THE TIPSTER

 
Philip Salter
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OVER the course of September, gold saw its price drop 11 per cent, which was its biggest slump in three years. However, with renewed fears that European leaders have bitten off more than they can chew regarding the debt crisis, we could see traders return to the trusty safe haven. The yellow metal is also trading within a bullish channel which is further reason for potential upside. Capital CFDs quotes Gold Rolling Daily $1,687.6-$1,688.0.

Although the share price of G4S took a hit yesterday morning in light of the rights issue, the downside wasn’t anywhere close to the actual dilution that was being seen. The market may still have a little way to go on the downside once the share actually starts trading ex-rights, it also suggests there’s a degree of confidence that the merger will deliver the promised synergies. IG Markets quotes 226.2p-226.3p.

The half-year earnings of Home Retail release should come under scrutiny from shareholders on Wednesday. That’s if they want a break from licking their wounds after a year of poor results and profit warnings. After recently being thrown into the “least preferred stock” pile at Citigroup, it doesn't look optimistic for the owner of Argos. Capital CFDs quotes 125.4p-126.0p.

Mining giant Anglo American updates the markets tomorrow and traders will be watching carefully to see if it can break from the bearish pattern it has been in since hitting two and a half year highs at the start of the year. For now though, selling around 2,400p with a target of 2,100p seems a sensible play. Spread Co quotes 2,337.7p - 2,343.7p.