FTSE at a record high as miners lifted by metals – London Report March 23, 2015 BRITAIN’S blue-chip share index set a record high yesterday as mining stocks rallied with firmer metals prices, outpacing weakness in shares such as Weir Group. The UK mining index gained 2.2 per cent as copper hit a two-month high, driven by a weaker dollar on expectations the US Federal Reserve will stay accommodative for the [...]
The FTSE 100: How long will the rally go on? March 23, 2015 Don’t confuse price with value in the equity markets. While many of its European counterparts closed down yesterday, the FTSE 100 rose for the sixth consecutive day, with the UK’s blue-chip index closing up 0.22 per cent and reaching 7,037.67. Shirking fears over Greece, which sent France’s Cac 40 falling 0.65 per cent and the [...]
Beware a taper tantrum after ECB QE – CNBC Comment March 23, 2015 Saying goodbye is one of the hardest things in life, especially when it is to a good friend who has brought you joy, peace of mind and, yes, profits. For investors over recent years, that friend has been easy monetary policy. St Louis Fed president James Bullard told CNBC yesterday that there was the potential [...]
Is the Fed’s James Bullard right to warn that Greece would flounder if it left the Eurozone? March 23, 2015 Christian Schulz is senior economist at Berenberg, says Yes Grexit would be a devastating shock, with the painful consequences including a major devaluation of the drachma, default, capital flight and a sharp recession. Greece would probably be shut out of financial markets for years. For ordinary Greeks, it would mean a big reduction in living [...]
Gordon’s Wine Bar owner Simon Gordon seeks Facewatch app funding March 23, 2015 The man behind London’s famous watering hole Gordon’s Wine Bar has given himself a new task as he seeks funding for his latest project Facewatch – a crime reporting app. Wine bar proprietor Simon Gordon, who runs the 125-year-old institution, originally hit upon the idea for the app – which enables the public and the [...]
Investors eye indicators for clues on rates – The week ahead on Wall St March 23, 2015 INVESTORS enjoying near-record levels for major stock indexes will scrutinise housing data and other economic indicators this week for hints about the timing of US interest rate hikes to see if the rally will continue. Concern about the Federal Reserve’s path of rate increases and the soaring US dollar have resulted in big swings in [...]
FTSE is lifted to a record high post-Budget – London Report March 19, 2015 BRITAIN’S benchmark share index touched record highs yesterday, with gold miners outperforming, after the US Federal Reserve and Bank of England both dampened prospects of interest rate rises in the near term. The FTSE 100 index rose as much as 0.5 per cent to a record high of 6,982.79 points, beating the earlier record of [...]
Wall St falls as stronger dollar weighs on fuel – New York Report March 19, 2015 US STOCKS fell yesterday as a stronger dollar weighed on oil and other commodity prices, sending energy and materials sectors lower. The greenback rose after a sharp decline on Wednesday. The Federal Reserve appeared to be more dovish than expected even as it opened the door for a Fed funds rate hike as soon as [...]
Is the ECB speaking too soon in saying that QE is already helping the Eurozone economy? March 19, 2015 Danae Kyriakopoulou, an economist at the Centre for Economics and Business Research, says Yes Central bankers in Frankfurt have been patting each other on the back as the euro has continued to slide. At first glance, why shouldn’t they? Their QE has sent the euro tumbling, making Eurozone exports more competitive and raising prospects for [...]
European markets rise as Fed loses patience March 19, 2015 European markets rose this morning, despite last night's indication from the US Federal Reserve that it could begin to raise interest rates over the coming months. In a statement following a meeting of the Federal Open Markets Committee last night, Fed chief Janet Yellen dropped the word "patience" from the wording of her statement, indicating [...]