Wall St sees end of 5-day winning run March 14, 2012 THE S&P 500 broke a five-day streak of gains yesterday as investors found little reason to extend a rally that took the benchmark index to four-year highs. Momentum continued in Apple, as its shares climbed 3.8 per cent to $589.58 following positive analyst comment. Morgan Stanley and Canaccord Genuity both lifted their price targets to [...]
Miners put end to FTSE’s positive run March 14, 2012 BRITAIN’S top share index retreated yesterday, having flirted with the 6,000 level due to a more promising global economic outlook and robust earnings, with heavily weighted miners hit by concerns over Chinese demand. After five successive days of gains, the longest winning streak since last summer, the FTSE 100 ended down 10.48 points, or 0.2 [...]
Five investment myths dispelled March 14, 2012 Financial wisdom hasn’t been nullified by the latest crises 1 THE GLOBAL FINANCIAL CRISIS WAS A BLACK SWAN This is perhaps the biggest myth about the crisis. By definition, a black swan is an unprecedented major catastrophic event. However, there were many previous such crises whose long history motivated the late Hyman Minsky – writing [...]
Financials and miners lift the FTSE to a new high for 2012 March 14, 2012 BRITAIN’S FTSE 100 closed at its highest level this year yesterday as banks and miners rallied after encouraging economic data out of Europe and the US, although volumes were weak and traders said the market could be nearing its top. London’s blue chip index closed up 63.16 points, or 1.1 per cent at 5,955.91, but [...]
Banks boost rally across Wall Street March 14, 2012 THE US stock market posted its best day this year, with yesterday’s late spark coming from JPMorgan Chase & Co after the bank announced it will raise its dividend. Stocks gained throughout the session, helped by stronger-than-expected retail sales and benign comments from the US Federal Reserve, which said recent strains on financial markets were [...]
Keeping the world’s most complex event on the right side of the law March 14, 2012 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 135 DAYS TO GO Tim Jones explains why Freshfields is the official legal services provider to the 2012 London Olympics Q. what was your brand’s primary reason for being involved with the games? A. We’d been involved for a long time, since 2003 when we worked on the [...]
Dollar boosted by Fed QE3 stimulus restraint March 14, 2012 THE Federal Open Market Committee (FOMC) followed expectations by holding rates yesterday, and at the same time dispelled the possibility of an immediate third round of quantitative easing (QE3). Federal Reserve chairman Ben Bernanke pointed to “an improving economic situation”, though checked any untoward optimism by acknowledging that economic growth would be moderate. The central [...]
RESOLUTION OF GREEK DEBT CRISIS IS KEY March 14, 2012 UK BRANCH MANAGER, EASY-FOREX IS THE Greek debt restructuring a turning point in the EU debt crisis? Despite the announcement of a Greek debt restructuring, the country’s debt woes are far from resolved. Even with the successful debt swap, the Greek debt burden will remain above 120 per cent of gross domestic product, which the [...]
FTSE lifts as defensive gains offset miner and bank losses March 12, 2012 BRITAIN’S blue-chip index ended with a small gain yesterday, as profit-taking on mining companies and banks was offset by gains among defensive shares. The FTSE 100 index ended up 5.26 points, or 0.1 per cent, at 5,892.75, having traded 90 per cent of its 90-day volume average. The index only moved into positive territory late [...]
US stocks up ahead of Fed’s statement March 12, 2012 DEFENSIVE names rallied in an otherwise flat day for Wall Street yesterday as investors paused after recent gains and looked ahead to the Federal Reserve’s monetary policy statement. Investors will eye today’s statement from the US central bank’s Federal Open Market Committee to see whether the Fed will cool down expectations of more easing of [...]
