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Saxo Bank Reveals Leaders And Laggards Of The Q3 Earnings Season

Saxo Bank has released a new video examining the leaders and laggards of the Q3 earnings season.

With more than 20 percent of the benchmark S&P 500 companies having reported their results, the new video with Peter Garnry, Equity Strategist at Saxo Bank, not only looks at the leaders and laggards of the season but also what common threads, if any, there are across sectors.

The new equity video particularly focuses on the far reaching consequences of the Eurozone crisis on banking and financial entities plus the apparent invincibility (at least for now) of companies in the energy and technology sectors to the slowing economic growth of several key economies around the globe.

Peter Garny said: “We have said several times that we’re in favour of technology and energy stocks and this earnings season so far has proven that those two sectors are the fastest growing in terms of sales and profits.

“Going forward, we’re still positive on energy and technology stocks and relying on those two sectors due to their flexibility in terms of their operating model; they generate a lot of free cash flow and they have a very flexible balance sheet because they have a very low debt-to-equity ratio and the prices are very favourable.”

In the video he also looks at the biggest earnings surprise so far from Caterpillar, which is benefitting largely from a mining boom driven primarily by China’s demand for industrial metals and other mined materials used in manufacturing.

Peter likens the overall lack of expression and visibility concerning 2012 earnings outlooks as akin to radio silence with very few companies daring to speak up, and some actually even avoiding guidance on the fourth quarter despite relatively reliable revenues.

“Most of the companies are unable to give investors any guidance on where they see even the fourth quarter going. A lot of the companies are reporting very close to zero visibility on how their sales are coming in and we saw that Pepsi Co. couldn’t even say anything about 2012; they deferred and said they would give guidance on 2012 in mid-December. That’s a consumer stable company – they have pretty stable sales so that says a lot about the environment we live in now.”

Peter concluded by saying the industrial sector will be one to watch over the next quarter, as well as re-affirming the strength of the energy and technology sectors.

Via EPR Network
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TradingFloor.com Releases Video on the German Economy

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released the video ‘Why the German economy continues to outperform in Eurozone’.

Despite a minor correction in industrial orders in December, the German economy continues to stand out from the rest of the Eurozone members in terms of growth. In the video Mads Koefoed, macro strategist at Saxo Bank’s Tradingfloor.com, discusses the performance of Europe’s largest economy versus the 16 other Eurozone members.

Mads Koefoed discusses two main reasons why he believes the Germany economy is continuing to outperform other countries in the Eurozone. Germany is turning part of its foreign exports away from other countries in the Eurozone and towards Asia. While Germany still continues to do a lot of trade within the Eurozone, by turning to Asia, where more solid growth is taking place, it is doing better than other Eurozone countries that have not moved some of their trade overseas.

Southern countries such as Spain, Portugal and Italy have also seen higher cuts on public spending than have happened in Germany, meaning Germany should recover much stronger.

Mads is optimistic that the economic growth of Germany will continue throughout 2011 and hopefully into 2012, because while Germany is cutting costs, it is not doing it as harshly as other countries.

Northern areas of the Eurozone such as the Netherlands and France are expected to catch up with Germany first, though it looks doubtful whether the southern countries will make real advance any time soon. Mads mentions that other countries outside of the Eurozone, such as the UK, should catch up fairly quickly as well. While the UK may see a weak first half due to the rise in VAT and the public spending cuts, the second half of 2011 should see a strong rebound.

The Eurozone economy video is available to view on the Saxo Bank TradingFloor website.

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Saxo Bank Announces Half Year Results

Saxo Bank has announced its half year results, with the trading specialist reporting pre-tax profits of DKK 729 million and a net profit of DKK 551 million. The results for the first half of 2010 also revealed the company’s operating income reached DKK 1,992 million and an EBITDA of DKK 881 million. The solvency ratio for Saxo Bank Group was 19.2% (18.9%).

The results achieved in the first six months of 2010 are rooted in increased market activity as well as decisions and actions taken since shortly before the onset of the financial crisis in the autumn of 2008. Since then The Bank has:
– increased efficiency through IT investments, work process rationalisation, outsourcing and business focus;
– reduced its headcount by approximately 40% from the peak level in September 2008
– completed 10 acquisitions, all of which have lived up to expectations
– launched significant new products within FX, Equities and Commodities
– expanded the business to include asset management
– increased its geographical footprint with new offices in nine countries
– increased its deposits and funds under management significantly
– established IT development centres in India and Ukraine in addition to its Danish IT centre.

During the first six months of 2010, Saxo Bank saw positive developments in key drivers such as the number of clients, number of trades and trading volumes.

