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Stocks rose on most of the major bourses yesterday despite Angela Merkel’s comments that the summit would produce little in the way borrowing relief for Spain and Italy, which are facing soaring interest rates. The markets instead focused on some surprisingly positive U.S. economic data that demand for long-lasting manufactured goods rose much more than expected in…

Cash prices 6th resistance 5700 61.8% Fib retracement 5th resistance 5630 Previous resistance line 4th resistance 5624 Previous high 3rd resistance 5581 200-day moving average 2nd resistance 5545 Previous support line 1st resistance 5525 Yesterday’s high 1st support 5515 55-90min moving average 2nd support 5447 Yesterday’s low 3rd support 5435 Previous low 4th support 5427…

Not the finest hour for business tonight. Barclays has agreed to pay a fine of £290 million after investigators determined that since 2005 Barclays had been attempting to manipulate Libor (the London Inter Bank overnight rate), a key borrowing rate meaning that those paying off mortgages have potentially paid millions in unnecessary extra interest payments.…

High hopes remain (including from the editor of this magazine!) that the rescue strategy for Research In Motion would be for someone to simply buy the company. There has been, at various times, idle speculation about a wide-range of intriguing potential suitors – Facebook, Apple, Google, Amazon! But nothing ever comes of these rumors, and for certain…

The market is currently in limbo land adopting a “wait and see” approach ahead of the important EU summit on June 28-29th. Historians will one day look back at this summit as defining, because Europe really is now at a crossroads of utmost importance. The agenda will be broad and should range from specific steps toward…

Strong pending home sales data and good durable goods orders from the US have given Wall Street and European markets a boost today.The FTSE is currently up 68 points to 5,514 and the Dow Industrials are up 80 at 12,615. The Dow is at its highest level in a month or so. Contract signings on…

Mariano Rajoy – Spains embattled prime minister reached out today in urging European leaders to agree at this week’s summit on “urgent” mechanisms to allow fragile  and indebted European economies to refinance their debt on much more palatable terms and at the same time issuing a stark warning that his country would be unlikely to…

UPDATE (1) – Another half mill shares traded right off the bat… The stock is sitting right on the resistance line at 10p. Below is a chart that shows no real resistance until the 20p level – which interestingly is just around the 1/3 fibonacci retracement level. An RNS looks ever more likely, certainly if…

The ubiquitous Mr Goodwin If Jeff Skilling of Enron fame can be serving 24 years 4 months in jail (and a decent sized fine of $45 million for good measure), all because he misled investors, then quite why our UK banksters couldn’t be pursued on similar grounds is completely beyond us…?  The scandals of RBS, Northern Rock,…

Cash prices 7th resistance 5700 61.8% Fib retracement 6th resistance 5630 Previous resistance line 5th resistance 5624 Previous high 4th resistance 5580 200-day moving average 3rd resistance 5530 Previous support line 2nd resistance 5511 55-90min moving average 1st resistance 5477 Yesterday’s high 1st support 5436 Yesterday’s low 2nd support 5435 Previous low 3rd support 5427…