You are browsing the archive for 2014 October.

Market volatility continues

Oct 16, 2014 at 4:00 pm in Market Commentary by contrarianuk · Leave a Comment »

Its been another rough day in the markets with the FTSE 100 falling as low as 6,070 earlier in the day before bouncing back to finish at 6,202, meaning that the index now yields around 3.5%.

by contrarianuk

Oil shares plummet as crude oil price dives

Oct 15, 2014 at 8:39 am in Market Commentary by contrarianuk · Leave a Comment »

With the price of oil dropping around 25% since and currently trading at $84 a barrel things are bleak for oil related shares. With Opec and notably Saudi Arabia apparently reluctant to cut production and focused on maintaining market share and the International Energy Agency cutting forecasts for global demand…

by contrarianuk

Afren fires CEO and COO after illegal payments

Oct 14, 2014 at 8:39 am in AIM by contrarianuk · Leave a Comment »

Nigeria focused oil and gas producer, Afren has dismissed its chief executive, Osman Shahenshah, and chief operating officer, Shahid Ullah and two associate directors, Iain Wright and Galib Virani for gross misconduct after receiving various unauthorised payments.

by contrarianuk

Market still sceptical on Quindell

Oct 13, 2014 at 1:12 pm in AIM by contrarianuk · Leave a Comment »

Shares in Quindell Plc (QPP) initially rose 7% today after a trading update for the third quarter of 2014 but are currently down 9%. Short seller Gotham city recently released a twitter tweet saying that…

by contrarianuk

Bears take control of equity markets

Oct 12, 2014 at 10:12 am in Market Commentary by contrarianuk · Leave a Comment »

After a benign few months on the global stock markets, it has proved to be the calm before the storm as volatility returned with a vengeance last week and the outlook for the coming week doesn’t look any more settled.

by contrarianuk

Bitcoin price down over 50 percent in 2014

Oct 9, 2014 at 10:37 am in General Trading by contrarianuk · Leave a Comment »

Those looking for a non-conventional investment opportunity or to use a non-traceable, anonymous currency were pretty excited by the bitcoin phenomenon, the digital cryptocurrency which came into existence in 2009.

by contrarianuk

London Mining virtually worthless

Oct 8, 2014 at 10:20 am in AIM by contrarianuk · Leave a Comment »

Beleaguered Sierra Leone based iron ore mining company, London mining, issued a damning RNS this morning sending its shares down over 80% to 0.6p. The killer line was that “the Board believes that there will be little or no value remaining in the equity of the Company and the other listed securities of the Group”.

by contrarianuk

Cairn Energy strikes it lucky in Senegal

Oct 7, 2014 at 8:46 am in General Trading by contrarianuk · Leave a Comment »

Oil and gas explorer, Cairn Energy, hasn’t been having much luck of late. With a tax dispute relating to its remaining interest in Rajasthan focused Cairn India hanging over the company preventing it from selling down its stake any further…

by contrarianuk

Gold stumbles on US employment data

Oct 6, 2014 at 10:58 am in General Trading by contrarianuk · Leave a Comment »

Gold is currently trading at $1,194 an ounce after falling as low as $1,183 in Asian trading as Friday’s strong non-farm payroll number from the US made the metal even less appealing in the face of potential Federal Reserve interest rate hikes.

by contrarianuk

Strong US employment data helps European stocks rebound

Oct 3, 2014 at 1:26 pm in Market Commentary by contrarianuk · Leave a Comment »

US unemployment fell below 6% for the first time since 2008 (a 0.1% drop) with 248,000 jobs created last month compared with expectations of 215-225,000 jobs.

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