FTSE100 falling fast!

Mr_Mumble

Current US futures are looking ugly, S&P 500 at 1166 so a loss of nearly 3% on their Friday close. That, very roughly, indicates a 1.5-2% drop in the FTSE-100 (S&P gained >1% after UK markets closed).

Of course these markets are very illiquid and can turn quickly so its by no means an accurate indicator but its all we've got for now. Most Asian markets open at 1am our time (a CNBC special starts then for any night owls).

dunstonh

Pacific markets are opening showing around -0.5 to -1.5% in early trading. Looks like they have shrugged it off. However, nothing to say they wont get spooked later.

pinkteapot

I made the mistake of looking at the valuation of my S&S ISA, ouch. Not going to do that again for a few years.

Batchy

So the news was ...US credit rating was downgraded, when will markets learn to make news NEWS, immediately rather than announce before they do it what they are going to do, to a few select, who position themselves to PROFIT.

Basically nothing was happening in the markets, so they generated some ACTION.

Money markets, and Equity markets and Market Makers all make money on ACTION, whether there are increases or falls. Makes me sick!

GDB2222

pinkteapot wrote: »

I made the mistake of looking at the valuation of my S&S ISA, ouch. Not going to do that again for a few years.

A mistake to look, you mean? How about topping it up now that prices have dropped?

Alysia

Batchy wrote: »

So the news was ...US credit rating was downgraded, when will markets learn to make news NEWS, immediately rather than announce before they do it what they are going to do, to a few select, who position themselves to PROFIT.

Basically nothing was happening in the markets, so they generated some ACTION.

Money markets, and Equity markets and Market Makers all make money on ACTION, whether there are increases or falls. Makes me sick!

Sometimes you have to just play the game, otherwise the game will start to play you.

Batchy

Oh well, looks like I was right... where just where does it end, it slows down, maybe as low as 4500 or 4700.

Shares are cheap, and its based on fear. This brings back some memories, the problem is when the US catches a cold, the rest of the world goes into melt down.

Fine Next sales might be doing ok, but when the world feels a squeeze so will the retails sales and a whole load of others.

Graham_Devon

Mrs_Bones wrote: »

Vince Cable opens his mouth again tomorrow / today in an article in The Sunday Times, saying that 'Britain faces a double dip recession as the Bank of England prepares to slash growth forecasts.' Not saying he's wrong but it's hardly going to help the markets when they open on Monday. Not the sort of speech to generate much confidence.

Better than the Obama speech!

He actually caused damage with his party political broadcast masked as a speech.

sabretoothtigger

Exactly, politics is already messed up in its attitude towards allowing free business. Another person mixing in their own spin on the truth to support themselves is selfish not leadership. I hope the voters recognise that failure even if he does not

ess0two wrote: »

Essar have just bought us out,ex Shell Stanlow refinery.

They certainly gave a good speech wrt investment etc,proof will be in the pudding so to speak.

They have a large refinery in India,currently averaging 7-8$ per barrel profit,we are somewhere 3-4$ with Shell.Although different departments creamed most of the profit off.

I can see them importing large volumes of diesel and jet fuel from India,the UK struggles with these products,nearly all UK refineries are heavily biased to petrol production.

Most UK refineries require investment,and were designed on North sea easy crudes.

I thought that might be how a UK person was in the company. My main interest in Essar is their India operations to supply power, theres a gap in the market they might fill.

They seem to recognise this possible failure of India to sustain its growing energy needs. Increasing refinery abilities generally, UK is a processing centre I think

So I'd say they'll do well so long as they are competent, I'd be interested to hear how they compare to Shell.
At the moment the share price has about halved, I think they could recover that. Results 22nd Aug


http://af.reuters.com/article/energyOilNews/idAFL3E7IB1S020110711?pageNumber=2&virtualBrandChannel=0



Market seems to halt fall with FED easy money 2013 promises
http://www.bloomberg.com/news/2011-08-10/bernanke-s-interest-rate-timeframe-draws-most-negative-votes-in-18-years.htmlframe-draws-most-negative-votes-in-18-years.html




North Korea is shooting at people again, helps oil prices and ftse mostly. swings and roundabouts. See Cairn if you dont like Essar, more risky but also skilful people apparently

StevieJ

Here we go again, Dow takes a big lurch down and takes the Ftse with it.