SUMMER FALL MAY SET TONE FOR AUTUMN August 16, 2010 CFD MARKET STRATEGIST, GFT When I set off on holiday two weeks ago, equities were soaring. The S&P was threatening to burst through the top end of a significant band of resistance between 1,124 and 1,130. This is an area defined by the 50 per cent retracement of the fall from the October 2007 high [...]
Weak economy and strong yen offer Nikkei no summer respite August 16, 2010 IT HAS been a tough 2010 for the Japanese stock market, which is already down some 13 per cent so far this year. Its export-oriented companies have suffered from a toxic mix of a surprisingly strong yen, lacklustre consumption in the West and now depressed domestic demand as well. Consequently, Japanese GDP growth between April [...]
THE TIPSTER August 16, 2010 As recent demand for both sterling and the euro wanes while economic uncertainty persists, buyers are taking advantage of the recent falls in the dollar and loading up on greenbacks. This has started to push up the US dollar trade-weighted index. ETX Capital is currently quoting 8241-8249 for the September dollar index. It has been [...]
How to send jet lag packing August 16, 2010 NUTRITION Nutritionist Charlotte Fraser recommends making sure you slot back in with the eating routine wherever you are locally. Consequently, if it’s breakfast time, eat breakfast – whether your body feels as though you should do or not. Flying can be very dehydrating, so make sure you drink lots of water to replenish what the [...]
FITNESS WATCH August 16, 2010 PERSONAL COACH AT FULL POTENTIAL INJURY is perceived as a natural by-product of running. And while it’s true that two out of three runners suffer injury each year, with careful planning, many can be avoided. Follow the advice below to tip the odds in your favour. HAVE THE RIGHT KIT Kit has advanced hugely in [...]
Cable requests Green showdown meeting August 15, 2010 BUSINESS secretary Vince Cable put himself on a potential collision course with the coalition government yesterday as he pointedly refused to endorse retail tycoon Sir Philip Green’s appointment as a government spending tsar. Cable, who is currently on holiday, reiterated his hard-line stance on tackling tax avoidance and said he would look at setting up [...]
Aviva investors tell RSA to up £5bn offer August 15, 2010 INVESTORS in Aviva have said rival RSA must increase its £5bn offer if it wants to walk away with the insurer’s property and casualty business. Aviva immediately rejected the surprise offer for its general insurance arms in the UK, Ireland and Canada, made in a letter from RSA chairman John Napier last month. There are no [...]
Shock as Milburn joins the coalition August 15, 2010 DEPUTY Prime Minister Nick Clegg risked tipping the coalition into all-out war yesterday when he appointed a third former Labour minister as an adviser to the government. In a shock move ultra-Blairite Alan Milburn was named “social mobility tsar”, in a role that appears to encroach on cabinet minister Iain Duncan Smith’s remit. A spokesman [...]
AgBank smashes world IPO record August 15, 2010 A HONG Kong and Shanghai stock market listing of shares in Agricultural Bank of China (AgBank) has become the world’s largest ever initial public offering. AgBank said yesterday it had fully exercised an over-allotment option for the Shanghai portion of the stock market listing, boosting total proceeds from the offer to $22.1bn (£14.2bn). The previous [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 15, 2010 FINANCIAL TIMES PATERNOSTER IS PUT UP FOR SALE Paternoster, the specialist pensions business set up by former Prudential executive Mark Wood, has been put up for sale, with its original backers facing the potential loss of more than half their £500m equity investment. The majority of its backers are seeking an exit from a company [...]
