Morning Spy: Precious Metals Advance, News Corp Saga Continues (ECPG, JVA, AMBO, MFN, SA, GOOG, BTU, MT, NWSA)

The markets have started the trading week to the downside. Traders may be selling today with debt worries about Italy beginning to intensify.

Today’s Top tickerspy Indexes:

Bill-Collector Stocks (up 1.8%, see graph): The Index is being led by shares of Encore Capital Group (ECPG), which are trading higher after the company responded to its Texas Attorney General complaint.

Coffee Stocks (up 1.1%, see graph): Shares of Coffee Holding Company (JVA) are leading the Index higher today on well above average volume. The stock has risen over 120% over the last month.

Chinese Education Stocks (up 1.0% today, see graph): Shares of Ambow Education Holding (AMBO) are leading the Index higher on well above average volume.

Gold and Silver Stocks (up 0.2%, see graph): The Index is being led by shares of Minefinders (MFN), which are trading higher after the company said it sees second quarter sales above consensus. The company said it sees sales being $73.1 million versus analyst consensus of $57.35 million. Also performing well today is the Canadian Mining Stocks Index. Shares of Seabridge Gold (SA) are leading the Index higher. Precious metals positive performance today may be attributed to traders looking to reduce risk in equities.

Today’s Top Market Headlines

Quick Action Helps Google Win Friends In Japan: Through efforts like a Person Finder site and Street View recordings after the earthquake and tsunami, Google (GOOG) is finally winning over new friends in Japan.

Nomura Proprietary Trader Fuchs Said to Plan Own $400 Million Hedge Fund: Benjamin Fuchs, who leads the Global Opportunities Group proprietary trading desk at Nomura Holdings, aims to start his own Hong Kong-based hedge fund with at least $400 million, said two people with knowledge of the plan.

Australia’s Carbon Tax Won’t Alter RBA Policy, Mckibbin Says: Warwick McKibbin, a Reserve Bank of Australia board member and a professor at Australian National University in Canberra, talks about the carbon tax proposal announced by Prime Minister Julia Gillard.

The News Corp Witch Hunt: The mainstream coverage of News Corp’s (NWSA) News of the World scandal has begun to look like the publication’s own coverage of celebrities, sensational crimes, pictorials of nearly naked ladies, and any other tawdry content that might draw reader interest.

Profits Climbing to 51-Year Average as S&P 500 Multiples at Crisis Levels: Earnings growth in the Standard & Poor’s 500 Index is climbing back to the average rate since the 1960s as the U.S. economy recovers, even with equity valuations stuck near credit-crisis levels.

Macarthur Coal Gets Takeover Proposal From ArcelorMittal, Peabody Energy: Macarthur Coal, the world’s biggest exporter of pulverized coal, said Peabody Energy (BTU) and ArcelorMittal (MT) made an initial takeover offer for the Australian company, valuing it at $5.1 billion.

Tags: AMBO, BTU, ECPG, GOOG, JVA, MFN, MT, NWSA, SA