RSS Feed1 Year Since The Market Bottomed Out
Posted by Senan
Although different global indices across the world bottomed on different days last March 2009; today, March 9th, is considered the 1 year anniversary of the worst of the stock market crash (as the S&P 500 in the U.S. hit bottom). But we've come a long way since then. The ISEQ actually hit bottom the following day, finishing March 10th 2009 on a paltry 1916 (an interesting figure in Irish politics!). As of today we've tipped back over the 3000 mark so that's a healthy bounce of 64%. The S&P across the water has fared even better, rising almost 70%. Despite the rallies, significant doubt still hangs over worldwide economic recovery. Certainly in Ireland it feels more like we're going backwards. More strikes are on the cards and who knows, maybe civil unrest ala Greece is next. Companies are still shutting their doors every day. And our dole queue is still a mile long. To those who are among the lucky few to have called the market correctly, well done, I hope you did well. To the other 99%, hang in there, I know I am. I have a tendency towards buy-and-hold value investing so I've been buying bits and pieces over the past 6 months. On balance, I've lost money so far, but I'm waiting for the slow ride to the top!...
ISEQ and Company Update, 05-Mar-2010
ISEQ Week Open: 2875.46, Week Close: 3001.24 Kingspan Solid performance in 2009 from the overall Group, despite hostile economic conditions. Insulation Boards total sales volumes were down 23%, although growing sales and penetration in Western Europe. Insulated Panel sales volumes in the UK, Ireland and Western Europe were down 33%, with particular weakness in the speculative development segment. Insulated Panel sales volumes in North America were down 23%. Architectural façade products remained strong and the former Metecno business performed robustly in the circumstances. Central & Eastern Europe panel volumes were also weaker, down 25%. A substantial reorganisation of this unit was implemented, an...
Banking, US and EU
Banking industry in the US is likely to undergo some fundamental changes to prevent future financial crises. The US government’s reform agenda for banking industry calls for stricter capital structures and contingency reserves. The reforms, unveiled by US President Barack Obama, restraints banks from taking excessive risk taking. While giving the details, the president went on to describe the development as the biggest shake-up of the US system of financial regulation since the 1930s. Going forward, the Federal Reserve will have greater authority in monitoring the major financial institutions. Effectively, the new regulations are designed to clip money creation by privately owned companies, hoping to revert the process of excessive m...
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