FTSE falls - down 46 due to "lacklustre DOW"
The FTSE fell again weighed down by just about everything. Asian markets fell and the FTSE was up yesterday so maybe we shouldn't expect too much.
According to one pundit shares opened lower in London because of the "lacklustre performance on Wall Street" i.e. it hit an all-time high. They do make you smile sometimes! How much did he get paid to write that?
Mining stocks, of which there are a lot on the FTSE, were among the main losers due to the overnight sell-off in Asia, weaker metal prices and profit taking. The Chinese are apparently off on their hols for a week !
My recent favourite SR Pharma (SPA) keeps ticking up on expectations that a large pharmaceuticals firm will be taking a stake. The rumour now is that it will be in the next 1 - 2 months, which is slightly longer than I expected, but it keeps ticking up so I'll keep hanging on.
The guy from City Index was on CNBC and he recommended YELL as a long-term buy. YELL plummeted over 20% two days ago on bad figures from its US business. He expects it to recover although he did say it may fall a bit further first (I think that's called hedging your bets). It's down again today at 480p, one to watch.
In Saudia Arabia they have just arrested 172 terrorist militants, and seized a load of money. Some of the militants had been training as pilots and there were plans to attack oil rigs (allegedly - I don't want to be sued by our terrorist friends).
DOW futures have sold off on weaker than expected GDP figures at 1.3% in Q1 against a consensus 1.8%. The chain deflator -- a key inflation measure -- ticked higher to 4.0% against consensus 3.2%. Stock reaction has been negative
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