August has been a bullish month for the euro which has, almost silently, headed north, hitting 1.26 against the US dollar late last week and recovering from a cold bath in 1.20’s water. Even though Mario Draghi has been accused of giving out false expectations about possible ECB intervention in debt markets, investors remain optimistic…
Editor Update (16:11PM) – Very happy holding here. Looks like a nice strong close is in the bag and bodes well for an RNS tomorrow. The Independent ran the following this morning, “In better news, Aim-listed Xcite Energy continued its ascendance that began in July. Traders back from their August holidays have taken note of…
It’s been a rough couple of days for Borders and Southern with a fall back from 32p to 23p at its low point today. The shares spiked sharply last week after the announcement of a likely 190 million barrel gas condensate find in its South Falkland Island acreage. After the sell off, at 24-25p, the shares…
We have gone long on ENRC today in our fund following 12 days down out of 13. We look to have put in a bullish reversal signal on the 4 hour chart and could see a run towards 340p over the next few days.
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Antofagasta announces an H1 pre-tax profit of $646m down 7.2% with group sales of $3.16bn up 3.5% and maintains its full year outlook Serco Group reports H1 revenues of £2.34bn just ahead of the estimates and a pre-tax profit of £120.5m from £11.8m,…
Back in 2008 and 2009, the UK and Irish governments threw serious amounts of tax payer money to bail out financial institutions that were considered “too big to fail” – Northern Rock, Royal Bank of Scotland, Anglo Irish amongst others. The peak cost to the UK tax payer was £1.2 trillion (though around £750bn has…
The Chinese Shanghai Composite Index continued its precipitous decline yesterday, closing down over 1% at 2,065 – now 6% in the red for 2012 YTD and the lowest since March 2009. The reason for the further falls was China Premier Wen Jiabao’s comments at the weekend pledging new measures aimed at stablising export growth perhaps…
UK Corporate Announcements Bunzl announces an H1 revenue of £2.61bn up 7% and an adjusted pre-tax profit of £165.1m and sees continued good growth ahead Cairn Energy reports an H1 net cash position of $927m and states it is re-balancing its business to deliver growth Yule Catto announces H1 pre-tax profit of £56m on sales of £603m and…
As widely predicted, its bad news (yet again) for the consortium of Range Resources, Red Emperor and Horn Petroleum drilling in Puntland, Somalia this morning. The RNS is as follows, The Shabeel North well has reached a total depth of 3,945 meters, penetrated 149 meters of interbedded sands and shales of the Triassic…
The 2008 financial crisis caught investors well and truly off-guard, decimating equity valuations across the globe to the tune of trillions, toppling the US & Western European housing markets, destroying millions of jobs & finally, infecting sovereign debt markets. Central banks and governments around the world have since made huge efforts trying to put their…
