Wed 23rd Apr 14, 1
Alex Bueso - Editor in Chief
The minutes of the Monetary Policy Committee's (MPC) last rate-setting meeting showed that the decision to keep the current monetary policy settings unchanged was supported by the full majority of its members, with nine having voted in favour of no change and none having voted against.
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Panmure Gordon has upgraded its rating for Associated British Foods from 'hold' to 'buy' after the company announced its intention to expand its fast-growing Primark brand into the US. 20 minutes ago
Shares in Iodine producer Iofina fell by more than half in early trading after it warned that production will be significantly below market expectations as it is temporarily supplied with less brine water due to nearby drilling. 58 minutes ago
AstraZeneca: Citi raises target price from 3500p to 4900p and upgrades to buy. 1 hour ago
Growth in business activity in the Eurozone accelerated at its fastest pace in almost three years in April, according to the preliminary purchasing managers' index (PMI) published on Wednesday by Markit, although these experts warned that dropping prices fan the fears of deflation. 1 hour ago
European stocks have come under slight selling pressure early on following mixed readings on the manufacturing sector in France and Germany. 1 hour ago
0930: UK public sector net borrowing slipped to 6.7bn pounds in March, from 8.8bn pounds in the month before (consensus: 11bn pounds). In parallel, the minutes of the Monetary Policy Committee's (MPC) last rate setting meeting showed that the decision to keep the current monetary policy settings unchanged was supported by the full majority of its members. FTSE 100 up 5 to 6,686. 50 minutes ago
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In this, the first of a series of four articles, I will explain some forex misconceptions are, and outline the feature that is the real “holy grail” of the market. In the following three parts, I will show how a robust trading strategy can be built that will give the new or aspiring trading an edge with an overwhelming probability of profitability over the long run.
In order to begin our journey, it helps to begin with an allegorical story, in order to demonstrate the nature and challenge of the struggle of trading.
Those who have followed me for some years will know I am a fan of seasonality and as I have explained in previous updates, financial markets do not go up or down evenly throughout the year in a nice orderly straight line; that would be far too easy.
If we invested $10,000 in the Dow Jones on 1st November and and then taken our money out on April 30st from 1950 to date we would now have over $950,000. We would have been out of the market May until end of October each year missing a few crashes in the process.
The USD/CHF pair fell during the session on Friday, but did so in a relatively tame manner, leading me to believe there are still opportunities for short-selling.
After all, we have seen for strong selloffs as far as daily candles are concerned, and then have finally see the market settle down for the Friday session.
Cloud computing services provider Nasstar (NASA) has been transformed by its acquisition of rival e-know.net. The integration of the operations is already far advanced and the business should be profitable this year.
e-know.net was established by David Redwood in 2000 and it was much larger than Nasstar, which paid £13m in cash and shares for the company in January and raised £10.5m from a placing at 5p a share.
Shares in Abcam (ABC), the provider of antibodies for the life sciences research and testing sector, have fallen by more than a quarter in recent weeks after a profit warning at the beginning of last month, with some investors clearly now having doubts about the long term future for the company. But new research might indicate things aren't as bad as some doomsayers believe.
Independent antibody search engine CiteAb has released new data today that suggests that this is a temporary dip for Abcam, with a brighter future ahead.