Risers: British Sky Broadcasting Group, +4.6% British Sky Broadcasting Group PLC today led the FTSE 100 gainers after reporting a rise in revenue boosted by existing subscribers taking on new products, but overall profit fell. Revenue rose to £1.84 billion, slightly ahead of analysts’ expectations. However, optimism was capped after the chief executive Jeremy Darroch…
By Dominic Picarda. Unsurprisingly, America’s politicians have settled their differences over the debt ceiling and government shutdown. The alternatives would have been entirely self-defeating. The US enjoys an “exorbitant privilege” as the issuer of the world’s reserve currency and was never likely to undermine its standing by needlessly if only temporarily defaulting on its debt.…
Finally after 16 days of shutdown congress finally passed legislation to raise the debt ceiling until 2014, allowing the US government to re-open and delaying the immediate fear of default for the time being; budget negotiations have been pushed back to December 13th and government spending until January 15th 2014. Last night’s vote passed by…
Finally after 16 days of shutdown congress finally passed legislation to raise the debt ceiling until 2014, allowing the US government to re-open and delaying the immediate fear of default for the time being; budget negotiations have been pushed back to December 13th and government spending until January 15th 2014. Last night’s vote passed by wide margins…
By George Leong, B.Comm. If you are a gold bug, you probably won’t like what I have to say in this column, but just give me a chance to explain why I simply feel the time for the shiny yellow metal has come and gone for now. Yes, the yellow precious metal could inevitably head back…
By Zak Mir. FTSE 100 Miners: Rio Tinto (RIO): Surprise strength for the big FTSE 100 miners given the weakness in precious metals Island bottom and unfilled gap to the upside for Rio Tinto through 200 day moving average Extra bullish given gap through falling 200 day line Implied target towards 2013 price channel top…
By Filipe R. Costa Six months after the European Union and IMF raided Cypriot bank deposits, global central planners now have their eyes on fixed on the rest of Europe’s savings. March’s “Cypriot Experiment” shocked asset owners around the world for three main reasons. First a tax on bank saving represented a second tax. After…
Risers: IMI PLC, Topping the list of FTSE 100 risers, Shares in IMI have surged after the international engineering company agreed to sell its beverage dispenser and merchandising businesses to Berkshire Hathaway Inc.’s Marmon Group for about $1.1 billion in cash to focus on industrial valves and fluid control systems. Additionally, IMI have confirmed that Q3…
By Dominic Picarda. The standout performer among the markets covered here right now is clearly the DAX. Despite the continuing uncertainty in Washington, the German index has spurted higher overnight, having held up well yesterday. Especially heartening is the current positioning of retail traders. Something like 83% of them are short of this index, according…
