Wall St shrugs off fresh oil price rise March 2, 2011 US stocks eked out gains yesterday despite another rise in oil prices as investors bet the latest data signaled the economy could absorb expected higher energy costs. Wall Street seesawed as oil fluctuated throughout the day. Brent crude LCOc1 hit a 2 1/2-year high above $117 a barrel in the late morning but later slipped. [...]
FTSE finishes in the red despite late rally March 2, 2011 The FTSE slumped below the 5,900 mark this morning on continued Middle East unrest fears, but recovered ground after a boost to Wall St. The FTSE 100 still closed the day below 6,000, though, 0.35 per cent down at 5,914.89. It has lost ground in eight of the last nine sessions. Michael Hewson said the [...]
Wall Street’s fear gauge leaps 13pc March 1, 2011 CONCERNS that rising oil prices could hurt economic recovery prompted investors yesterday to sell stocks and hedge against further declines. The CBOE Volatility Index (VIX), Wall Street’s so-called fear gauge, jumped 13.1 per cent to 20.75 on growing uncertainty about oil. The index measures the cost of using options as insurance against a decline in [...]
Manufacturing PMI holds record high in February March 1, 2011 Manufacturing growth held at a record level in February and factory costs stayed near January’s survey high, suggesting price pressures are continuing to build, a survey showed. The Markit/CIPS headline manufacturing Purchasing Managers’ Index (PMI) stood at 61.5 in February, unchanged from a downwardly revised 61.5 in January. That was the highest since the survey [...]
Flotations raise $26bn in strong start to year February 27, 2011 COMPANIES have raised more than $26bn (£16bn) through IPOs so far this year, to make it the best start to the year on record, says Dealogic. According to the data group, there is also a global backlog of $48bn in deals, which looks set to make 2011 a record-breaking year. The early flurry, which has [...]
Energy stocks rally but RBS leads the FTSE downwards February 24, 2011 UNREST in the Middle East and North Africa hit Britain’s top shares again yesterday, though rising crude prices and upbeat comment from oil major BP on its Indian activities lifted energy stocks. The FTSE 100 closed down 3.55 points, or 0.1 per cent, at 5,919.98, pinned just below a seven-month technical support level of 5,920. [...]
Wall St falls again on Libya concerns February 24, 2011 US stocks fell for a third day yesterday as US crude oil prices hovered near $100 (£61.73) a barrel on violence in Libya. Oil’s sharp rise this week has fuelled worries about the effect of energy costs on consumers and business. US crude oil futures were at their highest since late August 2008, as the [...]
Worries over banks and oil weigh on FTSE February 21, 2011 Nervousness over oil supply as violent crackdowns on protests in Libya continued combined with worries over banks’ liquidity to keep the FTSE in the red today. The FTSE 100 declined from about 9:00am and it finished 1.12 per cent down at 6,014.8. “Only a handful of blue-chips registered a positive change for the day – [...]
Legal eagle: how London’s top law firm retained its grip on the City February 20, 2011 The head of law firm Slaughter and May is two minutes late for his interview with City A.M., for which he immediately apologies. The first thing is surprising; the second is not. The partners in this blueblooded City institution have spent a lifetime doing things correctly. Even among other Magic Circle outfits, this firm manages [...]
States no longer monopolise citizens February 17, 2011 In a modern, global and open world, states have to compete for people. Weirdly, that is something that a large number of commentators have failed to recognise; they continue to argue as if Britain remained stuck in a pre-globalised world. They assume implicitly that governments remain quasi-monopolies, as was the case throughout most of human [...]