Miners, banks and oil groups emerge as stars of the index July 14, 2009 LONDON’S top share index closed up 0.9 per cent yesterday, led by miners, banks and oil producers as impressive corporate data from the United States outweighed mixed economic figures. The FTSE ended 35.55 points higher at 4,237.68, extending Monday’s 1.8 per cent gains. The index has risen more than 23 per cent since hitting a [...]
Times are tough, but lawyers aren’t giving up their wine cellars quite yet July 14, 2009 JUST after the collapse of Lehman Brothers last year, at a lavish Clifford Chance party held at Goldsmith’s Hall, a French lawyer told me glumly: “London used to be such a good place to make money.” The champagne and canapes might have been flowing at the time, but the words did capture the feeling that [...]
Traders seek to lock in prices as they fight volatile market July 14, 2009 RECORD volatility and unpredictability in the foreign exchange markets during the financial crisis may have seen volumes soar and day traders profit handsomely, but if you are a longer-term positional trader dipping into the forex markets or looking to hedge your trading, whether it be in the currency markets or another asset class, then volatility [...]
Corporate earnings boost Wall Street July 14, 2009 US stocks managed modest gains yesterday, as better-than-expected corporate profits overshadowed concerns about weak consumer demand. Positive surprises on the earnings front could boost markets again today as chip maker Intel reported results after the bell that surpassed expectations, driving stock index futures sharply higher. Intel also gave a forecast for current-quarter revenue that beat [...]
Japan offers the contrarian trader a wealth of opportunity July 13, 2009 GIVEN how badly export-oriented Japan has suffered from the financial crisis and the subsequent drop off in global demand, you might think that investing in Japanese equities would be one of the least successful trading strategies around right now. But in fact, a number of analysts have started turning bullish on the Japanese stock index [...]
Bullish comments boost US markets July 13, 2009 US stocks rallied more than 2 per cent yesterday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks’ quarterly results may be stronger than expected. Light volumes made it easier for stocks to post such a big move, analysts said. The Dow industrials and S&P 500 had their best [...]
SENTIMENT TAKES A NOSEDIVE, DAMPENS RECOVERY PROSPECT July 13, 2009 MARTIN SLANEYHEAD OF DERIVATIVES, GFTCONSUMER confidence is fundamental to market mood, and even more so when the prospect of economic recovery has been touted but not yet assured. Confidence is the building block of spending, which is critical to recovery. And right now confidence is taking a big dip. The bimonthly Reuters/University of Michigan preliminary [...]
Commodities and financials emerge as stars of the index July 13, 2009 THE FTSE 100 closed 1.8 per cent higher yesterday, boosted by stronger energy and mining stocks, while financial shares also provided support to the market which had fallen in five of last eight sessions. The index ended 74.96 points higher at 4,202.13, after falling 0.8 per cent on Friday to its lowest close since 28 [...]
Hot weather to prove thirsty work and give pubs a boost July 12, 2009 The City has good reason to focus on the pub this week, with numbers from JD Wetherspoon, Enterprise Inns and Mitchells & Butlers all likely to be high on the agenda. The recent hot weather should have provided some welcome business for the hard-hit pubcos. But investors will also look for firms to further defend [...]
US hard hitters to lead the markets July 12, 2009 This has all the makings of a highly volatile week for the markets, as second-quarter earnings numbers from the US really get into their stride. With the losing stretch for many stocks now reaching four straight weeks, these blue chip updates could prove pivotal in shaping market direction. The highlights to watch out for are [...]