Investors drop equities on continued Japan worries March 16, 2011 HEIGHTENED fears about the nuclear crisis in Japan saw investors shun equities yesterday, with falls by heavyweight commodity issues dragging Britain’s top share index lower. Banks were the biggest fallers, however, also under pressure as a downgrade of Portugal’s credit rating by Moody’s further unnerved investors. At the close, the FTSE 100 was down 97.05 [...]
US wholesale prices rise fastest in 18 months March 16, 2011 US producer prices surged in February at their fastest pace in just over 18 months, pointing to a build-up in pipeline inflation pressures from soaring food and energy costs. The US Labor Department says its seasonally-adjusted index for prices paid at the farm and factory gate jumped 1.6 per cent, the largest increase since June [...]
ABNORMAL YEN STRENGTH MAY NOT LAST LONG March 15, 2011 DIRECTOR OF CURRENCY RESEARCH, GFT IMAGINE a country with a debt-to-GDP ratio in excess of 200 per cent, faced with a massive natural disaster that leads to a nuclear emergency. The situation deteriorates further as a third of the country’s energy’s production is lost. Under normal conditions, that country’s currency would come under sustained selling [...]
Antofagasta to pay $1bn extra to shareholders March 8, 2011 CHILE-FOCUSED miner Antofagasta revealed a huge special dividend of almost $1bn (£619m) yesterday to share last year’s rewards from booming copper prices and increased production. The firm said pre-tax profit rose 79 per cent to $2.5bn, boosted by an 18 per cent rise in copper production. However, the results missed some forecasts once one-off gains [...]
FTSE bounces on commodity rebound as oil price weakens March 3, 2011 A REBOUND by commodity stocks fuelled strong gains by the UK’s top share index yesterday, as oil prices fell back on hopes for a peace deal in Libya, easing concerns over global demand. The FTSE 100 was up 90.20 points or 1.5 per cent at 6,005.09 at the close, ending above the 6,000 level for [...]
Wall St shrugs off fresh oil price rise March 2, 2011 US stocks eked out gains yesterday despite another rise in oil prices as investors bet the latest data signaled the economy could absorb expected higher energy costs. Wall Street seesawed as oil fluctuated throughout the day. Brent crude LCOc1 hit a 2 1/2-year high above $117 a barrel in the late morning but later slipped. [...]
FTSE finishes in the red despite late rally March 2, 2011 The FTSE slumped below the 5,900 mark this morning on continued Middle East unrest fears, but recovered ground after a boost to Wall St. The FTSE 100 still closed the day below 6,000, though, 0.35 per cent down at 5,914.89. It has lost ground in eight of the last nine sessions. Michael Hewson said the [...]
Wall Street’s fear gauge leaps 13pc March 1, 2011 CONCERNS that rising oil prices could hurt economic recovery prompted investors yesterday to sell stocks and hedge against further declines. The CBOE Volatility Index (VIX), Wall Street’s so-called fear gauge, jumped 13.1 per cent to 20.75 on growing uncertainty about oil. The index measures the cost of using options as insurance against a decline in [...]
Manufacturing PMI holds record high in February March 1, 2011 Manufacturing growth held at a record level in February and factory costs stayed near January’s survey high, suggesting price pressures are continuing to build, a survey showed. The Markit/CIPS headline manufacturing Purchasing Managers’ Index (PMI) stood at 61.5 in February, unchanged from a downwardly revised 61.5 in January. That was the highest since the survey [...]
Flotations raise $26bn in strong start to year February 27, 2011 COMPANIES have raised more than $26bn (£16bn) through IPOs so far this year, to make it the best start to the year on record, says Dealogic. According to the data group, there is also a global backlog of $48bn in deals, which looks set to make 2011 a record-breaking year. The early flurry, which has [...]