Fifth straight day of decline for the Dow July 11, 2012 THE DOW and the Nasdaq lost ground yesterday as minutes from the Federal Reserve’s June meeting showed policymakers are open to the idea of more economic stimulus, but that conditions might need to worsen first. The S&P 500 ended unchanged, breaking a four-day losing streak, after paring losses into the close. Technology and industrials led [...]
In sickness and in health: An illness won’t ruin your career July 11, 2012 ANTONIO Horta-Osorio has been back as chief executive of Lloyds Bank since January. His absence began in November 2011, and was famously attributed to exhaustion caused by the pressures of his job. His is a reassuring story – a successful executive, overcome by poor health, could reveal it to colleagues and return to his previous [...]
Firmer performances by financial stocks lift FTSE as volumes stay thin July 10, 2012 A RECOVERY in beaten-down financial stocks pushed Britain’s benchmark share index higher yesterday, although volumes were thin, indicating a lack of conviction in the rally due to fears over the Eurozone debt crisis and the weak global economy. The blue-chip FTSE 100 index closed up 0.7 per cent, or 36.74 points, at 5,664.07 points, recovering [...]
US technology stocks drive down markets July 10, 2012 U S stocks fell for a fourth day yesterday as more pessimism from American companies compounded worries the sluggish world economy is taking a toll on US profit growth. A sales warning from engine maker Cummins came on top of earlier weak forecasts from chipmakers Applied Materials and Advanced Micro Devices, causing the market to [...]
A retailer with a view: Long term partners in London’s 2012 Games July 10, 2012 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 16 DAYS TO GO Q What are your reasons for being involved with the Games? A The history of our involvement goes back years. We signed up to opening our new shop in Stratford before we even knew that London was successful. That decision was generated by our [...]
Oil and mining shares weigh down on FTSE as third quarter rally fades July 9, 2012 COMMODITY stocks led Britain’s top share index lower yesterday as equities’ bright start to the third-quarter continued to fade against a backdrop of waning global growth and as investors geared themselves up for the earnings season. London’s blue chip index closed down 35.30 points, or 0.6 per cent at 5,627.33 and is now 1.8 per [...]
Global worries hit as Wall St awaits earnings July 9, 2012 STOCKS in the US slipped in light trading yesterday, weighed down by weak economic data from Asia and signs of economic trouble in Europe, underscored by higher Spanish and Italian bond yields. Yesterday’s decline, the third in a row for the S&P 500 index, comes as quarterly earnings reports get under way. Investors are anxious [...]
Profit from the race to get America working July 9, 2012 WITH the US continuing to produce lackluster macro data and the presidential elections now less than four months away, eyes are on America’s two most powerful politicians – President Barack Obama and Federal Reserve Chairman Ben Bernanke – for signs of any moves to give the economy a boost. POOR QUALITY LABOUR Obama will today [...]
RATE CUTS AREN’T ENOUGH TO SOLVE ECONOMIC GLOOM July 9, 2012 FX360 LAST Thursday brought rate cuts from the European Central Bank (ECB), the People’s Bank of China (PBOC), and the Danish and Kenyan central banks. On top of this, the Bank of England’s Monetary Policy Committee (MPC) raised its asset purchase facility by a further £50bn. Whether coordinated or not, these actions represented substantial monetary [...]
