Wed 19th Jun 13, 11:57
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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Ahead of the Federal Reserve's monetary policy meeting, the markets are positioning themselves over what could be the first indications of a 'tapering' of quantitative easing (QE), according to some analysts. 28 minutes ago
JPMorgan Cazenove has cut its recommendation for insurance firm Lancashire Holdings from 'overweight' to 'neutral' given its premium multiple ahead of hurricane season as well as a full valuation. 24 minutes ago
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. 1 hour ago
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. 1 hour ago
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. 2 hours ago
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. 2 hours ago
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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.
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.
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.
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.
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.
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.