Spread Betting News Week - a weekly round up of the financial headlines.
Spread Betting News Week
A weekly look at what the papers said, supplied and sponsored by paddypowertrader.
Market Review 5 May 08
There wasn’t much excitement in the weekend press ahead of this week’s interest rate decisions in Europe and the UK. The general feeling was that there will be no change in either rate. However, the Sunday Times reflects the tight vote of its pretend Monetary Policy Committee, which voted 5-4 for no change.
Barclays is under growing pressure to explain its capital raising strategy. The bank’s capital ratios mean that it will have to raise money; the question is whether it will go cap in hand to its largest sovereign wealth fund shareholders, rather than launch a discounted rights issue. In contrast, the Scotland on Sunday reports that Lloyds TSB, who report on Tuesday, have a healthier balance sheet and are in no need of a rights issue.
The Independent reports on a kick up the backside for New Star; the investment management company could potentially lose £1.7 billion of assets if performance doesn’t improve. The Family Investments Company is said to be getting itchy feet and has looked at the possibility of moving its funds.
The Sunday Telegraph reveals Wal-Mart as the sneaky whistle-blower behind the investigation into price fixing of supermarket goods. Wiley Wal-Mart has spilled the beans on its competitors whilst guaranteeing immunity from any fines for its Asda stores.
The bidding deadline for British Energy is fast approaching, and the Scotland on Sunday reckons Gaz de France is back in the race. The paper also expects a few late contenders from the US to pitch up against the likes of EDF, RWE and Centrica. The Sunday Times reveals a tie-up between Centrica and EDF to make an £11 billion bid, though both sides are keeping their options open.
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'Spread Betting News Week' by paddypowertrader.com, updated 05-May-08
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Spread Betting News Week, updated 05-May-08
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Spread Trading News: Oil barons out there might be interested in David Smiths piece in the Sunday Times. He disputes the *peak oil* theory, arguing that lower levels of production now is a lagged response to a much lower oil price and that we are more likely to have passed...read article. Spread Trading News w/c 10 Dec, updated 10-Dec-07
Spread Trading News: The Scotland on Sunday expects HBOS (referred to as the Bank of Scotland) to please analysts with lower sub-prime write downs than previously expected. But it quotes analysts as being...read article. Spread Trading News w/c 3 Dec, updated 04-Dec-07
Spread Trading News: Unsurprisingly there was a strong focus on the credit crunch this weekend; some articles concentrated on the big picture with the Telegraph warning that the Eurozone is unlikely to escape the effects of the US credit crunch, but that the UK would be wise not to take too much pleasure from this...read article. Spread Trading News w/c 26 Nov, updated 26-Nov-07
Spread Trading News: The Observer highlights the nervousness surrounding the forthcoming trading statement from Alliance and Leicester. The bank, whose share price has fallen 40% in the past 3 months, is thought to have £10 billion of funding due for renewal in the next 3 months and between £5 - 600 million of *toxic loans* that need to be re-valued. The fact that the bank has not...read article. Spread Trading News w/c 19 Nov, updated 19-Nov-07
Spread Trading News: The Sunday Telegraph understands that Royal Bank of Scotlands chief executive, Sir Fred Goodwin, has been informally approached by Citigroup in their search for a new boss. Royal Bank of Scotland is due to issue its trading statement on December 6th, but an impatient market may...read article. Spread Trading News w/c 12 Nov, updated 12-Nov-07
Spread Trading News: Plenty of rainforests dedicated to the banking crisis this week; The Telegraph expects HSBC to lead the disclosures, owning up to a further $1 billion of bad debts from its US mortgage business. Barclays is under pressure to bring forward its trading...read article. Spread Trading News w/c 5 Nov, updated 05-Nov-07
Spread Trading News: The Observer reports on difficulties in the Sainsbury bid saga. With Thursdays deadline looming there is apparently opposition in Qatar to the granting of the additional £500m needed to secure the takeover, though the paper still expects a deal to be...read article. Spread Trading News w/c 29 Oct, updated 29-Oct-07
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Spread Trading News: Once again Northern Rock features prominently in the press. The Sunday Telegraph reports that the three submissions for the bank offer virtually nothing to shareholders. In a separate article the same paper questions whether the Virgin...read article.
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