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Strategies & Market Trends : Technical analysis for shorts & longs

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Jan 12 4:00 PM EST

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To: Johnny Canuck who wrote (47729)	4/17/2012 12:37:14 PM
From: Johnny Canuck	Read Replies (2) of 69695

02:34AM Burberry 2nd-half revenue rose 25% ( BURBY BRBY ) by Robert Daniel TEL AVIV (MarketWatch) -- Burberry Group PLC, ( BURBY) ( UK:BRBY) the London fashion apparel house, reported that for the second half ended March 31, revenue rose 25% and underlying revenue rose 18%. Revenue totaled £1.03 billion compared with £877 million in the year-earlier half. Analysts polled by Dow Jones Newswires forecast sales of £1.04 billion in the second half. Retail sales, which accounted for 72% of second-half revenue, grew 25%, or 23% on an underlying basis. And the company said that for the first half ending Sept. 30, it expects underlying wholesale revenue to rise in the mid-single-digits percent. 07:45PM China allows banks to short-sell U.S. dollars by Michael Kitchen LOS ANGELES (MarketWatch) -- Chinese banks are now allowed to hold short positions in the U.S. dollar, the nation's foreign-exchange regulator said Monday. The move would help banks manage forex risk and would "promote renminbi [Chinese yuan] exchange rate based on the balance of payments," the State Administration of Foreign Exchange said in a statement on its website. The move, which went into effect Monday, coincided with a widening of the daily allowed trading range for the yuan. A Reuters report cited analysts as saying the decision to allow dollar shorts shows China is more confident that its currency is near a balanced level.

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