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Euro falls to multi year lows after ECB action

Jan 23, 2015 at 12:38 pm in General Trading by contrarianuk · Leave a Comment »

The European Central Banks decisive action to combat deflation in the eurozone with a heavy dose of quantitative easing has left the euro looking rather sick.

Afren shareholders wait with baited breath for bid news

Jan 22, 2015 at 12:19 pm in General Trading by contrarianuk · Leave a Comment »

After peaking last week at 35p, shares in Nigeria focused Afren have had a tough time over the last few days, currently trading at 21p. Reports by Sky news later confirmed by an RNS at 6.30pm on Monday that it was working with Morgan Stanley on a possible financial restructuring…

Fallout from Swiss currency decision continues

at 11:38 am in Market Commentary by contrarianuk · Leave a Comment »

After last week’s dramatic decision by the Swiss Central Bank to remove the ceiling on the swiss franc against the euro the repercussions for many FX brokerages are ongoing. Some brokers claim that they only act as an intermediary taking positions made by clients as opposed to acting as a counterparty.

China misses 2014 growth target as IMF cuts global forecasts for 2015

Jan 20, 2015 at 3:12 pm in Market Commentary by contrarianuk · Leave a Comment »

The eagerly anticipated quarter four 2014 GDP data for China was published earlier today and it painted a disappointing picture though broadly ahead of analyst expectations.

Forex traders still cursing Swiss Central Bank

Jan 19, 2015 at 3:07 pm in Market Commentary by contrarianuk · Leave a Comment »

Last Thursday’s surprise move by the Swiss Central Bank to remove the currency ceiling against the euro had dramatic implications and hit many Foreign Exchange brokers hard. T

Chinese stocks drop sharply as regulator cracks down

at 11:36 am in Market Commentary by contrarianuk · Leave a Comment »

Chinese shares had a record 7.7% drop today after an unprecedented 53% gain in 2014 after financial regulators finally clamped down on speculators buying shares on margin. The Shanghai Composite Index dropped 260 points to close at 3117, the largest fall since June 2008 after the index hit a 65 month high on Friday. Prior to today’s losses, the index was up 4.4% for the month to date with financials dropping 9.6%, with all 14 banking stocks down by their maximum  [read more →]

Afren hots up as Seplat refinances debt facilities

Jan 16, 2015 at 10:54 am in General Trading by contrarianuk · Leave a Comment »

Nigeria focused Afren is having a hot couple of days after details of a refinancing emerged from Seplat yesterday afternoon.

FTSE volatility high as commodity prices ebb and flow

Jan 15, 2015 at 10:52 am in General Trading by contrarianuk · Leave a Comment »

The FTSE 100 is having another roller coaster day as an initial surge on the back of the 150 point drop yesterday faded as once again Brent Crude fell back 3% to $48.38.

Oil under more pressure

Jan 13, 2015 at 10:09 am in General Trading by contrarianuk · Leave a Comment »

Brent Crude is down yet another 3% to just shy of $46 a barrel as the selling pressure on futures appears relentless. A new six year low.

Board changes cause surge up for Quindell yet again

Jan 12, 2015 at 10:28 am in AIM by contrarianuk · Leave a Comment »

After a 70% plus increase in the Quindell share price last week, the shares are up another 29% to 108p today after announcing some crucial board changes and an update on its cash position as well as a status update on the PwC review.