Archive for February, 2005

Irish betting company to enter British market

February 24, 2005guidfarr No Comments »

Tweet Online betting company SportsSpread plans to enter the lucrative British market and raise up to €3.5 million in new funding. The company, which is backed by the former Irish soccer international Kevin Moran, has received approval from Britain’s Financial Services Authority to begin trading. “This has been a long stated aim of this group […]

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Punters long of Gold, Silver and Oil Stocks

February 21, 2005guidfarr No Comments »

Tweet Commodity fever is continuing to grip spread betting traders, with many people holding large up-bets in gold and silver and others chasing the in-fashion oil exploration stocks. Capital Spreads said that its clients were very long of precious metals at the start of this week, with punters also holding onto smaller long positions in […]

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Industry Update

February 10, 2005guidfarr No Comments »

Tweet The spread betting industry is being closely watched by the Financial Services Authority (FSA) as its appeal to investors soars. Following last December’s £70,000 fine against Cantor Index, spread betting firms are under pressure to ensure their advertising is up to scratch. Cantor was fined because the regulator said it failed to warn consumers […]

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Traders add to their shorts on FTSE ahead of 5000

February 8, 2005guidfarr No Comments »

Tweet The recent upswing in the FTSE100 index to 4950 has caught many spread betting punters on the hop, but undeterred, they are extending short positions in the hope of a setback near the 5000 resistance level. Bookmakers said clients were net short of all the main indices this morning, apart from the Japanese Nikkei, […]

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Promotion of spread betting faces FSA scrutiny

February 5, 2005guidfarr No Comments »

Tweet The Financial Services Authority is scrutinising the spread-betting industry for evidence of misleading promotions and mis-selling. The probe follows the £70,000 fine levied by the FSA last December against Cantor Index, one of the leading spread-betting firms. The watchdog said Cantor had failed to warn consumers adequately about the risks of spread betting in […]

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IFX shares go into reverse as putative takeover proves abortive

February 4, 2005guidfarr No Comments »

Tweet Shares in IFX fell more than 5 per cent to 118½p yesterday as the spread-betting company revealed that talks about a possible bid had failed. The company, which offers online spread-betting and foreign exchange trading, announced on Tuesday that it was in talks with a undisclosed bidder. The Takeover Panel had asked the group […]

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Punters flock to IFX

February 2, 2005guidfarr No Comments »

Tweet IFX Group, Britain’s only listed spread betting group, hit its highest level since April last year yesterday amid talk that it could be a takeover target for a larger rival. Its shares rose 8p to 114p, with some City punters convinced the company – in which Vincent Tchenguiz, the property entrepreneur, has built a […]

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IFX hints at strained dealings with bidder

February 2, 2005guidfarr No Comments »

Tweet IFX, the only London-listed spread betting group, yesterday issued a curt statement confirming it had received a takeover approach from an unnamed potential bidder. The statement was released after the group’s share price continued Monday’s rally, jumping almost 8% in early trading as rumours of an imminent bid strengthened. However, the statement warned the […]

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