German data and Spain auction lift FTSE December 20, 2011 BRITAIN’S top share index hit a one-week closing high yesterday, after a drop in Spain’s borrowing costs and encouraging data from Germany overshadowed fears over Europe’s debt crisis. Short-term financing costs for Spain more than halved as banks lapped up debt at an auction, with much of the purchasing power said to have come from [...]
Krona and krone won’t be safe-haven kings December 20, 2011 ALONG with Apple’s shares plummeting 50 per cent in value, Australia’s looming recession and wheat doubling in price, in its self-styled outrageous predictions for 2012, Saxo Bank speculates that Sweden and Norway could replace Switzerland as the safe haven currencies of choice. But could Sweden’s krona or Norway’s krone really become the security blankets for [...]
THE POUND IS ABOUT TO HIT TURBULENCE December 20, 2011 THIS year, trade in sterling has been relatively subdued. With market attention focused on the euro, UK credit markets escaped scrutiny. This lack of limelight helped cable to maintain relative strength throughout the year. Some traders even argued that the pound deserved to be viewed as a safe-haven currency given the country’s independent monetary policy. [...]
FOREX ANALYST PICKS December 20, 2011 FOREX STRATEGIST JOEL KRUGER My pick: Long euro-yen at ¥101.70 Expertise: Technical analysis Average time frame of trades: Multiweek Euro-yen is trading near multi-year lows and just off the psychological barrier of ¥100.00. The recent failure to break below this and a subsequent minor bounce suggests we could be seeing the formation of a material [...]
THE TIPSTER ECONOMIC FUTURE MIGHT REIN IN KRONA PRESENTLY December 20, 2011 THERE’s no shortage of debate as to where Santa Claus actually lives – but deep forests, plenty of snow, an abundance of reindeer and an economy that has in recent years seemed to be tinted with magic certainly makes a compelling case for Sweden. With its resource based economy, it’s perhaps no surprise that the [...]
Preparing for flawless execution: BT takes on the Olympic challenge December 20, 2011 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 219 DAYS TO GO Gavin Patterson, BT Retail chief executive, explains why his firm is the communication partner at the Games Q. WHAT WAS YOUR BRAND’S PRIMARY REASON FOR BEING INVOLVED WITH THE GAMES? A. We went through a rigorous exercise where we looked at what impact it [...]
Bank of America leads US stock fall December 19, 2011 BANKS dragged the US stock market lower yesterday, with losses accelerating late after Bank of America’s stock price fell below $5 for the first time in nearly three years. When BofA, the largest US bank, plunged through $5, it ignited a late-day decline in the sector and the broader market, which fell by one per [...]
Santa rally looks unlikely as FTSE loses ground on very light volumes December 19, 2011 BANKS dragged the FTSE 100 lower in extremely light trade yesterday after the British government estimated the cost to banks of reforming the UK banking system could be as much as £8bn. London’s blue chip index was down 22.35 points, or 0.4 per cent, at 5,364.99, with volumes at just 67 per cent of their [...]
Looking at 2011 to show you the money in 2012 December 19, 2011 IN TRADING, as in much of life, there exists a delicate balance between diving headfirst into the future and poring over every historical detail before acting. The former risks ignorance, with your head stuck in the sand, while the latter can result in the repetition of past mistakes and a failure to seize the day. [...]
EQUITY GAINS RELIANT ON EURO-DOLLAR December 19, 2011 WE’RE now into the last trading week before the Christmas break. Traders and investors will be hoping for less volatility following recent market turmoil. After all, they won’t want their long Christmas lunches interrupted by desperate calls from the office. It hasn’t been the best year for long-only equity investors, especially those who have followed [...]