Archive for March, 2011

Sterling began last week in reasonably robust form, rising by a cent from Monday’s starting point. It dipped on Wednesday and fell by the best part of two cents on Thursday before consolidating into the weekend. When London opened this week the pound was looking at a net loss on the week of just...
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With the onset of earnings season in the US early next month share prices have pushed higher today boosted by bid talk and optimism about the global economic outlook. Miners have provided most of the boost in London with Vedanta Resources leading the gainers in this sector after a positive update from Morgan Stanley. This...
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Equity markets have had a slightly weaker and somewhat mixed tone today with the oil sector and the banking sector leading the decliners. Oil giant BP is lower on concerns about shareholder disquiet about its proposed tie-up with Rosneft as well as a broker downgrade to “sell” from broker Collins Stewart. Banks are slipping back...
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In a relatively quiet start to the week the banking sector has been the main gainer today on the back of some positive broker comment across the sector with Barclays and HSBC up on the day. Cairn Energy is also higher after an upgrade from UBS; however continued unease about geo-political risks is currently...
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Traders continued to buy into equities on Tuesday, helping European indices trade higher for a fourth session in a row. The FTSE 100 has now recovered some 3.5% over the last four sessions, whilst the German DAX has rallied 4.5% within the same period. Both Indices remain some 5% off their 2011 highs and...
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The FTSE 100 lost as much as 1% at one point in the afternoon’s session as jittery traders sold equities after the EU’s Energy Commissioner said that the Japanese nuclear plant at Fukushima was ‘out of control’ and that ‘catastrophic events could occur within the coming hours’. There was however a high degree of...
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UK markets have hit their lowest levels this year as the after effects of the Japanese earthquake are added to the mix of fears about rising global inflation and Middle Eastern tensions. This has fuelled further risk aversion with insurance companies taking a beating today across Europe after being well bought earlier in...
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Equity markets have had other factors affecting them today away from the usual Libya news flow, but remain under pressure today on the back of weaker Chinese trade data and a Spanish sovereign debt downgrade by Moody’s, one notch with a negative outlook. China posted an unexpected trade deficit of $7.3bn in February compared with...
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European equity markets have been somewhat subdued and broadly weaker today with London trading in negative territory for the most of the day with the German DAX joining it in the afternoon session, on the back of mixed news flow out of the Middle East and Libya. The oil and gas sector has been...
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The Middle East rumour mill has been in full swing again today with equity investors speculating on possible OPEC production rises, and stories about Gaddafi looking for an exit route, as Libya threatens to dissolve into civil war. Crude oil prices have slipped back after the Kuwaiti oil minister said that OPEC was considering...
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