St. Petersburg, Another View

Forex latest Update :-

Forex: AUD/NZD: Aussie rallies above 1.2200 to 1.2245/55 area

Australian Dollar has rallied during the day so far, and the pair's bounce at 1.1935 low on Tuesday, has extended to levels above 1.2200/10 area, breaking, thus, above the downtrend line off mid September highs to test 1.2240 (Sept 30 high) at the moment of writing.

In case of breaking above 1.2240/55 (Sept 30/21 highs), next resistance levels would be at 1.2300 (Sept 14 high) and 1.2400 area, on the downside, support levels lie at 1.2155/70 , previous highs, and once below there, 1.2055/65 (Oxct 2 low/intra-day low) and 1.1990 (Oct 5 low).

According to the Varengold Bank Research Team, the pair has reached strong resistance area, and a pull back towards 1.2000 should be taken into account: "As we can see, the market has reached two strong resistance levels. The resistance levels are the horizontal line from the middle of September of around 1.22 and the bearish trend line, which has also been established during September. The pair could be overbought and may probably pull back towards the support line at around 1.20."

European markets rise on upbeat earnings season's kickoff; Euro and Pound, higher

European markets are going through considerable advances on Thursday following a positive start of U.S. earnings season and further advance on basic resources. Euro and Pound have rallied to last weeks' range tops.

Eurostoxx 50 Index advances 1.5%, while German DAX Index advances 1.3%, and the French CAC Index advances 1.51%. In the UK, the FTSE Index trades 1.0% higher in the first hours of trading.

Risk appetite has improved on the back of Alcoa's third quarter's profits. The aluminum producer swung into profits after three consecutive quarters with losses. Alcoa's shares have advanced 8.2% in Frankfurt market.

Euro and Pound testing resistance areas

EUR/USD remains struggling against 1.4770 resistance on rally from 1.4650 low on Wednesday; after having hit fresh two-week high at 1.4788.

GBP/USD rally from 1.5860 low, has extended to 1.6075, one-week high, although the Pound has eased to levels below 1.6050. At the moment the pair trades at 1.6040; 0.50% above its day-opening level.

USD/JPY recovery from 88.00 low on Wednesday was halted at 89.40, and the Dollar returned to levels right above 88.00. During European session, the pair has been moving between 88.15 and 88.40.

Saint Petersburg - now and then

During World War II, Leningrad (Saint Petersburg now) was besieged by Nazi Germany and co-belligerent Finland. The siege lasted 872 days from September 1941 to January 1944. The Siege of Leningrad was one of the longest, most destructive, and most lethal sieges of major cities in modern history. It isolated the city from most supplies except those provided through the Road of Life across Lake Ladoga, and more than a million civilians died, mainly from starvation. Many others were eventually evacuated or escaped by themselves, so the city became largely depopulated. For the heroic resistance of the city and tenacity of the survivors of the Siege, in 1945 Leningrad became the first city in the Soviet Union awarded the title Hero City. In October 1946 some former Finnish territories along the northern coast of the Gulf of Finland captured in the Winter War and Continuation War were transferred from Leningrad Oblast to Leningrad and divided into Sestroretsky District and Kurortny District, including the town of Terijoki.


















Latest Update :-

NEW YORK (The Street) -- Insurance stocks are the second-most volatile of any industry after banking shares, ensuring there's still money to be made on prudent picks.
TheStreet.com's recommended insurance-stock portfolio from five weeks ago, based on price-to-book value, has surged 50%, compared with a 4.2% gain in the S&P 500 and a 7% increase in the benchmark index's insurance subset. There are still opportunities to be had, as the economy rebounds, pushing up premiums, and as insurers restock capital, giving them a cushion. (Price-to-book value is calculated by taking a company's share price and dividing it by book value per share. Book value is the net asset value of a company, measured by total assets minus intangible assets (patents, goodwill) and liabilities.
Insurers' shares rise and fall frequently, as seen by their so-called beta value of 1.49 versus the S&P 500. Only banking stocks, such as Citigroup and Bank of America, are higher, at 1.51. Industrial companies, represented by General Electric and Boeing, have a beta of 1.08, and consumer staples, which include Wal-Mart and Coca-Cola, are at 0.53.
The star insurance performer was the Phoenix Cos., up 80% over five weeks. PMI Group rose 77%, Conseco increased 76% and Radian Group jumped 75%. Since June 24, Radian has soared almost five-fold.