Saying “aloha” to the City’s coolest new watering hole November 8, 2009 YOU don’t have to be a millionaire to come here,” says Nick House, before a backdrop of Hawaiian masks, carved screens, coconuts and bamboo chairs. Then he laughs and jokes: “But it helps.” With his business partner Piers Adam, House is one of the biggest names on the London clubbing scene. One of the pair’s [...]
Stocks looking higher for now but resources the key November 8, 2009 UK and European stock markets are set to open higher this morning, following on from Friday’s bounce-back from the initial sell-off which followed the all-important US employment data. GFT is quoting the FTSE 100 index to open up 24 points from Friday’s close of 5,142. The German DAX is also called higher, up 25 points [...]
TURNAROUND IN GREENBACK SOME WAY OFF November 8, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COMTHERE has been a lot written in the last few days about the potential for a period of consolidation in the prices of many asset classes over the next three months. The earnings performance of many US companies in the third quarter didn’t quite meet forecasts, while consumers remain under pressure from [...]
Share index up as Bank of England keeps rates at a low November 5, 2009 BRITAIN’S top share index closed 0.4 per cent up yesterday, with energy stocks lifted by optimism on the economic outlook as central banks kept rates steady and US data surprised on the upside. The Bank of England kept rates steady at a record low of 0.5 per cent and said it would expand its quantitative [...]
Stocks jump based on economic data November 5, 2009 US stocks jumped yesterday, pushing the S&P 500 up for a fourth day, as economic data boosted confidence in the recovery and strong results from Cisco Systems suggested a rebound in technology spending. The market’s advance was broad-based, and the Dow ended above 10,000 for the first time in two weeks. Shares of Cisco, which [...]
Why we need to go global with ethics November 4, 2009 ETHICS is one of the buzz-words in the City at the moment, with all sorts of companies trying to convince customers, investors and policymakers that they have changed the way they do business. But the issue has been at the forefront of accountants’ minds ever since another E-word loomed into sight: Enron. When the American [...]
Why chartered institutes can help to boost your career November 4, 2009 SOME name changes are only cosmetic, but for the financial services industry, the transformation of the Securities & Investments Institute into the Chartered Institute for Securities & Investment (CISI) could improve the careers of many in the City. The body, which has over 40,000 members including stockbrokers, investment advisors, portfolio managers and wealth managers and [...]
THE LONDON REPORT November 4, 2009 LONDON’S leading shares ended 1.4 per cent higher yesterday, boosted by a rebound from miners and banks, with retailers Next and Marks & Spencer also higher after posting forecast-beating figures. At the close, the FTSE 100 was up 70.68 points at 5,107.89, recouping all of Tuesday’s losses when the index fell 1.3 per cent to [...]
Inverse ETFs are proving to be the ideal tool for bearish day traders November 4, 2009 EARLIER this week, Deutsche Bank launched the first European-listed exchange-traded fund (ETF) that tracks the inverse daily performance of an Asian stock market – Hong Kong’s Hang Seng. The investment bank’s ETF division, DB X-trackers, also announced that it has launched four new European sector ETFs on short daily indices, bringing the number of the [...]
INVESTORS FLOOD BACK TO PROPERTY November 4, 2009 NIZAM HAMIDHEAD OF SALES STRATEGY, iSHARES EUROPE REAL estate has suffered badly during the financial crisis and the very thought of sub-prime was enough to turn even the steeliest investors away from investing in property. But real estate is now a steadier environment and its attractiveness has been helped by its low correlations to other [...]