Going away in May is a short-sighted strategy May 31, 2010 YOU would think that old wives’ tales and the like have little place in the markets of the 21st century. But recent research by Standard & Poor’s Indices has shown there is more than a grain of truth in the old City trading floor adage of “sell in May and go away, stay away till [...]
UNRESOLVED ISSUES CAUSE HEADACHES May 31, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT MOST investors will be relieved to see the back of May and hope that June will usher in greater market stability and lower volatility. The last month has been a shocker, with only the relief rally at the end of last week ensuring that major indices avoided a fall [...]
Switzerland is appealing, but avoid the banks May 31, 2010 SWITZERLAND’S economy is the one light in an otherwise gloomy Europe. It was one of the more stable economies during the downturn, growth in unemployment is slowing, and last week the Organisation for Economic Co-operation and Development (OECD) increased its growth forecast for the country to 1.8 per cent for this year. The OECD argues [...]
CFD ANALYST PICKS May 31, 2010 TECHNICAL STRATEGIST JOEL KRUGER My pick: Long FTSE 100 at 5,000 Expertise: Technical analysis Average time frame of trades: 5-10 days We had to wait the entire week, but our counter-trend long recommendation on the FTSE was finally triggered on Friday, with the market dropping to our entry level of 5,000. However, it then bounced [...]
FTSE closes higher, fuelled by energy stocks and BP Gulf oil spill response May 27, 2010 BRITAIN’S top shares rose 3.1 per cent yesterday to hit a one-week high, with oil stocks the standout gainers led by BP as it was making progress in plugging a well which has been leaking in the Gulf of Mexico for five weeks. The FTSE 100 index closed up 157.09 points at 5,195.17, its highest [...]
Wall Street flies on China’s Eurozone review refusal May 27, 2010 US stocks rallied yesterday as investor worry was eased after China refuted a report that it was reviewing its Eurozone bond holdings due to the region’s debt crisis. Yesterday’s gains marked the largest advance for the S&P 500 on a percentage basis since 10 May, although volume was below average. China’s denial was enough of [...]
Sort out all your currency needs before you jet off May 27, 2010 EXCITEMENT about the World Cup is starting to reach fever pitch and many football fans are heading to South Africa either with tickets in hand or simply to soak up the atmosphere. England fans are expected to spend around £135m during the World Cup, according to a recent study by accountants Grant Thornton. However, restrictions [...]
PERSONAL FINANCE NEWS May 27, 2010 MORTGAGES FOR FIRST-TIME BUYERS The Yorkshire Building Society this week launched a new range of mortgages for first time buyers. The products have no up-front product fees and £500 cashback. You can also borrow up to 85 per cent of the value of the property. Borrowers will also get a free standard valuation and free [...]
Slick start-up riding recovery May 27, 2010 FROM the moment that Colin Webster and Robert Thesiger decided to set up their own financial recruitment business specialising in middle and back office functions, they knew they were in a race against the clock. After a torrid period during the recession, both men felt that the recruitment market would begin to turn in the [...]
Tax hikes and uncertainty to be bad news May 27, 2010 THE new government has wasted no time in swinging the axe on public spending. This week £6bn of cuts were announced. Business organisations are overwhelmingly in favour of the cuts, but what does this mean for entrepreneurs and start-up companies? Everything from government contracts to Regional Development Agencies (RDAs), which provide grants and funding to [...]
