Thursday 30 August 2012
QUOTE OF THE DAY
"I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer."
-Jim Carrey
THIS MORNING IN LONDON
FTSE 100
5,734.61
-8.92 -0.16%
FTSE 250
11,353.41
-34.28 -0.30%
FTSE 350
3,045.93
-5.31 -0.17%
FTSE All Share
2,980.86
-5.09 -0.17%
AIM 100
3,041.61
-7.37 -0.24%
AIM All Share
676.48
-1.65 -0.24%
11:50 pm
THOUGHT FOR THE DAY
Hello Share Movers.I’ve been taking stock. You do get the time when the Footsie doesn’t seem to be moving much. This week has been very disappointing, so there’s been time to look at my bag.
There are loads of penny shares in there which have just not performed. A lot of them are simply moribund or gently losing strength. This is a dangerous time for a share. When it falls ever so slowly, so you are hardly aware that it is doing badly.
Click here to view the rest of the article
NEW ON THE BLOG
by Lucian Miers
As China Fraud spotter Citron Research found out to its cost last year with Harbin Electric (HRBN), proving fraud beyond reasonable doubt in a Chinese company is no guarantee that a short position will be profitable. Harbin (clearly hugely fraudulent) was taken private by its management, financed by a bank loan which made no financial sense at all and which was clearly an example of “guanxi” at work, the inscrutable relationship based way that business is conducted in China which often seems to defy logic and reason.
Click here to view the rest of the article
TIP OF THE DAY 
A report by Growth Equities & Company Research
Initial commercial production from Mustang Island is just the beginning of the story with future development work on other existing prospects within this same licence area which has the potential to significantly upgrade the Company’s reserves and valuation.
Silvermere is seeking to grow by acquiring further at or near production, secondary and tertiary oil and natural gas opportunities onshore and shallow offshore the US that have the promise of early cash flow and Currently evaluating possible acquisition of an producing oil asset in New Mexico.
2P reserves at Mustang Island alone allows us to determine a target price of 22p.
Click here to download the full report…
THIS MORNING IN LONDON
Miners unwanted ahead of Jackson Hole meeting
- Jackson Hole speculation ramps up
- Global economic data disappoints
- Evraz, Kazakhmys and the miners provide a drag in London
UK stocks were continuing to trade in the red by Thursday lunchtime as equity markets the world over showed their nerves ahead of some eagerly-awaited central bank meetings over the next week.
"Today is the first day of the Jackson Hole Symposium in the US. The markets are expected to remain quiet ahead of Ben Bernanke's speech tomorrow. People will be looking for any subtle hints that the Fed intend to loosen monetary policy next month, potentially in the form of QE3," said analyst Craig Erlam from Alpari.
European Central Bank (ECB) President Mario Draghi is being forced to miss the Jackson Hole conference due to "a heavy workload", increasing speculation that he could be putting the finishes touches to plans for strong action ahead of an ECB meeting on September 6th.
Losses on stock markets were cemented this morning after German unemployment increased for a fifth consecutive month in August.
Meanwhile, economic data from Asia also failed to brighten the mood: Japanese retail sales came in below expectations and South Korean manufacturers' confidence remained near its post-crisis low.
FTSE 100: Miners dominate the fallers in morning trade
Resources stocks such as Rio Tinto, Kazakhmys, BHP Billiton, Eurasian Natural Resources Corp and Vedanta Resources were registering losses this morning as risk appetite is scaled back ahead of the pivotal meetings of central bankers over the next week. After an initial stint in the blue, steel group Evraz fell after reporting a tough first half after it was hit by falling steel sales and prices.
Kazakhmys was under pressure after Jefferies downgraded the stock from 'buy' to 'hold', and said that it now prefers copper peer Antofagasta. The broker said that Kazakhmys's first-half results were "much less impressive" than Antofagasta and its 26% stake in ENRC is "not helpful".
Precious metals group Polymetal was bucking the trend after reporting a 41% increase in first-half revenue as gold sales volumes and prices rose.
Global advertising conglomerate WPP dropped after saying that it is set to achieve a full-year like-for-like (LFL) revenue increase some way short of previous expectations. The group is forecasting LFL revenue growth for 2012 of 3.5%, versus a budgeted improvement of 4.0%.
Barclays was under the weather after promoting from within to fill its vacant CEO position, moving up Antony Jenkins, currently head of Barclays Retail and Banking. Barclays is under pressure after the Serious Fraud Office said it is investigating the lender in relation to payments made in the Middle East.
Car insurance group Admiral was also in the red despite reporting a record half-year profit and record interim dividend payment. The company noted a "marked change" in the core UK car insurance market in 2012 "premium rates falling and competitors seeking to add market share".
