The market performance of this week is poor and global indices have gone down for a little. The threat of Euro crisis, especially in Ireland and Portugal, has triggered the shorts in European
markets. In the US, expected consumer confidence figures and a shape fall in house price were expected having positive impact on the markets, Wall Street however is off its low for the day as the
worries about euro zone debt still dominated.
EBay’s market prices of this week followed the market trend. The good news for the company is that, quoting Financial Times, the total payment has increased about 27% over the last year’s Black
Friday. However, Ebay and other e-commerce sites were downgraded by market analysts who said that the auction site will lose market share in the next two years. Based on this information, I decide
to sell all Ebay holdings at current market price at $29.25 which is equal to 18.77 pens, giving Forex rate between two currencies is 1.5581.
The market performance of Monsanto is comparably strong giving the weak overall market condition. Therefore it is still worth to hold for a while.
Stock Monday Tuesday Wednesday
Open Close Open Close Open close
Ebay 30.84 30.23 29.52 29.14 29.67 29.26
Monsanto 59.19 59.36 58.76 59.92 61.31 61.73
The cash received from selling Ebay will be retained as the overall market condition is weak and the tread is not very clear. I will have some cash in hand waiting for markets to decide where to go
and then looking for better investments.
All prices are in USD cents
Current portfolio consists of cash 8576388.40 pounds and 221598 shares of Monsanto.