Yesterday morning Xcite Energy tested a low of 73.5p, a 52 week low, before reversing sharply and finishing the day up 9p or 11% at 90.5p. Volume was strong with nearly 9.6 million shares traded. The previous low for the year was 78p set in December 2011. Since then the company has upgraded its P2…
And so the restaurants, car dealers, real estate brokers and jewellers in and around Silicon Valley will be likely be doing brisk business this weekend and the equivalent to hundreds of multi million lottery wins are created with todays Facebook IPO. At its peak in early trade the shares hit $45 valuing the social media…
Update (2) – Given the fresh expressions of interest in the component parts of Plus Group by a variety of parties, there is increasing speculation that a break up bid is again being prepared by Gulf Merchant Bank. If this is the case they will certainly have to offer a premium to cash and a control…
Returning to a national currency after more than a decade of using the euro and having its money managed by the European Central Bank would catapult Greece into a financial, legal and political no man’s land. Countries have defaulted, devalued, or even withdrawn from a broader monetary union in the past. But none has done…
Another disappointing well result this week after the Chariot Oil and Gas bombshell, this time from Somalia’s somewhat aptly named Puntland region! Operator of the Shabeel well, Horn Petroleum Corp listed on the Canadian TSX, provided an update yesterday. The prospect is jointly owned by Red Emperor (20%) and Range Resources (20%) as well as…
The social network shares haven been priced at the top end of the range it set earlier this week, when it said it would price its IPO at $34 to $38 a share from $28 to $35 a share, in a sign of the tremendous investor appetite for the offering. At $38 a share, Facebook…
UPDATE (2) – It seems logical for Gulf Merchant to return to the table now and sell the SX direct to Icap. With confirmation of Misra’s interest in SX and DX now seeing potential acquirers, at the current price the shares still trade at cash value. Any Venture Capital company worth their salt could generate a…
The new iPhone that Apple Inc. is expected to unveil this year is likely to have a larger display than its current models have, with the company ordering bigger screens from its Asian suppliers, people familiar with the matter said. The new screens measure at least 4 inches diagonally, the people said, compared with 3.5 inches on Apple’s…
Japan’s Q1 GDP has come in ahead of expectations at 1%, compared with 0.1% in the fourth quarter of 2011. The growth was partly driven by infrastructure spending relating to the reconstruction efforts in the Tsunami area and consumer incentives to buy fuel efficient cars. In contrast, the Bank of England downgraded UK growth from…
And another day down – 9 out of 11. Vix upto 22, Put:Call ratio still firmly in bear camp territory.. . I had a couple of chats with various market participants and resignedness to the shakeout, forced selling and disgust were the prevailing sentiments relayed to me – to a contrarian trader, ones antannae are…
