Escalating Project Costs Send Essar Energy to Bottom of FTSE Spreads
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Escalating Project Costs Send Essar Energy to Bottom of FTSE Spreads

Escalating Project Costs Send Essar Energy to Bottom of FTSE Spreads


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UK Shares News - 17 Nov 11

» UK markets closed on a mixed note yesterday, with the FTSE 100 index ending lower, after Bank of England expressed concerns over UK’s economic outlook.

» Interdealer broker, ICAP lost 4.7%, as its Chief Executive, Michael Spencer, warned of falling trading-volumes in October and November.

» Publisher, Reed Elsevier lost 2.4%, following a dismal trading update.

» Essar Energy, the top laggard on the FTSE 100 index, extended its losses, declining 5.3%, on the back of project delays and concerns over escalating costs.

» Sainsbury, Marks & Spencer, Vodafone and British Sky Broadcasting slid between 1.6% and 4.9%, as they went ex-dividend.

» Michael Page, the top gainer on the FTSE 250 index, jumped 5.8%, following a bullish note on the staffing sector's prospects by HSBC.

» Cairn Energy added 2.4%, after Societe Generale initiated coverage on the stock with a “Buy” rating.

» FTSE 100 edged down 0.2% to 5,509.0. FTSE 250 rose 0.2 % to settle at 10,275.6.



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Spread betting markets on European Shares may also be available through other companies. Notes.


US Shares News - 17 Nov 11

» US markets slid sharply yesterday, after Fitch Ratings warned that contagion from the Europe’s debt crisis would significantly increase large US banks’ risk.

» Retailer, Abercrombie & Fitch, the top decliner on the S&P 500 index, tumbled 13.6%, after its third-quarter earnings missed market expectations.

» Refiners, Valero Energy, HollyFrontier Corp and Marathon Petroleum shed between 9.3% and 11.7%, amid news that the Seaway pipeline would be reversed, increasing costs of crude and narrowing profits for making fuel.

» Wells Fargo, Goldman Sachs and Morgan Stanley lost between 1.4% and 8.0%, amid concerns over their exposure to "stressed European markets".

» Rambus plunged 61.0%, after losing a legal row against Micron Technology.

» DJIA lost 1.6% to close at 11,905.6. NASDAQ declined 1.7% to settle at 2,639.6. S&P 500 retreated 1.7% to end at 1,236.9.



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Spread betting markets on US Shares may also be available through other companies. Notes.


Asian Shares News - 17 Nov 11

» Asian indices spread betting markets are trading mostly lower this morning, after Fitch ratings signalled that European debt crisis poses a “serious risk” to US banks, overshadowing hopes that new governments in Italy and Greece would prevent the spread of sovereign debt crisis.

» In Japan, exporters, Canon, Nissan Motor and Nintendo traded lower, as the yen traded higher against the dollar.

» Sumitomo Mitsui Financial Group declined, tracking losses in its US peers.

» In Hong Kong, exporters, Esprit Holdings and Li & Fung paced losses, as a slowdown in global economy raised concerns about demand outlook.

» Hang Seng Bank and Bank of Communications declined amid concerns over the global economy.

» In South Korea, Hynix Semiconductor gained value, after Rambus lost an antitrust case against the company and Micron Technology.

» Nikkei 225 index is trading 0.2% lower, at 8,449.4. Hang Seng index is trading 0.9 % lower at 18,793.3, while the Kospi index is trading 0.3% higher, at 1,861.0.




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Escalating Project Costs Send Essar Energy to Bottom of FTSE Spreads - edited by ETX Capital, 17 November 2011.


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