Surveys hint at slowish turnaround May 31, 2009 THIS week’s May purchasing managers’ indices (PMI) are expected to give a further boost to hopes of a recovery, with many economists now forecasting a return to positive growth in the second half of 2009, although they warn it will not be painless. All three PMIs are expected to show that the rate of contraction [...]
MARK ON THE MARKETS May 31, 2009 THERE will be plenty for the market to mull over this week. Amongst the economic news, we are expecting PMI surveys, consumer confidence and PPI out of the UK; unemployment figures from the eurozone; as well as consumption data-including the Fed’s preferred inflation measure-from the US. On Wednesday we will hear the views of Fed [...]
All eyes on the Bank but is giving credit all that is due? May 31, 2009 A STRING of economic data is due over the next five days which, after a relative drought recently, are likely to impact investor confidence should there be any surprises. The Bank of England will be acutely aware of this ahead of its interest rate decision on Thursday. With most economists predicting the central bank to [...]
Retail sales fall in May as pain worsens May 28, 2009 SHOPPERS are belt-tightening again, according to data released yesterday which shows that high street sales fell by more than expected in May. New figures from employers’ organisation the CBI showed that some 17 per cent more retailers reported a fall, rather than a rise, in sales during May. The data suggests that April’s rise, which [...]
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 [...]
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 [...]
US consumer confidence boosts late London trading May 26, 2009 BETTER than expected consumer confidence data out of the US gave the FTSE 100 a much-needed boost yesterday afternoon, after Asia’s sell-off – driven by concerns of heightening geopolictical tension on the Korean peninsula – infected the London markets in early trading. “Following the release of the US consumer confidence data there was an immediate [...]
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 [...]
Businesses back BA tie-ups May 19, 2009 SUPPORT came for flag carrier British Airways (BA) yesterday, after Sir Richard Branson hit out against the group’s intended tie-up with American Airlines (AA) and Iberia. Branson, who owns Virgin Atlantic airlines, had said a merger between BA and AA would create a “monster monopoly” of airline groups, which would lock out competition, and muscle [...]