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Home Markets Markets RBS is a Sell say the charts
RBS is a Sell say the charts PDF Print E-mail
Written by Will Peters   
Wednesday, 30 June 2010 09:30
RBS is a sell according to the MACD indicators, meanwhile Bank of England fear a second recession looms.


RBS (LON:RBS) is a sell say Delta Index who have witnessed a MACD crossover on their daily charts.

"Signal: Sell @ 42, Stop 48, Initial target 30," reads a technical note from the spread betting firm.

RBS is higher by 0.53% at 41.99 on the FTSE 100 by 10 AM.

Second recession


A member of the Bank of England's rate-setting Monetary Policy Committee says he fears Britain could be pushed back into recession by the government's austerity moves and slow recovery in key export markets.

Adam Posen said in a speech Wednesday at an economic conference that he sees the British economy poised between a weak recovery and a drop back into recession.

He says that if the country is fortunate, its current monetary policy and sustained growth outside Europe will keep Britain out of recession.

If that proves to be the case, Posen says Britain will continue to have above-target inflation. He adds that once a recovery is secure he would support a rise in the base rate from the present all-time low of half a percent.

Global markets dour


World markets were mixed Wednesday, with major indexes in Asia closing lower but markets elsewhere on the upswing despite concerns the global economic recovery has lost steam.

Oil prices hovered near $76 a barrel in Asia as plunging stock markets undermined the confidence of crude traders. The dollar was up against the yen, while the euro strengthened.

European shares were up in early trading. The FTSE 100 index of leading British shares was up 0.4 percent to 4,933.57.

Germany's DAX was higher by 0.5 percent to 5,981.69 and France's CAC-40 was up by 0.4 percent to 3,447.24. Wall Street appeared ready for a reversal, with Dow futures up 53 points to 9,850 and S&P futures ahead by 5.5 points, or 0.5 percent, to 1,040.40.

Meanwhile, major indexes in Asia — including Japan, South Korea and Hong Kong — all closed lower.

Indexes in Thailand, Bombay and Jakarta rose slightly.

The second straight day of losses in Asia came after Wall Street slid overnight on news that US consumer confidence dived in June, a worrisome sign for an economy driven by the spending of ordinary Americans.
Last Updated ( Wednesday, 30 June 2010 09:32 )