Gold is now 60 dollars short of its high and nearing trend support levels. With continuing worries about Irish government debt ratings and the effect of any EU bailout, there could still be space for gold to rise. WorldSpreads offers a $1366–$1366.5 spread.
The outsourcing giant Capita is due to release an interim management statement on Thursday. The company’s share price has shown little divergence from the FTSE over the year to date but with government departments squeezing suppliers for cost savings – and this likely to be an ongoing theme for some time – the question remains as to whether this erosion of margins can be replaced by picking up new contracts elsewhere. Both emerging markets and local governments looking to outsource more operations provide solid growth prospects, so this week’s guidance will be useful. IG Markets is currently quoting a price of 733.5p-734p.
The money broker ICAP reports interim results tomorrow and the recent increase in volatility could well be benefit them. Their share price recently hit a two-year high so further strength might be around the corner. Capital CFDs quotes a price of 476.3p-477.4p.
The oil exploration company, Victoria Oil and Gas, has seen its shares rise in value since last week announcing an update on developments at its flagship Logbaba project in Cameroon. Gas is expected in the first quarter of 2011 and the AIM-listed firm says agreements have already been signed with multi-nationals for delivery from the site. The share price has risen from 4p last Monday to highs of 6.95p yesterday and traders are continuing to buy the stock. Spreadex offers a rolling Victoria Oil and Gas spread of 6.58p–6.67p.