Monday, 23 May 2011

Millionaire for a weekend!

Well, for a whole weekend there I was a millionaire!
Not through any skill or luck of mine (chance would be a fine thing) but logging on to my dealing accounts on Saturday I noticed my account showing a total in the millions which after a quick look at the detail was down to a fault (yes I know but one can hope), with the share price of Rolls-Royce to do with a decimal point.
In this case Rolls' share price was 63500.00p instead of 635p. But hey, whats a couple of decimal places between friends.
Unfortunately, logging on this morning it looks like the fault is being corrected as I write so I am a pauper again. Left with only the memory and a screen shot of my former wealth.
I suppose that I will have to give back the yacht and cancel that order for a Rolls-Royce!

On top of this disappointment, I see that the FTSE100 is under pressure with a 94 point fall this morning.
Whats behind it? (apart from fear and speculation of a quick buck). Sounds like falls in the oil price are dragging commodity stocks down with it and elsewhere, continuing (rather than more), concerns around European debt (I notice that mass protests were starting in Spain in the weekend news).

One piece of good news is that Gordon Brown is slipping down the list of contenders to replace Dominique Strauss Kahn, the former IMF President. 

FTSE 100 @ 5854.09, - 94.4 (-1.59%)

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