BEST OF THE BROKERS May 24, 2011 BT UBS has upgraded the telecommunications company to a “buy” and has raised its target price to 230p. The broker has raised its earnings per share forecast ahead of consensus, and notes the firm’s positive earnings growth, which contrasts with mobile-driven earnings cuts for other telecoms firms. UBS is also upbeat about BT’s pensions deficit, [...]
FTSE rallys on commodities but Eurozone doubts linger May 24, 2011 BRITAIN’S top shares rose yesterday as rallying commodity stocks helped the index recover some of its poise, but the advance may be short-lived as investors find themselves hemmed in by Eurozone debt concerns. The FTSE 100 closed up 22.52 points or 0.4 per cent at 5,858.41, having hit a two-month closing low on Monday after [...]
Manufacturing dip affects US shares May 24, 2011 US stocks dipped in light volume yesterday as lingering concerns about a slowdown in growth more than offset gains in energy shares. Investors kept trimming large-cap technology positions, pushing the tech-heavy Nasdaq Composite lower. The S&P energy sector index rose 1.3 per cent, while its industrials index slipped 0.6 per cent, sending the market down [...]
Forex traders can get a free education if they go online May 24, 2011 THERE is no shortage of online information for forex traders, whether through newswires, providers, dedicated websites, blogs or Twitter. Our favourite, of course, is cityam.com, which you should all visit. Here are some others. WORD ON THE FX STREET Kathleen Brooks of Forex.com says “the Reuters market reports along with FX Street and the Bloomberg [...]
THE PROBLEM WITH THE EURO IS IN THE CORE May 24, 2011 AS CURRENCY markets opened this week in Asia, euro-dollar traders were already on edge, after the Socialists lost badly in Spain and Standard & Poor’s (S&P) downgraded Italy’s sovereign debt. In a report published over the weekend, the ratings agency affirmed Italy’s A+ long-term rating and its top-ranked A-1+ short-term rating but lowered the credit [...]
THE TIPSTER May 24, 2011 A SURPRISE shortfall in tax receipts and news that the Chinese downgraded UK sovereign debt took the shine off sterling in yesterday’s trade, but there’s little reason to be cheering the euro now, either. Eurozone debt concerns remain high and even the release of some marginally better than expected economic readings from Germany isn’t going [...]
Stopping the rot: Eurozone contagion May 24, 2011 GLOBAL REACH PTNRS MARK THOMPSON The resurgence of Eurozone sovereign debt fears has driven the euro to two month lows against the dollar in the last two trading sessions and looks likely to keep the common currency under pressure in the days to come. Investors are right to be anxious about the implications of further [...]
FOREX ANALYST PICKS May 24, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short euro-dollar; Short Australian dollar-dollar Expertise: Fundamental and Technical Analysis with Risk Management Average time frame of trades: 1 day to 1 week The long dollar-Swissie position above SFr0.88 has been slow to gain ground; but clear bearish breaks for euro-dollar below $1.4000 (with a 175 point stop and [...]
Mapping out the direction of this year’s Mifid review May 24, 2011 IT’S simple really. The outcome of Mifid II will include: more stringent regulation of best execution obligations, a move towards the introduction of a consolidated tape, an increased push for transparency, a higher number of trades at a higher speed, lower fees, tighter spreads, the introduction of a single passport to give improved access to [...]
DATA ANALYSIS KEY TO THE STRUCTURED FINANCE RECOVERY May 24, 2011 ABSXCHANGE EMEA COMMERCIAL MANAGER STANDARD & POOR’S VALUATION & RISK STRATEGIES IN the past decade, the European structured finance market has undergone radical change. The global economic downturn was the most severe stress test for securitisations in decades. Indeed, the fallout from the collapse of US residential mortgage backed securities (RMBS) and collateralised debt obligations [...]
