War, what is it good for? Bull runs on stocks May 20, 2014 THE CHANCE of war this May is a signal to buy stocks, according to a note from Bank of America Merrill Lynch. Stocks have historically declined in the run-up to conflicts, but then “rally hard once war commences”. Michael Hartnett, chief investment strategist at BAML, points to World War II stock movements to make his [...]
BoAML: Stocks likely to “rally hard” if war commences May 20, 2014 The chance of war this May is a signal to buy stocks, according to Bank of America Merrill Lynch. Stocks have historically declined in the run-up to war, but then "rally hard once war commences". Michael Hartnett, chief investment strategist at BoAML, points to World War II stock movements to make his point. The chart [...]
India’s Modi is being put on a pedestal – and he’s got a long way to fall May 20, 2014 Indian businesses are jubilant about the result of the Indian election, which returned Narendra Modi as the country’s next Prime Minister – MNI’s business sentiment indicator shot up from 61.9 in April to 67 this month (the highest in two years), when it became clear that Modi would take the crown. Anything above 50 signals [...]
Russia and Ukraine weigh on ITE May 19, 2014 Exhibitions firm ITE Group reported a 64 per cent boost in profits to £18.2m during the six months to March, but warned it expects a lower level of growth in its key Russian and Ukraine markets for the rest of the year due to political uncertainty in the region. “The group experienced mixed trading conditions [...]
What you need to know before the US open May 19, 2014 US stocks are expected to open lower today, following the distinctly choppy trading seen last week. Trading in government bonds continues to be solid, with nothing in the way of economic data to provide a guiding light for equity and fixed-income markets. The Fed’s April meeting minutes are due Wednesday, with some numbers from US [...]
What the other papers say this morning – 19 May 2014 May 19, 2014 FINANCIAL TIMES Facebook ready to take on Snapchat Facebook is going head to head with rival Snapchat in the video-chat app market as the social networking group scrambles to win back users from the popular ephemeral messaging app. Facebook has been working for several months on the app, known internally as Slingshot, with a simple [...]
Vodafone divi takes payouts to new record May 19, 2014 VODAFONE’S world record dividend payout to investors took global payments to a new high last quarter, as ongoing unrest in Ukraine slashed dividends at Russian firms by more than a half, new research claims. The telecoms giant made a special $26bn (£14.5bn) payment to investors on the back of its Verizon Wireless deal, taking the [...]
Ovo increases its bills by 3pc May 15, 2014 INDEPENDENT supplier Ovo Energy yesterday said it would be raising its prices for new and renewing customers by three per cent, due to a spike in wholesale prices in April. The average annual dual fuel bill will now cost £1,028. The Ukraine crisis caused gas prices to rise temporarily, due to concerns that Russia would [...]
Letters to the Editor – 16/05 – Monetary dark age, Best of Twitter May 15, 2014 Monetary dark age [Re: The real world looks much less rosy than the Bank of England’s forecasts, yesterday] This is a dark age for macroeconomics. The likes of Mark Carney are concerned with communication but have forgotten that the maximum impact of an interest rate increase occurs within 12-18 months. If this is appreciated, then the [...]
Britain storm into European final May 15, 2014 GYMNASTICS: Great Britain shocked reigning European Champions Russia by qualifying for tomorrow’s team Artistic Gymnastics final in Bulgaria ahead of them. The five-strong squad topped the standings and are now bidding to win only Britain’s second ever European team medal following their combined effort to win silver in 2010.