WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2009 FINANCIAL TIMESCASH-STRAPPED TOURISTS AVOID SPANISH SUNBritish tourists impoverished by the weak pound, German holiday makers worried about recession and a domestic market laid low by the sharpest economic contraction for 40 years: it would be hard to imagine a worse combination for Spain’s tourism industry as bookings in many places are down by at least [...]
BANKING WOE PUTS EURO ON THE BACK FOOT June 17, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COM AFTER months of heavy handed fiscal and monetary stimulus, the fact that central bankers and finance ministers are turning their attention to exit policies offers some reassurance that conditions must be returning to normal. This is not, however, a time for complacency. Over the past couple of months, investors’ fears have [...]
Banks and retailers rally to steer the FTSE 100 ahead May 27, 2009 GAINS in banks and retailers outweighed weakness in energy stocks and drugmakers yesterday to leave the FTSE 100 up by 0.1 per cent, or 4.51 points, at 4,416.23. Trade was thin with just 67 per cent of the average of the last 90 days of trading transacted with the absence of concrete data on the [...]
US housing collapse: lessons for the UK May 26, 2009 IF you thought Britain’s house price collapse has been dramatic, wait until you look at America’s. The latest US house price figures reveal that the once booming city of Phoenix, Arizona, has suffered an astonishing 53 per cent collapse in prices since their peak in June 2006. Prices in Las Vegas are also down by [...]
House asking prices rocket May 17, 2009 THE average asking price of a UK property has leapt by 2.4 per cent this month to £227,441, according to data from property website Rightmove data published today. The rise marks the largest monthly increase in asking prices since 2003 when property prices were on a rising trend, but overall asking prices remain 6.2 per [...]
Keep an eye on geopolitics: it matters to the forex markets May 26, 2009 OPPORTUNISTIC currency traders have always been quick to price in oil price spikes, non-standard monetary policies and signs of green shoots, sending currencies up and down depending on the level of risk aversion in the markets. Risk appetite, or the lack of it, has been a major driver of currency movements since the start of [...]
Keep an eye on geopolitics: it matters to the forex markets May 26, 2009 OPPORTUNISTIC currency traders have always been quick to price in oil price spikes, non-standard monetary policies and signs of green shoots, sending currencies up and down depending on the level of risk aversion in the markets. Risk appetite, or the lack of it, has been a major driver of currency movements since the start of [...]
Lawson: The Tories need to find the bottle to cut public spending July 2, 2009 FORMER chancellor Lord Lawson is feeling hot under the collar. It’s not just because he’s finished delivering a lecture in a stuffy, airless room at the London Stock Exchange. He’s also fed up with travelling on the underground in the sweltering heat. “The problem with the tube is not so much the heat,” he tells [...]
Sterling falls further September 4, 2008 Sterling continued its sharp decline yesterday as currency markets reacted to the worsening outlook for the UK economy and a slew of negative economic data. Surveys showed consumer confidence mired at a four-month low in August as food prices rose ten per cent year-on-year. Other data showed activity in the services sector still weakening. The [...]
Paddy Power cuts forecasts August 28, 2008 Bookmaker Paddy Power yesterday slashed its annual earnings forecasts, prompting a slump in its stock market value as investors dumped shares in the Dublin-based company. Winnings in favour of customers backing Irish golfer Padraig Hamilton at both the British Open and the US PGA championship as well as in almost two thirds of matches played [...]