Trading Update | |
09-May-14, 9:06am: European shares are trading cautiously this morning as pro-Russian activists suggest that their referedum will go ahead this weekend. |
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09-May-14, 9:06am: Euro Slumps as Draghi Hints at Policy EasingFollowing Mario Draghi’s suggestion that the ECB are ready to act at their June meeting, the euro has tumbled and the European stocks are seeing some gains. |
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09-May-14, 9:10am: Saga Clarify IPO DatesUnconditional trading in Saga will start on 29 May, until then, as mentioned below, a number of firms like Financial Spreads are offering grey markets on the IPO. The grey market is currently priced at 290 – 320. For more details on the Saga IPO also see Saga share offer. |
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12-May-14, 8:41am: European markets are in the green this morning after the latest Ukrainian referendum pointed to a desire for independence. |
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12-May-14, 9:05am: Euro Continues to Slide after Draghi CommentsThe euro is still seeing weakness following the suggestion that the ECB will act at their June meeting, with the dollar also seeing strength. US stocks are also near all-time highs, but crude oil is under pressure. |
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12-May-14, 3:28pm: Saga IPO Grey Market Update Looking at the screenshot of the Financial Spreads prices below, it looks like there’s a little pressure to the downside on the Saga IPO grey market. The chart above is showing the mid point of the market which has only been running since 7 May. After an initial burst of enthusiasm, the market traded higher but dropped on Friday to 280-310, i.e. valuing the firm at £2.80bn to £3.10bn. The drop was probably on the back of the announcement that, although there’s been quite a bit of interest in the IPO, the company may release more shares for the IPO than previously anticipated. |