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 [...]
LIBYA OFFERS SUPPORT, BUT RISKS REMAIN August 22, 2011 GLOBAL equity markets bounced yesterday offering much-needed relief for bruised investors. After last week’s dismal performance, the major indices were technically oversold. Consequently, traders took the news that hostilities in Libya could be about to end as an excuse to pile back into stocks. But despite the rally, it’s unlikely that we’ve seen the market [...]
Negative tone prevails as markets face testing week August 21, 2011 AFTER another volatile week, anyone hoping that a belated summer lull might be on the way, perhaps to lick wounds and assess trading strategies, will be disappointed for now. This morning’s opening call is for another one per cent drop on the UK stock market, tumbling back below the 5,000 level, and with alarm bells [...]
European shares in biggest fall since March 2009 August 18, 2011 European equities have suffered their biggest daily fall in two and a half years as a slew of downbeat US data cast further doubt on the strength of the recovery in the world’s biggest economy. German shares fell 5.8 per cent, underperfoming the wider market, with traders citing the effects of a short-selling ban on [...]
Republican hopefuls attack Fed August 16, 2011 GOP candidates for the presidential race lined up to attack the Federal Reserve yesterday, as the race prompted some fiery rhetoric. Right-wing Texan governor Rick Perry said it would be “treasonous” if Fed chairman Ben Bernanke announced more quantitative easing, also adding: “We would treat him pretty ugly down in Texas.” Rival Michele Bachmann was [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 15, 2011 FINANCIAL TIMES SINO-FOREST DELAYS PUBLICATION OF FRAUD REVIEW Sino-Forest, the Chinese forestry company fighting allegations of fraud, has delayed publication of its internal review into claims made by research outfit Muddy Waters that triggered a collapse in the company’s share price in June. An independent committee has presented an interim report to Sino-Forest’s board but [...]
Cornhill goes up in the foodie world August 15, 2011 The Door Oyster Bar & Grill 33 Cornhill, EC3V 3NG, Tel: 020 7929 1378 www.thedoor-group.com FOOD SERVICE ATMOSPHERE Cost per person without wine: £30 CORNHILL is such an atmospheric, iconic City street. It’s a shame, then, that the majority of its food and drink offerings are chains or chain-style affairs. Don’t get me wrong: Alphabet [...]
Modest gains forecast after a rollercoaster ride August 14, 2011 I AM not really sure where to start this week… and I think many traders feel the same; we know there are opportunities out there, some markets are looking over-valued, some looking cheap, but the sheer scale of the volatility swings witnessed in the past two weeks – the most severe since the collapse of [...]
Soy and grain futures rise as US warns on harvests August 11, 2011 FOOD commodities such as grain, corn and soybeans saw futures prices soar yesterday after the US government said months of bad weather would slash crop yields. The department of agriculture said droughts in corn-producing areas and heavy rain and floods in other parts of the US would cut crop sizes. The US report, based on [...]
King hints at more easing still to come August 10, 2011 MORE quantitative easing could be in the pipeline for the UK, after Bank of England governor Mervyn King left the door open for the programme dubbed “QE2”. Following hot on the heels of the Federal Reserve’s notably dovish statement on Tuesday, the Bank yesterday painted a gloomy picture of growth prospects and hinted at even [...]