FTSE Plunges On HSBC’s Huge Rights Issue

New York London GMT Tokyo Singapore

FTSE Plunges On HSBC’s Huge Rights Issue

By Capitalists@Work on March 2, 2009 | More Posts By Capitalists@Work | Author's Website

The FTSE (^FTSE) has plunged over 3% this morning on news of HSBC’s (HBC) huge rights issue. Together with more bad news from America and Government dithering over Lloyds Banking Group, it has been a grim morning and it is only just 9am. Currently the FTSE stands lower than when Tony Blair came to power. Well done Labour, officially 12 wasted years and counting. The fall since October is approaching 40% alone.

Those that study charts would tell you that we either bounce from here or go a lot lower, possibly until the FTSE starts with a 2….

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

IMF: Moroccan Economy To Grow 5% This Year - 13 mins ago
Thai GDP Growth Slows In Q3 - 17 mins ago
*Thai. Q3 GDP Down 2.8% On Year Vs. 4.9% Fall In Q2 - 30 mins ago
*Thai. Q3 GDP Up Seasonally Adj. 1.3% On Quarter Vs. 2.2% Growth In Q2 - 31 mins ago
Thai Shares Tipped To Open Lower - 41 mins ago

Opinions From Our Contributors

Commodities China Owns The Heavy Stone Has Gold Just Broken Out Of Its Trend Channel? The Dirty Little Secrets Of Warrants, Options & LEAPS Interesting Articles To Read The Forgotten Commodity - Rice Commodity Investing: ETFs Or Mutual Funds? John Paulson Launching A Gold Fund With $250M Of His Own Money Profit From The Falling Dollar With ETFs Wheat Playing Catch-Up As Commodities Rally Regulators And Commodity ETFs: Why They’re Evolving Read More »	Financials Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Tufts Endowment And Risk Taking? Regional Bank ETFs: The Bad And The Good Read More »	Exchange Traded Funds What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs Are You Going For Yield With Your ETFs? Rydex Market Timers: At It Again Is An Asset Bubble Forming In Hong Kong’s ETF? Senior Secured Floating Rate Bonds: The Best Investments To Own When Interest Rates Rise Why Gold Will Surge To A Record $2,000 In 2010 KBW Regional Banking ETF: Fundamentals Are Stinky, But The Chart Looks Great Read More »
Stocks I’ve Noticed A Profitable Pattern Stock Picks For Monday: Nanometrics, Melco Crown Entertainment, MetroPCS Communications And Cell Therapeutics S&P 500 Index Is Still Overvalued This Small Oil Exploration Company Is Ripe For A Takeover… Here’s How To Profit 3 Steps To Becoming A More Successful Trader The Transportation Sector: Here Are Three Investments In A Sector That Are Ready To Soar Stock Market Briefs: DR Horton, Dell, JM Smucker Nordstrom - Momentum Stock Buy Stocks To Watch On Friday Comcast-NBC Universal Deal To Change Comcast’s Business Model Read More »	Forex Month To Date Review Of The Market One Reason Why The US Dollar Might Rise Forex Wrap-up: A Massive Short-Covering Rally In The US Dollar May Just Be Starting Australian Dollar: Caution Canadian Dollar: Caution “Audit The Fed” Bill Moves Along USD/JPY Pushing Against The 100 Hour Moving Average At 89.11 Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Read More »	Economy China Will Blow Up Before It Grows Up Contrary To Conventional Wisdom, When China Drops Its Currency Peg, The Immediate Benefits Will Flow To The Chinese, Not Americans Societe Generale Tells Investors How To Prepare For Potential “Global Collapse” Obama Commits To Free Trade Agreement With South Korea, But Auto Trade Remains An Obstacle Exponential Growth, Finite World The Message Of The 2-Year US Treasury Note, Deflation And Japan Why Investors Should Look To Japan Again Bond Sentiment: Treasury Yields May Drop LA Shipping Reaches Highest Level Since Nov. 2008 Velocity Of US Money Supply At Long Last Picking Up Read More »