MARKET NEWS August 4, 2010 SOCGEN OFFERS NINE NEW WARRANTS This week saw the launch of nine new covered warrants from Societe Generale. Four are cocoa call warrants; the rest are divided between two dollar-Swiss franc put warrants that expire in December and three copper put warrants. Meanwhile, RBS Markets has launched two new products: one is the UK Accelerated [...]
Individual banks buck dreary session as volumes stay thin August 4, 2010 LONDON equities ended flat yesterday as better-than-expected US services and private sector employment figures offset weaker retail shares that fell on concerns of a decline in consumer demand. The choppy session witnessed weaker banks, with the STOXX Europe 600 banking index down 0.4 per cent. Standard Chartered fell 5.2 per cent despite forecast-beating earnings, as [...]
Retail earnings give hope to Wall Street August 4, 2010 US stocks rose in thin trade yesterday as retailers’ earnings and a report showing a slight improvement in private employment boosted optimism ahead of Friday’s payrolls report. Priceline.com soared 22 per cent to $281.30 on its stronger-than-expected quarterly results and outlook, suggesting consumers are opening their wallets to spend on travel. Traders also noted many [...]
When relocation becomes a nightmare August 4, 2010 ON the first day of my new job my new employer has told me that they want me to move to Birmingham. This was never mentioned in the interviews and I assumed I would be staying in London. I don’t want to move. I am single, and I feel that if I had a family [...]
FTSE closes flat as Monday’s zeal for banks wanes and energy firms recover August 3, 2010 BRITAIN’S top shares ended steady yesterday as strength in oils offset falls in banks following weaker-than-expected US data that stoked concern about the strength of the economic rebound. The FTSE 100 closed down 0.63 point at 5,396.48 following a 2.7 per cent gain on Monday to a three-month closing high. “Weak US data in the [...]
Procter & Gamble drags on Wall Street in flat day August 3, 2010 US stocks slipped yesterday as Dow component Procter & Gamble’s lacklustre results, coupled with weaker-than-estimated data on consumer spending and housing, prompted investors to exercise caution a day after the market’s two per cent rally. P&G dropped 3.4 per cent to $59.94, ranking as the top drag on the Dow industrials after the consumer goods [...]
Aussie’s hot August run August 3, 2010 IT WAS no change yesterday for the Reserve Bank of Australia, which agreed to keep the cost of borrowing on hold at 4.5 per cent for the third consecutive month. This signalled continued stabilisation in the Australian economy, which is good news for its first female prime minister Julia Gillard. The decision to hold rates [...]
TREAT RALLY IN THE POUND WITH CARE August 3, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT TO THE surprise of many market analysts, including yours truly, sterling has been on a tear lately. Not only has the pound rallied, but it has significantly outperformed the euro, gaining more than 200 pips on the continental currency over the past several weeks. So why such sudden explosive strength [...]
Go long on the rupee to target Indian growth August 3, 2010 WITH the Indian government finally adopting a standardised symbol for the rupee last month, there are ever more signs that the currency is going to become more accessible to investors. Given its persistent weakness against the dollar in recent times – out of line with other Asian currencies, as the chart on the right shows [...]
THE TIPSTER August 3, 2010 COMMODITY currencies such as the Australian dollar and the Canadian dollar have been back in vogue this week, with decent bids backed by a 10 per cent rally in the Reuters/Jefferies CRB commodity index since June. US dollar-Canadian dollar has just broken a major trendline support at Ca$1.0287 and momentum is skewed to the downside. [...]
