US enjoys positive company reports July 30, 2009 US STOCKS rose yesterday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500’s two days of losses. The market’s rally pushed the benchmark S&P 500 index earlier in the session to its highest intraday level in almost nine [...]
The subtle art of effective networking July 29, 2009 SINCE the Eighties heyday of power lunches and bulging Filofaxes, networking – the mysterious art of forming relationships with strangers for somewhat mercenary purposes – has been central to City life. To some it’s a necessary evil, to others it’s exciting – but in a recession-affected job market, it can be the difference between progressing [...]
FTSE 100 hangs in there as investors regain confidence July 29, 2009 THE FTSE 100 rose yesterday as gains from financial stocks, boosted by strong numbers from the UK arm of Spain’s Banco Santander, and positive broker comment, outweighed a weak mining sector. The index closed 18.69 points, or 0.4 per cent, higher at 4,547.53, after ending 1.3 per cent lower on Tuesday when it failed to [...]
China’s banks weigh heavily on Wall St July 29, 2009 US STOCKS fell yesterday as investors worried that China’s banks could hit the brakes on lending to stem market excesses, a move that could curb the global economic recovery. Concerns about China hurt commodity prices and hit shares in the energy and raw materials sectors, while a steep drop in US durable goods orders in [...]
Bullish Aussie dollar will be threatened by Chinese bubble July 28, 2009 THREE weeks ago, risk aversion was firmly back in the markets and commodity currencies were looking shaky. But equities and commodities have been surging across the board as investors rediscover their taste for risk. In such an environment, the Australian dollar ought to be doing well thanks to its economy’s dependence on exports of base [...]
Slowly but surely, signs that the law is opening up July 28, 2009 IQUALIFIED – against all odds – to become a lawyer,” recalled Constance Briscoe, barrister, part-time judge and author of the bestselling misery memoir Ugly. She was talking on Radio 4’s PM programme last week following the report by an all-party panel chaired by former cabinet minister Alan Milburn on social mobility and the professions. “I’ve [...]
WOMEN LAWYERS IN THE CITY July 28, 2009 CLARE MCCONNELLPARTNER, STEPHENSON HARWOOD AND CHAIR, ASSOC OF WOMEN SOLICITORS SURVEYS continue to show that the progress of women lawyers in the profession, and into partnership, has stalled. Even in the 21st century it is still true that women shoulder the majority of the responsibility for childcare or care of other dependants even when they [...]
Falls in mining and energy halt FTSE’s winning streak July 28, 2009 THE FTSE 100’s two-week winning streak finally came to an end yesterday, with the benchmark index closing 1.3 per cent down on the day. The blue chip index had looked set to put in another consecutive day’s gain in earlier trading, but profit taking in mining and energy stocks dragged it lower. The FTSE 100 [...]
Healthcare shares fend off US slump July 28, 2009 THE Dow and S&P 500 stock indices both put in slight falls yesterday, recovering from sharper declines in earlier trading, as investors shrugged off weak consumer confidence data and focused on positive earnings reports. Stocks in the healthcare sector led the afternoon rebound, with biotech shares rising a day after Amgen’s strong quarterly earnings report. [...]
OVERBOUGHT EURO HAS CAP TO ITS UPSIDE July 28, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT ON Friday, the US Commodity Futures Trading Commission (CFTC) released their weekly commitment of traders (COT) report for currency futures. Since the spot currency market is decentralised, there are no reports about positioning data. Therefore, the COT report is the only publicly available piece of data that provides information [...]
