Wall St flat as awaits action September 12, 2012 WALL STREET ended little changed yesterday, erasing early gains, as investors turned cautious before a Federal Reserve decision on another round of monetary stimulus to boost the economy. Stocks got a lift early after Germany’s constitutional court approved the new Eurozone rescue fund, which will allow the European Central Bank to buy sovereign bonds in [...]
FTSE treads water but miners drop after ominous statistics from China September 11, 2012 BRITAIN’S top share index pared early losses to end flat yesterday, with uncertainty regarding the outcome of a German court ruling on the Eurozone’s bailout fund and the US Federal Reserve’s likely stimulus plans prompting investors to avoid strong bets. However, analysts said sentiment was improving following some positive steps taken by policymakers in Europe [...]
Dow Jones hits five-year high in light trading September 11, 2012 THE DOW Jones Industrial Average closed at the highest level in nearly five years yesterday in a lightly traded session before key decisions in Germany and the United States that could give markets a further boost. Energy, industrial and financial firms led the advance. Contributing to gains by the Dow, shares of IBM rose 1.15 [...]
Fresh calls for asset purchases after US consumer debt shrinks September 10, 2012 US CONSUMER credit shrank in July, the Federal Reserve revealed last night, the first fall for nearly a year. The change surprised analysts and gave yet further impetus to the calls for another programme of asset purchases. Driven by Americans paying off credit card debt, consumer credit shrank by nearly $3.3bn (£2.1bn) in July, compared [...]
FTSE dwindles as defensive stocks drop ahead of Fed and euro news September 10, 2012 BRITISH blue chip shares dipped yesterday as weakness in defensive stocks outweighed strength in risk-sensitive cyclicals, such as miners, and investors positioned for more newsflow out of Europe and the United States. The FTSE 100 closed down 1.60 points, or 0.03 per cent, at 5,793.20, with the index yo-yoing in a tight range around the [...]
Markets dip on Wall Street as tech stock falls September 10, 2012 WALL Street stocks fell yesterday as investors locked in gains on a recent rally ahead of possible policy action from the Federal Reserve later this week, while weakness in Intel shares weighed on the Nasdaq. The benchmark S&P 500 index closed at highs last week not seen in nearly five years, motivating some investors to [...]
Ignite the spirit of the Games Makers in our employees September 10, 2012 FAREWELL then, to the undisputed stars of the London 2012 Olympic and Paralympic Games – the Games Makers will be missed. Overnight, London became a friendlier place. Anyone who was helped by them, or who heard the prolonged applause for them at the closing ceremonies, will know they rose to the occasion brilliantly and contributed [...]
US data points to a burst of QE from Ben Bernanke September 10, 2012 FX360 GLOBAL equities rallied sharply last week, with most of the gains coming after the European Central Bank (ECB) president, Mario Draghi, spoke on Thursday. There was nothing in Draghi’s statement that had not been telegraphed to the markets in advance. Nevertheless, investors piled into “risk assets” as the ECB president backed-up his earlier promise [...]
Oil trading on hopes of stimulus September 10, 2012 THOUGH oil is in the middle of a bullish trend, prices find themselves pushed and pulled between potential stimulus measures, that could drive price on the upside, and the threat of oversupply, dragging the price back down. STIMULUS HOPES With weak macro data coming out of China and markets on tenterhooks in anticipation of the [...]
Analyst picks for 11 September 2012 September 10, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short Aussie-dollar Expertise: Fundamental and technical analysis Average time frame of trades: 1 day to 1 week Despite the rebound, Aussie-dollar has pulled back to respect a former channel, reversing some of its gains from the Chinese stimulus measures announced last week. Accordingly, topside resistance comes in at Au$1.0350-55 [...]