FTSE recovery gains traction after Fed boost August 10, 2011 The FTSE continued its rally in early trading today after an unprecedented pledge by the Fed to keep interest rates low to stimulate economic growth encouraged investors. Wall Street rebounded yesterday setting the tone for markets across the globe. In tandem with positive export data from China showing a lift in July the move by [...]
Fed at war over fresh stimulus August 9, 2011 THE FEDERAL Reserve last night pledged to keep US interest rates at their “exceptionally low levels” until at least mid-2013, in a bid to stimulate the ailing US recovery. Yet three dissenters broke ranks from chairman Ben Bernanke (pictured) and his senior colleagues on the Federal Open Market Committee. Richard Fisher, Narayana Kocherlakota, and Charles [...]
UK shares rally after falling below the crucial 5,000 level August 9, 2011 The UK’s top share index the FTSE 100 bounced off 13-month lows yesterday ahead of the US Fed’s announcement, which dealers hoped would calm nerves over global debt and growth problems. The UK benchmark index rose 95.97 points, or 1.9 per cent, to 5,164.92, snapping a losing streak that has stretched back over the last [...]
FTSE bounces up but all eyes move to Fed’s announcement August 9, 2011 BRITAIN’S top share index bounced off 13-month lows yesterday, along with indexes across the Atlantic, as investors hoped an announcement by the US Federal Reserve would calm nerves over global debt and growth problems. “There has been some chatter that the Fed will bring forward the FOMC meeting to announce QE3 [quantitative easing] to the [...]
Wall St rebounds after volatile day August 9, 2011 US stocks rallied yesterday in a volatile session as investors struggled to decipher the Fed’s signals on the economy after a dizzying two-week slide. Buying accelerated into the close and the S&P 500 posted its best day in more than two years, following a drop of nearly 17 per cent over the past weeks. The [...]
SWISS FRANC IS STILL THE SAFE OPTION August 9, 2011 WE ARE on a bumpy road with a very few spare tires,” said Pimco chief executive Mohamed El-Erian, just before US equity markets opened for trade yesterday morning. I couldn’t agree more. Capital markets are in turmoil and the primary reason for the meltdown is the absolute lack of confidence in American and European leadership. [...]
US Fed pledges two years of low rates August 9, 2011 The US Federal Reserve has said it will keep its hefty monetary policy stimulus for at least another two years in an effort to support a flagging economy and fragile global markets. It was unclear whether the decision, which involved no new committment of funds for bond purchases, would be enough to put a floor [...]
Markets bounce back ahead of Fed statement August 9, 2011 Britain’s top share index bounced back above the 5,000 level and US markets opened higher as investors hoped for some soothing words from the US Federal Reserve on the global debt and growth problems. Wall Street has gained ground since opening, with major indices climbing more than two per cent ahead of the Fed’s policy [...]
London’s day of shame: plunging markets, mob rule and absent leaders August 8, 2011 THESE are terrible, depressing times. London is burning. Gangs of criminals have been allowed to roam unchecked, with our horrifyingly powerless authorities failing to bring the situation under control. To those of us who love London, yesterday was a day of gloom, shame and shared pain. The images of dozens of shops, homes and cars [...]
Bullion hits new record after US downgrade August 8, 2011 Bullion roared to record highs above $1,700 an ounce on Monday as an unprecedented downgrade to the US credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar. Both US gold futures and cash gold could rise further if pledges by the Group of Seven nations to support battered financial [...]