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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?


To: Wade who wrote (11923)11/26/2009 3:03:39 PM
From: Wade  Respond to of 48092
 
gata.org

British bank shares fall as much as 8% on Dubai debt mess
Submitted by cpowell on Thu, 2009-11-26 18:28. Section: Daily Dispatches
Fears over Dubai Send European Shares Tumbling

By Peter Stiff
The Times, London
Thursday, November 26, 2009

business.timesonline.co.uk.

Almost L44 billion was wiped off London's biggest companies today amid growing fears the UK financial sector could be heavily exposed to Dubai World, the state-owned conglomerate that yesterday asked for a standstill on its $60 billion (L36 billion) debt pile.

The FTSE 100 tumbled 170.68 points or more than 3 per cent to 5194.1 in its biggest one-day percentage fall since the market plunged to six-year lows in March.

"One London trader said: "Dubai is weighing heavily on the market. It has its fingers in so many pies that it could have a contagion effect and there are concerns another country could have problems on the back of this."

He added that today's activity was very similar to when Lehman Brothers collapsed, warning that Dubai's problems could be the catalyst for the market to fall further."


..more



To: Wade who wrote (11923)11/26/2009 3:26:44 PM
From: posthumousone  Read Replies (1) | Respond to of 48092
 
Low volume market tomorrow.....

I am tired of trading....i just want to sit on my mining shares and enjoy the price of gold and silver going up without another lehman type of collapse to take all the fun out of it.

Let the world sell the financials and buy some miners.....it's part of a properly diversied portfolio ; )

What's the concenus.....if gold and silver go up but general market drops 2-3% would you be buying more mining shares???

I like a stronger dollar with gold going up.