Spain’s embattled stock index might be about to take a turn for the better October 16, 2012 SINCE last week, Spain’s Ibex 35 has shown a Golden Cross, a pattern whereby the 50-day moving average crosses above the 200-day moving average. When short-term moving averages rise above longer-term moving averages, this Golden Cross pattern usually anticipates higher prices. Conversely, when moving averages cross below longer-term ones the pattern is known as Death [...]
Euro summits tend to follow clear patterns October 16, 2012 GOING into tomorrow’s European summit, there seems to be an air of optimism – even excitement. With positive chatter, you might dare to hope that this summit will be the one where Europe’s politicians finally deliver. This week, confidence has come from economic data showing Eurozone inflation to be stable at 2.6 per cent, as [...]
How to profit from interest rate variances October 16, 2012 WITH many central banks debasing the value of their currency through monetary easing, investors and traders have been struggling to achieve meaningful yields. The euro, dollar and sterling all offer yields near zero (the yen has been in this position for nearly two decades). Factoring in the effects of inflation, investors and traders are effectively [...]
Bentley taps into the need for speed October 16, 2012 It’s pouring with rain as we speed along the autobahn towards the Bavarian Alps. I don’t have the cojones to get anywhere close to the 205mph top speed that this new Bentley Continental GT Speed is capable of, which is a shame because this is the fastest road-going Bentley ever made and we’re on an [...]
Car talk October 16, 2012 The new Turbo S Porsche is a powerful upgrade on the V8 Porsche has introduced a new flagship Cayenne SUV, the Turbo S. The 4.8-litre twin-turbocharged V8 has had its power increased by an additional 10 per cent over the Turbo model. The extra 50bhp translates to a 0-62mph time of 4.5 seconds and a [...]
FTSE 100 up on banking and mining shares October 16, 2012 The blue chip index was up this morning, as investors reacted more positively to US macroeconomic data, consolidating gains in Asia and the US. Mining and banking stocks pushed the FTSE 100 up in early trading, with Lloyds, Evraz, Kazakhmys and Antofagasta leading the blue chip index. Insurer CPP Group topped the FTSE All-Share index [...]
Inflation falls to lowest level in almost three years October 16, 2012 Consumer price inflation fell to 2.2 per cent in September, the lowest level since November 2009. Official figures from the Office for National Statistics said this morning that the rate of inflation fell from 2.5 per cent in August, largely due to the effects from September 2011’s utility bill rises dropping off. The ONS said [...]
European car slowdown weighs on GKN October 16, 2012 Engineering firm GKN this morning reported broadly flat pre-tax profit in the third quarter, as it said challenging European markets were weighing on its business. GKN, which makes parts for cars and planes, reported pre-tax profit for the third quarter of £99m, down from £100m in the third quarter of last year. Revenue increased to [...]
Smiths News reports profit jump October 16, 2012 Newspaper and magazine wholesaler Smiths News this morning posted a 23 per cent increase in pre-tax profit for the year to 31 August. Smiths called it a “robust performance” in “challenging market conditions”, helped by the performance of recent acquisitions in the book, education and care market. Smiths has been diversifying away from newspapers and [...]
William Hill and GVC agree terms for Sportingbet takeover October 16, 2012 Bookmaker William Hill and GVC Holdings said this morning they had reached an agreement over the terms of the takeover of online betting firm Sportingbet. The proposal values each Sportingbet share at 61.1p, up from a previous 52.5p. It comprises 48.9p in cash, 1.1p dividend in cash and 0.0475 new GVC Holdings shares per Sportingbet [...]
