Spreadex Market Update
Asian shares respond to bullish Euro/U.S. session
Initial jobless claims dropped for the first time in three weeks, falling 20,000 to 331,000 in the period ending February 1st. The Labor Department may report today that U.S. nonfarm payrolls grew by 180,000 last month after a 74,000 gain in December. For many investors who have been expecting the developed economies, especially the United States, to lead the global economy this year, solid evidence of strong U.S. job growth is vital to maintain conviction. Additionally, earnings from Walt Disney Co. to Akamai Technologies Inc. surpassed estimates.
Relative calm in vulnerable emerging markets over recent days also helped to ease worries some emerging economies might suffer harsh downturns if capital flight continues. Battered currencies such as the Turkish lira and the South African rand are trading off their recent lows.
The euro held near a one-week high against the dollar after European Central Bank President Mario Draghi said on Thursday that the euro zone was not plagued by deflation. He did, however, caution that the currency bloc's economy remained skewed to the downside and put markets on alert for a possible rate move in March, acknowledging that emerging-market turbulence could hit the euro zone.
Risers:
Proteome Sciences +12.93%
Shares in Proteome Sciences are up over 12% this morning after the protein and peptide specialist revealed they expect full year revenue to be substantially higher than last year. The company also reported on its interest in biomarker services, saying: "We are pleased to announce that we have signed the term sheet for a biomarker services contract to process a large cohort of patient samples from which we aim to develop a companion diagnostic".
Greka Drilling +24.09%
Greka Drilling has announced they know of no reason why its share price has recently dropped. In the statement, the gas field drilling company said they have had a strong start to 2014, winning various contracts and also ‘de-risked’ the company by increasing their geographical spread throughout India. The company summed this up by saying: “As such, the company sees no reason for the decline of the share price given the visibility of increased revenues for 2014."
Fallers:
Shire -0.81%
Shire has today abandoned its research on its hyperactivity drug, Vyvanse, to see whether it could be used to deal with depression. This comes after the company revealed two of its trials failed to show the drug had any effect in treating depression. Commenting on the drug, Chief Executive Flemming Ornskov has said: "While this news in major depressive disorder is disappointing for patients and Shire, we will later in the year be filing with the FDA [U.S. Food & Drug Administration] for a new indication for Vyvanse in binge eating disorder in adults".
Trinity Exploration & Production PLC -10.00%
Trinity Exploration & Production PLC has announced its 70% owned El Dorado well is set to be abandoned. The company has made this decision after drilling 6174 feet found non-commercial production levels.
Auhua Clean Energy -3.61%
Shares in Auhua Clean Energy are down today despite the company revealing it expects a 16.4% increase in full year revenue. Full year results are set to be announced around the end of April 2014.It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
