Spreadex Market Update
Global equities soar by $9.6 trillion in 2013.
After its worst performance in more than 30 years, gold began 2014 on a stronger note recouping some 1.5% of its value last night. The buying spilled over into silver and copper, with dealers talking of Chinese demand for commodities in general.
Meanwhile, focusing on Europe, regional shares have erased gains seen over the last few sessions as investors await manufacturing data from the United States. With British manufacturing data coming in worse than expected, we could see the FTSE 100 trade even lower in the run up to the U.S data. Significantly, Fiat shares have soared throughout the morning after the carmaker agreed to buy the remaining stake in Chrysler Group.
Global equities soared by $9.6 trillion in 2013 as central-bank bond buying helped the U.S. economy gain momentum, while the euro area emerged from recession. European stocks rallied 17 percent in 2013. Their biggest increase since 2009 sent the Stoxx Europe 600 Index to 15.4 times its constituents’ projected earnings, up from 12.7 times at the beginning of 2013.
Risers:
New Trend Lifestyle Group +82.61% New Trend Lifestyle Group has appointed Matthew Pau as a Non-executive director. The group has also revealed today, following a recent disposal, Menora Trading Limited is interested in 3,066,667 ordinary shares representing 3.07% of the issued share capital of the company.
Urals Energy +7.14% Russian oil group, Urals Energy, has today written a letter to shareholders that recommends they vote against all resolutions made by Fire East Corporation. The independent exploration and production company has an Extraordinary General Meeting of the company’s shareholders on Monday 27 January 2014.
Incadea + 3.54% Enterprise software solutions and services company, Incadea, has today said revenue and profit for year ended Dec. 31 are expected to be in line with management expectations. Trading has been strong for the company throughout the last few months of the year with new business wins secured, especially throughout December.
Fallers:
Debenhams -0.92% Department store Debenhams has today announced its Chief Financial Officer is to resign with immediate effect and will leave the company on 7 February 2014. This is further bad news for the group, which operates 240 stores, as it has come just two days after it issued a profit warning following poor festive trading. Shares have pulled back slightly this morning once the market initially reacted to the news.
Ophir Energy -6.79% Upstream oil and gas exploration company, Ophir Energy, has announced today they have concluded drilling operations of its Mlinzi Mbali-1 well and revealed they did not encounter any live hydrocarbons.
Kaliamantan Gold Corporation -23.53% Exploration company, Kaliamantan Gold Corporation, has announced today their joint venture partner Surya Kencaca is withdrawing from the company’s KSK Contract of Work copper project. The company has however said they are ‘optimistic’ they will find a new partner to complete the project in Indonesia.
Frontera Resources Corporation -8.78% Frontera Resources Corporation has agreed a $5m loan that is to be used to support its ongoing work programmes.
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