Archive for August, 2004

FSA goes on the offensive with spread betting firms

August 25, 2004guidfarr No Comments »

Tweet Spread betting companies have been warned by the Financial Services Authority* (FSA) to clean up their act to protect investors, or face heavy fines in the future. In a letter to the industry, the FSA criticised firms for luring customers with hard-hitting promotions while failing to make the potential risks of spread betting* clear. […]

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Betters leave nothing to chance

August 21, 2004guidfarr No Comments »

Tweet It’s that time of the year when Shares magazine runs its annual City beauty poll. In the spread betting category Deal4free is taking the defence of its title so seriously that it’s sent 2,000 of the questionnaires to its customers. Is it so desperate to retain its crown? “We don’t believe we’ve done anything […]

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Taking off at Heathrow.(City)

August 20, 2004guidfarr No Comments »

Tweet WITH inspired timing, spread betting firm ETX Capital is launching a temperature trading game. The website has a spread for the following day’s temperature at Heathrow Airport, and you can buy or sell it (free). “If you think you can beat the weather forecasters, why not give it a go?” says head of trading […]

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Nestle scares the fizz out of Cadbury’s

August 18, 2004guidfarr No Comments »

Tweet OODS giant Nestle has shaken the market with its disappointing first-half profits. Blaming poor weather for softer ice cream sales, shares traded lower by more than 4% as the news caught traders by surprise. And spread-betters were quick to react. It was enough to bring an end to the last few days of Footise […]

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Punters go bottom-fishing in FTSE and DOW

August 16, 2004guidfarr No Comments »

Tweet Spreadbetting traders are positioning themselves for a rebound in the main British and American stock indices, on the view that they have now drifted down to the bottom of trading ranges. Bookmakers said punters were also holding onto big long positions in the banks, in the hope of further bid action for Abbey National […]

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Spread bets forecast drop in share price

August 14, 2004guidfarr No Comments »

Tweet UK investors may be barred from Google’s flotation but evidence from the spread-betting markets suggests the internet search engine’s share price will fall after it comes to market. Cantor Index has been offering investors a chance to play on the flotation for the past month through a spread-betting “grey” market. Yesterday the spread on […]

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FSA to pay Plumber’s appeal costs

August 5, 2004guidfarr No Comments »

Tweet The Lord Chancellor’s Department and the Financial Services Authority must meet Paul “the Plumber” Davidson’s legal costs incurred after his appeal against a £750,000 fine for market abuse was aborted amid questions over the impartiality of the appeal tribunal. All four members of a tribunal hearing Mr Davidson’s case withdrew from proceedings six weeks […]

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