North Sea oil producer, Ithaca Energy, saw its shares hit £1.10 yesterday. The shares have fallen from over £1.75 in the last week or so on news that it had ended takeover talks with several interested parties due to the offers being insufficiently high! This morning the company has today announced that the North Sea…
Shareholders in Plus Markets, the embattled junior stock exchange, say they feel misled by the company’s management over its financial health. The comments come amid growing investor anger over the proposed sale of the stock exchange to interdealer broker Icap.Furious Plus investors claim they were ‘misled’ Plus Markets announced it was winding down on May…
All eyes are on the emergency G7 finance minister conference call tonight with Germany pressuring Spain to take emergency aid to help solve its ongoing banking crisis. The pressure now seems to be on Eurozone members to agree to give up more fiscal sovereignty as part of a closer European fiscal union. With the US…
Four charts shedding light on:- i) Spain 10-year yields heading towards 7%ii) BRICS are insufficient to hold up the global economyiii) A coordinated central bank FX swap operation is unlikely at this pointiv) Broad-based deterioration in eurozone macro dynamics Source of image – Bloomberg 1. Spanish bond yields: 7% beckons As Spain’s 10-year bond…
Market Trends Cash prices except Crude Oil (July) S&P 500 EUR/USD Gold Crude Oil Trend Up Down Down Down Buy or sell Buy Sell Sell Sell Trend change below 1310 above 1.2600 above 1583 above 92.2 Probability of trend change 50% 50% 50% 50% Trends over the next 1-2 days. The trend is likely…
Good news over the weekend from Greece sent the futures higher this morning and major European indices opened with a gap up. It’s a US holiday today, so while our friend’s stateside take a rest for Memorial Day European trading may be a little subdued. last Thursday I gave a technical argument for a bullish…
Cash prices 7th resistance 5820 Previous high 6th resistance 5735 Previous resistance line 5th resistance 5603 61.8% Fib retracement 4th resistance 5557 200-day moving average 3rd resistance 5409 Previous high 2nd resistance 5385 Yesterday’s high 1st resistance 5375 Previous support line 1st support 5351 55-90min moving average 2nd support 5312 Yesterday’s low 3rd support 5268…
There is a saying that “good things come to those who wait”. Trouble is, most people can’t, or won’t, stick around for long – at least not when it comes to their money, and particularly so in the quick-fire arena of spreadbetting where instant riches are ‘expected’. The above table is particularly interesting as…
If you are short: 1st resistance at 5389 (55-90min moving average). Weak stop loss above that level. 2nd resistance at 5409 (previous high). Fair stop loss above that level. 3rd resistance at 5557 (200-day moving average). Strong stop loss above that level. If you are long: 1st support at 5263 (yesterday’s low). Weak stop loss…
After a series of disappointments during 2011, results from Hewlett Packard and Dell over the last 2 days show the pressure being felt by the traditional PC manufacturers as consumers increasingly purchase Apple and Samsung products. Dell shares dropped 17% yesterday to $12.50 after poor results and a weak outlook for the remainder of 2012…
