The Tipster January 26, 2010 YESTERDAY’S fourth quarter GDP figure for the UK was uninspiring. The main casualty was sterling. In just two hours following the announcement sterling-US dollar had dropped by 100 points, extending a decline that has been in place for the past week. But sterling could have fallen too far. There are still plenty of events that [...]
Mining and energy stocks drag the FTSE lower for the fourth day in a row January 25, 2010 BRITAIN’S top share index closed lower yesterday for a fourth straight session, dragged down by miners and energy stocks on continued market unease over the uncertain demand outlook. The FTSE 100 closed down 0.8 per cent, or 42.68 points at 5,260.31, having ended 0.6 per cent lower on Friday, pressured by financial issues following President [...]
Wall Street is boosted by support for Bernanke January 25, 2010 US STOCKS snapped a three-day slide yesterday as signs that Federal Reserve Chairman Ben Bernanke would win a US Senate vote for a second term helped ease investors’ concerns. After the closing bell, iPod maker Apple reported sharp gains in quarterly revenue and profit, sending its shares 1.9 per cent higher to $207 in after-hours [...]
Luxury brands sure to suffer as consumers trade down January 25, 2010 THE LUXURY brands sector finished 2009 on a high note. Luxury goods groups including Burberry, Richemont and Swiss watch-maker Swatch all reported strong sales growth in the last three months of the year and stock prices have duly headed north as consumers snapped up handbags, jewellery and watches to beat the recession blues. But there [...]
DON’T FORGET THE IMPACT OF POLITICS January 25, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT LAST week equities hit a brick wall. The US fourth quarter earnings season has been a disappointment so far. Companies are finding that a decent result on the bottom line just won’t cut it with investors if revenues haven’t improved. Also, the actions taken by the People’s Bank of [...]
CFD ANALYST PICKS January 25, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Short FTSE at 5,500 Expertise: Technical analysis Average time frame of trades: 5-10 days Explanation: Last week’s recommendation – short FTSE – has worked and we are now fast approaching our objective. But we also realise that markets have been quite choppy, and with the index testing key rising [...]
New rules for whistleblowers will do no good January 25, 2010 JOANNA CHATTERTON EMPLOYMENT PARTNER, FOX WILLIAMS LLP SINCE 1998, employees who raise concerns about possibly unlawful activities by their employer have enjoyed protected status. Employment tribunals have not been obliged to pass information on to the police or any regulatory body about alleged wrongdoing. Unless the whistleblower does so, they often never know about it. [...]
An oath can’t make lawyers more honest January 25, 2010 BIG changes are afoot in the legal world, not least those arising from the reforms which the profession is going to see under the Legal Services Act. This will include the introduction of so-called Tesco Law, which will see non-lawyers increasingly involved in the provision of legal services. In the face of this brave new [...]
How studying Goldman Sachs can help you become a better trader January 24, 2010 LAST week, Goldman Sachs announced profits of more than $13.3bn, even as some of its competitors continue to struggle. So what is the bank doing so right? We look at five ways you can adapt your hedging, research and risk styles to a Goldman style and hopefully boost your revenues. 1. Do your research Goldman’s [...]
MANAGE RISK CAREFULLY IN CHOPPY TIMES January 24, 2010 FOLLOWING Barack Obama’s attack on Wall Street towards the end of last week, the markets suffered the sort of wobble that some had thought we had seen the last of. It proved once again that we are not out of the woods yet and was a reminder that spread betters have to be able to [...]