Archive - January, 2013

Latest

S&P affirmed Belgium's AA rating with negative outlook Pimco boss says EU exit threatens UK “standard of living” - Daily Telegraph The Eurozones biggest economies would raise an estimated €30-40bn from their planned “Tobin Tax” - Financial Times Amazon shares climb to new highs on earnings update FTSE 100 closed above 6300 yesterday for the first time since May 2008 CB's Fall in Assets Risks Rise in the Euro- WSJ Ge…

Continue Reading →

The headlines were captured yesterday by the UK Prime Ministers David Cameron’s “Britain and Europe” speech. In well prepared dialogue, Cameron put forward a defining moment for the United Kingdom, how the country moves forward with the Eurozone. He explained that he will attempt to renegotiate powers from Brussels and will then hold an in/out referendum for the UK in Europe to appease the Tory Eurosceptics. Prior to his speech at Bloomberg HQ in London, sterling was weaken…

Continue Reading →

Bank of Japan has pledged to Fed style open-ended asset purchases, with the Yen and Nkkei easing following BOJ announcement, as traders had bought the rumour and sold the fact Fresh data from the Bundesbank show that Anglo-German trade in goods and services soared to €153bn in the first nine months of 2012 - Telegraph S&P affirmed Portugal's BB rating, while the outlook remains negative Japan’s Economic Minister Amari said that the government has no inten…

Continue Reading →

The south east of England including London has been covered with snow since Friday, though a relatively small amount (4-5 inches) it has caused travel chaos. Analysts have been quick to highlight the weather disruption as an increased chance of the UK entering a double-dip recession. There have been widespread cancellations across both airport and train networks, as the UK struggles to cope with snowfall. Today is also Martin Luther King Day in the United States, which means that the…

Continue Reading →

There have been numerous articles in the last few months over the so-called business zombies of the UK high-street. These are companies that have become reliant on low-financing rates but have had stagnated growth, thus are on the verge of collapse. HMV in a statement last night announced: The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection The music retailer has been tra…

Continue Reading →

The UK supermarket industry is saturated and companies are ruthless in attempting to increase their market shares. Loss leader promotions are common and tactics to attract customers over the all-important Christmas period are key. This week has seen the supermarkets post their trading updates, with Tesco posting better than expected numbers following last week’s results from Waitrose. Marks and Spencer suffered over the Christmas period and their release was brought forward after a lea…

Continue Reading →

Abshire-Smith is pleased to announce the release of the VertexFX 10 trading suite for its clients. Hybrid Solutions, the developers of VertexFX, have invested considerable time and resources into the launch of VertexFX 10. The trading platform has significantly enhanced features and design. VertexFX 10 provides the complete trading suite, of both web and desktop based access for retail and institutional clients. Adam Neal CEO and founder of Abshire-Smith said that: “T…

Continue Reading →

The Yen is headed for its biggest 2-day gain since November The spending cuts and tax hikes scheduled to hit the UK in 2013 are milder than most other advanced economies, according to a Goldman Sachs research note out yesterday Hedge funds that use computers to follow trends lost money for a second straight year in 2012 as political debates over the U.S. fiscal cliff and Europe’s sovereign-debt crisis roiled markets – Bloomberg The U.K. economy will have a &ldqu…

Continue Reading →

Japan's government is finalizing an emergency economic stimulus package of up to Y10 trillion ($113 billion) that includes public works spending of more than Y5 trillion, the Yomiuri Shimbun said Monday in its morning edition Executives holding the purse strings of the UK's leading companies are in more optimistic mood after steering their businesses through a double-dip recession and strengthening balance sheets, research out on Monday shows – Daily Telegraph UK Ll…

Continue Reading →

It is the first Friday of the month, which means that today there is the release of the pivotal US employment figures, Non-Farm Payrolls. The release can be one of the most volatile economic announcements of the month. Equity markets started the first trading session of the year with sizeable rallies following the fiscal cliff agreement. On Thursday the markets came off, as traders took profit from Wednesday’s move. Today’s jobs report refocuses investors to the economic fundamen…

Continue Reading →

Happy New Year from all at Abshire-Smith, may 2013 be prosperous for you. Today is the first trading session of the New Year, please check your client emails for market trading times, or contact us if you are unsure. Many traders will have been away from their desks over the holiday period, with the majority back this morning. The US house of Representatives has passed the fiscal cliff bill, which has been discussed at length over the last 6 months. The Congressional Budget Offic…

Continue Reading →