FIS hot stocks: 7 December
09 December 2015 London
Image: Shutterstock
The newly rebranded FIS Astec Analytics, previously issued under the SunGard banner, has released its ‘hot stocks’ list of the most demanded stocks for the week starting 7 December.
Volkswagen’s emissions scandal is still emitting bad news for investors and has taken it to the top of the hot stocks list for Europe, the Middle East and Africa.
The revelation that the car manufacturer was cheating during emissions tests to show dramatic reductions in output when compared to real-world results immediately caused a 30 percent sell off in the cash market.
The full extent of the cover-up set the firm up for a massive liability case and potential recall of relevant vehicles.
Short sellers were hesitant to jump in the frenzy and borrowing demand remained fairly flat during the initial crisis, according to Astec Analytics. However, an 80 percent jump in borrowing volumes later in the week showed that some short sellers decided the price drop wasn’t going to end any time soon after all and found the opportunity too good to miss.
In the Americas, it was the creator of the most popular smartphone in the world, Apple, that topped the hot stocks charts for the region.
The release of the iPhone 6S caused the usual level of hysteria among the Apple fan base and the tech company expects to break its previous record of selling 10 million units in the opening weekend.
Despite this, the company’s share price saw fairly mixed trading during the week. Short sellers took a bearish view for the company over the past month, with borrowing volumes climbing 32 percent.
In the Asia Pacific, is was Japanese tech giant Sharp that took the top spot after it issued a profit warning for its upcoming numbers for the first half of the year, saying it expects roughly a JPY 30 billion ($244 million) operating loss.
This triggered a sell-off in its stock that saw the price hit a 40-year low.
On a more bullish note, however, these large losses in the cash market have seemingly brought about some short covering, with borrowing volumes falling 10 percent this month.
Volkswagen’s emissions scandal is still emitting bad news for investors and has taken it to the top of the hot stocks list for Europe, the Middle East and Africa.
The revelation that the car manufacturer was cheating during emissions tests to show dramatic reductions in output when compared to real-world results immediately caused a 30 percent sell off in the cash market.
The full extent of the cover-up set the firm up for a massive liability case and potential recall of relevant vehicles.
Short sellers were hesitant to jump in the frenzy and borrowing demand remained fairly flat during the initial crisis, according to Astec Analytics. However, an 80 percent jump in borrowing volumes later in the week showed that some short sellers decided the price drop wasn’t going to end any time soon after all and found the opportunity too good to miss.
In the Americas, it was the creator of the most popular smartphone in the world, Apple, that topped the hot stocks charts for the region.
The release of the iPhone 6S caused the usual level of hysteria among the Apple fan base and the tech company expects to break its previous record of selling 10 million units in the opening weekend.
Despite this, the company’s share price saw fairly mixed trading during the week. Short sellers took a bearish view for the company over the past month, with borrowing volumes climbing 32 percent.
In the Asia Pacific, is was Japanese tech giant Sharp that took the top spot after it issued a profit warning for its upcoming numbers for the first half of the year, saying it expects roughly a JPY 30 billion ($244 million) operating loss.
This triggered a sell-off in its stock that saw the price hit a 40-year low.
On a more bullish note, however, these large losses in the cash market have seemingly brought about some short covering, with borrowing volumes falling 10 percent this month.
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