Crocodile
- 06 Nov 2003 00:04
Premarket Futures |
FTSE +8 |
DAX +12 |
DOW -39 |
S&P -4.5 |
Nasdaq -7.5 |
News: |
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U.S.stock markets ended near where they started the session,
but could do well tomorrow following an after hours quarterly report from
Cisco the No. 1 maker of computer network gear which reported better then
expected profits up over 76%
With US futures being down and large losses in Asia over
night the UK futures do look overvalued at +8
Volumes may be light this morning ahead of the BOE rate
announcement.
Boots revealed an expected dip in half-year profits on
Thursday and said second-half gross profit margin at its main chain would
fall as it cuts more prices. Profits slipped to 265.9 million pounds down
4.9 percent from last year, before Boots sold the Halfords chain. That was
in line with analysts forecasts of 252-273 million pounds for the six months
to the end of September. The dividend was raised to 8.8 pence.
BAA airports operator said it had a pre-tax profit of
312 million pounds near the top end of analysts' forecasts but this was a
fall of 4.3 percent fall for the first 6 months. It continued to forecast
four percent growth in passenger traffic for the year to the end of March.
MyTravel warning that it
expected to report an operating loss for the second half of its financial
year and that trading in the UK had been weaker than expected since it had
issued an update in August.
Big Food Group said that half-year profits more than
doubled from a year ago, helped by a turnaround at its Iceland frozen food
chain. This ws at the middle of analysts forecasts,Telewest said its third-quarter underlying earnings rose 18 percent
and the number of customers increased slightly.
Despite this they posted a loss of 119 million pounds.
McCarthy & Stone builder of retirement homes reported a
forecast-beating 54 percent rise in annual profits on but forecast tougher
trading conditions in the current year.
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Calendar:
United Kingdom |
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United States
(GMT) |
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Europe & World (GMT |
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BAA (I), Big Food Group (I), BG Group
Boots Group (I), London Stock Exchange (I)
Man Group (I), Scottish & Southern Energy (I), Signet (Q3), Sondex (I), Synergy
Healthcare (I), Tate & Lyle (I), Telewest Communications (Q3)
Punch Taverns (F), Sun Alliance Insurance (Q3)FW Thorpe (AGM), West Bromwich Albion (AGM)
BOE interest rate decision
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Sempra Energy Q1, Williams Companies Q3
13:30 Initial Claims
13:30 Productivity-Preliminary |
Aegon NL Q3, Aixtron D Q3
Altana D Q3, BMW D Q3
BNP Paribas F Q3, Degussa D Q3
Deutsche Boerse D Q3, EADS D Q3
FJA D Q3, GPC Biotech D Q3
Karstadt Quelle D, ProSieben Sat1 D Q3
Societe Generale F Q3, Vinci F Q3 |
Melnibone
- 06 Nov 2003 08:57
- 6 of 22
Morning all.
I think Croc's got it right today. Bit of a yawn before rate
announcements then maybe some movement after the US jobless
at 1330.
FTSE at S1 with RBS tracking it.
AVZ still looking sickly.
My BT.A's have gone to sleep, maybe I should join them. :-)
Melnibone
Melnibone
- 06 Nov 2003 09:10
- 7 of 22
AVZ now trying to stay at the 400p support.
If it fails this could get really ugly, I would hate
to be long on this stock at the moment.
RBS at S1. If FTSE gives up S1 I can see RBS dropping
to the 1520/1529 area.
Melnibone
Melnibone
- 06 Nov 2003 09:16
- 8 of 22
Just noticed that FTSE S2 (4265), is the support line
on Croc's trend channel.
If we are at that and get bad news, things could get
interesting.
Melnibone
Melnibone
- 06 Nov 2003 09:48
- 10 of 22
0.25% hike is already factored in the FTSE price.
By bad news I mean something different like US
payroll the wrong side of the expected range.
Ref TATE, poor results are usually factored in before
the official release. If results don't come in worse
than expected then you often get a relief rally as
folks breathe a sigh of relief.
Melnibone.
Melnibone
- 06 Nov 2003 10:16
- 12 of 22
Yes, matters are bumbling along, just depends how much is already
priced in for any more upward movement.
If we don't get any shocks I see no reason for Croc's trend
channel not to remain intact and we slowly grind higher through
the month.
Melnibone
Melnibone
- 06 Nov 2003 12:56
- 16 of 22
Reacted well enough for me.
Used the bounce to take a small profit on my BT.A's.
This was meant to be a position trade but I'm
taking a chance I'll get my position back in these
at a lower level.
Melnibone
Melnibone
- 06 Nov 2003 13:10
- 17 of 22
Check out the FTSE chart at the top of this thread and
click on the 5 Day tab.
Coincidence where the bounce stopped, or what?
Melnibone
Melnibone
- 06 Nov 2003 16:55
- 20 of 22
Resisted the the temptation to buy back my position lower.
Can't understand why the FTSE is up near the week's high
with the US and Asian markets weaker.
Hope to get a pullback tomorrow morning especially as there
will be some nervousness leading up to the US payroll numbers.
These numbers need to be good, not just inline, to push
these markets higher.
If they are weaker it will give the markets the excuse they
are looking for to take some profit off the table.
Will watch the first hour tomorrow morning to see how things
start to pan out.
Good luck all.
Melnibone
zarif
- 06 Nov 2003 17:31
- 22 of 22
The results looked good today and with our rate rise and Us rate on hold -the dow should be up 100 pts (especially when our ftse finished well and hardly shaken by the rate hike)
Any way shorted at open and made a killing.
Got a long open at 9790 daily dow and is bobbing +/-Any ideas on topside /downside today??
rgds
zarif