With yet another European Union summit next week devoted to saving the euro (again), it is reported this weekend that the Swedish Finance Minister Anders Borg said Greece may quit the common currency within the next six months. “It’s most probable that they will leave,” Borg said on Saturday on a conference call from Tokyo, where…
News breaks after the markets have closed on Friday (always a bad sign) that the Project Rainbow deal – being the RBS sale to Santander of 20% of its branches, has collapsed. The main reasons given are that the IT infrastructure was not going to be transferred in time for February 2013 and that the…
By the end of this week I grew a little tired of waiting for the FTSE to deliver a big splash to the upside. Indeed, the best it could do was bounce off a May uptrend line running through 5760 yesterday. That is not to say that there may not be strong progress next week…
We note with interest (and derision) the price target put out by SocGen in recent days on Lonmin of 145p. Yup, that’s right, 145p. Either the guy knows something we don’t, he is looking for a controversial headline or he has missed a number in front or, as one commentator opined, he’s “smoking something”. Given…
Rockhopper has made further progress today on its proposed farm out deal with Premier Oil for its North Falkland Island acreage – as yet the only commercial oil found in this region. It announced that it has received formal agreement from the Falkland Islands Government and also both relevant licensees to the farm-out agreement with…
We called a Trading Buy position on ENRC on 1 Oct @ 316p and introduced a flat stop at 316p a few days later to ensure we couldn’t lose on the trade. Here is the link explaining our Bull stance on the stock (page 25) – http://issuu.com/spreadbetmagazine/docs/spreadbet-magazine-v9_generic. With iron ore prices continuing to recover in recent…
Bumi shares have largely hit our target of 300p just now and accordingly we close our position in full at 295p for a useful (ungeared) average 70% return in 2 days. Take a look at our record on the About Us page – this year we have achieved over a 95% (that’s right 95%!) success…
For more interesting research & professional Technical Analysis from Cantor Index click here to register for free. UK Corporate Announcements Travis Perkins reports Q3 total sales fell 2.4% in Q3 and said sales had held up well despite the poor weather and the Olympics Flybe announces that it has performed in line with the revised management forecasts Hargreaves Lansdown states…
UPDATE – TRADING BUY PARTIAL PROFIT TAKE. GIVEN THE LARGE RETURNS OVER THE LAST 2 DAYS, AND IN KEEPING WITH OUR PRUDENT CAPITAL MANAGEMENT APPROACH, WE REDUCE OUR POSITION IN BUMI BY 50% TODAY AT A PRICE OF 278P. EFFECTIVELY LOWERING OUR COST PRICE ON THE BALANCE TO 90P. I hope readers made good money…
