News & Reports

Invensys to return proceeds of rail sale to shareholders

Tue 21st May 13, 09:02

IT and engineering firm Invensys is returning to shareholders 625m pounds of the cash proceeds from its sale of its Rail business to Siemens.

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Today's Market Reports

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Solo Oil boosted by developments in farm-out discussions

Solo Oil shares moved higher on Tuesday morning after the company clarified that FirstEnergy Capital, which is acting for both Solo and Aminex, continue to actively discuss a farm-out of the Ruvuma production sharing agreement (PSA) and said that currently there are on-going discussions with over five interested parties. 33 minutes ago

John Menzies renews contract with the Telegraph

John Menzies has renegotiated the terms of its contract with the Telegraph Media Group for the distribution of its major UK newspaper titles in the UK and Ireland. 48 minutes ago

Bloomsbury lifts dividend after e-book success

Shares of publishing house Bloomsbury Publishing went through the roof as investors cheered its dividend hike following a surge in e-book sales. 54 minutes ago

London open: Markets hold on to 12-year highs

Markets were trading within a narrow range on Tuesday morning after finishing at 12-year highs the day before, as traders consider how much further the impressive year-to-date rally has to go. 1 hour ago

Market overview: Goldman Sachs ups Capita's price target

0907: Commenting on this morning's announcement from Capita Jefferies highlights that the "substantial" O2 contract win compensates for the disappointing news that Capita missed out on the NS&I bid yesterday. However, they add that "the short term corollary to large contract wins is often margin pressure as they are mobilised and we think margin guidance could drift by 10-20 basis points. We believe this could limit estimated fiscal year 2013 consensus earnings per share (EPS) upgrades." As an aside, the broker also says that a decision by the MET Police to outsource back-office operations to private service providers - as mooted by Monday's FT - could potentially open up a 2bn pound market opportunity. Goldman Sachs has in parallel raised its target price on shares of Capita from 1140p to 1175p. 1 hour ago

Galliford Try wins quartet of regional deals

Galliford Try has won three major construction contracts in the South East of England and one in Manchester worth more than 60 million pounds. 1 hour ago

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Traders' views

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.

Has the dollar rallied too far, too quickly?

By Ishaq Siddiqi

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.)

Will the yen fall again?

By Zoe Fiddes

The depreciation of the Japanese yen has been an ongoing process for many months now, and recent developments have contributed to its continued decline. However, upcoming data might change the direction upwards.

Japan’s currency is once more weakening compared to the US dollar. 

Bad news baked into the mining sector

By Brenda Kelly

Despite the fact that it’s only mid- May, the FTSE100 looks set to record a new high for the 12th consecutive month.

Compared to the likes of the Dow, the Dax and the S&P500, the FTSE being quite heavily weighted with the financial and mining sector has dragged itsheels in re-acquiring a record high level. Perhaps it’s the mining sector that is serving as a drag which since February has seen a total decline of almost 25%.

A bullet-point guide to fine wine investing

By Oliver Haill

The fine wine market is expected to continue its recent resurgence in 2013 and, if you haven’t thought about investing in this asset class before there are increasingly strong reasons for certain types of investor.

Traders and other high-frequency type traders need read no further, this is for long-term investors. It can be traded with spread betting.

Because there is a limited supply of top wine and high demand from around the globe that usually exceeds supply this generally keeps prices up over the long term - but like some illiquid shares, in the short term prices can remain unmoved for a while. But unlike shares, many buyers don't just buy for investment; they happily and rapidly drink up their bottles which reduces the world stocks.

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ETX Capital Daily Market Bite, 20.05.13: European Stocks Up A Touch But Gold Slides

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