City Moves for 08 April 2014 | Who’s switching jobs April 7, 2014 Barclays The bank has announced the appointment of Karl Trumper as head of trade and working capital for the UK. He joined in 2002, and was most recently head of sales for larger business. Towers Watson Tammy Richardson has been appointed UK head of insurance management consultancy at the professional services company. She joined in [...]
Best of the Brokers for 08 April 2014 April 7, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com GULF MARINE SERVICES Canaccord Genuity tells investors to “buy” the newly listed oil service vessel operator and has set a target of 185p. The Abu Dhabi based firm has one of the youngest fleets in the industry and Canaccord said it has the [...]
London Report: FTSE suffers its sharpest daily fall in a month April 7, 2014 BRITAIN’S top equity index had its biggest one-day decline in a month yesterday, retreating from a three-week high as a drop by housebuilders weighed on the market. The blue-chip FTSE 100 index, which rose 0.7 per cent on Friday to reach its highest point in around three weeks, closed down by 1.1 per cent, or [...]
New York Report: Slump in tech shares weighs on the Nasdaq April 7, 2014 US STOCKS fell yesterday, with the S&P 500 posting its biggest three-day drop in two months, as investors bid down internet stocks and rotated into defensive names to protect against further declines. Internet stocks were among the day’s biggest decliners with Amazon down 1.6 per cent and Yahoo off 3.5 per cent. The Global X [...]
Letters to the Editor – 08/04 – Stamp duty reform, Crowdfunding rules, Best of Twitter April 7, 2014 Stamp duty reform [Re: Why it’s time to focus on the real cost of the housing crisis, yesterday] The government should switch payment of stamp duty to when someone sells a property, not when they buy. First-time buyers could use the money towards a deposit, and those in the middle of a chain would not [...]
CNBC Comment: Investors beware as banks go coco loco April 7, 2014 INVESTING in banks has become as chancy as having a flutter on the Grand National. False starts, stewards inquiries and the City equivalent of leaping 30 fences – all enlivened by thundering competition. But investors still harbour the hope of backing an unlikely winner. The trade in cocos, a hybrid of debt and equity, has [...]
DailyFX Tips & Picks: Sterling strength and the beggar thy neighbour strategy April 7, 2014 THE BRITISH pound has risen 10 per cent against the US dollar, 6 per cent against the euro, and 11 per cent against the Japanese yen since July of last year. While strength in an economy is generally a good thing, this time may be a little different. The trouble comes from the “what’s next” [...]
DailyFX Tips & Picks: Analyst’s pick April 7, 2014 CHIEF STRATEGIST JOHN KICKLIGHTER My pick: Euro-dollar below $1.3650, sterling-yen below ¥169.25, long dollar-Loonie Expertise: Fundamental and technical analysis with risk management Average time frame of trades: One day to one week Risk trends and relative monetary policy are two themes dominating the foreign exchange trading landscape. The best set-ups should fit both. Euro-dollar is [...]
How social trading levels the field April 7, 2014 The wisdom of crowds looks set to bridge the gap between retail and institutional investors TRADING is no longer a matter of just staying on top of major data prints and corporate releases. As this year’s emerging market crisis demonstrated, economic ripples in far-flung corners of the globe can quickly become market tsunamis. And when [...]
Are troubles in China a significant risk to the global economy? April 7, 2014 YES George Magnus AMID the market fragility of recent years, China has been an island of security. But growth is falling and a nascent credit bubble, which the People’s Bank of China (PBoC) is trying to quell with tough new measures, are starting to play on the nerves of investors. The fall in the renminbi, [...]
