MARKET NEWS June 30, 2010 ETF SECURITIES’ AUM SOAR Exchange-traded funds (ETFs) provider ETF Securities has seen its assets under management (AUM) soar to $20bn as of 17 June, up 70 per cent on July 2009. Its holdings in Europe for its gold exchange-traded products have now surpassed a record $10bn, which is the largest in Europe. Its physical gold [...]
THE TIPSTER June 30, 2010 A MONTH ago we pointed out that the outlook for Ladbrokes was bearish with the shares looking more likely to go down than up. Since then, Ladbrokes has fallen 7 per cent, despite what should be a profitable World Cup and the outlook has got even worse. It closed at a 6-month low at 131p, [...]
AstraZeneca leads flat FTSE after US patent win as BP rises on takeover talk June 30, 2010 BRITAIN’S leading share index was flat yesterday after a choppy session on the last day of the second quarter, with gains by AstraZeneca after a key US patent was upheld just countering weakness in miners. At the close, the FTSE 100 was up 2.65 points, or 0.1 per cent at 4,916.87, notching up a 13.4 [...]
US stocks fall at end of worst quarter since 2008 US stocks fall at end of worst quarter since 2008 June 30, 2010 US stocks staggered to the end of a dismal second quarter yesterday in another low volume session as investors found little reason to take on risk after conflicting economic data. The day ended like many during the quarter, with a late-day sell-off as buying interest waned and investors sold underperforming stocks in the worst quarter [...]
How to learn from Capello’s mistakes June 30, 2010 POOR defending, non-existent marking, a lack of passion – there are numerous reasons for England’s horrible World Cup performance. Interestingly, though, many have argued that all the problems on the field were symptoms of troubles off it. The team, it appears, didn’t get on with the manager. Capello’s boot-camp culture clashed with the laid-back attitude [...]
When work becomes a religious experience June 30, 2010 THE WAY WE’RE WORKING ISN’T WORKING BY TONY SCHWARTZ, JEAN GOMES AND CATHERINE MCCARTHY, £12.99 THE title might sounds a bit like the election poster from 1979 that proclaimed “Britain isn’t working”, but this book is American through and through. It reached number two on the New York Times Best Sellers List, which suggests that [...]
FTSE drags with not a single riser June 29, 2010 BRITAIN’S top share index hit a near 10-month closing low yesterday, led down by mining stocks and banks, as risk appetite was hurt by renewed concerns over the strength of global recovery and Europe’s debt problems. The FTSE 100 closed down 157.46 points, or 3.1 per cent, at 4,914.22, its lowest close since 4 ?September [...]
Economic gloom rocks US markets June 29, 2010 INVESTORS fled the US stock market yesterday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook. All but one stock in the S&P 500 ended lower as escalating doubts about the stability of Europe’s banks roiled markets [...]
Risk aversion will undermine euro June 29, 2010 DEMAND for risky assets has been undermined this week by concerns about both the strength of the US recovery and that Chinese growth may not be as rapid as had previously been thought. The euro has also started to wobble again, destabilised by a resurgence in fears about Europe’s banking sector. These worries about the [...]
Life settlement is the ultimate diverse asset June 29, 2010 ONE of the steps to fund management nirvana is ensuring that your portfolio is fully diversified. And after the financial crisis, the life settlements market could be the perfect uncorrelated asset. The market works like so: people – typically who reside in the US – sell their life insurance policies to the secondary market, which [...]
