Fiscal cliff fears hurt Wall St as talks continue November 14, 2012 US stocks fell one per cent yesterday as investors worried over US budget negotiations and a flare-up of violence in the Middle East. Investors are grappling with the impact of the US “fiscal cliff,” a series of mandated tax hikes and spending cuts that start to take effect early next year. US President Barack Obama [...]
Investor hopes over possible Spain bailout prop up shares on the FTSE November 13, 2012 BRITAIN’S FTSE 100 share index closed up yesterday, recovering from an earlier two-month low in late trade on renewed hopes that Spain will ask for a bailout, a move which is seen as an essential step towards solving the Eurozone crisis. Spanish bond yields fell and its main bourse index rallied on the expectations that [...]
Retail bump fails to curb a fall on Wall St November 13, 2012 US stocks sold off late in the session yesterday, led by a slide in Microsoft shares, though retailers were a notable bright spot after Home Depot raised its outlook. Microsoft was the most actively traded on Nasdaq, weighing on the tech-heavy Nasdaq Composite after the surprising departure of a key executive. The stock fell 3.2 [...]
US stocks flat ahead of policy debate on tax November 12, 2012 US stocks ended little changed after a lightly traded session yesterday as investors hedged bets before a policy debate aimed at heading off US tax hikes and spending cuts early next year. Firmer economic data from China and delays to an installment of Greek aid also were trading day topics. News that Chinese exports rose [...]
Banking shares lead FTSE as debt in Eurozone makes UK a safe haven November 12, 2012 BRITAIN’S FTSE 100 finished flat but outperformed European stocks yesterday, led by a financials sector that bucked the broader European trend as investors sought refuge from Eurozone debt distress. Financials, the broad sector which includes banks, insurers and asset managers, added 9 points to the FTSE 100 and ensured the blue-chip bourse finished in positive [...]
UK gilt yields may be ready to spike higher November 12, 2012 IF UK government bond yields jumped rapidly, the UK could be plunged into a credit crisis that would make the last time look mild. Institutional investors would be lumbered with illiquid assets that they could not shift, paralysing money markets. The chances are slim; but previous crises have taught us to be prepared. The UK [...]
How to trade a potential Greek exit from the euro November 12, 2012 FX360 TODAY Greece goes to the market with a €6bn (£4.8bn) bond auction. The country is looking to pick up sufficient funds to pay back the €5bn that falls due on Friday. Although the budget cuts that were approved on Sunday should be enough to release another tranche of emergency aid, there’s still the outside [...]
The Tipster | Miner to hit a rock November 12, 2012 SHAREHOLDERS in copper miner Antofagasta have had a mixed year, with the current rally hitting a solid rock around the £13.50 mark. Although production updates point to continued progress, doubts still persist whether the company can meet its full-year target. A slowing Chinese economy continues to cast a long shadow over the share price. IG [...]
It is still not clear whether China’s new leaders will advance economic reform November 12, 2012 JUST days after the re-election of Barack Obama in the world’s biggest economy, China is deciding who will run the world’s second largest. For investors looking to put their money into this fast-growing market, understanding both the views and backgrounds of China’s new leaders is of the utmost importance. Hopes are high that this leadership [...]
Analyst picks for 13 November 2012 November 12, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long Aussie dollar-yen, euro-dollar and gold Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days New trades were initiated on Friday, with the intention of looking for 1 to 2 per cent bounces from each. Although the risk environment has been [...]