Happy New Year readers! An optimistic start to trading in 2013 with a 90 point gain right off the bat this morning in the FTSE 100 driven by relief that U.S. politicians finally got their act together and reached a last minute deal to avert the fiscal cliff. After the Senate had backed the deal…
02 Jan 2013 Cantor Opening Call The FTSE closed on New Year’s Eve at 5894 and early calls today have an open seen around 5970 UK Corporate Announcements No UK Companies detailed results today UK Market News Royal Dutch Shell states that it is working with US coastguards to attempt top…
The US, Japan, Britain, as well as the Swiss, Scandies, and a string of states around the world, are actively driving down their currencies or imposing caps. They are tearing up the script, embracing the new creed of nominal GDP targeting (NGDP), a licence for yet more radical action. The side-effects of this currency warfare…
Options in the US are pricing in a resolution of the fiscal cliff before the day is out as the VIX gets crushed. We didn’t see a nose over 6000 on the FTSE before the end of 2012 but, if the US politicians put their house in order, then it seems all but a cert…
The bulk of the fiscal cliff issues will be pushed into 2013. This sets up a showdown in March when the debt limit can no longer be extended. Americans will be exhausted by this process. The poll ratings for the Senate, House and Obama will fall to record lows. The commentary from every segment of…
Iron ore prices have climbed 60% in the last 4 months but someone forgot to tell “Mr Market” in relation to ENRC – one of the companies most exposed to the iron ore price. Analysts additionally predict that China, the biggest buyer of the commodity, will import a record amount in 2013 as its newly accelerating…
2012 was meant to be the year the UK finally escaped from the “re-pression” (a hybrid a of a depression and recession) that was caused by the Financial Collapse of 2008-09. However, it was not to be. Despite the Jubilee and the Olympics, the damage wrought by both a long in the tooth Labour Government…
Spreadbet Magazine readers will no doubt be happy to learn that even after over 10 years of marriage, four children under the age of six and, living with the grumpiest man in the world who very often works from 7am until 3am, that Mrs Mir very kindly allowed Santa Claus to deliver an iPhone 5…
Yesterday we sold 30% of our Nokia position at $4 to book an ungeared profit of 60% from our purchase at $2.50. We also sold 30% of our Nikkei position at 10,400 after the phenomenal run of recent weeks. The market looks short term overbought and consolidation and a modest retracement is likely. Freeing up…
