Xstrata confirmed yesterday that it would participate in full in the circa £500m rights issue in Lonmin. Absent a renewed takeover overture, then it was pretty obvious that they wouldn’t allow themselves to be diluted at the bottom. This is good news for Lonmin shareholders as its (a) highly unlikely there will be any stock…
For more interesting research & professional Technical Analysis from Cantor Index click here to register for free. 16 Nov 2012 UK Corporate Announcements Serco states that its outlook is unchanged from that given with its results in August and that its sees the full year 2012 in line Rotork details Q3 revenues gained 9.9% from last year…
The U.S. Federal Reserve revealed on Wednesday the minutes from its last open market committee meeting, held on October 23-24. Investors were largely disappointed as they have been too demanding of additional monetary action to offset fiscal policy inaction. Even though the Federal Reserve continues to adopt “dovish” language, it seems that is not enough…
According to data released by the Eurostat this morning, the Eurozone has just entered its second recession since 2009 as data revealed that third quarter GDP dropped 0.1%. The Eurozone had managed to avoide recession due to the growth experienced by its core members – France and Germany, but this time not even these two…
China announced yesterday that it will buy a record amount of iron ore this quarter, easing concerns about the engine of global growth. The Chinese government, which has just had a once-a-decade leadership transition, approved plans to build 1,254 miles of roads, nine sewage-treatment plants, five ports and a warehouse projects, and two waterway improvements. This…
Time is running short for Mick Davis, CEO of Xstrata if he is to make a renewed move on Lonmin before the vote on the rights issue on the 19 Nov. We have covered Lonmin extensively both on the blog and here on page 22 of our special Mining October edition of our magazine. Link…
We recommended that a long position be taken in the dollar yen pair in the latest edition of our magazine (see here, page 79 – http://issuu.com/spreadbetmagazine/docs/spreadbet-magazine-v10_generic). Overnight thee dollar rose to a fresh 6 1/2-month high against the yen after the Japanese opposition leader, whose party leads public opinion polls ahead of a parliamentary election…
For more interesting research & professional Technical Analysis from Cantor Index click here to register for free. Euro Monthly The euro monthly chart above shows how the currency has had a relatively strong performance over the past 10 years despite the wider concerns on Greece, Portugal and Spain. Retracement levels can often prove useful in FX trading…
For more interesting research & professional Technical Analysis from Cantor Index click here to register for free. UK Corporate Announcements 3i Group details an group NAV of £2.73/share from £2.79 in March and states that investment activity remains subdued National Grid states that it is pleased with its progress as it details an h1 pre-tax profit of…
The economic slump being experienced by the poor Greeks continued to intensify and deepen in the third quarter, with output shrinking 7.2 percent on an annual basis as the debt-racked country heads into its sixth year of depression. The country’s economy has now shrunk a shocking 23% in 5 long years. The contraction was deeper…
