CITY MOVES | WHO’S SWITCHING JOBS February 8, 2010 Piper Jaffray The mid-market investment banking firm has appointed Nimish Shah as a principal in its US equity sales team. Shah joins after eight years in Cantor Fitzgerald’s US equity sales team, working for FTSE 100 companies including insurer Legal & General and oil giant Shell. He has also previously spent time at the likes [...]
Credit Agricole CIB plans to boost commodity desk February 8, 2010 Credit Agricole Corporate and Investment Bank plans to expand its commodity trading operations and enter the European physical gas and power markets by the end of March, its global head of commodities said. The bank, which has changed its name from Calyon, will have 90 front-office commodities staff by the end of the year, Martin [...]
Recent sell-off reason to buy oil, not short it February 8, 2010 AFTER a week where the price of crude oil futures slid to below $70 a barrel and oil giants disappointed the markets with poor earnings and weak outlooks, contracts for difference (CFDs) traders might be finding it difficult to justify going long on crude right now. The markets are still cautious – sovereign debt crises [...]
IT’S STILL TOO EARLY TO STOP THE STIMULUS February 8, 2010 WE ARE two-thirds of the way through the US fourth-quarter earnings season and 74 per cent of S&P 500 firms that have already reported have beaten analysts’ estimates. A further 9 per cent were in line while 17 per cent of companies fell short. The earnings season has not been good enough so far to [...]
Benefit from yield not price February 8, 2010 THE outlook for the FTSE 100 looks bleak. Lacklustre economic growth and the prospect of rising taxes have all helped push the index down by nearly a tenth since the start of the year. With massive profits unlikely to come from stocks themselves, investors should be looking for good dividend yields. Despite the gloomy outlook, [...]
CFD ANALYST PICKS February 8, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Buy oil at $68 Expertise: Technical analysis Average time frame of trades: 5-10 days Explanation: The oil price has more or less been trading in a choppy consolidation over the past several months, without moving too far in any one direction. While we still see room for additional falls [...]
Rallying miners offset weaker finance firms to help the FTSE 100 edge up February 8, 2010 BRITAIN’S top share index closed 0.6 per cent higher yesterday, as gains in rebounding miners and strength in defensive issues more than offset weaker financials, which were weighed by ongoing eurozone debt issues. The FTSE 100 rose 31.41 points at 5,092.33 in choppy trade. The index fell 2.5 per cent last week, its fourth straight [...]
Eurozone debt concerns push Dow below 10,000 February 8, 2010 THE Dow industrials closed below 10,000 for the first time since November yesterday as investors sold bank shares due to heightened concerns about the eurozone’s sovereign debt troubles. Bank of America shares lost more than three per cent, while JPMorgan slipped 1.6 per cent, and Citigroup shed 2.2 per cent. The S&P financial index dropped [...]
Why City folk are finally taking charge of their teeth February 8, 2010 AS a 16-year-old, braces seemed preposterous enough. If I didn’t have shame about my smile before, I certainly did when sporting train-tracks of metal, elastics flashing with every word I spoke. As for adult braces – well, it was commonly accepted that only youth could carry off the indignity of the oral railroad. The few [...]
VEXED IN THE CITY SOLVING YOUR RECESSION PROBLEMS VEXED IN THE CITY SOLVING YOUR RECESSION PROBLEMS February 8, 2010 DEAR VEXED: I work with a guy that has highly disturbing views about women and minorities – he’s always making quips and I find them really difficult to live with. On one hand I don’t want to start a fight or create tension, but on the other, his remarks have become really bothersome and I [...]
