Wall St surges on fiscal cliff solution hopes November 28, 2012 US stocks rallied yesterday after comments from House Speaker John Boehner, the top Republican in Congress, on a possible compromise to avoid the “fiscal cliff” turned the market around. The S&P 500 rebounded from a 1 per cent decline, gaining more than 20 points from its low after Boehner, an Ohio Republican, said he was [...]
Lift to BAE Systems from Lockheed rumour helps FTSE edge upwards November 27, 2012 BRITISH top shares rose yesterday, helped by a 2.5 per cent jump in British aerospace group BAE Systems after four traders cited market speculation of interest in the company from US firm Lockheed Martin. “Vague rumours that Lockheed is showing interest,” one trader wrote in an email. BAE shares closed at 319.70p. Banks also helped [...]
Fiscal cliff fears send Wall St shares diving November 27, 2012 US stocks slid yesterday in a choppy session, losing ground in the last hour before the close after Senate Majority Leader Harry Reid expressed disappointment that there has been “little progress” in dealing with the fiscal cliff. The market was flat for most of the session but fell sharply after Reid’s comments, a signal that [...]
The overheated Aussie needs to be cooled quick November 27, 2012 THE Australian dollar (Aussie) has been riding a tsunami wave over the last few years. Since lows at the end of 2008, the currency has rocketed by nearly 75 per cent against the US dollar. But as Asian economies realign, its rise looks set to end, bringing downward pressure on the currency. COMMODITIES SUPER CYCLE [...]
Black Friday hangover dogs Wall St stocks November 26, 2012 WALL Street slipped yesterday, pulling back from last week’s gains, as retailers fell on concerns about heavy discounts at the start of the US holiday shopping season and the overhang of the “fiscal cliff” kept investors wary of making big bets. The Nasdaq outperformed to close higher, led by gains in eBay and as Apple [...]
Barclays leads FTSE down as Qatar Holdings sells remaining warrants November 26, 2012 BRITISH blue chip shares fell yesterday, with Barclays tumbling more than five per cent, as the market retreated after its best performance this year last week. Barclays dropped 5.4 per cent after top shareholder Qatar Holdings cashed in its remaining warrants in the UK bank, a move which led to the sale of up to [...]
Japan’s companies are in dire need of a boost November 26, 2012 THE Bank of Japan (BoJ) has a real problem. Japan has an astronomical debt burden, ailing exports (hurt by a strong yen), and a population that cannot be persuaded to spend its way out of recession. October saw the fifth straight month of export declines, down 6.5 per cent on the year. Japan has been hit [...]
How traders could pilot festive market sentiment November 26, 2012 AS CHRISTMAS rolls around, many market pundits will once again seek to explain away the typical bull market sentiment as a seasonal anomaly – or indeed, to give it full moniker, a Father Christmas rally. But is this actually something you can hope to trade successfully? Or is this seasonal sentiment nothing more than a [...]
The Tipster | Thomas Cook struggles to fly November 26, 2012 DOUBTS remain over whether tomorrow’s full-year results from Thomas Cook Group will launch another take-off for the travel company. Even though its shares are up by over 30 per cent over the last year, many seem unconvinced whether the firm can fly any higher. Chief executive Harriet Green is set to unveil a new strategy, [...]
No reason to fear UK downgrade November 26, 2012 THE downgrade of the UK’s credit rating by at least one of the three major agencies looks increasingly likely in the New Year. But losing the triple-A crown may not be such a big deal after all. The most important fallout from a downgrade will probably be political. George Osborne has hung his hat on [...]