Trading Update |
06-May-14, 9:18am: Gold Rises After Non-Farms Data on Ukraine ConcernsCrude oil is seeing some weakness this morning ahead of inventories data, with support around $99, whilst gold is approaching resistance at the 55DMA on Ukraine fears. |
06-May-14, 10:59am: With plenty of services data on the agenda, stocks are on the rise this morning. |
07-May-14, 8:55am: European stocks are sliding this morning as Ukraine highlights the potential for war with Russia. |
07-May-14, 8:55am: US Dollar Dips ahead of Yellen SpeechWith Janet Yellen expected to be dovish in a speech later today, the dollar is seeing some weakness against its major counterparts. In addition, the escalating conflict in Eastern Europe is encouraging a cautious outlook and safe haven yen buying. |
07-May-14, 9:15am: The latest technical analysis video looks at US stocks as well as sterling and the euro. NASDAQ 100 Shows Signs of Strain as Earnings Fail to Lift the Mood |
07-May-14, 5:46pm: Saga IPO Grey MarketsA number of spread betting companies are now offering IPO grey markets on Saga: (other firms might also be offering a market). How Does the Saga Grey Market Work? Looking at Financial Spreads, their market is based on the market capitalisation of Saga at the end of the first day of trading. The first day of trading is the first day of unconditional trading, i.e. when Saga officially list on the London Stock Exchange. The market is currently at 315 – 345, where each point represents £10m. Therefore, Financial Spreads are estimating that the Saga market cap, at the end of the first day of trading, will be £3.15 – £3.45bn. That is certainly higher than a number of newspaper reports, which are putting the valuation in the £2.5 – £3bn area. Of course, the good thing about spread betting is that you don’t have to back a market to move higher. You can also short a market, in this case you’d short it at 315, i.e. you’d be spread betting on the market cap to be lower than £3.15bn. |