Peloton Hedge Fund
By Dominic Lau
LONDON (Reuters) - Britain’s top share index gained early on Friday as gains in energy shares and defensive stock Vodafone eclipsed falls in banks on concerns over the U.S. economy sparked by Federal Reserve comments.
At 0857 GMT, the FTSE 100 was up 0.24 percent at 5,980.2, after losing 1.8 percent on Thursday. The UK benchmark index has advanced 1.6 percent so far this week, but is still down more than 7 percent for the year on concerns over the U.S. economy.
“The market still looks very nervous. The banks are still the key talking point,” said Keith Bowman, analyst at Hargreaves Lansdown.
“The market is also broadly digesting the comments we had from (Fed Chairman Ben) Bernanke yesterday. We have seen some ramification of his comments in the continuing weakness of the dollar.”
Bernanke warned on Thursday that the troubled housing sector could cause failures of small banks, dragging U.S. stocks lower. In Asia, Japan’s Nikkei average fell 2.3 percent.
Banks were the biggest losers on the FTSE 100, with Barclays , Royal Bank of Scotland, HBOS, Lloyds TSB, Alliance & Leicester
and HSBC losing between 0.3 and 1.9 percent.
London-based hedge fund Peloton Partners LLP became the latest victim of the global credit market turmoil when it told investors on Thursday it was liquidating its $2 billion asset-backed securities fund.
Oil shares, however, offered some support to the market, with crude prices touching a new high above $103 a barrel.
Oil major BP put on 1.3 percent, while gas producer BG Group
gained 2.1 percent and Royal Dutch Shell added 0.3 percent.
Index heavyweight Vodafone rose 0.7 percent after Cazenove lifted its estimate for the mobile phone giant’s 2008/09 operating profit.
Capita slipped 1.4 percent after Britain’s biggest back-office firm said trading conditions were good amid continuing strong demand for services as it met forecasts with a 19 percent rise in underlying 2007 profit.
Yell Group dropped 2.3 percent, extending an 11.2 percent slide on Thursday after U.S. peer R.H. Donnelley lowered its 2008 outlook.
Among others, AstraZeneca rose 1.1 percent after it said it had submitted a once-daily version of its blockbuster Seroquel medicine for approval by U.S. regulators to treat severe depression in adults.
Schroders rose 2.2 percent after Morgan Stanley upgraded its rating on the stock to “equal weight” from “underweight”.
Tags: fund, hedge, peloton
Friday 29 Feb 2008 | admin | Uncategorized
If Obama is “The Democrat’s Reagan”, then Hillary is surely “The Democrat’s GW Bush”.http://www.flickr.com/photos/numlok/2264113538/
exactly.and I think we need to support the DNC at this time to show them who matters more - a few big shots with deep pockets or tens of thousands of motivated people.http://reddit.com/info/6c5s4/comments
this is turning into a farce. It reminds me of some of the shit that went on during the decaying days of the roman empire.
Perhaps the Clintons could ask their Chinese benefactors to fund the do-over elections.http://en.wikipedia.org/wiki/1996_United_States_campaign_finance_controversy
So how much total money are we talking about here? A few million? I like desnote’s idea that we create a money bomb, but our target should match the amount held hostage by this latest scheme to steal delegates for Clinton.
Those states broke the rules, those states can live with the consequences.
If you had enough money to make a difference, you’d probably be smart enough not to support Obama.
What a cunt.
Yea… I’m not going to vote this year if Clinton wins. Seriously. She’s starting to look pretty evil.
Has threatening to take your ball and go home ever been a winning strategy?
Gosh. What a complete piece of crap this woman is! My worst fear is that she could become president.
Major Clinton Fund-Raisers are threatening to withhold donations to the DNC unless the Florida delegates are seated with the January results or there is a new primary. the January primary was in violation of national party rules and a new primary would not Florida pass state law.To show the DNC that Obama supporters are inclusive of all Democrats and are committed to a fair and just resolution of this process, I am asking that people make a Money Bomb donation to the DNC adding $.46 to represent Obama’s age. We are not threatening the DNC by withholding funds but ask that the resolution be fair and by the rules of the party, which Obama has stated all along..Show your support by donating $5.46, $10.46, $25.46, $50.46 to the DNC as a Money Bomb showing a commitment to a fair and inclusive process to the seating of the Michigan and Florida delegates.https://www.democrats.org/page/contribute?outreachpageid=2037