Wall Street gains after day of jitters August 30, 2011 US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal Reserve meeting boosted expectationsthe central bank will act again to stimulate the economy. Equities surged near the close of the market, though they quickly pared gains, after the release of the Fed’s 9 August minutes showed [...]
RISK TRADE HINGES ON US EMPLOYMENT August 30, 2011 DOUBLE dip or muddle through? That’s been the central question facing the currency markets. As economic data started to deteriorate across the world amidst growing investor unease with fiscal policies in US and Europe, the bears have been eager to forecast another global contraction. Yet, although the latest data has been anaemic, it nevertheless remains [...]
SO MUCH FOR A QUIET AUGUST August 29, 2011 TRADERS who stayed on the floor throughout August 2011 will remember it for many things, but tranquility will not be one of them. While European chief executives left the office for their customary four-week holiday, global equity markets kicked off a month of instability as US lawmakers dithered over a last-minute increase in the country’s [...]
FTSE to open over 100 points higher after holiday August 29, 2011 A FROTHY combination of surprisingly strong US consumer spending data, merger news between two Greek banks, and general relief that Hurricane Irene largely avoided New York City, will give UK stocks a substantial boost when the market re-opens today after the long Bank Holiday weekend. GFT quotes two-way prices on stock indices around the clock, [...]
FED COULD BE STIMULATED BY NON-FARMS August 29, 2011 EQUITIES staged a decent recovery last week, despite the release of further poor economic data from the US, Europe and China. Last week’s trading was a return to the behaviour we became so used to over the past few years, and which has been less in evidence over the last couple of months. This is [...]
TRAVEL NOTES August 29, 2011 Victoria Falls adventure Action-loving travellers take note: Tongabezi Lodge in Zambia has teamed up with Bundu Adventures to offer an “Above and Below” package at Victoria Falls (see pic). You start with swimming in the Devil’s Pool, a natural lake at the end of the Zambezi river positioned above the boiling pot, right on the [...]
Bernanke speech fails to impress markets August 26, 2011 Federal Reserve Chairman Ben Bernanke stopped short of signaling further action to boost growth, but said it was critical for the economy’s health to reduce long-term joblessness. The FTSE 100 and Dow dropped more than one per cent after the comments in a speech which had been widely anticipated as a rallying point for the [...]
EU states extend ban on shorting August 25, 2011 FOUR European Union states yesterday extended their short-selling bans until at least the end of next month. Spain and Italy will persist with the measure until 30 September, while French and Belgian bans will continue until further notice. The German DAX fell as much as five per cent at one stage, on rumours of both a short [...]
Tensions rising again in the markets August 25, 2011 WHEREVER one looks, there is danger in the air. Global equities are down 10.2 per cent in August and 11.3 per cent in the year to date. European and UK shares are down 13 and 10.4 per cent respectively in August, and 16.8 per cent and 11.5 per cent so far this year, Evolution Securities [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 25, 2011 FINANCIAL TIMES BREVAN HOWARD CAPITALISES ON TURMOIL Brevan Howard, the world’s largest macro hedge fund, has made close to $1.5bn over the past three weeks on the back of turmoil in the global markets. In a month in which equity markets worldwide have seen declines of more than 10 per cent, the gain comes as [...]