Spanish banks hold promise of strong profits this year May 3, 2010 SPANISH stocks had a torrid time last week. After Spain’s government debt was downgraded a notch from AA+ to AA, the Ibex 35, the Spanish stock market index, fell 4 per cent. But while domestic woes are far from resolved – unemployment is now more than 20 per cent – Spain’s biggest bank looks like [...]
CFD ANALYST PICKS May 3, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Sell the FTSE 100 at 5,740 Expertise: Technical analysis Average time frame of trades: 5-10 days We have done quite well trading the index over the past few weeks and have most recently booked profit on our short trade from 5,725 at 5,600 for 125 points. The overall structure [...]
European shares rise despite ongoing worries over Greek bailout package May 3, 2010 EUROPEAN shares rose on yesterday, as upbeat US data boosted hopes of an economic recovery, although doubts persisted on Greece’s ability to implement the tough austerity measures it has agreed to under a $147bn (£96bn) bailout deal. The FTSEurofirst 300 index of leading European shares closed 0.2 per cent higher at 1,064.56 points — after [...]
US stocks rally after ISM reports economy boost May 3, 2010 US stocks staged a broad rally that drove the S&P 500 to its best day in two months yesterday after manufacturing, consumer spending and construction data instilled confidence that the economic recovery is gaining traction. Transport stocks had their best day in six months following an industry report that the US manufacturing sector grew in [...]
There are still plenty of reasons to be sceptical about the recovery May 3, 2010 ALTHOUGH news of a €110bn bailout package for Greece failed to calm the market’s jitters, investors are generally increasingly confident. Standard Chartered’s Risk Appetite Index is edging higher in risk neutral territory while volatility has dropped – the Vix is back below 20 while the European VStoxx is down 22 per cent over the past [...]
ECONOMIC DIARY May 3, 2010 WHILE the general election will be the primary concern, there are plenty of other economic data releases that traders should be watching out for over this short trading week. This morning, we will find out how well the UK manufacturing sector thinks it is doing from the April purchasing managers’ index (PMI) at 9.30am. We will [...]
Higgins vows to clear name in ‘fix’ probe May 3, 2010 ACCUSED John Higgins admits he faces the biggest match of his life to clear his name of match-fixing allegations. World No1 Higgins has been suspended by the World Professional Billiards and Snooker Association after it was alleged in a Sunday newspaper that he agreed to throw frames for money. But the 2009 world champion vehemently [...]
ROBERTSON CLAIMS WORLD TITLE May 3, 2010 NEIL ROBERTSON became the first Australian player to win the World Championship after coming through a marathon showdown with Graeme Dott at the Crucible last night. The 28-year-old clinched the last three frames to claim a 18-13 victory in a tense, error-strewn finale, which eventually finished shortly before 1am. Robertson, whose mum flew over from [...]
Colly calls for rule review as Windies reign May 3, 2010 FRUSTRATED England captain Paul Collingwood last night called for a review of the controversial Duckworth-Lewis method as his side were sent spinning to defeat by the West Indies in farcical circumstances in Guyana. Collingwood’s men scored the equal highest total of the tournament so far after a blistering 95-run partnership from Eoin Morgan (55) and Luke [...]
Wenger laments ‘unfair’ Rovers as Gunners crash May 3, 2010 BLACKBURN (2) vs ARSENAL (1) ARSENAL boss Arsene Wenger accused Blackburn of being “unfair” to goalkeeper Lucasz Fabianski as his side sunk to a third straight away defeat. Wenger said Rovers regularly impeding the Polish stopper during periods of aerial bombardment and blamed referee Martin Atkinson for failing to protect his side. Fabianski has been [...]
