LISTED PRODUCT NEWS March 17, 2010 BASIC RESOURCES ETF OUTPERFORM Basic resource-related ETFs issued by ETF Securities saw fantastic performance last week as investors regained their appetite for risk. The ETFX Dow Jones STOXX 600 Basic Resources Fund rose by over 9 per cent last week and the ETF is up 130.9 per cent on this time last year. The ETFX [...]
Placing of shares makes G4S look less secure as markets enjoy a strong day March 17, 2010 SHARES in security services group G4S were the biggest fallers in the leading index for the second day running, even as the market closed near a 21 month high on renewed economic optimism and a spate of takeover news. Hot on the heels of a disappointing 2010 forecast, G4S was hit by news of the [...]
NYSE trading light before quadruple witching hour March 17, 2010 US stocks gained yesterday, pushing the Dow to a 17-month high, after a benign February inflation reading supported the Federal Reserve’s renewed pledge of low interest rates. The market reacted positively to a drop in the February Producer Price Index, further supporting the near-zero interest rates that have propelled the rally in equities. On Tuesday, [...]
These days, the beautiful game is as much about the bottom line as goals March 17, 2010 I T used to be the case that the biggest day in a football fan’s life was a trip to see their side at Wembley in a cup final. For many football fans, though, it’s no longer the dream destination of Wembley that keeps them up at night. Instead, it’s the prospect of a High [...]
Policy mix in Japan not good news for the yen March 16, 2010 SPECULATION has been rife in the markets that the Bank of Japan is mulling new liquidity measures to fight the deflationary pressures that are building in the Japanese economy. And yesterday, Japanese finance minister Naoto Kan added fuel to the speculative fire, saying that the central bank can make an inflationary impact with monetary policy. [...]
YUAN CHANGE DEPENDS ON US RECOVERY March 16, 2010 LAST weekend Chinese Premier Wen Jiabao dismissed any possibility of an immediate yuan revaluation, noting: “I understand that some countries want to increase their exports, but I don’t understand the practice of depreciating their currency and forcing others to appreciate theirs in order to accomplish this. I think this is a type of trade protectionism.” [...]
Fiscal medicine heals Hungary’s economy March 16, 2010 THE Greek debt crisis has had some unexpected consequences. For example, it has highlighted the relative stability of the economies of Eastern Europe. Hungary, which went through its own debt crisis in October 2008 and required a €20bn bailout by the IMF and the EU, has since been on a fiscal road to recovery and [...]
FOREX FLASH March 16, 2010 ROUBLE COULD STRENGTHEN 20 PER CENT The Russian rouble could strengthen by as much as 18 to 20 per cent over the next three years, the Russian deputy economy minister Andrei Klepach said yesterday. Klepach warned that this appreciation would hurt manufacturers and limit economic growth. He added: “We are not ready to move to [...]
Capitalise on bear squeezes to short cable March 16, 2010 IT DOESN’T take a lot to move the pound nowadays. Whether it’s weak data, a policymaker speaking or a ratings agency firing another warning shot over 10 Downing Street – and there have been plenty of all three over recent weeks – sterling is only responding in one way at the moment: down. Against the [...]
THE TIPSTER March 16, 2010 STERLING has been the whipping boy of the markets recently. Fears about a hung parliament and worries about the UK’s large fiscal deficit have weighed on the pound. It has fallen more than 4 per cent against the euro, but technical indicators are suggesting it could have fallen too far. Euro-sterling is close to the [...]