FTSE steady but drinks industry takes a hit August 24, 2011 THE FTSE edged up on opening but investors remained jittery ahead of a key Fed meeting on Friday and a string of company results – particularly in the beverage industry – which showed weak consumer demand. US Federal Reserve Chairman Ben Bernanke is set to make a key speech at an annual central bank conference [...]
FTSE 100 rallies on hope of new stimulus from the Fed August 23, 2011 Britain’s top shares rose yesterday on hopes the US Federal Reserve is close to announcing new stimulus measures, and China and euro zone purchasing data were not as bad as feared. Strong results and an upbeat outlook statement propelled security services firm G4S up 8.5 per cent to top the FTSE 100 list in volume more [...]
Banking and tech stocks lead surge August 23, 2011 US stocks shot three per cent higher yesterday on speculation Federal Reserve chairman Ben Bernanke this week would signal new help for the economy, giving investors hope a four-week rout was nearing an end. Weak data in housing and regional factory activity triggered the latest round of bets that Bernanke will act, even though the [...]
What Bernanke might dig up at Jackson Hole August 23, 2011 WHEN Ben Bernanke makes his speech at the Jackson Hole symposium on Friday, the markets will be hanging on his every word. Helicopter Bernanke picked up his nickname after referring to a Milton Friedman statement about using a helicopter drop of money to fight deflation, and market watchers will be listening for any sign that [...]
STRONG YEN COULD INVITE INTERVENTION August 23, 2011 PITY the poor Japanese policymakers. As global economic growth slows, the yen continues to appreciate against all reason, hurting the export driven economy that’s already been battered by natural disaster and chronic deflation. At the end of last week dollar-yen hit a fresh record low of ¥75.95 as the trend intensified. The strength in the [...]
THE TIPSTER August 23, 2011 STERLING rose sharply against the dollar yesterday as traders sought alternative currencies amid the continued concern over US and European debt levels. Spread betters were targeting a potential test of highs of $1.6618, touched last week. However, analysts are voicing caution over a possible fall in the strength of the pound on Friday should GDP [...]
US home sales and Atlantic factory data disappoint August 23, 2011 Disappointing new economic data from the US has raised further fears over its ability to recover from recession. Manufacturing output in the central Atlantic region of the US fell again in August as orders and shipment growth slowed, figures from the regional Federal Reserve Bank of Richmond showed. The Richmond Fed’s composite index of factory [...]
Gold surges past $1,900 mark August 22, 2011 GOLD spiralled past the $1,900 mark in after-hours trading last night, setting yet another record high for the safe-haven asset. It reached a peak of $1,917.90 on the futures market before falling back slightly. Spot gold also reached the milestone, with the sputtering global economy boosting expectations for further monetary easing and raising bullion’s appeal [...]
Pathetic markets want Bernanke to save them August 22, 2011 IT was heady stuff. The price of gold smashed through the $1,900 level in after-hours trading last night, as investors worried about instability and inflation piled into the precious metal. It was not just gold: equities also rose yesterday. Libya helped, of course, but there was one much more powerful reason why stock markets gained ground: [...]
Bargain hunters return to market August 22, 2011 US stocks ended slightly higher yesterday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying. The market was led by large-cap techs and industrials until late in the session when a rally faded. Banks struggled, with Bank of America, the largest US bank, falling 7.9 per cent [...]