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You are browsing the archive for 2014 July.

The end of the road for Shire as an independent pharmaceutical company

Jul 18, 2014 at 10:52 am in General Trading by contrarianuk · Leave a Comment »

It’s the end of the road for FTSE 100 listed Shire Pharmaceuticals as an independent company with U.S. drug maker AbbVie’s £32 billion takeover being agreed today.

Kozel decides not to pursue Exec Director role in board room shake up

Jul 17, 2014 at 10:32 am in General Trading by contrarianuk · Leave a Comment »

Gulf Keystone Petroleum have just announced, “Gulf Keystone Petroleum Limited (“Gulf Keystone” or the “Company”) announces that Todd Kozel has decided to stand down from the Board of Directors of the Company and not to accept the previously announced role of Executive Director upon retiring as Chief Executive Officer.

Positive sentiment on Quindell quickly disappears

at 10:12 am in AIM by contrarianuk · Leave a Comment »

Quindell’s shares rose strongly on Monday after a trading update reassured investors that a further cash call would not be necessary this year and showing a strong rise in revenues. After rising as high as 245p on this news, the shares are back at 194p after a series of negative articles

More bad news for Tullow oil after tax decision

at 9:45 am in General Trading by contrarianuk · Leave a Comment »

African focused oil explorer and FTSE 100 constituent, Tullow oil, isn’t having much luck recently and as a result its shares are languishing at £7.69, just over their 52 week low.

Chinese second quarter GDP comes in at 7.5%

Jul 16, 2014 at 11:10 am in Market Commentary by contrarianuk · Leave a Comment »

Global mining companies responded positively this morning to the news that China’s economy grew by 7.5% in the second quarter of 2014, in line with the full year forecast given by the Chinese government and ahead of the first quarter and consensus estimates of a 7.4% growth.

Gold drifts below key $1300 an ounce level

Jul 15, 2014 at 5:19 pm in Market Commentary by contrarianuk · Leave a Comment »

After rallying in the last couple of months from around the $1240 a troy ounce level in early June, gold has been under pressure this week, dropping over $30 or 2.3% on Monday as speculators took the yellow metal off the table in the face of fears about the demand for physical gold in Asian markets and whether central banks will continue buying after adding around 180 tonnes in the period between January and May.

Quindell trading update appears to answer critics

Jul 14, 2014 at 9:48 am in AIM by contrarianuk · Leave a Comment »

Insurance services group, Quindell (QPP), seems to have put the shorters including Gotham City on the back foot this morning with the shares rising as much as 25% as it reassured investors with a trading update.

Big changes in store for global tobacco players

Jul 11, 2014 at 3:12 pm in General Trading by contrarianuk · Leave a Comment »

After several months of talks it seems that the deal for US tobacco giant Reynolds to buy fellow tobacco company Lorillard is on the verge of going through in a $56 billion combination. Reynolds is the number two player in the US, whilst Lorillard is third.

CYNK Technology rises as much as 36,000% in a month but is now suspended from trading

at 2:47 pm in General Trading by contrarianuk · Leave a Comment »

The US Securities and Exchange Commission (SEC) has finally suspended trading in an obscure company called CYNK Technology today. CYNK has risen an astounding 36,000% at one point since mid-June this year on hype and media speculation making it a $6 billion company at its peak share price.

At last a decent excuse for a selloff in the markets as Portuguese banking problems emerge

Jul 10, 2014 at 2:27 pm in Market Commentary by contrarianuk · Leave a Comment »

After the financial turmoil of 2008 and 2009 investors seem to have a short memory when it comes to the financial institutions in the so called PIIGS (Portugal, Ireland, Italy, Greece and Spain) countries. Today the calm has been broken. The markets fell heavily today as one of Portugal’s biggest banks came a cropper with shares in Banco Espírito Santo (BES) dropping heavily…