The Bank’s clients’ collateral deposits increased by approximately DKK 11 billion to DKK 26.6 billion including clients’ collateral deposits from the Nordic activities of E*Trade, which Saxo Bank acquired in April 2010. Saxo Asset Management, Saxo Bank’s legally segregated asset management division increased its assets under management from DKK 21 billion to 28.8 billion including DKK 4.2 billion from Saxo Bank A/S during the first six months of 2010.

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Saxo Bank Re-Launches ForexTrading.com

Saxo Bank, the specialist in online trading and investment, has re-launched its website www.ForexTrading.com to provide a simple entry point to anyone looking to become a forex trader and to be a useful resource for foreign exchange traders, or others, interested in the trading of currencies.

The redesigned ForexTrading.com website will focus on providing visitors with all the information necessary for traders like topical forex market information, news and analysis from Saxo Bank and third parties, and on forex education using Saxo Bank’s TradeMentor program and comprehensive financial glossary. The ever-popular free forex charting widget will also remain on the website too.

“ForexTrading.com is already a successful domain, attracting large numbers of new and returning visitors. The new version of ForexTrading.com augments the popular forex trading information and analysis of the old site with much more content from Saxo Bank and third parties,” said Hugh Taggart, head of research & analysis tools at Saxo Bank.”

“Visitors to ForexTrading.com are often there just to learn how to trade forex or to see the latest forex quotes, news and analysis. This version of the website answers those needs concisely and provides a link to opening a trial or live account with Saxo Bank,” he added.

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Saxo Bank Celebrates Success Of Its Sponsorship During Tour De France

With Andy Schleck as team leader, the Saxo Bank team won four stages, the youth competition and finished in second place overall. Saxo Bank remained front and centre as the cycling drama unfolded, from Fabian Cancellara’s time trial win in the Rotterdam prologue and Andy Schleck’s seventeenth stage victory in the Pyrenees Mountains to the finale on Avenue des Champs-Élysées.

Bringing Saxo Bank fans together to support the team during this year’s Tour de France was an important goal for Saxo Bank in its third season as sponsor of the team. The online bank organised on-site events that let fans and clients experience the race closer than ever before. In Rotterdam, Bruxelles, Avoriaz and Paris, hundreds of guests were given a chance to watch the race as VIPs, meet the riders for autographs and photos and see the mechanics working on the bikes.

Saxo Bank also provided exclusive online coverage on its website, Saxobanktakingthelead.com, including incredible behind-the-scenes looks at Team Saxo Bank’s tactics, training and, of course, the bikes. In addition to the website, Saxo Bank knit the community of cycling enthusiasts and Saxo Bank fans together with real-time race updates and the latest Tour de France developments directly on their computer or mobile phones via Twitter and other social media activities.

Saxo Bank’s Tour de France facts and figures:

– Searches for the Saxo Bank brand on Google doubled over the course of the Tour. – The saxobanktakingthelead.com website had an increase of 459.79% growth in absolute Unique Visitors during the Tour.
– The Saxobank Twitter feed received a record 4,678 followers.

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Saxo Bank Offers New Guide To Global Economic Indicators

Saxo Bank’s strategy team has gathered together the most important of its macroeconomic forecasts into a new monthly publication that can be downloaded for free from the Trading Floor website.

Saxo Bank Offers New Guide To Global Economic Indicators

The new Macro Forecast publication is based on the results of Saxo Bank’s comprehensive macroeconomic models and is released on the first working day of every month. The publication will give the most important economic indicators for the US, Eurozone and Japan.

“The US gets the most attention in line with its position as the most important world economy with more than 20 quarterly and monthly indicators. The most important indicators from Europe and Japan will be covered initially, with more depth added with time as the publication grows,” said David Karsbøl, Chief Economist at Saxo Bank.

The Macro Forecast has been designed to be easy to read and navigate. Each country has a table giving the consensus forecast, Saxo Bank’s forecast, the previous level, percentage change and release date.

“The Macro Forecast isn’t meant to provide trading triggers,” added Saxo Bank Market Strategist Mads Koefoed, who has been responsible for developing the model. “The publication is more a signpost to the general economy and makes the strategy teams views on the development of the economy easier to follow on a regular basis.”

Tradingfloor.com has been running since May 2009 and features expert commentary starting every morning with The Daily Trading Stance that Saxo Bank’s strategists distribute to clients giving a rundown of the main themes of the day in Forex trading, equities, FX options and CFD trading.

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Positive Economy Growth For Late 2009 Predicted by Trading Floor Expert

Trading Floor columnist and Saxo Bank chief economist David Karsbol says the American economy will return to positive GDP growth in the second half of 2009; however, the reliance of the recovery on government spending and inventory re-stocking may mean the growth is not sustainable.

