Following the double whammy of RNS’ today from Lonmin relating to the serious illness that has struck Ian Farmer the CEO and the ongoing violence issues at its South African mines (and with veiled hints at debt covenant issues) we have opened a new long position in this stock with high conviction. The company is,…
It seems investors are content to continue to bid equities up with key US indices finishing flay yesterday. This is perhaps not surprising given the gains we have seen over the past 10 days. Markets will also no doubt be mindful of attention turning towards the Fed Meeting at the end of the month. Mixed…
UPDATE – The stock is again up this morning on heavy volume of approaching 1m shares already. I understand that discussions with a number of institutions in relation to a fund raising have gone very well and so it looks likethe future of the company is secure to the point of commercial launch. It wouldn’t…
North Falklands basin oil explorer, Desire Petroleum, today issued a competent person’s report (CPR) update on the Elaine and Isobel prospects prepared by Senergy. This CPR covers the interpretation results from the 2010/2011 merged 3D seismic data over the Elaine and Isobel prospects which are located wholly within the PL004a licence in which Desire has…
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Hikma Pharma announces H1 profit of $40.4m on revenues of $532m on sales of $532m Carclo states that it is trading in line with its expectations Micro Focus announces plans to return 50p/share to shareholders, as it keeps its full year…
After being accused of money laundering activities by the New York State Department of Financial Services, headed by Benjamin Lawsky, Standard & Chartered agreed yesterday to pay $340m (£271m) to settle the accusations. The stock rose today but they are still below its pre-crisis level as some investors expect there to be potential spillover connotations.…
Facebook Braced for Further Downside Tomorrow sees the end of the lock up period which means insiders are able to sell up to 270 million shares in the company. The question is will insiders sell some of their holding at the current market price of $20 per share or sit tight given that this is…
John Paulson, founder and President of Paulson & Co, a New York-based hedge fund has had a pretty torrid time of late. Paulson made nearly $4 billion personally (!) in 2007/08 by short-selling subprime mortgages and cleaned up again to the tune of $5 billion in 2010 – a record for the hedge fund industry.…
Economic statistics out of Europe yesterday threw more gloom over the European landscape – particularly on the periphery. Germany’s GDP slowed from 0.5% to 0.3% during the second quarter, albeit still above forecasts of 0.1%. France provided a pleasant surprise, posting a third consecutive quarter of zero growth and not the 0.1% contraction expected thus…
At last look JJB were down at 3.37p and in the 2nd auction of the day. Not looking good for shareholders in the sports retailer. The US giant revealed a $32.4m (£20.68m) impairment charge in its second quarter results yesterday and said JJB Sports’ performance had “materially deteriorated from its expectations”. Last month JJB revealed…
