Archive for December, 2010

Last Monday, Tuesday and Wednesday the pound ratcheted downwards versus the euro, shedding two and a half cents. A one-cent bounce on Thursday was entirely reversed on Friday. When London opened this week the pound was off its lows but still a cent and a half lower on the week. The most damaging statistics for...
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The pound covered a two-cent range last week versus the euro, mainly with an upward-facing flavour. It added a cent and a half over the week but it looked this morning as though it was intent on giving it back. There were no surprises from the Bank of England’s Monetary Policy Committee. It left interest...
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GBP versus the CAD A range of more a little less than three cents took sterling from low to high over a three day run last week versus the Canadian dollar. The pound stalled on Friday and fell back in the Far East this morning. It made one net cent on the week but was...
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Strong economic data from the US which showed that manufacturing and industrial activity was better than the market had expected helped the FTSE 100 and DAX to recover from earlier losses and trade into flat territory towards the close on Wednesday. Indices had been posting losses of around 0.5% for much of the day...
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The FTSE 100 posted a gain of 0.5 percent at the European close this afternoon, underpinned by market rumours that Royal Dutch Shell is eyeing a bid for fellow energy firm BP. Shares in BP gained nearly 3 percent on the news, hitting a 6 month high. Credit Suisse also helped out after raising...
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GBP versus the CAD In the end sterling lost just less than a cent last week to the Canadian dollar. It covered a range of just over four cents and managed to recover from last Thursday’s two-cent drop with outside assistance on Friday. A thin sprinkling of Canadian data was of no great help to the...
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Key Indices in the UK and Germany fell today after a stronger US dollar. This was triggered by a spike in long terms treasury yields after President Obama extended a tax cut and consequently pressurised commodity prices forcing heavyweight mining and energy stocks lower. A drop in US Crude inventories, which fell more than...
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UK equity markets were heading for highs not seen since mid November after a strong morning session was consolidated by news from President Obama regarding US tax breaks. President Obama announced that tax cuts put in place during the Bush-era will remain for another two years, renewing tax cuts for both the middle class...
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European indices recovered from earlier losses as mergers and acquisition activity took hold of the day trading markets. The news has helped to improve somewhat fragile sentiment with traders still fixated over sovereign debt concerns after Moody’s downgraded Hungary’s credit rating and the start of a meeting between important Euro zone ministers to discuss...
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The day trading indices across Europe sharply reversed small gains, with the FTSE 100 losing as much as 1% in a matter of minutes after data showed that the US labour market continues to struggle. US nonfarm payrolls grew by a minimal 39,000 last month, badly underperforming market consensus of +150,000, whilst private payrolls...
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