Best of the Brokers for 24 September 2013 September 23, 2013 GULF KEYSTONE Canaccord Genuity retains its “hold” rating for Gulf Keystone but has raised its target price to 216p from 210p. The analyst says extra funding will be needed for production growth at the Shaikan field. HOCHSCHILD MINING UBS has retained a “neutral” rating for Hochschild Mining but increased its price target from 215p to [...]
London Report: Banks lead FTSE down on doubt about Fed policy September 23, 2013 BRITAIN’S top share index fell yesterday, led down by banks on uncertainty over the timing for an expected scaling back of US Federal Reserve monetary stimulus. Aberdeen Asset Management, among the top risers earlier yesterday after saying it expected to meet profit forecasts, pared back its gains to trade up 0.3 per cent. Traders noted [...]
New York Report: US stocks slide for three days over stimulus September 23, 2013 US STOCKS declined for a third straight session yesterday as Federal Reserve officials suggested the Fed could still begin scaling back its stimulus later this year. A looming political deadline in Washington added to pressure on the market, where losses over the past three sessions have erased the S&P 500’s 1.2 per cent gain last [...]
RBS’s mad rise and catastrophic fall can’t all be blamed on Fred Goodwin September 23, 2013 IN THE boom years at the start of the twenty-first century, the Royal Bank of Scotland management came up with a marketing slogan. They would – it promised customers and rivals – “Make It Happen”. In giant type, the words were emblazoned on airport billboards and printed on tons of promotional material. A four minute [...]
Ed Miliband wants to take Britain on a stealthy path towards socialism September 23, 2013 WHEN will you bring back socialism?” Ed Miliband was asked on Saturday. “That’s what we’re doing, sir…” Miliband replied. “…democratic socialism. And what is that about? That is about a country that works for all and not just for some.” Some might question Miliband’s understanding. As the economist Thomas Sowell once said: “Socialism… has a [...]
Merkel’s triumph may mean check mate for Cameron’s EU reforms September 23, 2013 WITHOUT doubt, the German election is the critical political contest of the year. Chancellor Angela Merkel has won the most resounding German electoral victory since 1957, coming a mere five seats short of an absolute majority in the Bundestag, Germany’s lower house. The decisive re-election of David Cameron’s closest European ally must be good news [...]
Letters to the editor – 24/09 – German results, Shady chancellor, Best of Twitter September 23, 2013 German results [Re: What Germany’s shock election results mean for UK politics, yesterday] I would go a lot further than saying that “David Cameron is no Angela Merkel”. In fact, the Prime Minister is quite the opposite of Merkel. He has no clear vision to offer voters, and his personal popularity is a shadow of [...]
Markets muted after German poll September 23, 2013 But the probable outcome of a CDU/CSU grand coalition with the SPD may bring a long-term shift GERMANY has voted, and despite Angela Merkel’s triumphant showing, a “grand coalition” between her Christian Democrat alliance (CDU/CSU) and the Social Democratic Party (SPD) has emerged as the most likely outcome. Euro-dollar initially rose to $1.3546 in early [...]
CNBC Comment: Why active funds struggle to outperform September 23, 2013 IT’S ONLY 91 days until Christmas and, for the movers and shakers in the fund management industry, we’re close to “squeaky bum time”. This is when we begin to see who has delivered the goods, and who has to start lining up their excuses for another year of underperformance. Yet unlike in the Premiership title [...]
Daily FX: Analyst picks September 23, 2013 QUANTITATIVE STRATEGIST DAVID RODRIGUEZ My pick: Long dollar-yen Expertise: System trading Average time frame of trades: 2 to 10 weeks The dollar fell sharply against the Japanese yen and broader counterparts on the Federal Open Market Committee’s (FOMC) “no taper” call. But the fact that dollar-yen quickly recovered is telling. The pair remains in a [...]
