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FTSE slumps

The FTSE opened lower today at 4,427 despite reports from the Confederation of British Industry predicting a shorter and less severe recession than feared.

By 9.07am, the index was 1.9 per cent lower at 4,359 with resource stocks leading losses. By 4.04pm, it was 2.7 per cent lower at 4,322.

Banks were down with Barclays losing 4.2 per cent at 279.75p, Royal Bank of Scotland down 4.5 per cent at 38.10p and HSBC down 3.4 per cent at 528.25p.

Lloyds held up gaining 1.5 per cent to 66.20p amid reports that Commonwealth Bank of Australia is considering a bid for its fund management arm Insight Investment Management’s third-party funds business.


Gold funds lead in first quarter, says S&P

Gold and mining funds were the best performing sectors in the first quarter, returning an average 11.1%, according to S&Ps review of the period. Alison Cratchley, the director of fund research at S&P, says gold was popular as a safe haven and as a hedge against the inflation that may result from quantitative easing. Global […]

Online opportunity

It was interesting to read a news story not too long ago in which a study found that around 15 per cent of financial advisers are continuing to shun technology by running paper-only practices. More than 120 of the 800 intermediaries surveyed by 1st-The Exchange admitted to “just using paper” to store and manage client data, to which the software provider says the results may be indicative of the sector as a whole.

Property finds a footing

Outflows, liquidity and lock-ins have been the three buzzwords that have summed up the troubled property sector over the past two years.

In with the new

With much positive sentiment these days, opportunities are presenting themselves on a number of investment fronts. By no means is everyone yet convinced of the current rally and there is debate over the asset class of choice but adding to the plethora of choice for investors are a number of new funds – and not just straightforward equity funds.


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