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  • Article / 3 hours ago

    Today's Trade: Soft opening with likely rebound for S&P/ASX200

    Trading Desk / Saxo Capital Markets
    Metals shares will be in the spotlight today, following the 2.2% leap for nickel prices. Sirius and Western Areas will be among the stocks to watch. Meanwhile an afternoon recovery is likely for the S&P/ASX200 following a soft opening. In currencies, news releases on trade and retail sales and speech by RBA deputy governor Philip Lowe could have an impact on the Austrailan dollar.
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  • Squawk / Yesterday at 23:13 GMT
    Senior Analyst /
    Saint Vincent and the Grenadines
    When a Good Strategy Is Losing Money - Part 2

    The Power of Choice
    Anyone who says she/he can never lose is an accomplished fabricator. Anyone who says their strategy doesn’t lose is also a distinguished fabricator. Losses are a blessing in disguise because they’re the secrets that help us become better traders. When you lose money with a good strategy, after being faithful to it, it’s up to you to decide whether to quit or continue.

    There was a legendary trader who made and lost fortunes in the markets. We got much to learn from such a great trader, so that we know what’s behind his success and imitate him. We also want to know the cause of his failure so that we can avoid that in our trading. The truth about trading is timeless and it will forever be. Humans drive the markets, and as such, various human emotions are reflected in price actions. When things go wrong, we want to make sure that the effects on our portfolios are minimal.

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  • Squawk / Yesterday at 20:46 GMT
    Saxo Bank Senior Dealer Equity CFD's Market Making / Saxo Bank
    New York Closing Imbalances: buy side.
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  • Squawk / Yesterday at 19:41 GMT
    Capital Markets / Banco Carregosa SA -
    Is Italy overbanked? "We view the current business model for Italian banks as unsustainable, with 70% of traditional banking run by c.50 large/mid-sized banks and the remaining 30% covered by 600 small players. This suggests to us that there are structural inefficiencies that are no longer sustainable. For this reason we think consolidation is likely to happen in the popolari sub-space, mainly in the form of mergers of equals. Consolidation in a highly fragmented and thus highly competitive environment (~700 banks in total) can bring about significant changes in terms of pricing and costs (as we have seen in Spain)."
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  • Squawk / Yesterday at 19:39 GMT
    Capital Markets / Banco Carregosa SA -
    Italian Banks - Bad bank reignites debate: key catalyst for 2015? -
    Expected M&A post popolari reform, together with acceleration of
    NPL rundowns, could potentially improve sector profitability and
    allow Italian banks to cover their CoE vs. our 6.7% ROTE 2017E. We expect news short term and see UCG/PMI as the best ways to play it. Assuming, for example, in an M&A scenario costs go down 10-15% for the combined entity, we estimate ROTE could improve on average 175-262bp to 8.4-9.3%. On top of that we see further upside if a bad bank is successful in normalizing loan loss provisions by 2017E to the tune of another 160bp for the midcaps (140bp including both ISP and UCG)." in Italian Banks - Matrix by Morgan Stanley - March 3, 2015
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  • Squawk / Yesterday at 15:43 GMT
    Saxo Bank Senior Dealer Equity CFD's Market Making / Saxo Bank
    Technically we are looking at the first resistance level of this bounce in the S&P500 cash index to be the half back level/ 2,094. (SP500.I)
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