Analysts call for a flight to quality in 2012 stock picks January 2, 2012 EUROPEAN equities look cheap but investors should tread cautiously in 2012, paying premium prices to target high-quality stocks, analysts have said. The market sell-off in the second half of 2011 left many shares undervalued, but investors should target solid companies with a good dividend yield as the market uncertainty and volatility is expected to continue. [...]
Squeeze on income tightens as most workers see their pay frozen or cut January 2, 2012 A MAJORITY of employees across all sectors saw their pay either frozen or cut last year, according to a study by the Chartered Institute of Personnel and Development (CIPD). Nearly half, or 48 per cent, of workers had their pay frozen in 2011, while five per cent saw their remuneration reduced. Fewer than one in [...]
ANALYST VIEWS: WHICH STOCKS ARE LIKELY TO PERFORM IN 2012? January 2, 2012 MICHAEL SHILLAKER | CREDIT SUISSE “In metals and mining, capex and cash returns will remain the market’s key focus. We see Rio Tinto as most likely to raise the dividend structurally, and Xstrata as the most undervalued relative to its long-term growth profile.” DAVID MCCANN | NUMIS “Our top asset management picks are Aberdeen and [...]
Codelco exercises Anglo option January 2, 2012 Chile’s state copper giant Codelco, the world’s top copper producer, said yesterday it had exercised its disputed option to buy a 49 per cent stake in global miner Anglo American’s southern Chilean properties. Codelco is locked in a legal dispute over the option with Anglo, which surprised Codelco and investors last year by announcing it [...]
Eurex sees derivatives trade up January 2, 2012 Derivatives trading platform Eurex saw 2.8bn contracts traded in 2011, an increase of seven per cent on 2010’s level, it said yesterday. More than 11m contracts were traded on average each day, up from 10.4m per day in 2010, as both the amount traded on the Eurex Exchange and those traded on the International Securities [...]
CITY MOVES | WHO’S SWITCHING JOBS January 2, 2012 Bank of Ireland Bank of Ireland has appointed Patrick Mulvihill and Pat Butler as non-executive directors. Butler (pictured), who will join the bank’s risk committee and the nomination and governance committee, is a partner at Resolution Group and a former senior director of McKinsey & Co. Mulvihill, who will join Bank of Ireland’s risk committee [...]
BEST OF THE BROKERS January 2, 2012 MAX PETROLEUM Following a dry hole at SAGW-2, Merchant Securities rates the Kazakhstan-focused oil & gas company as a “buy” with a target price of 25.2p. The broker limits its valuation of Sagiz West due to the dry hole, taking into account only proven and probably reserves for that field of 4.8Mb, and leading to [...]
Global stocks start 2012 with an upswing but experts are forecasting a New Year hangover January 2, 2012 EUROPEAN stocks ended higher in their first trading session of the year yesterday, led by defensive utilities such as E.ON and GDF Suez, while volumes were anaemic as UK and US markets remained closed for the New Year holiday. The handful of Asian markets that opened yesterday gave a more patchy performance, and analysts warned [...]
Revive your trading with death crosses January 2, 2012 BEFORE the bottom fell out of the S&P 500 last August, alert traders were given a sign in the data that something was about to give. In the last few days, a similar warning has come to watchers of gold price charts, suggesting the yellow metal will decline in value over the coming days and [...]
Analyst picks for 3 January 2012 January 2, 2012 FOREX STRATEGIST JOEL KRUGER My pick: Looking to buy euro-Australian dollar Expertise: Technical analysis Average time frame of trades: Multiweek This market is trading near 20-year lows and is very close to retesting the record Au$1.2500 lows from 1989. Short-term, medium-term and longer-term studies are all looking stretched and we will look for an opportunity [...]
