After the great spreadbettor sector slump I stayed short of Plus500 (LON:PLUS) since I decided long ago that they are absolute rotters. However, I bought IG (LON:IGG) at 495p since it is an astonishingly well run business to which no hint of scandal has been attached by anybody I have encountered.
I see that Odey have been buying yet more PLUS. One has to admire their loyalty. Their view is that although PLUS is a nasty company nobody in power will rub them out.
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I am told that Lonmin (LON:LMI), now 151p, are very lowly valued in relation to their “sunk” economically worthwhile cost – perhaps eight times the current price. If the price of platinum (now c. USD945) shows sign of firming it could cause aggressive intentions from a bidder – although if I were a putative bidder I would be cautious about South Africa.
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Finally, I am going through serious grief on my EUR/USD short since the Euro keeps pushing up. It shouldn’t really given that the Italian banking crisis continues. Italians, more voting please.