THE TIPSTER July 12, 2010 INVESTMENT management company Ashmore Group releases its trading update tomorrow. It was recently recommended as a “buy” by KBC Peel Hunt as it should benefit from continued allocation of investment funds to emerging markets and European corporate credit markets. Ashmore’s shares have risen 10 per cent since then, but are still 2 per cent down [...]
BP gains while UK economic headwinds subdue the FTSE July 12, 2010 A JUMP in the share price of BP on hopes that the Gulf of Mexico oil leak will soon be capped outweighed a weakness in miners to push the FTSE 100 share index higher for a fifth session yesterday. The index closed up 34.08 points, or 0.7 per cent, at 5,167.02 having last week gained [...]
Traders hold their breath for results July 12, 2010 CAUTION prevailed in the US stock market yesterday, with indexes edging higher as investors kept bets to a minimum in front of earnings. Volume was among the lightest of the year with investors wanting to see if corporate outlooks validate last week’s surge, the strongest week in a year. Dow component Alcoa reported its second-quarter [...]
US second quarter earnings steer shares upward July 11, 2010 European stock markets are headed higher once again on the open this morning, continuing last week’s buying spree which gave us the biggest weekly rally in a year. GFT is quoting the FTSE 100 index to open up 35 points from Friday’s close, at 5,167. The German DAX is also expected to start higher, up [...]
JAPANESE MARKET July 11, 2010 Japanese shares and government bonds are likely to face initial selling pressure today after the government lost an upper house election – a reverse that could thwart its ambitions to curb public debt. Longer term, though, markets will eye which smaller parties the ruling Democratic Party allies with, what policy compromises it makes and whether [...]
The markets are on the turn, but only in the short-term July 11, 2010 THE success of Paul the octopus at predicting the outcome of World Cup matches has left many spread betters green with envy at his powers. What would be better than being able to predict with accuracy the bottom of the market? But in the absence of any psychic ability, traders have to rely on market [...]
The unreliability of the Baltic Dry July 11, 2010 SINCE the end of May, the Baltic Dry Index, which measures worldwide international shipping prices of dry bulk, has plummeted some 50 per cent. It has now fallen for 31 consecutive days – its worst run in more than six years – raising concerns among investors about both the outlook for world trade and for [...]
THE TIPSTER July 11, 2010 AFTER this column tipped a sell of dollar-Canadian dollar at C$1.0675 on Tuesday of last week, the loonie rallied hard against the greenback late in the week and dropped all the way down to C$1.0303 by Friday afternoon. The market has suddenly started to price in a possible interest rate hike in Canada following the [...]
SPREAD BET GURU July 11, 2010 MARKET STRATEGIST [email protected] Q. Dear Josh, which are the major companies announcing this week and what is the sentiment likely to be for the new earnings season? A. This week marks the start of the second quarter US earnings season and already we have started to see equity prices fluctuate in anticipation of results. Last [...]
Bidding war for state’s banking assets boosts FTSE 100 as financials rally July 8, 2010 BANKS lifted Britain’s top shares yesterday, with Royal Bank of Scotland and Lloyds Banking Group top performers on reports that a new bid vehicle will seek to buy British banking assets. The FTSE 100 index was up 90.63 points, or 1.8 per cent, at 5,105.45, rising for a third consecutive day. It closed up 49.82 [...]