Business must help investors to join the dots December 2, 2009 THROUGHOUT the last decade, companies have expanded considerably the depth, breadth and reach of their financial communications to the market, in response to heightened investor and analyst demands and as a result of enhanced financial-reporting requirements. But the financial crisis has magnified market sensitivity to these communications – often described by analysts and investors as [...]
Mining stocks lead weaker banking and power firms December 2, 2009 Britain’s leading share index ended 0.3 per cent higher yesterday as mining firms gained on the back of higher commodity prices, outpacing some weakness in banks and energy stocks. The FTSE 100 closed 15.22 points higher at 5,327.39, adding to Tuesday’s strength when the index recorded its biggest one-day gain in more than four months [...]
SPEAKER’S CORNER December 1, 2009 KERRY GARCIASTEVENS & BOLTON LLP EARLIER this year, the government stated that it supported “British jobs for British workers”. But that policy is beginning to damage British business and the economy. In 2008, Tier 2 of the Points Based System replaced the work permit scheme. Many companies have registered as sponsors with the UK Border [...]
How to be sure that a breakout is for real December 1, 2009 FOR the past two months, currency traders have been wondering whether euro-dollar will manage to break through the $1.50 level. The pair has made several tests of this psychological resistance level but has so far been unable to consolidate any gains made. Jumping on board a breakout can be a highly successful strategy, but all [...]
FOREX FLASH December 1, 2009 Australia raises cost of borrowingAUSTRALIA’S central bank yesterday hiked interest rates by 25 basis points to 3.75 per cent, citing strong employment growth, improving business confidence, and solid export demand from Asia. This was a third month in a row that the Reserve Bank of Australia (RBA) has chosen to raise rates. The central bank [...]
Dow posts gains on recovery hopes December 1, 2009 THE Dow Jones industrial average climbed to its highest close in 14 months on yesterday as a weak dollar boosted natural resource companies’ shares and economic data reinforced hopes for a sustainable recovery. Sentiment also got a lift as concerns receded about the impact of Dubai’s debt trouble after news that Dubai World planned to [...]
The Americanisation of the SFO is not the way to stamp out UK fraud December 1, 2009 THIS year began with an announcement by the Serious Fraud Office (SFO) that it was investigating potential UK criminality arising out of the Bernard Madoff Ponzi scheme scandal. Richard Alderman, the SFO’s director, hailed the investigation as an example of the “new, faster approach to tackling fraud”. So as the year draws to a close, [...]
STERLING AT THREAT FROM A SELL OFF December 1, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT LAST week, economic data throughout the G10 was generally positive and supported the risk rally that saw most of the high beta currencies reach yearly highs against the dollar. But just as US traders prepared to sit down to a Thanksgiving meal, the unexpected news from Dubai quickly unwound [...]
Shares rally as doubts over Middle East start to subside December 1, 2009 BRITAIN’S top shares ended 2.3 per cent higher yesterday and posted their biggest daily gain in 4-1/2 months, with banks and commodity shares rising as worries over Dubai’s debt problems faded. The FTSE 100 closed up 121.49 points at 5,312.17, its best one-day percentage gain since July 15. On Monday, the index fell 1.1 per [...]
Your attitude to risk key to 2010 trading December 1, 2009 IT WAS no surprise that the Dubai debt scare saw investors running back to safe-havens such as the US dollar, Japanese yen and the Swiss franc. Risk appetite is one of the biggest drivers of the foreign exchange markets. The story of recent months in forex markets has been one of increasing investor confidence, which [...]