FTSE flat as investors await news of Fed’s monetary policy April 27, 2011 BRITAIN’S top share index ended flat yesterday ahead of Federal Reserve Chairman Ben Bernanke’s news conference which could provide clues on the Fed’s future plans for its monetary policy. The blue-chip FTSE 100 was down 1.2 points or 0.02 per cent at 6,068.16, having hit a 9-week closing high on Tuesday. Volume was only 87.6 [...]
Bernanke message cheers US markets April 27, 2011 THE Nasdaq jumped to a 10-year high as US stocks rallied yesterday after Fed Chairman Ben Bernanke’s first-ever press conference did nothing to short-circuit investors’ optimistic outlook on the economy. All three major US stock indexes extended gains after comments from Bernanke at his press conference, where he reiterated the Fed’s stance that inflation was [...]
FTSE closes at two-month high despite light volumes April 26, 2011 aBRITAIN’S FTSE 100 closed at its highest level in over two months yesterday, albeit in light volumes, as earnings from the US and Europe supported gains ahead of results from UK companies such as ARM and BP. The blue-chip FTSE 100 closed up 0.9 per cent at 6,069.36, with volumes still thin after the four-day [...]
Corporate results boost US stocks April 26, 2011 A FRESH batch of corporate results pushed US stocks to their best levels since June 2008 yesterday, renewing optimism that profit growth will remain resilient enough to keep equities on the rise. The S&P 500 barreled through the 1,344 level, seen as a key resistance point the benchmark index needed to surpass in order to [...]
Federal Reserve chairman faces press scrutiny April 26, 2011 TODAY, for the first time in its 97-year history, the US Federal Reserve will start hosting quarterly press conferences in an attempt to better explain the decisions of its Federal Open Market Committee (FOMC). Replicating the Bank of England (BoE) and the European Central Bank (ECB), these press conferences will help to make the chairman’s [...]
AN UNCERTAIN ENDGAME PUTS FOCUS ON FOMC April 26, 2011 WHAT’S good as gold these days? Absolutely nothing, except perhaps silver. As the holiday-shortened week opened for trade, gold continued to set new highs, climbing above the $1,500/oz. level while silver surged, coming to within a few points of breaking above the psychologically important $50/oz. barrier on the way to setting a new record high. [...]
THE TIPSTER April 26, 2011 THE pound is set to take centre stage today with first quarter GDP due out at 9:30am. A figure in excess of 0.7 per cent could well see further sterling-dollar gains towards $1.6800 on a break above the recent highs of $1.6600. A figure below 0.5 per cent could well see the pound slip back [...]
Gold rush April 26, 2011 ■ Gold touches a fresh high of $1,518.6 per troy ounce ■ Prices for silver and diamonds also near record highs THE PRICE of gold surged to yet another all-time high yesterday as growing fears over a weaker dollar sent investors scrambling for the safest asset class of all. Gold hit an unprecedented $1,518.6 per troy [...]
The dollar after S&P’s decision to downgrade April 19, 2011 YESTERDAY’S news of the downgrading of the sovereign debt outlook of the United States rocked markets on both sides of the Atlantic. The debt ratings agency Standard and Poor’s cut the long term outlook for the US from stable to negative for first time since the Pearl Harbor attack 70 years ago. S&P pointed to [...]
Price of mangoes shows how inflation is biting April 17, 2011 I finished work the other evening and was in the mood for a mango salad. So, full of anticipation, I stopped by my local grocers only to be met by a horrible sign. Mangoes: £2.40. Each. What? Since when? Since inflation started spiralling out of control, that is. Chinese price rises are the latest big [...]