Wednesday, 19th June 2013

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News & Reports

Broker snap: UBS downgrades Aggreko to 'buy'

Wed 19th Jun 13, 10:52

Benjamin Chiou

UBS has cut its recommendation for temperature control and power solutions firm Aggreko from 'buy' to 'neutral' and lowered its target price from 1,975p to 1,850p, saying the company faces headwinds next year.

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Caza secures advance to boost Texas well production

AIM-listed independent energy company Caza Oil & Gas has agreed to an advance in the gross amount of 450,000 pounds pursuant to its 6.0m pound Standby Equity Distribution Agreement (SEDA) between the company and YA Global Master SPV, an investment fund managed by Yorkville Advisors Global, LP. 57 minutes ago

Broker snap: Imagination Tech is undervalued, says Peel Hunt

Peel Hunt has kept its 'buy' rating and 630p target price for chip designer Imagination Technologies following the group's annual results on Wednesday, saying that shares are undervalued. 1 hour ago

Gulf Keystone Petroleum commences further exploration of Shaikan field

AIM-listed independent oil land gas exploration and production company Gulf Keystone has commenced a drilling campaign to explore deeper and as yet untested horizons of the Shaikan field which the company operates. 1 hour ago

Fed President Bernanke to offer clues on tapering

Will Federal Reserve (Fed) President Ben Bernanke come to the rescue of markets battered by volatility by giving some clear indication of when the reduction in the asset purchase program will finally come to pass? 1 hour ago

Air Frances signs MoU with Rolls-Royce

Rolls-Royce said Air France has signed a memorandum of understand with the company for Trent XWB engines to power 25 Airbus A350s. 2 hours ago

Asia: Weaker yen propels gains in Tokyo

Shares in Tokyo rose to a one-week high on Wednesday ahead of the outcome of the Federal Reserve policy decision this evening and as the weaker yen enticed buying cross several sectors. 2 hours ago

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Disclaimer: This news feed is provided by Digital Look Ltd. BullBearings Ltd do not necessarily share the views expressed within the stories. The stories are for general information purposes only and not a solicitation or personal reccomendation to deal. BullBearings Ltd accepts no liability or responsibility for any of the content contained in the information provided by Digital Look Ltd.

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 quantitative easing (QE) in the UK, which would drive sterling sharply lower.

GBP/USD 
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 the GBP 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.

Aim stock to watch: Falkland Islands Holdings (FKL)

By Andrew Hore

Falkland Islands Holdings (FKL) provides investors with a lower risk exposure to the potential development of oil and gas prospects in the Falkland Islands. However, the return on the investment is unlikely to be seen until 2015 at the earliest.

Last year, FTSE 250 company Premier Oil acquired a 60% stake in the Sea Lion prospect discovered by Rockhopper. It is expected to cost $3bn to get to the point where the first oil is produced, which is likely to be the third quarter of 2017.

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.

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