The supermarket Sainsbury’s recently saw a dip in its share price, offering a rare buying opportunity for spread betters. Thanks to its immense property portfolio, Sainsbury’s is still preferred over competitors like Tesco. Capital CFDs quotes a price of 373.4p-374.0p.
The G20 meeting in South Korea is now underway and the world is hoping for some sort of consensus about how to tackle currency wars. Systematic change is rarely achieved overnight, however, so the market's demand for safe haven assets is likely to continue for some time yet. Investor’s saferooms have been gold lined for a while now, but as the metal gets more expensive, many have started looking to silver. The price had rallied by more than 50 per cent over the last three months but dropped some due to profit taking earlier in the week. Any suggestions of further quantitative easing could well push the price back up again. IG Index offers a spread on daily spot silver of $27.42-$27.45.
Royal Bank of Scotland dived some 10 per cent after breaking disappointing news about earnings last Friday. Worryingly for RBS, the shares are below all the major moving averages, and also below a significant trendline support that had been in place since January. The bank could well slide a further 10 per cent to the next big support at 39p. Spread Co offers a spread on the rolling daily price of 43.60p-43.68p.
The mining company Randgold reported bumper results on Tuesday, selling $116.3m of gold and doubling their operating profits to $30.1m. With the commodities rally looking set to continue, and the shares in a rising uptrend since March, Randgold looks like an excellent buy. A reasonable target to aim for might be the eight month price channel top of 6,500p. Spreadex quotes a rolling spread of Randgold Resources of 6,153.8p-6,171.2p.
Nobody wants to catch the proverbial falling knife but Alstom certainly looks like it might be about to hit the ground. The power generator has lost 31 per cent in the year to date, including 7 per cent in the last week. The fundamentals are strong however, with the firm holding a substantial order book and benefiting from resilient margins in the maintenance and service divisions. Capital Spreads offers a spread on the rolling daily price of Alstom of 34.18p-34.33p.
After seeing the third quarter results, it looks like wise traders should sell Unicredit. The Italian bank has suffered from lower than expected investment income and core revenues are still suffering in the low interest environment. Good results are not expected until 2013High taxes in particular have made for disappointing results. IG Index offers a spread of 173.53p-173.87p.