Wednesday, 19th June 2013

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Latest stories in the Press round-up section

Tuesday newspaper round-up: Liberty, Co-op Bank, Severn Trent

18 hours ago

Liberty Global has entered the bidding for Kabel Deutschland, the Financial Times reported. The media group, controlled by John Malone, has put in a potential offer that would top a price tabled by Vodafone last week and value Germany's largest cable operator at about 7.5bn euros. People familiar with the talks told the newspaper that Liberty Global made an indicative offer to KDG at about 85 euros per share.

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Tuesday newspaper round-up: Liberty, Co-op Bank, Severn Trent

Liberty Global has entered the bidding for Kabel Deutschland, the Financial Times reported. The media group, controlled by John Malone, has put in a potential offer that would top a price tabled by Vodafone last week and value Germany's largest cable operator at about 7.5bn euros. People familiar with the talks told the newspaper that Liberty Global made an indicative offer to KDG at about 85 euros per share. 18 hours ago

Monday newspaper round-up: Co-op Bank, Lloyds, Platform...

The Independent says that the Co-op Bank will this week announce plans to fill a 1.5bn-pound hole in its finances. The rescue, brokered with the Bank of England's Prudential Regulatory Authority, will see 5,000 investors take a haircut on money they lent to the bank. 2 days ago

Sunday newspaper round-up: RBS, Co-op bank, easyJet

Foreign-owned bank branches - as opposed to subsidiaries - in Britain made the country's financial crisis worse, as they moved to shrink their loan books by almost half at the height of the credit crunch, according to Bank of England research, The FT Weekend reports. The other factors which explain the implosion seen in bank credit were the higher proportion of lending to businesses, a greater reliance on the more fickle forms of funding and to an extent the role played by Icelandic banksī branches. As an aside, several Chinese banks recently complained that they were prevented from opening UK branches. 2 days ago

Friday newspaper round-up: RBS, Polymetal, Apple...

According to The Scotsman, Sainsbury's Chief Executive Officer (CEO) Justin King is among the names being thrown into the hat of potential recruits for the CEO role at RBS, "although a candidate from within the financial services sector remains most likely to replace Stephen Hester". The paper also names Tesco Bank boss Benny Heggins and Lloyds Deputy Chairman David Roberts as possible candidates. 5 days ago

Thursday newspaper round-up: Stephen Hester, Ofgem, Centrica...

The Independent says that the news of Stephen Hester's departure from RBS "perplexed" many in the City last night after his work that nursed the bank back to health, with several describing his treatment as "shabby". The bank said that it was looking for a new leader ahead of its re-privatisation. 6 days ago

Wednesday newspaper round-up: Lloyds, Afren, BoE...

After The Times' undercover investigation found that Lloyds was mis-handling complaints about PPI mis-selling, the Financial Conduct Authority has asked the paper to hand over information for a report that is to be published this summer. 7 days ago

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Traders' views

Expect GBP, CAD & AUD weakness

By Ronnie Chopra

From a purchasing power point of view, Sterling above 1.50 USD seems difficult to justify and with Mark Carney taking the reins at the Bank of England from July we may already have seen Sterling's 2013 year high. Carney has been a strong advocate of more QE in the UK, which would drive Sterling sharply lower.

GBP 
Sterling’s sharp rise against the US dollar has caught many by surprise, the currency has recovered from 1.51 USD in May to the current 1.57 USD level. However, the 1.57 level is proving difficult to cross and we won’t be surprised if the USD now begins to regain some ground and take Sterling back to below 1.55 USD over the next couple of weeks.

Emerging Markets Hurt On Fears Over Reduced Liquidity/Slowing Growth

By Ishaq Siddiqi

Fears over a reduction in global liquidity as central banks scale back easing measures sends emerging markets in a rout with slowing global growth adding to the malaise.

EM’s have been the biggest beneficiaries of loose global central bank money over the years; central banks around the world have pumped in $12trillion of extra liquidity since the financial crisis of 2008, preventing a systemic risk in the market.

All asset classes seem unloved at the moment

By Ronnie Chopra

Over the last few weeks global equity prices have fallen quite sharply, the FTSE 100 has fallen from 6875 which was reached on 22nd May (only 120 points from its all -time high set in December 1999) to the current level which is just above 6300 - an 8% fall in 3 weeks.

The Dow Jones Industrial Average Index has fared better, albeit still over 300 points lower now than its recent record high. The US benchmark index hit an all-time high on May 29th at 15542. The Nikkei index has experienced > 20% fall from 16,000 to 12,500 in a matter of a few weeks but it has since bounced to just above 13,000.

How markets react to levels and zones of support and resistance

By Paul Wallace

Lets look at what creates support and resistance levels in markets, using gold as an example. Just watching these levels is a good trading strategy.

In my last piece (I feel the need, the need…to slow down) I commented on several things that traders could do to help improve their understanding of markets in an effort to improve their own trading.

Aim stock to watch: Hydrodec (HYR)

By Andrew Hore

Cleantech oil refiner Hydrodec (HYR) is set to accelerate its growth through a joint venture deal with a major US-based electricity transformer oil recovery business. A new strategic partnership with G&S Technologies will propel Aim-listed Hydrodec towards profitability and help it to scale up its US operations.

Analysts at Edison believe that Hydrodec could move into profit in 2015 and this model could form the basis of geographic expansion.

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