The Financial Times, London - Providers are targeting a broader clientele
ETX Capital is taking a similar approach – reducing the minimum bet sizes for a number of products. “It’s to allow new customers to try our services without risking too much capital,” says Manoj Ladwa, senior trader. In addition, from March 1, new customers will be given a ‘£250 safety net’ for their first 10 business days of trading. “If any net losses are incurred during that period, they will be refunded up to £250,” explains Mr Ladwa. “We believe this offers a better experience of trading than using a demo account.”
http://www.ft.com/cms/s/0/2ccdc7d4-2bd5-11df-8033-00144feabdc0.html 11th Mar 10
City AM, London - The Tipster | Earnings and Bids Driving the Markets
Homebuilder Barratt Homes is proving an interesting punt at the moment after speculation that rival Persimmon is mounting a bid of 170p per share. Barratt would make an interesting purchase as it is trading at a significant discount to its net asset value and has a large bank of land. ETX Capital is quoting 122.21p-122.79p.
http://www.cityam.com/markets-and-investments/the-tipster-36 11th Mar 10
Reuters, London - Firm commods, banks help FTSE gain 0.7%
“Wall Street came in with some early gains and stirred the FTSE from an earlier torpor late afternoon,” said Mic Mills, senior trader at ETX Capital. “But aside from strength in heavyweight commodity issues there really looks to be little underlying the advance and with new multi-month peaks being struck, investors might start to find the air getting a bit rarified at these levels,” Mills added.
http://www.reuters.com/article/idUSLDE5BD07320100310 11th Mar 10
The Guardian, London - Amec slides after cautious outlook
Manoj Ladwa, senior trader at ETX Capital said: “A quiet start to the trading session this morning as the market awaits the Bank of England announcement. Although widely expected to stick to their guns on interest rates and the quantitative easing programme, any surprises could send sterling into a spin.”
http://www.guardian.co.uk/business/marketforceslive/2010/mar/04/amec 4th Mar 10
Reuters, London - FTSE up 0.2 percent; banks higher as HSBC recovers
“HSBC’s bounce is keeping the market positive but underlying jitters remain, particularly after sterling’s slide on Monday, with investors scared by prospects that the upcoming (British) general election will bring no clear party winner,” said Mic Mills, senior trader at ETX Capital.
http://uk.reuters.com/article/idUKLDE62107W20100302?pageNumber=2&virtualBrandChannel=11700 4th Mar 10
Citywire, London - Pru shares slump 13% on cash call
Manoj Ladwa, senior trader at ETX Capital, was also positive about the deal. ‘Prudential’s decision to bid for AIG’s Asian life insurance unit could prove a real coup if successful,’ he said. The business is well established with over 20 million customers and would further cement Prudential’s presence in the Asian markets.’
http://www.citywire.co.uk/professional/-/news/shares-news/content.aspx?ID=385024&Page=2 1st Mar 10
City AM, London - The dollar can be particularly choppy around the release of payrolls data
The dollar can be particularly choppy around the release of payrolls data, says Manoj Ladwa, senior trader at ETX Capital: “Depending on what figure is expected, you tend to see the dollar move against other major currencies in the direction of the anticipated number before it is released.”
It’s wise to give yourself a wide stop loss if you trade this data, to ensure that bouts of volatility don’t catch you out.
Ladwa says that stocks and stock indices are also worth trading, but sometimes they can move in the opposite direction of what you would expect. Although the data might show that the economy created jobs, stock markets can actually fall. This is because stock markets are a discounting mechanism, notes Ladwa, and a strong economy that can create jobs indicates that interest rates might have to rise, which is bad news for equities.
http://www.cityam.com/markets-and-investments/profits-can-be-made-jobs-data 1st Mar 10