The pro austerity, centre right, New Democracy party narrowly gained a majority following yesterday’s Greek election sending Asian markets higher overnight. The party was showing a 29.7% share of the vote versus 26.9% for the left wing, anti-austerity Syriza party. So a relief rally is on the cards. FTSE 100 futures are up 40 points…
The FTSE 100 closed on Friday at 5,479, up 0.8% on the week. The Dow Jones Industrial Average gained 1.7% on the week to close at 12,767, after a 115 point gain on Friday. The S&P 500 Index moved up 1.3% on the week to 1,343 and the Nasdaq Composite rose 0.5% to 2,873. Gold…
With the Dow Industrials closing down 143 points at 12,411, expectations last night were for another weak start on European markets as they closed before the major sell of on Wall Street. However, FTSE futures are holding up, barely changed from yesterday’s close and Wall Street futures are up around 30 points. The debate continues…
The US market fell off its highs, Asian stocks are down overnight and European futures are down because of Ben Bernanke’s comments to Congress yesterday which gave little indications of significant Federal Reserve intervention in the short term. The volatility is likely to continue today and next week as the European problem remains unresolved and…
North Sea oil producer, Ithaca Energy, saw its shares hit £1.10 yesterday. The shares have fallen from over £1.75 in the last week or so on news that it had ended takeover talks with several interested parties due to the offers being insufficiently high! This morning the company has today announced that the North Sea…
All eyes are on the emergency G7 finance minister conference call tonight with Germany pressuring Spain to take emergency aid to help solve its ongoing banking crisis. The pressure now seems to be on Eurozone members to agree to give up more fiscal sovereignty as part of a closer European fiscal union. With the US…
After a series of disappointments during 2011, results from Hewlett Packard and Dell over the last 2 days show the pressure being felt by the traditional PC manufacturers as consumers increasingly purchase Apple and Samsung products. Dell shares dropped 17% yesterday to $12.50 after poor results and a weak outlook for the remainder of 2012…
