Cash prices 6th resistance 5820 Previous high 5th resistance 5665 Previous resistance line 4th resistance 5603 61.8% Fib retracement 3rd resistance 5576 April 11 low 2nd resistance 5570 200-day moving average 1st resistance 5555 Yesterday’s high 1st support 5461 Yesterday’s low 2nd support 5455 Support line 3rd support 5442 55-90min moving average 4th support 5285…
Nokia’s latest profit warning last week and attendant announcement of massive layoffs are raising an important question in the stock market: Just how much is the cellphone company’s business really worth? Some analysts are indeed thinking the unthinkable and now looking to value Nokia not as a going concern but simply on the value of…
UPDATE (2) – Shocker! Amari Dhari abstained. Resolutions passed in favour of the deal – 63% in favour. A closer look at the votes cast shows a strong No vote by the retail holder – some 49m shares – including S Chapman and myself that means nearly 30m shares voted against. When we said we…
The pro austerity, centre right, New Democracy party narrowly gained a majority following yesterday’s Greek election sending Asian markets higher overnight. The party was showing a 29.7% share of the vote versus 26.9% for the left wing, anti-austerity Syriza party. So a relief rally is on the cards. FTSE 100 futures are up 40 points…
The diagram above charts what is called the Buy To Open Put Call ratio in the US – which is a measure of pessimism and is thus interpreted on a contrarian basis, ie the higher it is the more bearish people are. This therefore means there is potential fuel for a rally. Looking at above,…
Treasury bond yields which continued to fall to record lows in early June have begun to turn up in recent days as we can see from the chart below. Falling bond yields are of course symptomatic of economic weakness. The chart below compares the yield on the 10-Year T-Note (green bars) to the S&P 500…
The FTSE 100 closed on Friday at 5,479, up 0.8% on the week. The Dow Jones Industrial Average gained 1.7% on the week to close at 12,767, after a 115 point gain on Friday. The S&P 500 Index moved up 1.3% on the week to 1,343 and the Nasdaq Composite rose 0.5% to 2,873. Gold…
The markets continued to rally this last week against a backdrop of uncertainty surrounding the outcome of the Greek election; the polls are indicating a close call between the two parties with conflicting opinions on whether Greece should remain a member of the Eurozone. Depending on the results, the markets could gap in either direction…
ICAP’s takeover of Plus is central to the broker’s plan to move aggressively into futures trading for the first time and tackle the dominance of the NYSE Euronext and Deutsche Boerse exchanges. Analysts view the deal as a move by the broker to pay a cut price for PLUS’s exchange licence, a potentially attractive asset…
Board of DirectorsPlus Markets Group plc33 Queen Street,
London EC4R 1BR Dear Sirs, Plus Markets Group Plc (the “Company”) As one of the Company’s largest shareholders, without whose funding the Company may have already ceased to exist, we are extremely disappointed at the contents of the announcement made on 8 June 2012, which we believe is…
