Photo creditation – Michael Angelo The much criticised flotation of Manchester United goes ahead in New York later today valuing the football club at £1.5 billion, nearly twice the £800 million that the Glazer family paid for it in 2005. The Glazers also own the Tampa Bay Buccaneers American football team. The flotation price has…
At the current index level of 5851 (time of writing) the FTSE 100 is now over 3% up in the last month and 13% higher than a year ago. The Dow Jones Industrials at 13,175 is close to its 52 week high of 13,339, and 7.8% higher than its 2011 closing value of 12,218. The…
AIM listed tiddler and cancer treatment developer Sareum Holdings caught my eye yesterday with a 153% increase or 0.95p to 1.58p. After rising sharply on strong volume to over 2p, it was forced to issue an RNS during the afternoon that “Sareum, the specialist cancer drug discovery business, has noted the recent significant rise in…
The curse of “algo” or algorithmic trading – the buying and selling of shares driven by computer programs has come back to haunt the markets yet again with the $440 million loss suffered by US trading house, Knight Capital. On May 6th 2010, the U.S. Dow Jones Industrials suffered what is now termed ignominiuosly a…
Following the muted response to the Rockhopper farm-in deal with Premier oil announced just a few weeks ago in July, fellow Falklands Islands oil explorer, Falkland Oil and Gas (FOGL) was chirpy this morning on news of its own additional farm out agreement after the original one of a couple months ago with Edison. The…
Another solid update this morning from Xcite Energy’s North Sea Bentley field extended well test with the 9/03b-7 well producing at a stabilised rate of approximately 3,200 barrels per day with no associated basic sediments or water, better than the initial 2,900 barrel per day flow rate announced a couple of weeks ago. This is viewed…
Investors will be watching news like a hawk (but hoping that Draghi is not one!) from the European Central Bank (ECB) today following Mario Draghi’s comments last week that the ECB is prepared to “do whatever it takes” to protect the euro. Opinions are divided on just what they might do, but it seems…
Facebook shares hit a new low yesterday, dropping 6% to $21.71 in regular trading hours and finishing at $21.61 in after hours trading. The shares floated at $38 in May, so the shares are down a tub thumping 43% since investors first had a chance to buy them at the ill fated IPO. Yesterday, Swiss…
Proof that profit warning’s come in three’s with oil and gas rig and vessel constructer, Lamprell, getting hammered once again last week on cost overruns on two wind turbine installation vessels which had a contract value of over $320 million. Lamprell shares were trading over 360p in May and today have stabilised at 81p, a…
Red Emperor Resources, Range Resources and Horn Petroleum today announced a further update from the Shabeel North Well in Puntland, Somalia. With a follow up to the recent “water not oil” announcement (!) which sent the shares plummeting, the well reached a depth of 2,200 meters with the logging indicating “that the most prospective looking…
