Wed 22nd May 13, 07:12
FTSE 250-listed asset manager Intermediate Capital, otherwise known as ICG, has unveiled record assets under management (AuM) for 2012/13 but profits dropped sharply as the company didn't exit as many investments during the year.
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Rolls-Royce, the FTSE 100 engineering giant, has won an order from US leasing company CIT Aerospace for Trent XWB engines to power ten Airbus A350 XWB aircraft and Trent 700 engines to power 13 Airbus A330 aircraft. 39 minutes ago
The Bank of Japan has held off on new monetary easing, according to the Financial Times, "judging that the huge stimulus unveiled in April will be enough to spur price gains in the world's third-largest economy". The central bank said that Japan has "started picked up". 48 minutes ago
The dollar rose against major rivals on Wednesday as markets look ahead to the Federal Reserve Chairman Ben Bernanke's view on US economic progress and implications for the central bank's quantitative easing programme. 1 hour ago
Crude oil futures snapped a four-day winning streak on Tuesday and pulled off a seven-week high as investors took a breather ahead of Federal Reserve Chairman Ben Bernanke's testimony and upcoming inventory data. 1 hour ago
- Motion to separate President and CEO roles at JP Morgan defeated 7 hours ago
Motion to separate President and CEO roles at JP Morgan defeated; Bullard (Fed): to do nothing risks deflation; Bullard (Fed): central bank should adjust purchases as data comes in; Dudley (Fed): At some point QE will have to decrease; Dudley (Fed): Not sure of direction for next move 13 hours ago
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The markets seem to be extending their highs in recent days with no concern about the continuing threat of war in the Middle East.
This morning, news that Israeli and Syrian forces have exchanged fire across the ceasefire line in the occupied Golan Heights was largely ignored by the financial markets.
This morning silver fell to levels not seen since September 2010 as commodity prices slumped overnight in Asia and this extended in early London trading. Although here is plenty of physical buying from China, India and the Middle East – there is heavy computer ETF selling.
A strong dollar and outperforming equity markets have shifted investor’s attention to more risky assets with silver suffering.
Despite general US data thus far this week coming in a little softer, the dollar retains a bid tone, as US risk markets keep on posting new highs despite much speculation on whether USD may have rallied a little too far, too quickly.
Today we await CPI numbers and US data including housing, jobless claims and the Philly Fed.)
The depreciation of the Japanese yen has been an ongoing process for many months now, and recent developments have contributed to its continued decline. However, upcoming data might change the direction upwards.
Japan’s currency is once more weakening compared to the US dollar.
Despite the fact that it’s only mid- May, the FTSE100 looks set to record a new high for the 12th consecutive month.
Compared to the likes of the Dow, the Dax and the S&P500, the FTSE being quite heavily weighted with the financial and mining sector has dragged itsheels in re-acquiring a record high level. Perhaps it’s the mining sector that is serving as a drag which since February has seen a total decline of almost 25%.