Analyst picks for 11 June 2012 June 11, 2012 CURRENCY STRATEGIST JOEL KRUGER My pick: Long euro-dollar at €1.246, stop on close below €1.240 Expertise: Technical analysis Average time frame of trades: 1 day to 1 week This past week was rather constructive for the euro, in light of intense selling in previous weeks. A break of a sequence of four consecutive weekly lower [...]
Gold and the Vix: why the two fear indices matter June 11, 2012 FOR the last four years, pictures of traders with their hands on their faces have been a staple of financial newspaper picture desks. And that doesn’t seem to be anywhere near to ending. Markets are jumpy, with the doomed €100bn gamble to bail out Spain’s banks. But volatility and market uncertainty needn’t be traders’ enemy [...]
How the British summer can put your head in the clouds June 11, 2012 Look out of the window. Chances are, it is raining. Just like it was yesterday. The British summer is in full swing, once again failing to live up to its early promise of sunshine and blue skies. The Met Office warns the weather is likely to remain “unsettled” for at least the next month – anyone [...]
Standard Chartered Great City Race diary June 11, 2012 JAMES FATTAL, 25 MEDIA AND COMMS WORKER FOR ALL the hype around the London Olympics, you’d think everyone who has digested any news in recent times will have been inspired to become a health and fitness fanatic. I wasn’t one of them. That was, until I was offered the opportunity to run in the Standard Chartered [...]
Paralympic athlete Sophia Warner is ready for the test June 11, 2012 FITNESS & DIET EXPERT WITH just over two months to go until the start of the Paralympics, 100m and 200m athlete Sophia Warner, who has cerebral palsy, is excited, anxious – and training very hard. I caught up with her to talk training, nerves and multi-tasking. SO HOW ARE YOU FEELING? Really excited but very [...]
Spain gets €100bn for broken banks June 10, 2012 SPAIN’S government bowed to the inevitable over the weekend and asked the Eurozone for a bailout to recapitalise its devastated banks. The Eurogroup backed the request, praising the government’s efforts to reform the economy, and offering up to €100bn (£81bn) from the Eurozone’s bailout funds. The bailout announcement came after a week in which Spain’s [...]
MPs attack Osborne as he passes buck on recession June 10, 2012 GEORGE Osborne was attacked by a Conservative backbench MP yesterday for “wasting two years” pursuing an economic policy that is “not credible”. The chancellor said Britain’s economic recovery “is being killed off” by the Eurozone crisis, calling for the currency area’s governments to pool more sovereignty and transfer more money from strong governments to weaker [...]
It’s time governments stopped bailing out bankrupt banks June 10, 2012 IF you are tempted to celebrate Spain’s bailout, or if you agree with its football-mad PM that it was a “triumph”, a great European “victory”, I would urge you to reconsider. Sure, chucking at least €100bn at insolvent, incompetently managed second-tier Spanish banks will pour oil on stormy Eurozone waters. It will reduce the immediate [...]
Shareholders in Bankia gear up for lawsuit June 10, 2012 SPANISH shareholder group AEMEC said over the weekend that more than a thousand investors have shown an interest in pursuing a civil claim against bailed-out caja conglomerate Bankia. Shareholders allege irregularities in the way its stock market listing was handled, according to their lawyers Cremades & Calvo-Sotelo. Spain’s public prosecutor last week launched an anti-corruption [...]
French left set for majority in parliament June 10, 2012 FRENCH President Francois Hollande was on track for a Socialist-led majority in parliament after a solid win in a first-round vote yesterday that should free him from having to rely on hard leftists hostile to European integration. Hollande’s Socialist bloc looks likely to win the 289 seats needed for an outright majority in the 577-seat [...]
