Banking and mining shares drive FTSE to highest level since May ‘08 January 9, 2013 BRITAIN’S blue-chip stocks hit their highest level since May 2008 yesterday, with gains led by banking stocks and miners after a reassuring start to the US earnings season boosted demand for riskier assets. The FTSE 100 broke through a near two-year high at 6,105.77 in afternoon trade, following a strong opening on Wall Street, peaking [...]
Strong earnings boost appetite of US investors January 9, 2013 US stocks rose yesterday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season. Stocks had retreated at the start of the week from the S&P 500’s highest point in five years, hit last Friday, on worries about possible earnings weakness. Shares of Alcoa were [...]
A new year’s career: How an MBA can boost your CV January 9, 2013 Despite a struggling economy, business schools are continuing to see a high number of applicants for their MBA programmes, as candidates seek career change and acceleration. This month will see a flurry of applications as either the January blues or a New Year’s resolution – or both – give candidates the final nudge they need [...]
FTSE slips over bearish expectation for Chinese data and US corporates January 8, 2013 BRITAIN’S blue chip shares slipped yesterday, hampered by profit taking on mining stocks ahead of economic data from China, and as the US corporate earnings season came into focus. Miners shed 0.7 per cent as investors, gearing up for data out of top metals consumer China in the next two weeks, including fourth-quarter GDP, moved [...]
Results season start drags on cliff euphoria January 8, 2013 US stocks fell yesterday, retreating from last week’s rally on the “fiscal cliff” deal in Washington, as companies started to report results for the fourth quarter. After a 4.3 per cent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts [...]
Fundamentally weak economy to punish pound January 8, 2013 LAST year was great for the sterling bulls. The currency appreciated against the dollar and yen, and edged the euro. But sterling’s gains were driven by weakness in other economies – not by any strength in Britain’s own economic fundamentals. As global headwinds begin to calm, attention has been focusing on the vulnerable pound. In [...]
FTSE retreats for first time this year after highest close since early 2011 January 7, 2013 BRITAIN’S blue chip index fell yesterday for the first time this year, baulking at technical resistance levels having reached its highest close for nearly two years in the previous session. The FTSE 100 shed 0.4 per cent in broad-based losses, with every sector falling apart from financials, which received a regulatory boost over the weekend. [...]
US stocks drop on anticipated poor earnings January 7, 2013 US stocks lost ground yesterday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits. Shares of financial companies dipped after a group of major US banks agreed to pay a total of $8.5bn (£5.3bn) to end a government inquiry into [...]
FTSE mettle is tested by slump in commodities January 7, 2013 AS THE markets settled into the first full week of trading of the year, the FTSE had its 2013 bull run checked, dropping 17 points yesterday. The commodity and miner-heavy benchmark index had been pushed to multi-year highs by the effects of a global risk-off sentiment, with the FTSE breaking the psychologically significant 6,000 level [...]
A Brixit is now a real possibility January 7, 2013 Chief Market Strategist, Cantor Index IN 2001, Tony Blair sought a second mandate from the electorate before 9/11, which would eventually lead to war in Iraq. Blair’s re-election seemed more or less a foregone conclusion. He was still fresh-faced, energetic and was brilliant at selling his aspirations for social reform, which sadly never really transpired. [...]