Worldwide uncertainty rocks Wall St November 16, 2010 US stocks fell nearly two per cent yesterday as the prospect of more European bailouts and worries China will rein in inflation prompted investors to abandon risky assets. One result was a slide in resource stocks, such as Alcoa, which fell 2.8 per cent to $13.03, and Exxon Mobil, which dropped 2.2 per cent to [...]
Steady income and performance to boost investment trusts’ popularity November 16, 2010 AFTER a decade in the financial wilderness, investment trusts are emerging, blinking, back into the mainstream. Tainted by the split-cap scandal at the end of the Nineties, investors have favoured their open-ended cousins for the past decade. Yet investment trusts have, on the whole, outperformed the FTSE All Share and the FTSE World ex UK [...]
FUND MANAGEMENT NEWS November 16, 2010 MANAGED FUTURES TOP HEDGE FUNDS Hedge funds performed strongly in October with the Dow Jones Credit Suisse Hedge Fund Index rising 1.92 per cent in October. Managed futures was the top performing sector, finishing up 4.29 per cent as trend followers profited from positive commodity market performance, driven by concerns over limited sugar and wheat [...]
The market only cares about American yields November 16, 2010 THE currency market just doesn’t care about Japan at the moment. It didn’t even flinch when Monday’s third quarter GDP figures showed that its economy is expanding at a whopping annualised pace of 3.9 per cent. It just wasn’t interested in the fact that the manufacturing sector was boosted by the mass purchasing of air [...]
EURO WILL BE HIT BY FEARS OF FRACTURE November 16, 2010 BORIS SCHLOSSBERG DIRECTOR OF CURRENCY RESEARCH, GFT THE euro-dollar opened for trade this week haunted by the same sovereign debt concerns that dogged it the previous week. The problems with Ireland remained unresolved and media reports were rife with speculation that the ECB, EU Commission and the IMF all pressured the Irish government to accept [...]
Profiting from currencies is a difficult game November 16, 2010 IN 2004, Alan Greenspan denied that it was possible to make money by predicting what is going to happen to currencies. As he put it: “My experience is that exchange markets have become so efficient that virtually all relevant information is embedded almost instantaneously in exchange rates to the point that anticipating movements in major [...]
FOREX ANALYST PICKS November 16, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy US dollar/Canadian dollar at Ca$1.0090 Expertise: Technical analysis Average time frame of trades: 1 month-3 months Setbacks have been well supported by parity, and the market finally looks like it could be in the process of carving out yet another base. A break and close back above Ca$1.0100 [...]
THE TIPSTER November 16, 2010 THE aftermath of the G20 seemed to trigger a bout of dollar short covering this week as the greenback has gained against most majors. Dollar-yen was breaking through the strong ¥83.20 resistance level yesterday, above which there are rumoured to be large stops located. If the dollar breaks through with conviction then it could easily [...]
Six ways to prepare yourself for the UK’s new Bribery Act November 16, 2010 BUSINESSES are concerned that they will have little time to meet the demands of the Bribery Act when its offences come into force next year. If they wait for the government’s guidance on “adequate procedures” to be published, it may be too late to make the required adjustments. When the Bribery Act offences come into [...]
BRIEFS | LEGAL NEWS November 16, 2010 BERWIN MERGER CALLED OFF The long-running talks about a merger between City firm SJ Berwin and American firm Proskauer Rose have been called off. It had been worried that the talks were unsettling partners, some of whom are thought to have been unhappy about the tie-up. The firm said that it would still consider an [...]