FOREX ANALYST PICKS August 31, 2010 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short sterling-dollar from $1.5500 and short sterling-Aussie below A$1.7175 Expertise: Combining fundamental and technical analysis Market conditions are highly volatile and generally lacking in conviction about the future direction of markets. This creates a situation where we need to reduce the time frame and objectives of our trades. I [...]
THE TIPSTER August 31, 2010 MUTTERINGS of further intervention by the Bank of Japan are being put to the test by the market, which is betting on the central bank being unable to stem the tide of yen appreciation. There was a temporary weakening back towards the ¥84.60 level against the US dollar following the better-than-expected consumer confidence numbers. However, [...]
Firms’ sanctions compliance must be tightened up August 31, 2010 FINANCIAL regulation reform is all the rage. Last week, President Nicolas Sarkozy unveiled his programme of “action and ambition” for France’s forthcoming presidency of the G20. It puts global reform of financial markets and systems at the very top of the agenda. The US has already passed sweeping reform legislation and the coalition government has [...]
New rules will make reverse takeovers easier August 31, 2010 FIELD FISHER WATERHOUSE IT might have gone under most people’s radar, but new guidance from the UK Listing Authority (UKLA) will have a serious effect on reverse takeovers. Under the Listing Rules, an issuer’s equity shares are generally suspended on the announcement or leak of a reverse takeover unless or until the UKLA is satisfied [...]
Eurozone unemployment remains at record ten per cent August 31, 2010 Unemployment in the eurozone remained at ten per cent for a fifth month in a row, according to official figures. Almost 16m people remain unemployed in the 16 countries that use the euro, the EU’s statistics agency Eurostat said. The agency also reported a fall in the rate of inflation in the eurozone. In August, [...]
Irish Life shares up as losses shrink August 31, 2010 Irish Life & Permanent shrank first-half losses, defying expectations for a bigger shortfall, and said it expected Irish mortgage arrears to peak this year, sending its shares up 12 per cent at one point. Irish Life’s stock was the only bright spot on the country’s financial index on as investors were prepared for yet more [...]
Carrefour profit up 7.6 per cent August 31, 2010 Carrefour, Europe’s top retailer, said the summer sales trend was mixed in Europe but demand was holding up in emerging markets and confirmed it expected operating profit to rise this year. Tight cost control and buoyant emerging markets lifted first-half profit by 7.6 per cent, in line with guidance given in July, the company said. [...]
Markets fall as fears over economic recovery mount August 31, 2010 The FTSE 100 dropped today (Tuesday) led by falls in risk sensitive assets such as banks and commodity stocks as fears intensified over the sustainability of the global recovery. The index shed 61.37 points, or 1.2 per cent at 5,140.19, erasing the 0.9 per cent gain on Friday, as traders returned after the Bank Holiday [...]
888 scraps dividend after World Cup hits poker August 31, 2010 Online gaming firm 888 scrapped its dividend, preserving cash to pay for acquisitions after the weak economy and World Cup sapped appetite for poker games and hit first half profit. “In order to continue investing for future growth, and to support potential acquisitions, the board has decided not to declare an interim dividend,” Chief Executive [...]
Hermes in 52 per cent profit jump August 31, 2010 French luxury goods group Hermes has posted a 52 per cent rise in first-half operating profit, boosted by leather goods, and slightly raised its financial targets for the full year. Profit rose to 304.5m euros (£250.6m) in the first six months of the year from 199.8m euros a year ago, Hermes said. Net profit rose [...]
