Seasons Greetings from 360investgroup

Seasons Greetings from 360investgroup

Here’s wishing you a Merry Christmas. Next year we will have even more exciting opportunities for our clients.

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Market Snaphot 13th December 2010

Market News and Views

The FTSE 100 is called to open higher this morning helped by a positive end on Wall Street and gains in Asia. Overnight we had domestic data showing that house prices fell by 3% on the month according to Righmove and were just 0.4% ahead on a year ago. In addition, the BRC reported that most UK retailers expect this year's christmas sales to at least match 2009's figures. Later in the session investors will also have PPI data to digest. 

Today's Company announcements

Reckitt Benckiser Acquisition. It is to acquire India's Paras Pharmaceuticals for £460m which will be financed from existing facilities. Paras is a privately-owned company with a portfolio of leading Indian over-the-counter health and personal care brands.

De La Rue Chief Executive Appointment. The company has appointed Tim Cobbold with effect from 1 January 2011 as Chief Executive who was previously at Chloride Group.

Markets Summary	Previous	Change
FTSE 100	5812.95	4.99
FTSE 250	11280.96	17.58
Dax	7006.17	42.01
Dow Jones	11410.32	40.26
Nasdaq	2637.54	20.87
S&P	1240.40	7.40
Hang Seng	23378.28	215.37
Nikkei	10293.89	81.94

Commodities Summary	Previous	Change
Oil	91.36	0.74
Gold	1388.80	8.47
Silver	28.90	0.44

Currency Summary	Previous	Change
£/$	1.5789	-0.0011
€/$	1.3201	0.0003
$/¥	84.12	0.1300
£/€	1.1952	-0.0010

Time	Country	Indicator	Median	Previous
9:30	UK	PPI Input m/m	0.7%	2.1%

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Market Snapshot 8th December

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Market Snapshot 7th December

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Markets Snapshot 6th December

Market Snapshot 6th December 360investgroup

Market News and Views

The FTSE 100 is called to open higher this morning, recovering some of the previous session's falls in tandem with modest gains overnight in Asia after Wall Street turned higher late on Friday. Federal Reserve chairman Ben Bernanke said the central bank could end up buying more than $600bn in U.S.government bonds it has committed to purchase if the economy failed to respond or unemployment stayed too high. Asian equities, edged higher on Monday, responding positively to U.S. moves but paused slightly after reaching three-week highs in the previous session.   

Today's Company announcements

De La Rue confirmed today it' recieved a highly preliminary and opportunistic approach' from another company. "There is no certianty this highly preliminary approach will lead to an offer. A further announcment will be made as and when appropriate" it said.  The confirmation comes after Sky News reported late Sunday that it rejected a £750m approach from French company Oberthur Technologies. The all cash offer was made in the past few weeks, Sky said on a reporters blog. It was rebuffed as Da La Rue thought the offer undervalues the comany.

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London Weather 2nd December

Our Spanish office is enjoying the sun - 17 degrees in Marbella, we are not so fortunate!!

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Todays Market Snapshot 2nd December 2010

360investgroup Market Snapshot

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Todays markets 1st December

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Todays market - 30th November

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More Market News and Views 29th November

An Alternative view of the Markets

Market News and Views

The FTSE 100 is called to open higher this morning helped by the Irish 85bn euro deal with the European Union although concerns remain over others in the euro zone such as Portugal and Spain. The Korean situation is another ongoing factor the markets will have to contend with. Overnight we had domestic data showing that house prices fell 0.8% on the month and were 1.1% lower on the year, the largest annual decline in nearly a year according to Hometrack. A separate survey from the CBI also reported a surprise fall in business volumes by consumer companies in the 3 months to November as Britons cut back on leisure and other discretionary spending. Later in the session we will have the Autumn Forecast Statement from the Office for Budget Responsibility.

Today's Company announcements

BAE Systems Acquisition. It is paying AUD$24m to acquire stratsec.net Pty Ltd, an information security company. The deal is conditional amongst other things, on regulatory approval and is expected to close in Q4 2010.

BP Disposal. It has agreed to sell its interests in Pan American Energy, an Argentina-based oil and gas company to Bridas Corporation for $7.06bn in cash for BP's 60% interest. The deal is expected to be completed in 2011 and is part of BP's plan to make asset divestments of up to $30bn by the end of 2011.

