St Ives says sales starting to improve November 30, 2010 BRITISH printer St Ives said it had made a good start to its current financial year and had made further progress in reversing the decline in sales in the prior year. Sales for the 13 weeks ended 29 October were broadly in line with the same period a year ago, the book and magazine publisher [...]
Vedanta will delay $1.1bn copper float November 30, 2010 LONDON-listed Indian miner Vedanta has delayed an initial public offering (IPO) of its Zambian copper business until next year, citing stock market volatility. It is the first big European IPO to fall victim to a renewed wave of financial market turbulence brought on by the Irish debt crisis. Earlier this month, Vedanta announced plans to [...]
ThyssenKrupp predicts higher profits in 2011 November 30, 2010 STEELMAKER ThyssenKrupp said it sees profit rising next year, driven by economic growth in Germany and emerging markets, but analysts said its outlook sounded conservative. ThyssenKrupp has benefited from a strong rebound in Germany’s export-driven economy, whose automotive and engineering sectors posted robust profit margins while construction remained weak. The Eurozone’s biggest economy is powering [...]
BEST OF THE BROKERS November 30, 2010 LOGICA RBS has upgraded the firm to “buy” from “hold” with an increased target price of 140p. The broker says Logica’s recent third quarter results point towards continued growth next year, and has raised its earnings per share estimate for 2011 by three per cent. It adds that the firm’s commitment to lower its gearing [...]
Scandinavian successes are tempting to traders November 30, 2010 FOR weeks now traders have described the choice of safe haven currencies as an “ugly contest.” The dollar, yen and euro all have their flaws, so traders have begun to stray. As unlikely as it seems, some have begun to suggest that Sweden could be the answer. Despite the recent slight dollar rebound (see chart) [...]
IMPROVING US PROSPECTS MAY AID EURO November 30, 2010 AT THE start of this week’s trading the FX market was gripped by fears of sovereign debt default contagion as traders continued to worry about the prospect of another financial bailout of the Iberian peninsula. Despite an €85bn rescue of Ireland, investor confidence remained shattered as euro-dollar slid towards the 1.3000 level on fears that [...]
Crisis limits Eastern European FX’s upside November 30, 2010 FOR more than a decade, eastern European countries enviously looked west, chasing the desirable single currency membership that would signal that they had shaken off their Soviet-era shackles and were at a critical stage in their economic and political development. After more than 10 years of trying to achieve acceptance to the exclusive club that [...]
FOREX ANALYST PICKS November 30, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Long euro-Aussie dollar at AU$1.3700 Expertise: Technical analysis Average time frame of trades: 1 month-12 months We are already long sterling-kiwi from the previous week (long at NZ$2.0500), and we have just established a fresh long on this correlated cross which trades near multi-year lows. The monthly relative strength [...]
THE TIPSTER November 30, 2010 THE bullish tone of the Australian dollar against the greenback during September and October has waned and the dizzy heights of $1.0160-70 at the start of this month now seem a long way away. The Aussie dollar is likely to be influenced by risk sentiment and month-end flows, both of which should be negative over [...]
Getting the green by going green: time to invest in alternative energy November 30, 2010 AT THE last climate change summit, in Copenhagen in 2009, most world leaders felt duty bound to attend, including Barack Obama, who flew in for the last day. This year the summit is a lot closer for Obama, in Cancún, Mexico, but the President does not feel like making the trip. Neither, for that matter, [...]
