Westwood turns his back on the PGA Tour millions October 6, 2010 RYDER CUP hero Lee Westwood will continue to fly the European flag in 2011 after snubbing the chance to play on the American PGA Tour. The 37-year-old moved up to second in the world rankings after helping Europe retain the Ryder Cup at the weekend. And he could even depose Tiger Woods as the world’s [...]
Weak US employment figures give Fed room for fresh policy stimulus October 6, 2010 US private employers unexpectedly shed jobs in September, reinforcing the conviction that the US Federal Reserve as early as next month will embark on another round of monetary policy stimulus to support the economic recovery. ADP’s national employment report yesterday said US private employer payrolls fell by 39,000 jobs in September. The median forecast from [...]
Brace yourself, Gordon is in town October 6, 2010 Film MONEY NEVER SLEEPS Cert: 12A GORDON Gekko comes to London. If you enjoyed Oliver Stone’s original film, do you really need any other inducement to see Wall Street’s sequel, Money Never Sleeps? For a few brief scenes the financial world’s debonair Mephistopheles can be seen, trademark devil-may-care smirk and all, getting shaved in Trumper’s, [...]
Fundamentals fail to offer a clear picture October 5, 2010 EVERY day there seems to be further bad news from the Eurozone’s periphery. Only yesterday Moody’s rating agency warned it might downgrade Irish bonds. Yet the euro continues to rally against the dollar, reaching $1.3833 yesterday at 6.45pm. The market just does not seem to care what trouble the Eurozone stirs up. All eyes are [...]
THE TIPSTER October 5, 2010 D ESPITE widespread dollar weakness for the US greenback against the Mexican Peso, the pair has not done so badly in the last month and now sits on a good support level offering a possible buying opportunity. Capital CFDs quotes a price of peso12.5500-peso12.5700 for dollar-peso. The Bank of Japan announced yesterday that it will [...]
US MARKETS AWAIT THE SIZE OF QE2 October 4, 2010 CFD MARKET STRATEGIST, GFT STOCK markets got plenty of attention last month following strong rallies in the major indices. But September also saw impressive gains for precious metals and the euro, although the latter was more a function of dollar weakness. Although there are plenty of good reasons to avoid the euro, the single currency [...]
Report mulls impact of BHP bid for Potash October 3, 2010 AN INDEPENDENT report on the impact of a takeover of Canada’s PotashCorp will today reignite the country’s debate over the implications of such a move, as expectations of a Chinese-led counterbid to BHP Billiton’s $39bn (£24.7bn) offer begin to dwindle. The report by the Conference Board of Canada will make no recommendations, though it will [...]
DO YOU THINK THE BANK OF ENGLAND WILL RESTART QE? October 3, 2010 PETER DIXON | COMMERZBANK “Desperate times may call for desperate measures, but until such times as the economic recovery goes into reverse, doing nothing may be the best strategy. And if the Fed does begin its QE2 programme, the UK can afford to keep its powder dry by free-riding on the Fed’s coat-tails.” PHILIP SHAW [...]
HEDGIE IAN WACE TAKES CHAIRMAN JOB AT ARK October 3, 2010 THE GLAMOROUS world of hedge fund philanthropy had a shuffle at the top over the weekend, as Ian Wace – co-founder of Marshall Wace – took over from hedgie “godfather” Stanley Fink as chairman of Arki Busson’s charity, Absolute Return for Kids (ARK). Wace will now be tasked with the dual responsibilities of overseeing ARK’s [...]
THE TIPSTER October 3, 2010 SUPERMARKET J Sainsbury had a bumper summer with the share price plotting a course towards the 400p mark. The trading statement, due mid-week, has potential to bring buyers back in. For as long as talk of a double dip recession is kept at bay retailers may be in for a good Christmas. But be warned, [...]