FTSE 250: Cape jumps in spite of "difficult period"
Shares in Cape, the provider of non-mechanical support services, rose strongly despite the group reporting a 65% drop in adjusted pre-tax profits in the first half. Nevertheless, revenues improved by 11% and the forward order book increased by £90m.
"I am pleased to say that, having carried out an initial review of all of our operations, I continue to believe that the core of the business is fundamentally strong," said Chief Executive Joe Oatley.
Heading the other way was recruitment group Hays after saying that it expects the overall economic backdrop to remains "difficult" in 2013. The firm cuts its full-year dividend by more than a half due to the increasing global economic uncertainty, which slowed the pace of the profit growth.
FTSE 100 - Risers
Morrison (Wm) Supermarkets (MRW) 281.20p +1.59%
Royal Bank of Scotland Group (RBS) 224.60p +1.13%
Kingfisher (KGF) 277.40p +1.06%
Shire Plc (SHP) 1,933.00p +0.99%
British American Tobacco (BATS) 3,318.00p +0.96%
SSE (SSE) 1,383.00p +0.80%
Tesco (TSCO) 339.85p +0.76%
Diageo (DGE) 1,737.00p +0.75%
Pennon Group (PNN) 744.00p +0.74%
Centrica (CNA) 331.70p +0.67%
FTSE 100 - Fallers
Kazakhmys (KAZ) 594.00p -3.73%
Vedanta Resources (VED) 858.50p -3.43%
WPP (WPP) 806.00p -3.07%
Admiral Group (ADM) 1,167.00p -2.42%
Eurasian Natural Resources Corp. (ENRC) 307.80p -2.29%
Antofagasta (ANTO) 1,098.00p -2.23%
BHP Billiton (BLT) 1,862.50p -2.18%
GKN (GKN) 213.90p -2.06%
Rio Tinto (RIO) 2,718.00p -2.00%
Fresnillo (FRES) 1,541.00p -1.78%
FTSE 250 - Risers
Cape (CIU) 231.10p +19.99%
Kentz Corporation Ltd. (KENZ) 395.00p +3.67%
Bwin.party Digital Entertainment (BPTY) 96.00p +2.73%
Essar Energy (ESSR) 102.60p +2.60%
IP Group (IPO) 129.10p +2.46%
Dialight (DIA) 1,163.00p +2.02%
Daejan Holdings (DJAN) 3,027.00p +1.88%
Redrow (RDW) 148.20p +1.86%
Centamin (DI) (CEY) 77.40p +1.64%
St. Modwen Properties (SMP) 199.00p +1.53%
FTSE 250 - Fallers
Bumi (BUMI) 292.50p -8.96%
Ferrexpo (FXPO) 157.30p -8.86%
Hays (HAS) 71.15p -7.18%
Aquarius Platinum Ltd. (AQP) 37.26p -5.19%
Melrose (MRO) 234.20p -3.86%
Talvivaara Mining Company (TALV) 125.90p -3.15%
Shanks Group (SKS) 87.80p -2.82%
Petropavlovsk (POG) 360.80p -2.78%
SIG (SHI) 99.60p -2.54%
Gem Diamonds Ltd. (DI) (GEMD) 178.90p -2.51%
WHAT THE BROKERS SAY
Jefferies now prefers Antofagasta over copper peer Kazakhmys and has downgraded its rating for the latter from 'buy' to 'hold'.
Nomura has reiterated its 'buy' rating and 1,300p target price for car insurance group Admiral highlighting the firm's strong first-half results and continued claims 'stability'.
Investec has placed its 'buy' recommendation and target price for Sir Martin Sorrell's media giant WPP under review after the group scaled back its full-year guidance as second-quarter results came in below expectations.
Click here for the rest of the broker recommendations
THE LATEST ON THE CRAZY BOARD
The top 5 hot company threads on the Bulletin Board:
JJB
YULE CATTO & CO (YULC)
APR ENERGY (APR) - Another Aggreko?
AHT- Potentially very strong
XCITE ENERGY (XEL)
Click here to discuss shares with other ShareCrazy members
BOOK OF THE WEEK
By Rodney Hobson
A book review by Luka Lukic of t1ps.com
In this book Rodney Hobson aims to provide a straight forward introduction into the world of portfolio management and best practices to employ when selecting what you want to invest in. Thankfully it doesn't pretend to offer a guaranteed, one size fits all, scheme to become a millionaire, but instead attempts to compel the reader to assess what they wants to get out of their investment and then provides guidance to that end.
The book aims to explain the different behaviours of the various market sectors, and the importance of not only holding a range of shares, but diversifying them throughout the sectors to ensure a proper hedge. It also walks the reader logically through a range of factors than can, and most likely will, affect the share price and gives case studies to demonstrate the impact on real companies.
Click here to view the rest of the article
Regards,
ShareCrazy
No comments:
Post a Comment