We have covered Bumi briefly before when it was trading around the 500p level in April and in which we opined upon the potential for a run towards the 600p mark. Although we caught a small bounce in the stock to the 550p level, as the chart below illustrates, it has been one way traffic…
I generally only see, no doubt like many traders, what I want to believe. I’d really like the economy to be getting better but all around me I see anecdotal evidence of doom and gloom. I was hoping like many that the Indices would rise, especially the SPX. In short, I was hoping for 1400.…
Between March and November of 2009, the MPC authorized the purchase of £200 billion worth of UK financial assets, mostly UK Government debt or “gilts”. The MPC voted to begin further purchases of an additional £75bn in October 2011 and, subsequently at its meeting in February 2012, the Committee decided to buy an additional £50bn.…
A fairly bullish week driven by relatively positive earnings news from the United States ended with a big sell off on Friday due to renewed concerns about Eurozone debt issues with Spanish bond yields rising to unsustainable levels once again. With many big earnings announcements out from US companies over the last 2 weeks, including…
European shares fell from their recent highs as Spain’s borrowing costs once more climbed back above the key 7 percent pain threshold on Friday and Valencia – one of its heavily indebted regions called for aid. Ibex 10 day chart Euro zone finance ministers formally agreed a memorandum of understanding which will allow Madrid to…
It seems that you can’t keep a good (or crazily undervalued!) stock down… Gulfsands shares are up again this morning and on good volume too. This is interesting considering the veto-ing at the UN meeting last night by China & Russia of further economic sanctions against Syria. Perhaps the markets smells change is coming and…
News yesterday that Ignis Investment Services had increased their share holding to around 7% appears to have put a firm floor on the Borders and Southern share price. After moving as low as 14p yesterday, the shares are currently 18p to buy, a 7.5% rise on the day. After the disappointment of the Stebbing well…
UK Corporate Announcements Close Brothers states that trading had been consistent with its last statement, and that its AUM made a small loss as expected Anglo American announces Q2 iron ore output gained 12% with De Beers H1 total sales of $3.346bn WH Ireland announces H1 group turnover gained 10.5% from last year to £12.6m…
Initial jobless claims in the US jumped sharply in the week ending July 14 to 386,000, as reported today by the US Labor Department, while economists surveyed by Bloomberg were expecting 365,000. Last period claims were revised higher by 2,000 to 352,000, but still the lowest number in weeks. Initial jobless claims have been consistently…
The RNS this morning from JJB was truly shocking and, as much as it pains me to say it, Evil Knievil was correct on this one and we were wrong. We were ready to give Keith Jones the benefit of the doubt following extensive dialogue with him towards the end of last year. Alas, it…
