THE majority of European airlines are staging something of a rebound after the recent sell-off, yet EasyJet has really stood out. It posted some decent earnings news earlier in the week and announced – as widely expected – the payment of its first dividend in 2012. Traders have been using the opportunity to sell down their holdings. The influence that any shareholder can have on corporate actions may be a cause for concern. But the company does not seem like it is about to pause for breath before re-testing the year-to-date highs. The current IG Index price is 438.2p-441.1p.
Tullett Prebon’s shares have been hammered since news broke that it was being sued by rival BGC over data usage. It slid 12 per cent but has reached a level that may make it worth a buy. The support from the long-term trend lines around 350p-360p and the 200-day moving average at 353p could help Tullett back towards the 400p level. Spread Co are offering a spread on Tullett Prebon of 356.3p–357.6p.
The FTSE 100 hit its 23.60 per cent Fibonacci retracement level yesterday when it took its July low to this month’s high. This is seen as a key support level and could provide a buying opportunity considering that the market is returning to strength – possibly coinciding with an Ireland bailout. Capital Spreads quotes 5,679.0-5,680.0 for the FTSE 100 index.
With the gold price having taken a beating in the last five days, falling six per cent from its high, the FTSE 100 gold mining company Randgold Resources (RRS) might be worth considering. WorldSpreads is offering a 0.2 per cent spread.
After a big fall in October due to disappointing drilling results, Soco International has found some support around the £3 mark and now sits in the mid-£3 range. Yesterday’s trading update could give further impetus to a share price that has wiped out all its gains from earlier in the year. Capital CFDs quotes a price of 348.3p-349.4p for Soco’s shares.
The dollar has been climbing steadily against the yen since the beginning of the month. The economic data coming from the US shows a recovery which is gathering pace, this trend is unlikely to reverse in the coming few days. Cantor Index offers a spread of ¥83.13-¥83.15.
Palladium has seen a near 65 per cent rise over the last year, outperforming the current darling of the precious metal market, gold. Palladium refiner Johnson Matthey has suggested that he expects a 25 per cent rise since a production deficit may be arising. Spreadex offers a March contract of 655.6p-659.6p.