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The Traders Thread - Wednesday 2nd July (TRAD)     

Greystone - 01 Jul 2008 21:30

Greystone - 01 Jul 2008 21:30 - 2 of 37

Hello traders!

In the US tonight, the DJIA was up 32.25 points at 11,382.26, while the S&P500
was ahead 4.91 points at 1,284.91 and the Nasdaq Composite 11.99 points
better at 2,304.97.

See you in the morning with the latest.....

G.

Greystone - 02 Jul 2008 06:35 - 3 of 37

Good morning traders!

In Asia today, the Nikkei was recently down 207.34 points at 13,255.86, while the
Hang Seng lost 219.34 points at 21,882.67 in the morning session.

New York's main oil futures contract, light sweet crude for August delivery, was
$1.27 higher at $142.24 a barrel from a record close of $140.97 on Tuesday on the
New York Mercantile Exchange.

Happy trading!

G.

Kyoto - 02 Jul 2008 06:44 - 4 of 37

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

Rivals rallied around Lehman Brothers as rumours of a "fire sale" swirled around the market, forcing the bank's shares to eight-year lows. In the face of continued speculation that Lehman chairman Dick Fuld is negotiating a below-asset sale to any number of potential suitors, leading analysts at rival banks, including Morgan Stanley, supported Lehman's shares by arguing that such a sale was unlikely.
Lehman's rivals come out against fire sale rumours

Three-quarters of pension schemes are now in deficit after 36bn was wiped off the value of the top 200 largest UK privately sponsored pension final salary schemes in June.
Shares gloom leaves pension funds with 30bn deficit

A supply crunch and mounting fears of an Israeli air strike on Iran propelled oil to $143 a barrel at one stage yesterday, prompting warnings from the International Monetary Fund (IMF) of a severe economic crisis in poorer regions. "Some countries are at a tipping point," said Dominique Strauss-Kahn, the IMF's managing-director. "If food prices rise further and oil prices stay the same, some governments will no longer be able to feed their people."
Surge in oil price sparks fears of food crisis

A former IT technician at Body Shop, the ethical retailer, has been fined for market abuse in a rare victory for the Financial Services Authority in its battle against insider dealing. The City regulator said yesterday that it had fined John Shevlin 85,000 after he was found to have gained inside knowlege by snooping on confidential e-mails between executives.
Body Shop 'snoop' John Shevlin fined for insider dealing

Kyoto - 02 Jul 2008 06:45 - 5 of 37

NIKKEI 225AUSTRALIA ASX200SHANGHAIHANG SENG
t?s=%5EN225t?s=%5EAXJOt?s=000001.SSt?s=%5EHSI

Kyoto - 02 Jul 2008 06:48 - 7 of 37

09:30 UK PMI Construction June (consensus 43.1)
10:00 EU Eurozone PPI May (MoM consensus 0.9%, YoY 6.7%)
12:00 US MBA Mortgage Applications
15:00 US Factory Orders May (consensus 0.5%)
15:30 US Crude Oil Inventories (consensus -750K)
15:30 US Gasoline Inventories (consensus 750K)

Kyoto - 02 Jul 2008 06:58 - 9 of 37

LONDON (Thomson IM) - UK bank Barclays Plc. has attracted a large spike in interest from short sellers in the wake of its 4.5 billion pounds cash call, according to figures from Data Explorers.

Analysts said the shorting looked like a 'bear contingent' in the market betting that further writedowns or capital raising would follow.

Data Explorers' assessment shows that some 9.54 percent of Barclays stock was out on loan as of the close of business on Friday, representing a sharp climb from between 6 percent and 7 percent before the announcement.

http://www.moneyam.com/action/news/showArticle?id=3074995

Kyoto - 02 Jul 2008 07:12 - 11 of 37

The Wednesday Press Roundup
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