Risers: Rio Tinto, +3.4% Leading the way amongst FTSE 100 constituents, Rio Tinto investors have much to cheer. Rio has posted strong rises in output amongst a number of commodities including diamonds, iron-ore and coal whilst also raising the annual copper output target. WPP, +2.33% Shares in the advertiser have surged after confirming the acquisition…
By Ben Turney. Last week’s joyous market rally, in response to the Republican offer to extend the debt ceiling by six weeks, was absurd. Quite exactly why a marginal stay of execution was a reason to buy stocks is beyond me. American politicians have had over two years to reach a resolution, since the deficit…
Positivity it likely to drift into the market today as Democrat and Republican Senate leaders made progress in talks on a deal to postpone the debt ceiling limit. The agreement is set to suspend the debt limit through February 2014, funding the government to January and require a House-Senate budget conference in December. Asian…
With the U.S’s borrowing authority set to lapse on October 17th , the two main parties are still locked in a political stalemate and whilst “productive conversations have taken place” policymakers have still not reached a conclusive plan. Consequently, the 3-day advance U.S headline stock indices enjoyed on the back of Boehner’s comments last Wednesday…
A rather “smiley” Mr Stolper – I guess he hates green frogs?! UPDATE – 12 OCT 13 – I hope SBM readers took our suggestion to trade AGAINST the muppet slayer! As of last night, dollaryen was closing in on the “world’s worst currency trader” Mr Stolper’s stop loss (actually I’ve just realised how apt…
Risers: Royal Mail IPO, opened 450, trading 440 Shares in Royal Mail rose more than 38% to 456p at the start of conditional dealings on the London Stock Exchange this morning. The stock opened at 450p a share, over £1 higher than the initial 330p price given during the IPO. The hugely oversubscribed sale valued…
Alan Grayson We came across this interesting article, from a year ago, which postulates a way around the current debt ceiling impasse and does in fact mirror our thinking from earlier this year (we have always maintained that the Treasuries bought by the Fed will NEVER be sold back to the market and when they…
European markets opened hesitantly today as a lack of progress over the weekend on extending the US debt ceiling spooked investors. Despite Republicans and President Obama holding a 90-minute talk to try and find a compromise to avoid a default, a concrete resolution failed to be produced. Nevertheless, Senate leaders still remained confident…
By Dominic Picarda. DAX 30 The DAX triggered my buying advice yesterday by closing strongly through its 21-hourly EMA. I reiterate my call for a move to 8836. The latest bout of water-treading overnight should therefore be treated as another buying opportunity. Support: 8725.8 – Resistance: 9000.1 Support: 8700.6 – Resistance: 8938.2 Support: 8641.1 –…
