(Originally posted on June 1st 2009)
A new month and the sun is shining brightly. The markets have been boosted by the news that the Chinese manufacturing markets have grown.However I am extremely sceptical when the markets increase or decrease on news of the mining, financial and Chinese sectors. This has also boosted the commodity prices which is of no surprise. Tomorrow will tell whether the news is actually positive or not.
GM is to file for bankruptcy today and is expected to emerge from it in 60-90 days. Will it rise like the mythical Phoenix from the ashes?
The countdown to the Ashes has begun. Historically the country that is expected to win the Ashes and wins the Ashes will increase. October 2008 is a good date to start as Australia played India in India and that was followed by England playing India in India. The FTSE futures are lagging the ASK by 1.73%. However the FTSE has increased at a faster rate than the ASX since England comprehensively beat West Indies in the Wisden Trophy. The performance of the two countries in the upcoming T20 cricket world cup will start to determine whether England or Australia will win the Ashes and consequently which market will do well. The person who will make a difference in the recovery of the UK market could be Andrew Flintoff. My eyes will be on Sophia Gardens in Cardiff on July the 8th where History will be made as it will become the 100th ground to host a test match since Cricket began.