Good morning traders!

In Asia today, the Hang Seng ended the morning down 148.76 points at 16,327.05, while the Nikkei was recently down 159.32 points at 17,258.81.

Oil eased a tad with New York's main contract, light sweet crude for delivery in May, down 8 cents to $68.90 a barrel from its close of $68.98 in the US overnight.

I guess the big story of the day will be NASDAQ and the LSE.... Maybe it will give the market a general push....

Happy trading!

G.

Silva... if you are a complete novice to spreadbetting.. I would suggest that you keep your bets V small! buy on the rumour and sell on the fact is what a lot of trading is all about and it is one of the hardest things to do, so I only go on the chart! As far as CNA is concerned... she closed bang on a support level and I would be wary now of any fall below this level as it could be a swift fall to 270

SM

Thanks Supermum.... Centrica is not one of my interests....but the shares are quick out of the blocks this morning... ;-)

Morning all.

Midday Market Summary

another one for the "UPS"

GPC 1.8 - 2p
First day bouncing had a large drop after the placing at 1.25p last week

Selected for "UPS" this morning

UPS (Added by Master RSI on Wed 12 Apr 11:38 am)
GMA mid 11.5p
As Gold prices are reaching new highs lately, this is a share with huge potential in the not too far future.
Prospects
GMA won the denationalization tender for a huge tract of gold bearing prospect in the Sahara, called the Tirek/Amesmessa gold project, this represents 60 km of strike length, which means the gold vein lode is 60km long
Using US$440/oz for free-market gold and a 10% discount rate, of US$112M. this equates to cash flow for GMA of approximately 3.3p per share per annum.
with curret market cap of 30M the mine at current valuations on a prospective cashflow of less than 3. For a junior mine, a 9 or 10 multiple seems more adecuate
Latest news
We calculate that the project will generate around US$29M per annum in free cash flows under our 'Long-term Case', which equates to cash flow for GMA of approximately 3.3p per share per annum
we expect the mine life to be at least 10 years, with a mixture of shallow open pits and underground mining supplying high-grade ore to the plant and producing over 100koz of gold per annum
Link ... http://www.gmaresources.plc.uk/Announcements.html#24may

       LUNCH TIME FUN

KYS 10.75 - 11p +0.675p

drill report come out this afternoon

3 v 1 on the L2, and now able to buy at 11.1p middle price, maybe is because was marked up with the news

yesterday price was 10-11p

End-of-day Market Summary

       JOKE OF THE DAY

A woman was standing before the bedroom mirror,
admiring herself in her expensive new outfit.

She posed this way and that. Her husband,
looking with disinterest, remarked:
"Your bum is the size of a 3-burner barbeque!"

Later that evening, tucked up cozy in bed,
he leant over, tapped her on the shoulder,
and asked hopefully; "How about it?"

She replied "It's hardly worth lighting the Barby
for half a sausage now is it?!!"