Archive for January, 2011

In the good news/bad news trade-off sterling was theoretically the loser last week. The good news was Tuesday’s manufacturing sector purchasing managers’ index (PMI). It went up from 57.3 to 58.3, its highest level since 1994. The list of bad news was longer. PMIs for the construction and services sectors both fell, services to...
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UK markets are higher again today with banks again leading the gainers as risk appetite returns after yesterday’s declines on the back of European sovereign debt concerns. Japan’s declaration that it would be following China in buying Euro zone bonds has boosted the banking sector and provided a welcome fillip to banking stocks. Barclays...
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European Indices started the week with losses and investors on the back foot as continued selling in commodity share sectors such as energy and mining firms forced the FTSE 100 and other European Indices lower. Alcoa kicks off the start of the US fourth quarter earnings season tonight and so investors are holding fire for...
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A six-franc range took the GBP steadily lower versus the CHF during the festive fortnight and then went into reverse on Monday. Sterling was a net loser but only to the tune of four cents by the time London opened this morning. An expensive festive season cost the pound a net three yen. It...
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European equity markets initially picked up where the US left off yesterday on hopes that the global economic recovery will continue to gain pace after the better than expected ADP employment and ISM data. The day trading markets saw the FTSE100 posted a new 30 month high at 6,090.50 before slipping back as commodity...
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A two and a half cent range took sterling steadily lower versus the euro over the holiday fortnight. On a couple of days between Christmas and New Year it suffered a one-cent drop for no obvious reason. The day trading markets saw it set off this week with more of a spring to its...
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