Last week world stock markets made a decent stab at recovering from the previous week’s rout. The strongest market was again the Nasdaq, with the new economy shrugging off the previous Friday’s wobble to finish near its highs. Interest rate rumours thrust the market higher, as whispers of another 50 base point cut did the rounds. Few people wanted to be short going into what is expected to be...
Last week the 20 year anniversary of the 1987 crash passed with a significantly negative close for all major stock markets. A sell off, but it was some way off being a repeat of that day 20 years ago that wiped off 12.2% of the value of British shares in one trading session. It is interesting to note that neither the 1987 or 1929 crashes led to a recession and the Dow actually finished up for the...
Last week Oil continued its ascent into record territory. Just shy of $90 per barrel the much talked about $100 per barrel isn’t too far off. Strangely the price still hasn’t topped too many headlines, perhaps because prices still sit below £1.00 per litre in the UK. If that dam bursts, UK consumers could be in for a shock says Betonmarket’s Michael Wright. The latest surge has...
Last week the Euro hit an all time high against the US dollar after speculation intensified that the FOMC (US equivalent of the bank of England) will cut rates to ease the credit crunch which has plagued the equity markets and lending institution world wide. The USD also lost against other currencies, slipping against both the pound and the yen, but the main action was with the Euro says...