Tuesday 21 August 2012
QUOTE OF THE DAY
"Life is not about how fast you run or how high you climb, but how well you bounce."
- Vivian Komori
THIS MORNING IN LONDON
FTSE 100
5,842.37
18.00 0.31%
FTSE 250
11,617.56
54.29 0.32%
FTSE 350
3,104.93
10.21 0.33%
FTSE All Share
3,37.36
10.02 0.33%
AIM 100
3,084.01
13.14 0.43%
AIM All Share
683.72
1.75 0.26%
13:15 pm
TIP OF THE DAY
Chemring - Potential Identified
A report from Zak Mir of Zaks-TA
Earlier this week I was patting myself on the back (someone has to) at what a comprehensive and generous offering Zaks-TA.com is. Indeed, the only thing that I would have liked to have achieved is more bid and M&A targets via technical analysis, just to prove that it is a great methodology even if you know nothing of the underlying fundamentals..
Click here to read the full article…
THIS MORNING IN LONDON
Stocks hold on to gains
- Glencore-Xstrata merger dominates the headlines
- Eurozone announcement could be near, says analyst
- Chinese stimulus hopes lift stocks
London's FTSE 100 had come off its intraday highs by lunchtime but was still trading firmly in the blue, with solid gains in the mining sector providing a lift.
"While the stocks are not making significant moves higher, they are holding on to recent gains which suggests there is a belief that the Eurozone are about to turn a corner," said analyst Craig Erlam from Alpari.
"This could be in the form of central bank intervention, or a move by the Eurozone leaders to use the bailout funds to bring yields to sustainable levels. We may have to wait until the middle of September for this, but there is a feeling that a big announcement is near," he said.
In domestic news, UK public sector net borrowing in July was £600m, compared with a surplus of £2.8bn the year before. Economists had forecast a surplus of £2.2bn.
The People's Bank of China last night ramped up its reverse-repurchase operations, injecting 220bn yuan ($34.6bn) into the financial system. Meanwhile, state-run news agency Xinhua said that China is considering fresh stimulus for the second half of the year.
FTSE 100: Glencore-Xstrata tie-up "not a must-do deal"
Shares in Xstrata were higher by lunchtime in spite of Glencore CEO Ivan Glasenberg saying that the proposed merger of the two companies is "not a must-do deal". Speaking to Dow Jones Newswires, he said: "If we don’t do it now, we can do it in the future."
Glencore was trading in the red despite beating profit estimates in the first half. Nevertheless, adjusted EBITDA still slipped 17% year-on-year on the back of falling commodity prices.
Mining stocks on the whole were making gains this morning, helped higher on hopes that a stronger Chinese economy would boost the demand for commodities. Kazakhmys, Vedanta, Fresnillo, Anglo American and Polymetal were among the best performers.
Banking group Barclays was a high riser after announcing that it is looking at combining the majority of its operations in Africa with its subsidiary Absa Group, in line with its strategy to operate as 'One Bank' across the continent. Lending peers RBS and Lloyds were also in demand.
FTSE 250: Oil peers Heritage and Ophir provide a lift
Oil group Heritage jumped after saying that it would sell Genel Energy its 26% interest in the production sharing contract relating to the Miran Block in Iraq.
Sector peer Ophir Energy also gained after saying that it has successfully encountered gas at the Fortuna East-1 step out exploration well on Block R, Equatorial Guinea, as well as in the deeper Viscata exploration target.
FTSE 100 - Risers
Vedanta Resources (VED) 952.00p +2.92%
Fresnillo (FRES) 1,529.00p +2.34%
Anglo American (AAL) 1,957.00p +2.22%
Kazakhmys (KAZ) 731.50p +2.09%
Evraz (EVR) 264.40p +2.01%
Barclays (BARC) 194.70p +1.99%
Aviva (AV.) 331.40p +1.97%
Royal Bank of Scotland Group (RBS) 236.10p +1.90%
Polymetal International (POLY) 944.50p +1.89%
Petrofac Ltd. (PFC) 1,497.00p +1.77%
FTSE 100 - Fallers
Ashmore Group (ASHM) 352.60p -0.79%
Rexam (REX) 433.40p -0.76%
IMI (IMI) 908.00p -0.66%
Carnival (CCL) 2,165.00p -0.64%
Centrica (CNA) 327.30p -0.55%
BP (BP.) 449.70p -0.51%
Aggreko (AGK) 2,265.00p -0.48%
Capita (CPI) 735.50p -0.47%
Royal Dutch Shell 'B' (RDSB) 2,329.00p -0.45%
British Sky Broadcasting Group (BSY) 766.50p -0.45%
FTSE 250 - Risers
Heritage Oil (HOIL) 190.50p +13.33%
Aquarius Platinum Ltd. (AQP) 38.83p +5.43%
Ophir Energy (OPHR) 549.50p +4.57%
WH Smith (SMWH) 595.00p +3.84%
IP Group (IPO) 128.90p +3.78%
International Personal Finance (IPF) 318.70p +3.47%
African Barrick Gold (ABG) 447.90p +3.44%
Daejan Holdings (DJAN) 2,985.00p +3.29%
Dechra Pharmaceuticals (DPH) 496.00p +3.29%
Hochschild Mining (HOC) 433.70p +3.26%
FTSE 250 - Fallers
Amlin (AML) 378.70p -2.67%
Persimmon (PSN) 690.00p -2.13%
Essar Energy (ESSR) 108.70p -1.90%
Premier Farnell (PFL) 190.80p -1.65%
Ferrexpo (FXPO) 191.50p -1.64%
Interserve (IRV) 349.30p -1.61%
Wood Group (John) (WG.) 822.50p -1.56%
Hays (HAS) 81.80p -1.21%
Go-Ahead Group (GOG) 1,312.00p -1.20%
Redrow (RDW) 140.60p -1.19%
WHAT THE BROKERS SAY
Westhouse Securities has downgraded its recommendation for African Barrick Gold (ABG) from 'strong buy' to 'neutral' following the recent surge in the shares.
Commodities producer and marketer Glencore produced a 'big beat' in its first half, according to Jefferies, leading the broker to reiterate its 'buy' recommendation and 400p target price for the stock.
Credit Suisse has reiterated its 'outperform' rating and 925p target price for Wood Group, saying that the oil and gas services firm outdid its UK peers with its first-half results.
Click here for the rest of the broker recommendations
THE LATEST ON THE CRAZY BOARD
The top 5 hot company threads on the Bulletin Board:
KURDISTAN-TXO JOIN GULF KEYSTONE WITH 10% STAKE
PUNTLAND - RANGE HIT MASSIVE OIL COLUMN - PL
Sareum SAR
SOUND OIL MULTIPLE PLAYS
CHEMRING (CHG)
Click here to discuss shares with other ShareCrazy members
BOOK OF THE WEEK
By Rodney Hobson
A book review by Luka Lukic of t1ps.com
In this book Rodney Hobson aims to provide a straight forward introduction into the world of portfolio management and best practices to employ when selecting what you want to invest in. Thankfully it doesn't pretend to offer a guaranteed, one size fits all, scheme to become a millionaire, but instead attempts to compel the reader to assess what they wants to get out of their investment and then provides guidance to that end.
The book aims to explain the different behaviours of the various market sectors, and the importance of not only holding a range of shares, but diversifying them throughout the sectors to ensure a proper hedge. It also walks the reader logically through a range of factors than can, and most likely will, affect the share price and gives case studies to demonstrate the impact on real companies.
Click here to view th0e rest of the article
Regards,
ShareCrazy
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