Fri 24th May 13, 07:4
City sources predict the FTSE 100 will open up six points from yesterday's close of 6,697, as markets calm after Thursday's heavy losses and ahead of the Bank Holiday weekend.
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AIM-listed Falcon Oil & Gas has executed a conditional agreement with Sweetpea Petroleum Pty, a wholly-owned subsidiary of PetroHunter Energy Corporation, to acquire its 50m shares (or 24.2 per cent interest) in Falcon Oil & Gas Australia(FOGA). 27 minutes ago
Shares in AIM-listed oil and gas group Petroceltic International were under pressure on Friday morning with the company mulling an extension of a licence contract after having to abandon one of its exploration wells in the Black Sea. 32 minutes ago
Euro/Dollar: 1.2744/1.30. Ftse 100: 6,535/6,950.60. S&P 500: 1,597/1,687. 1 hour ago
Shareholders at IT infrastructure group Computacenter are in for a windfall of 75m pounds after the company outlined details of its cash return on Friday. 1 hour ago
Nikkei: +0.89% (14,612.45 points). Shanghai Se Composite: +0.30% (2,282.27 points). Hang Seng Index: -0.02% (22,665.27 points). 2 hours ago
3i Group has made an irrevocable offer to Barclays Bank to acquire Barclays Infrastructure Funds Management (BIFM), its European infrastructure fund management business, in what would be a 'significant milestone' for the group. 2 hours ago
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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.
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 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.
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.
Despite general US data thus far this week coming in a little softer, the dollar retains a bid tone, as US risk markets keep on posting new highs despite much speculation on whether USD may have rallied a little too far, too quickly.
Today we await CPI numbers and US data including housing, jobless claims and the Philly Fed.)