Karsbol says consumer deleveraging will continue and demand will remain subdued. US unemployment will continue to rise over the coming months, further hindering debt repayments and consumption.

Saxo Bank’s fourth quarterly financial outlook for 2009 is available for download on the Trading Floor site, which has been running since May 2009. Trading Floor gives daily and quarterly outlook and trading analysis of Forex, Equities, FX options, CFD trading, and commodities.

The Saxo Bank quarterly report is put together by the bank’s strategy team of chief economist David Karsbol, chief equity strategist Christian Blaabjerg, consulting FX strategist John Hardy and market strategist Mads Koefoed.

The quarterly outlook predicts that monetary stimuli and government deficits are likely to continue, leading to a ‘Japanisation’ of financial markets – higher price-to-earnings ratios and lower yields on both corporate bonds and treasuries.

Karsbol added: “Because Western economies are more flexible and able to embrace the necessary changes, we do not think that things will get as bad as was the case in Japan.

“However, it is increasingly evident that the current scenario in the West bears a close resemblance to post-1990 Japan, and it looks progressively like we have entered a new regime in which everyone assumes that large companies will be bailed out. This means that default risk is ‘priced out’, and we see higher price-to-earnings ratios and lower yields on fixed income.”

With maximum stimulus in the rear view mirror and austerity and exit strategies increasingly on the menu, Forex trading as a whole may begin to shift away from the rosier recovery projection that is already priced in. This could likely mean the exhaustion of many of the trends that are currently in place in FX, where so many trades are aligned along the ubiquitous risk appetite axis.

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Trading Floor To Open Up Trading Information For Forex And Equities

Saxo Bank, the online trading and investment specialist, is addressing the problem of market information overload with its TradeMaker module to complement its trading platforms, as well as a new Trading floor website.

Trading Floor

The information barriers of the past that limited trading to professional traders with a Bloomberg or a Reuter’s screen have long gone. The quantity of trading information and Forex news available to all types of traders on a home or business PC has increased to such an extent that now it is possible to trade not only stocks, but also Forex and more exotic instruments such as Futures and CFDs.

But while speed is vital when making trading decisions, speed without solid strategic insight won’t bring any advantages. The main problem is that as the cost of information has fallen, the volume has increased accordingly. Trying to find a way through this jungle of FX crosses, quotes and trades is sometimes a challenge even for the most experienced trader.

TradeMaker is a real-time trading idea generator that is part of Saxo Bank’s award winning trading platforms. It provides ten daily intra-day trading ideas on major currency crosses and CFDs including intuitive charts and interface, as well as one click pre-populated trade tickets or the ability to tailor the idea to personal trading strategies.

“Using the information and services provided by TradeMaker, we hope to be encouraging those traders that are looking to enter the market but need more direction,” said Patrick Mortensen, Global Head of Partner Marketing at Saxo Bank.

“We have already received feedback that tells us users actually feel more secure in their trading decisions, as TradeMaker enables them to better identify and manage the risks involved in the market,” said Patrick Mortensen.

The advent of the electronic trading platform has brought an end to the ‘open outcry’ of busy, noisy trading floors. As traders have retreated behind desks and screens, the shouting, signaling and pulling faces have disappeared. And with it has gone some of the human interaction that helped inform the markets.

Trading Floor is an attempt by Saxo Bank to bring some of that noise back by getting the markets rubbing shoulders, dealing – and shouting. Trading Floor provides up to date, forex news and market place analysis.

The aim of the new Tradingfloor site is to bring market participants together through the web site. Saxo Bank provides the web site and the expertise of its strategists and analysts and those of its partners.

The Daily Trading Stance is the mainstay of Tradingfloor’s daily offering. It is the position that Saxo bank’s own strategists distribute to traders with a rundown of the main themes of the day in FX, equities, futures, and FX options.

The commentary is prepared by Saxo Bank’s Chief Economist David Karsbøl and Saxo Bank’s Equity Strategist Christian Tegllund Blaabjerg, with additional advice from Forex expert John hardy, who was named as one of the most influential people in Forex in 2008. Commodities expertise is provided by Ole S Hansen and Alan Plaughmann. Tradingfloor.com also has its own YouTube Trading Floor channel which is updated daily with the day’s trading information and delivered by David or Christian.

The speed of trading has picked up tremendously in recent years with the use of automated and semi-automated systems. But the systems are only as good as the information they receive. The key to success in online trading is to find reliable sources of solid tradable information.

About Trading Floor:
Trading Floor is run by Saxo Bank – a global investment bank specialising in online trading and investment across the international financial markets. Trading Floor provides up to date forex news and market place analysis.

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