US JOBS DATA STRENGTHENS HAWKS’ CASE December 7, 2009 DAVID MORRISONCFD MARKET STRATEGIST, GFT FRIDAY’S non-farm payroll report was, on the face of it, a really positive piece of news to take us up to the end of the year. Although 11,000 jobs were lost in November, this was the lowest number of losses for two years. On top of that, there were hefty [...]
NIKKEI INDEX STRUGGLING TO ADVANCE November 30, 2009 DAVID MORRISONCFD MARKET STRATEGIST, GFT WHILE US stock indices look relatively buoyant, there are a number of major global markets that are currently struggling to make further headway. In Europe, the French CAC 40, Spanish Ibex and German Dax are trading in tight ranges and failing to break above resistance at significant retracement levels. Meanwhile, [...]
THE TIPSTER TESCO COMES UNDER SELLING PRESSURE December 6, 2009 THERE’S no doubting supermarket Tesco’s market dominance nor its ability to make billions of pounds worth of profit. But its share prices has come in for a little profit taking ahead of its third quarter sales, which are due tomorrow. From a technical point of a view, the chart suggests that a head and shoulders [...]
BEST OF THE BROKERS September 24, 2009 HALFORDS GROUPAhead of Halfords’ second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more “staycations” than last year will deliver a more robust performance than previously expected, and says “buy”. WM MORRISONJefferies International upped its target price [...]
BEST OF THE BROKERS September 24, 2009 HALFORDS GROUPAhead of Halfords’ second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more “staycations” than last year will deliver a more robust performance than previously expected, and says “buy”. WM MORRISONJefferies International upped its target price [...]
ITV and M&S bosses can add long-term value November 22, 2009 Last week two of the UK’s biggest companies named new leaders. The appointments added hundreds of millions of pounds to the value of the businesses. But how much long-term value can a new boss add? Consider the pedigree of the men in question; both undoubtedly impressive. Marks & Spencer snared Marc Bolland as its new [...]
CRUDE OIL’S STALL SPELLS BAD NEWS November 16, 2009 DAVID MORRISONCFD MARKET STRATEGIST, GFT DESPITE assurances to the contrary, the US administration wants a weaker dollar. Investors have seen this, however, and discount US Treasury Secretary Tim Geithner’s call for a strong dollar as simply hot air. Meanwhile the clear message from the Federal Open Market Committee (FOMC) is that US interest rates will [...]
Sir Stuart again failed to tell the City his succession plans November 4, 2009 ONE of the most hotly-debated succession sagas looks set to keep on rolling as M&S yesterday shunned questions about how the search for Sir Stuart Rose’s successor was progressing. Rose furiously batted away questions on the M&S’s succession plans, despite it being a concern weighing heavily on many analysts’ minds. “I’m not answering questions on [...]
Concern over Dubai’s debts takes toll on Britain’s shares November 26, 2009 Britain’s top shares ended at a three-week closing low yesterday, pressured by hefty falls in the banking sector as concerns over Dubai’s ability to pay its debts took a toll on confidence. The FTSE 100 ended down 3.2 per cent, or 170.68 points, at 5,194.13, its lowest close since November 6, and losses on the [...]
Tesco starts to close gap on faster growing rivals October 13, 2009 TESCO, the UK’s largest retailer, is closing the gap on faster-growing competitors, market researcher TNS WorldPanel said yesterday. TNS, which tracks sales growth in the grocery sector, said sales at Tesco, which has been growing less quickly than rivals in recent months, rose 4.2 per cent in the 12 weeks to 4 October. This was [...]