City Moves for 10 June 2014 | Who’s switching jobs June 9, 2014 Allianz Global Corporate & Specialty The corporate and specialty insurance business has announced the appointment of Hayden Baker as a senior financial institutions underwriter for its regional unit in London. He previously held roles at ACE Insurance. Sheffield Haworth The recruitment firm has appointed Jon Regan as global head of electronic markets, prime services and infrastructures. He [...]
Best of the Brokers for 10 June 2014 June 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com 3I GROUP Barclays has kept its “overweight” rating for 3i Group, while increasing the target price to 485p. The broker thinks there is a chance of higher capital returns and a pipeline for asset management expansion at the firm. COCA COLA HBC Deutsche [...]
London Report: FTSE near to a record high on global pick-up June 9, 2014 BRITAIN’S top share index extended its gains and closed near a record high yesterday, led by mining companies, amid signs a global economic recovery was picking up speed. The UK mining index rose 0.4 per cent, making it the biggest sectoral gainer in the FTSE 100 index. The gains came after China, the world’s biggest [...]
New York Report: Markets riding fresh peaks as fear index lifts June 9, 2014 THE Dow and S&P 500 ended at record highs again yesterday as more deal news raised enthusiasm for stocks, though Wall Street’s fear gauge advanced. It was a fourth straight record closing high for the S&P 500 and a third for the Dow. The gains, though, have been moderate in most recent sessions and volume [...]
The labour squeeze: How slow reform threatens Abenomics June 9, 2014 More QE cannot be a substitute for labour market reform JAPANESE shares hit a three-month high yesterday, boosted by an upward revision to first quarter GDP and Friday’s strong US jobs report. The Japanese government announced that the economy grew at an annualised 6.7 per cent in the first quarter, up sharply on the initial [...]
Trading the World Cup: Shrewd betters look to Argentina June 9, 2014 THE WORLD Cup kicks off in Brazil this Thursday, and some put the figure that is going to be wagered at a cool £1bn. It’s an extraordinary number, and quite what the bookmakers’ liabilities are on a win for the favourites Brazil is anyone’s guess. With raucous home support, and star names like Neymar, David [...]
CNBC Comment: The truth behind the index of fear June 9, 2014 HERE we go again. We heard more gumpf last week about the precipitous decline of the Vix market volatility index, and how the “Index of Fear” has fallen to seven-year, pre-crisis lows. Maybe if I say “Index of Fear” enough times I can convince myself, and anyone reading this column, that it is a big, [...]
DailyFX Tips & Picks: Why the ECB’s rate cut left many traders disappointed June 9, 2014 With the ECB lowering the overnight deposit rate to negative territory last week, many traders were left disappointed. Euro-dollar did not break lower. The reason was market expectations and risk reward ratios, which many fail to take into account when trading. Markets are forward-looking: people take positions today, expecting a specific outcome in the future. [...]
DailyFX Tips & Picks: Analyst’s pick June 9, 2014 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Waiting for euro-dollar, euro-yen range breaks Expertise: Fundamental and technical analysis with risk management Average time frame of trades: A few days to a few weeks The ECB has dampened stimulus speculation as a driver for the 18-member currency, so we turn our attention back to the charts for [...]
Letters to the Editor – 10/06 – Pension reforms, Sharing economy, Best of Twitter June 9, 2014 Pension reforms [Re: I’m proud of my pension reforms: They will make saving worthwhile again, yesterday] Steve Webb’s reforms may give him much to be proud of, but he has failed to give enough detail about how some will be enacted. He says “the pooling of risk”, presumably these new collective schemes, will be compatible [...]
