Newspaper Briefing, including 'Eurozone gripped by fresh fears of a second ...
24.05.12
The Times
Gilts: U.K. Government bonds dipped as investors nibbled on shares amid a growing conviction that Greece would reach the agreement with bondholders conditional for another bailout to stave of disorderly default. The June gilt future settled nine ticks lower at 115.20. In the cash market, the yield on ten-year gilts eased less than one basis point to 2.13%.
Bet of the day: Spread-betters were buying JD Wetherspoon ’s share price ahead of interim results. Despite profits margins squeezed by rising VAT, alcohol duty and dearer food prices that cannot be passed to struggling consumers, the operator of 850 pubs is still tipped to deliver higher profits.
Deal of the day: Strategic Natural Resources raised nearly £8.2 million selling new shares to Richardsons Capital, the vehicle of the prominent Midlands property family. After subscribing for 51 million shares at 17p each, the Richardsons own nearly 30% of SNR, up 0.375p at 18p. The cash should bring its Elitheni coalmine in South Africa to production.
Source: Proactive Investors UK