UK banks might look cheap, but pick carefully September 20, 2010 UK BANKING stocks rallied last week after the announcement of the Basel III banking reforms. But although the sector has avoided further bank-bashing, much of the detail has yet to emerge and a jumpy market should make for fruitful autumn trading. New capital ratio requirements made most of the Basel III headlines, with Tier 1 [...]
THE TIPSTER September 20, 2010 BP’S NEWS that the Macondo well in the Gulf of Mexico has finally been completely capped came as welcome news. The stock has responded well, rising over 1 per cent in early trade yesterday. This could be an opportunity for the oil giant to draw a line under the catastrophe and hopefully regain some of [...]
Positive open is forecast after jumpy trading September 19, 2010 A mildly positive start is the call for stocks this morning, but after Friday’s jumpy trading session sentiment is mixed. GFT is quoting the FTSE 100 index to open up 8 points from Friday’s close, at a level of 5,516. The German DAX 40 is expected to open up 9 points at 6,218, and the [...]
China is sowing the seeds of a bull market in wheat and corn September 19, 2010 SHARP rises in food prices over the summer raised the ugly spectre of riots and civil unrest across the developing world and rampant inflation in Western countries. In August a Russian ban on wheat exports caused the price to spike, prompting some countries like Egypt to aim for self-sufficiency. The surge was short-lived but the [...]
Set your trades on firm foundations September 19, 2010 HOUSE asking prices fell again today, dropping by 1.1 per cent – that is £2,474 – over two points in the house price spread better’s mind. But those tempted by the news on page one should not rush into a trade before taking a moment to contemplate the make up of the index. Today’s figures [...]
THE TIPSTER September 19, 2010 THIS column tipped WTI Crude as a sell last Tuesday in the $77-$78 range and this proved profitable as crude slid from a high of $77.93 to a low of $74.12 by Thursday. The outlook is still bearish and the 100-day simple moving average around $76 is a good level at which to start shorting [...]
SPREAD BET GURU September 19, 2010 MARKET STRATEGIST [email protected] Q. Dear Josh, do broker recommendations fundamentally move stock prices? A. In the short term, certainly. It’s quite common for a mainstream broker or investment bank like Morgan Stanley or Citigroup to revise their forecasts on certain share prices and see a knee-jerk reaction in the markets. Last week we witnessed a [...]
FTSE weighed down by banks and UK economic data, despite energy surge September 16, 2010 BRITAIN’S top shares closed lower yesterday, weighed by banks which slipped after recent strength, while retailers fell on downbeat UK economic data, countering gains in energy stocks. The FTSE 100 closed down 15.42 points or 0.3 per cent, at 5,540.14, having fallen 0.2 per cent in the previous session. That was its first daily decline [...]
FedEx cautious forecast keeps US stocks on hold September 16, 2010 US stocks were little changed yesterday as mixed economic data and a cautious forecast from economic bellwether FedEx kept the market locked in its recent tight trading range. Shares in FedEx fell 3.7 per cent to $82.72 after the company forecast quarterly profit below Wall Street’s expectations and warned the recovery may slow. A drop [...]
Don’t get caught out by CGT September 16, 2010 BRITONS are set to waste over half a billion pounds this tax year in unnecessary capital gains tax (CGT) payments, research from unbiased.co.uk revealed earlier this week. The professional advice website said that UK taxpayers will waste £552m by not being CGT-efficient and warned that the capital gains tax rate rise to 28 per cent [...]
