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Divide the text into logical parts.
Express the main idea of each part.
Sum up the text in English.
Compare the organization of TV industry in the USA and in Russia. Prepare a report.
Lesson 7
Part 2. Vocabulary Practice
Bull Markets and Bear Markets
| bear market bearish bears bull market bullish bulls gain ground make gains lose ground rally recover regain ground regain lost ground recovery |
When market prices are rising, or making gains or gaining ground, journalists, traders and investors talk about a bull market, and if they think prices will continue to rise, people are bulls or bullish.
When prices are falling, or losing ground, traders talk about a bear market, and if they think prices will continue to fall, they are bearish.
If prices rise after a period when they have been falling, they rally, recover, or regain ground or regain (lost) ground in a recovery.
Oil shares were making strong gains in fears of a Gulf War.
Jim O'Neill, international strategist with the Swiss Bank Corp,
said the mood in the markets about the pound has swung 'from
crazily bullish to crazily bearish'.
It looks like we're going to have a significantly down day. It certainly is a battle between the bulls and the bears right here, and I think we've got an indication that the bears have got the. upper hand.
Shares lostground again yesterday, with the 100 constituent FT-SE share index closing 23 points down at 2,036.2.
After an initial fall of 30р, however, the shares rallied to show a drop of only I3p to £10.
The news hit the Allied share price, although the shares recovered to end only 3р lower at 602р.
Ex.1. Match the two parts of these extracts.
| 1) The bulls were stampeding. By the end of trading, | a) with London gold $ 2.25 higher at $ 377.25 an ounce and silver 4 cents up at $ 3.85 an ounce. |
| 2) The bear market which followed the crash of October 1987 was the shortest on record. | b) David Fuller believes we may now have had the opposite: the shortest bull market on record. |
| 3) Fisons continued to lose ground, | c) records lay broken from Austria to New Zealand |
| 4) Since the property collapse, | d) imminent recovery has been sighted as many times as the Loch Ness monster, and with as much effect. |
| 5) By late afternoon yesterday, bonds were little changed, | e) although a rally on the stock market helped the Dow Jones industrial average close up 42.33 points at 2,930.2. |
| 6) Precious metals regained lost ground | f) It regained some ground in New York, where it ended at $1.9330. |
| 7) At the 9 a.m. opening in London, the pound traded at $ 1.9250, 2.15 cents up on Wednesday's close, before ending at S 1.9245. | g) finishing 32р down at 423p as brokers continued to take a bearish view of the group's prospects. |
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