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London midday: Markets fall as caution sets in

Fri 24th May 13, 11:41

Benjamin Chiou

Mining and banking stocks were weighing on the FTSE 100 on Friday morning as the index extended losses following yesterday's dramatic sell-off.

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Friday tips round-up: BTG, SAB Miller, Electrocomponents

Shares of BTG have been held back since the start of the year due to concerns regarding impending acquisitions. Nevertheless, now that these - and a 106.3m pound capital issue - are out of the way the stock should progress, says The Times's Tempus. The company will acquire North America based Ekos and one of the business units of Nordion, for a total amount of up to 280m pounds. That for a company with a market capitalisation in the 1.1bn pound area. Critically, non-organic growth is a pillar of the firm's strategy - although this is its most ambitious step yet. 2 hours ago

Bank of England's Fisher says no to US-style stimulus

Bank of England (BoE) policymaker Paul Fisher said he did not want a US-style quantitative easing programme for Britain as it would be too hard to manage. 2 hours ago

Broker tips: StanChart, AVEVA, Thomas Cook

Investec has maintained its 'buy' rating and 1,900p target price for emerging markets-focused lender Standard Chartered, saying that the stock remains its top pick in the banking sector. 2 hours ago

Waterlogic to acquire Cool Clear Water Group

Water cooler and filtration system manufacturer Waterlogic has made a conditional agreement to acquire the entire share capital of Australian company Cool Clear Water Group(CCW). 2 hours ago

Broker snap: Credit Suisse hikes AVEVA target but stays cautious

Credit Suisse has lifted its target price for engineering data and IT group AVEVA from 2,013p to 2,240p to reflect the company's cash return and a lower tax rate. 3 hours ago

Legendary Investments advances on investee's Portuguese gold results

AIM-listed investment company Legendary Investments has reported that its investee company, Medgold Resources Corp has reported promising first-pass sampling results at its wholly-owned Vila de Rei gold project in central Portugal, which covers 40 line kilometres of a regional structure. 3 hours ago

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Traders' views

Be careful when trading on margin

By Ronnie Chopra

With record numbers of people trading on margin through CFDs and spread betting, it is extremely important not to use all the leverage available which can be tempting but one must resist -  as within a blink of an eye your position(s) can be wiped out.  

With leverage sometime 100 times for an instrument, especially indices one has to be very careful when trading as the risk/reward is extremely high. It is no joke to say that trading is riskier than visiting a casino. Profits and losses can be far greater trading!

As with most currencies...”it’s all about Bernanke!”

By Ishaq Siddiqi

Earlier this week we heard from the Reserve Bank of Australia and the minutes of their meeting, which generally confirmed what most had suspected: that the strength of AUD was a pivotal factor in what was an otherwise close decision to cut interest rates.

The all-important policy guidance at the end of the minutes reveals that the RBA opted to use “some” (the “some” comment is a repeat from a couple of weeks ago) of the scope afforded by the low first quarter inflation figures and outlook, to lower the cash rate. 

A stimulus programme might be the way to go for the UK

By Christopher Beauchamp

The latest Japanese GDP reading highlights the success that the new massive stimulus programme being carried out in Japan has had in revitalising that stricken economy. Today’s drop in UK inflation suggests that the new Bank of England governor may be wise to suggest a similar policy for the UK.

The equity markets are too confident to ignore geopolitical risk and war

By Ronnie Chopra

The markets seem to be extending their highs in recent days with no concern about the continuing threat of war in the Middle East.

This morning, news that Israeli and Syrian forces have exchanged fire across the ceasefire line in the occupied Golan Heights was largely ignored by the financial markets. 

Sharp fall in silver today – fallen to levels not seen since September 2010

By Ronnie Chopra

This morning silver fell to levels not seen since September 2010 as commodity prices slumped overnight in Asia and this extended in early London trading. Although here is plenty of physical buying from China, India and the Middle East – there is heavy computer ETF selling.

A strong dollar and outperforming equity markets have shifted investor’s attention to more risky assets with silver suffering.

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