Spreadex Market Update
Sluggish morning on markets; Bwin booming; Aveva inviting to foreign investors
Bwin remains booming; the continued boost the betting company has received from the attentions of 888 and GVC has helped push the company to near 4 month highs. News that GVC may be teaming with Amaya Gaming to increase its chances of a successful bid provided even more reason for investors to pour into Bwin, which has now almost doubled the gains it had seen immediately after the bell.
Yet Bwin wasn’t the only winner this morning. News that foreigner investors are increasingly interested in information tech company Aveva Group has pushed its stock to an 8 month high, with its current trading price the best since a profit warning last September ate away over a quarter of Aveva’s share value. Those in the know claim that Aveva has some very big admirers, with France’s Schneider Electric, and the USA’s Emerson and GE all eyeing the Cambridge based-company.
Whilst the DAX has spent the morning fluctuating between minor losses and gains, such minimal movements are reflecting an almost comatose Eurozone given the big-swing boasts the German index has laid claim to of late. News that Greece is hoping to reach a deal by the end of May acquired a bitter aftertaste due to the country’s sustained lack of compromise over its so-called ‘red lines’, something that may come back to haunt Greece with a beyond-tense June to come.
The US futures are replicating the limpness of the European markets this morning, with the dollar’s latest rebound scaring investors away from the US markets; interestingly, this rebound failed to stop gold’s gains as the precious metal reached a 3 month high of $1230 per ounce as the day went on. It was a big morning for Netflix; the company crossed $600 for the first time, ensuring a new record high in the process, as news that the company is seeking to take a slice of China’s lucrative pie through a team-up with Wasu Media Holding Co causing investors flock to the video-streaming stock.
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