THE TIPSTER November 11, 2009 DYED in the wool chartists may still be hanging onto the longer term downtrend in the S&P 500 and claiming that the 65 per cent recovery since March is just a bear market rally – or even a dead cat bounce. But reasons to be bearish on the US stock market are rapidly vanishing as [...]
Miners and Vodafone drag but banks offer some cheer November 10, 2009 BRITAIN’S leading share index ticked down 0.1 per cent yesterday, ending a four-day winning run, as weakness in miners and Vodafone offset strength in banks, underpinned by a strong update from HSBC. The FTSE 100 closed 4.63 points lower at 5,230.55, after hitting a two-week high earlier in the session. “After last week’s slew of [...]
Conflicting signals halt winning streak November 10, 2009 US stocks closed mostly lower yesterday as differing views on whether the market can build on recent gains stalled the S&P 500’s six-day winning streak. The Dow industrials eked out a small gain to set a fresh 13-month high as cautious statements on the economic outlook from several Fed officials underscored the belief that easy [...]
DIRECTORS: PREPARE FOR INSOLVENCY November 10, 2009 JULIAN TURNERPARTNER, REED SMITH LAST week the Insolvency Service released its statistics for the third quarter, showing that the number of company insolvencies – including liquidations, administrations and receiverships – were slightly lower than they were for the second quarter of the year, but significantly higher than for the same period in 2008. There were [...]
Euro expected to stay painfully strong in run-up to Christmas November 10, 2009 AFTER only a few weeks of respite for European policymakers, the euro is once again edging back up to test the critical $1.50 level against the US dollar. So far, at least, momentum has been unable to carry the pair through this psychological resistance level for an extended period of time. Officials in the Eurozone [...]
Oversold pound offers buying opportunities November 10, 2009 RATINGS agencies might have got a bad press during the financial crisis but yesterday’s volatile moves in sterling-US dollar indicate that they still command plenty of attention from the markets. David Riley, Fitch’s co-head of global sovereign ratings, told Reuters Television early yesterday morning that Britain’s coveted triple-A rating is more at risk than that [...]
AUSSIE AN FX OPTION FOR GOLD BULLS November 10, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT THIS week gold reached a record high, breaking the key $1,100 an ounce level after the central bank of India purchased 200 tonnes from the International Monetary Fund – the largest such transaction by a central bank in over 30 years. Analysts’ opinions regarding this latest surge varies greatly, [...]
Eco case raises philosophical questions November 10, 2009 ALL those people who designated their religion as “Jedi Knight” in the last census may have delighted at the case of the so-called “eco-employee” last week. The employee in question is Tim Nicholson, who formerly worked for residential landlord Grainger. Nicholson claims that he was made redundant because of his environmental beliefs, and has been [...]
THE TIPSTER WEAK DOLLAR OFFERS BUYING OPPORTUNITIES November 10, 2009 THE dominant theme in the currency markets at the moment is the question mark hanging over the value of the dollar and whether the greenback’s weakness will continue. The single currency is once again at the key $1.50 level as the weak dollar continues to drive euro-dollar higher. There is strong resistance between 1.5000 and [...]
Banks are in the dock as litigation lawyers look for soft City targets November 9, 2009 LAUNCHING a lawsuit against a major bank has never been easy. As anyone who has been involved in heavyweight litigation knows, the process of bringing a claim of any kind is expensive, hazardous and distracting. Regardless of the merits, no bank is likely to roll over very easily when faced with legal action. In order [...]