News

Blue Index News and Press Releases. Please visit this page often for regular updates regarding Blue Index as an organisation.

New 2008 Lows

The recent price action of the FTSE 100 has consisted of surges from below the 4,000, but on each occasion so far the moves higher have proved to be unsustainable. While it may not be the case, the impression one gets is that there is selling into strength going on, perhaps from distresses funds and institutions.

Wolseley Beats A Retreat

One of the biggest movers of the day on the London market and one of today’s sell recommendations at 305p has been Wolseley (WOS), the builders merchant. The decline to an intraday low of 250p was a delayed reaction to its downsizing its troubled US operations in the wake of the collapse in the housing market over there. The stock has since bounced to the 280p, but can certainly be defined as a sell into strength for a retest of the low of the day once more.

China Cools On Billiton

After all the huffing and puffing over the past year as to how good the prospects for it would be both with or without the takeover of Rio Tinto (RIO), mining giant Billiton (BLT) has finally admitted what the rest of the world has already been factoring in for months - demand from China is slowing.

Housebuilders Bounce Again

On the face of it we have seen a great rebound in housebuilders with key players such as Taylor Wimpey (TW.), Bellway and Persimmon (PSN) up 10% and more. The only problem with this is that in the case of Taylor Wimpey we have seen a 20% rise on a 12p share price. Here a new Finance Direction was appointed, as fears over its financial state continue. On the face of it the better interest rate outlook in the UK has at least put in a temporary floor for credit market sensitive stocks.