The mining sector as a whole is moving firmly into Buy territory for us – our favourites on pure valuation terms being Bumi, ENRC, Kazakhmys, Lonmim & Avocet Mining. Below is our interpretation of the Kazakhmys chart – we think we are withn 5-10p of a 30-40p rebound. There looks to be a 5 clear…
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Berendsen announces an H1 adjusted pre-tax profit of £51.5m from £48.4m on revenues of £488.2m from £495.9m Henry Boot states that it is trading in line with the forecasts Faro Petroleum announces that it has abandoned and plugged its Cooper Well…
The RNS just out on BOR confirming commercial quantities of gas condensate at their Darwin prospect is music to the bulls ears. We brought to our readers attention the “smoke signals” that were evident in the volume yesterday (link – http://www.spreadbetmagazine.com/blog/2012/8/22/borders-and-southern-here-we-go-again.html) and today management delivered – The initial condensate yield from the Darwin gas samples, as…
UK Corporate Announcements Kazakhmys states that it sees a positive outlook for copper, as it details H1 sales of $1.52bn from $1.82bn but does state that its performance has been affected by lower metals prices Diageo announces organic operating profits gained 9% just ahead of the forecasts and recommends an 8% increase in its dividend SIG…
Ben Bernanke, Chairman of FOMC Following a lacklustre start to the main session in the US today, equity markets closed on a strong note following the FED Minutes release. According to the FED Minutes, the open market committee is concerned with the current growth pace of the US economy, similarly with consumer spending and unemployment…
The countdown to the gas condensate results is in motion and with the look of the chart over the last 10 days somebody, including Ignis, thinks that there are commercial anounts there… On 23rd April, Borders and Southern announced that despite plenty of hype about a huge oil find from the SUN newspaper amongst others, the…
Our long GBP/AUD trade is playing out nicely and is at a fresh daily high. We exited half our position that was entered into in 2 tranches (at an average of 1.4860) at 1.5020 but are running the balance. We raise our stop today to 1.5040 – just below the 3 day exponential moving average…
While the Dow and S&P500 eased back yesterday on low volumes, the Nasdaq’s intraday high of 2,799.84 was the highest level since December 2000. It looks like the US indices are now encountering resistance following 6 weeks of consecutive gains and some weakness near term looks to be on the cards, particularly as traders return from…
Here’s the 10 day chart for XEL. Where volume goes, price invariably does… We have a clear breakout on the chart from the long down trend in place since February and the technicals indicate a move to 120p. Our fellow blogger Contrarian Investor UK has opined on possible reasons in his blogs this week. Ours…
