 years November 25, 2013 THE DOW industrials eked out a slim gain yesterday to end at another record high, after the Nasdaq topped 4,000 for the first time in 13 years and then slipped to close below that level. Wal-Mart Stores shares rose 0.8 per cent to close at $80.43, off an all-time intraday high of $80.57 after the [...]
The winners and losers from Iran nuclear deal November 25, 2013 While oil prices may decline and safe havens could lose favour, not everything hinges on diplomacy The Iranian nuclear agreement, struck in the early hours of Sunday morning, has been hailed as historic – laying the foundations for a more comprehensive deal in the next year. And markets have bought in to this optimism. Brent [...]
Why understanding risk management is key to trading success November 25, 2013 FOREX trading – like any trading – is not without risk, so education and a sound risk management strategy are key to achieving any level of success. Learning to manage your positions, and to understand leverage and margins, is critical. When you open a trade (or position), it is active in your account and subject [...]
CNBC Comment: Watch out for the IPO boom froth November 25, 2013 CHEER has returned to London’s initial public offering (IPO) market. By the end of October, over $24bn (£14.8bn) had been raised in European IPOs in 2013, more than double the corresponding amount at the same point in 2012. And almost half of 2013’s total was raised on the London Stock Exchange. But investors may want [...]
DailyFX: Analyst picks November 25, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Stay long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks I took half profit on my sterling-yen long position at ¥161.45 (closed from ¥158.30 and ¥160.00), leaving my net long entry at ¥160.80 (from ¥160.16 and ¥161.45). With holiday [...]
US home sales disappoint as they hit 10 month low November 25, 2013 US pending home sales have dropped by 0.6 per cent in October, despite analysts forecasting that they would rise by 1.3 per cent. The previous month's drop looks less severe after revisions, from minus 5.6 per cent to minus 4.6 per cent. In the year to October pending home sales have fallen by 2.2 per [...]
Big Six domestic profits increase but overall profits suffer a drop November 25, 2013 (Ofgem) Ofgem has reported that the Big Six energy suppliers saw domestic profits jump 75 per cent last year. However, the report shows that total profits across supply and generation fell by £133m, or 3.4 per cent, on the previous year. This was a result of generation profits falling more than supply profits rose. Profits increased in [...]
Markets are roaring – Nasdaq hits 4,000 for first time in 13 years November 25, 2013 US indexes are surging on open, as the Nasdaq has passed 4,000 for the first time since September 2000. That follows Germany's Dax reaching a record high, passing 9,300 for the first time. MSCI's All-Country World Index has also moved higher, reaching five year highs. Much of that momentum comes from the successful negotiation of [...]
European Commission tightens corporate tax loopholes November 25, 2013 The European Commission has proposed restricting loopholes in the Parent-Subsidiary Directive in order to clamp down on tax avoidance. Companies will be unable to use differences in the way intra-group payments are taxed across the EU in order to avoid paying tax. The Commission asserts that the Parent-Subsidary Directive will ensure a level-playing field among [...]
Bank mourns passing of former governor Robin Leigh-Pemberton November 25, 2013 The Bank of England's former governor, Robin Leigh-Pemberton, Baron Kingsdown, passed away last night. The central banker was educated at Eton, then Trinity College, Oxford. He would serve as governor from 1983 to 1993, before which he worked as chairman of National Westminster Bank and of several industrial companies. Current governor Mark Carney extended "sincere [...]