Markets Summary	Previous	Change
FTSE 100	5668.70	-30.23
FTSE 250	10809.43	-25.61
Dax	6848.98	-30.68
Dow Jones	11092.00	-95.28
Nasdaq	2534.56	-8.56
S&P	1189.40	-8.95
Hang Seng	23047.30	170.05
Nikkei	10125.99	86.43

Commodities Summary	Previous	Change
Oil	86.10	0.34
Gold	1362.64	5.56
Silver	26.78	0.13

Currency Summary	Previous	Change
£/$	1.5620	0.0025
€/$	1.3244	-0.0037
$/¥	84.05	0.0250
£/€	1.1788	0.0014

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Exchange rates 29th November

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Todays Markets 29th November

                                                                        Ones to watch......

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Today's headlines 26th November

Today's headlines

*ICE ECX may amend 2013 CER contract over EC curbs
*EC offset proposals spark CER sell-off
*Meth panel probe could hit pre-2013 CER supply
*Swiss eye more offset purchases
*Market slams January 2013 start date for EC ban
*EC seeks ban of HFC 23, adipic acid offsets from Jan 2013
*Swedish agency to buy post-2012 CERs
*NZUs edge upwards
*Panel in support of HFC 23 issuance methodology revision: Reuters

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Mitsubishi and Baosteel Group carbon credits

Japan’s Mitsubishi and China’s Baosteel Group will cooperate on generating carbon credits.

Mitsubishi, Japan’s biggest trading house, and Baosteel, a major Chinese steelmaker, have agreed to form a strategic environmental alliance, a Mitsubishi spokesman confirmed to Point Carbon News on Wednesday.

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Hungary fossil-based power up 11%, Slovakia down 7%

CO2 emitting power generation soared in Hungary, but plunged in Slovakia in the first nine months.

Fossil-fuel based electricity production rose 11 per cent to 12,978 GWh in Hungary in the first nine months of the year, according to preliminary government data.
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EUAs finish week steady under €15

EUAs ended the week little changed as industrial selling kept prices below €15, traders said.

EU allowances for December delivery, trading on ICE ECX, finished at €14.93, a penny below Thursday’s settlement price but 3 cents above last Friday’s close.

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Todays Market News and Views

Market News and Views

The FTSE 100 is called to open lower this morning as investors wait for news about Ireland's debt situation and its potential impact on the euro zone as ongoing concerns that the Chinese will tighten monetary policy continue to fester. The market will have domestic economic data and US figures later in the session to focus on (see below) which includes the Minutes of the Bank of England MPC which may provide some direction on UK interest rates. Ex-dvidend factors will take off over 10 points from the FTSE 100 this morning.

Today's Company announcements

Centrica IMS reports that it continued to perform strongly in Q3 and overall expects forecast operating profits to be slightly ahead of current market expectations with EPS in line with current estimates.

Barratt Developments IMS notes a 9% rise in total average selling prices for the financial year to date and said whilst the autumn selling season has been weaker than anticipated, its encouraging performance on price is expected to drive margin growth for the year.

Northern Foods Propsed Merger. Announces recommended merger with Greencore with the combined group to be called Essenta Foods. Northern and Greencore shareholders to hold 50% each of the merged company and it expects cost synergies of £40m pa to be realised within 3 years. The merger is expected to complete during the Q2 of 2011.
ICAP Interim Results saw a 4% rise in net profit to £98m on the back of a better performance in its electronic broking business on revenue ahead 9% at £867m. It added that the 'current range of analysts forecasts for ICAP's profits are reasonable'.
Experian Interim Results saw a 10% fall in PBT with revenues increasing 8% and the dividend rising 29%. It added that trends were improving across all regions and was targeting a modest improvement in its full year EBIT margin

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Ireland's Cowen to Weigh EU Steps to Shore Up Banking System

Ireland signaled a willingness to weigh European Union measures to aid its banks, potentially abandoning a go-it-alone defense to prevent a resurgent debt crisis from destabilizing the euro.
With European Central Bank officials urging Ireland to set aside national pride and tap the 750 billion-euro ($1 trillion) fund created in May, Prime Minister Brian Cowen put aid for banks on the agenda of a meeting of euro finance ministers today.

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original source of information - Irish Times & Bloomberg

Market update -16 November 2010

Market update (AM): FTSE hit as Asian markets finish lower.

Listed hedge fund Man Group was the biggest faller in early trading, with share price dropping by 4.4 per cent to 280.9p.

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