Sunday 28 October 2012
THAT WAS THE WEEK THAT WAS
You Lucky People!
By Malcolm Stacy
Hello Share Movers,
It's stormy outside, as I write. I wish the Stock Market was as lively as the wind. It seems rather dull at the moment. But then it's better to have a moribund set of shares than a blood bath.
There is some quiet confidence abroad, I fancy. Well, perhaps more of a slight dwindling of the usual nervousness. And that is possibly because of the new growth benchmark announced for the UK. One per cent does not seem at all bad to me. Yes, it's less than a seventh of Chinese growth. But then again, the Chinese economy is the fastest-growing in the world.
And, just like share dealing, one per cent here and there soon adds up to a lot of gain. I'm told that manufacturing is holding up quite well in Blighty. And making hardware is the engine room of a country.
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TODAY'S REPORT ON SHARECRAZY
Quindell Portfolio - Significant industry recognition
A report by GECR
- Quindell Portfolio, the leading supplier of software, consulting and outsourcing services within the insurance and telecoms sectors, has announced that it has been recognised in the report "Celent Claims Systems Vendors: European General Insurance 2012" among the leading European providers of Insurance Claims Systems.
- The announcement also indicated that the group has been recognised for other awards, which should be announced to the market shortly.
- In light of this announcement and recent trading results the group has released, we have upgraded our forecasts for 2013.
- Our stance remains buy at 13.625p with a 25p target price.
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The Week Ahead
Banking results and election fever to take centre-stage
Next week is set to be an extremely busy week, looking at the corporate and economic calendar from home and abroad.
Third-quarter UK corporate earnings season really gets into full swing with some heavyweight Footsie constituents scheduled to report, including GlaxoSmithKline, Shell, Smith & Nephew, Royal Bank of Scotland (RBS) and Lloyds.
On Thursday, Lloyds is expected to report an 'underlying' pre-tax profit of £580m in the third quarter and a 'management' pre-tax profit of £933m (which includes around £350m of 'fair value unwind'), according to Credit Suisse.
In a research report on October 23rd, the broker said that it had not included any further provisions in its forecasts for Payment Protection Insurance (PPI) claims. "Having taken a total of £4.3bn PPI charge so far, the implied charge following Barclays announcement could be up to c£1.5bn."
As for RBS, Nomura says that the things to watch out for in its third-quarter statement on Friday include: an improvement in core trends, particularly in NIMs (net interest margins); stable revenues in GBM (Global Banking and Markets); muted improvement in asset quality; and £350 in PPI provisions.
Election fever is set to ignite across the Pond ahead of the US presidential elections the week after. All eyes will be on the final reading of the US jobs report on Friday November 2nd which could provide a major catalyst for votes for either Barack Obama or Mitt Romney, depending on the outcome.
Analysts at Investec said: "Over recent days the race for the White House has become much closer, with President Obama appearing to lose ground across the crucial swing states knocking his chances of winning the electoral college vote and therefore his chances of retaining the keys to the White House.
"The outcome of the Presidential and Congressional vote on November 6th will be key in shaping market confidence over the ease through which US lawmakers will succeed in dealing in a balanced way with the fiscal cliff and in raising the debt ceiling."
The following weekend (November 4-5th) will see the G20 finance ministers and central bank governors meet in Mexico.
"So far we have little detail on what this meeting will cover, beyond a round-up on the state of play with the Euro crisis and outlook for the global economy," Investec said.
Monday October 29
INTERIMS
Great Eastern Energy Corp Ltd. GDR
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
GMS
XCAP Securities
ANNUAL REPORT
Stellar Diamonds
IMSS
Gem Diamonds Ltd. (DI), Perform Group
EGMS
ICB Financial Group Holdings (CDI), Wood Group (John)
AGMS
Ceramic Fuel Cells Ltd., City of London Inv Trust, Parallel Media Group
UK ECONOMIC ANNOUNCEMENTS
M4 Money Supply (estimate) (09:30)
M4 Sterling Lending (estimate) (09:30)
Mortgage Approvals (09:30)
Trends in Lending (09:30)
Tuesday October 30
INTERIM DIVIDEND PAYMENT DATE
Ashley (Laura) Holding, Smith & Nephew
INTERIM EX-DIVIDEND DATE
Octopus AIM VCT
QUARTERLY PAYMENT DATE
Dow Chemical Co
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Confidence (US) (15:00)
Economic Sentiment Indicator (EU) (10:00)
PMI Retail (EU) (09:00)
PMI Retail (GER) (08:55)
Unemployment Rate (GER) (08:55)
Q3
Bank Millennium SA, BP, Erste Group Bank AG, Eurasia Drilling Co Ltd GDR (Reg S), Eurasia Drilling Co Ltd GDR (Reg S), Hrvatske Telekom D.D GDR (Reg S), Wolfson Microelectronics, Yamana Gold Inc.
FINALS
Imperial Tobacco Group, Redefine International
EGMS
National Bank of Greece ADR
AGMS
Marwyn Value Investors Ltd., Mirada, Surface Transforms
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trades Surveys (11:00)
FINAL DIVIDEND PAYMENT DATE
Produce Investment
Wednesday October 31
INTERIMS
Volex
INTERIM DIVIDEND PAYMENT DATE
Amiad Water Systems Ltd, Foresight Solar VCT, Wynnstay Group
INTERIM EX-DIVIDEND DATE
APR Energy, Bloomsbury Publishing, Booker Group, C&C Group, Development Securities, Downing Planned Exit VCT 2 'C' Shares, Downing Planned Exit VCT 2 'D' Shares , Downing Planned Exit VCT 2 'F' Shares, Downing Planned Exit VCT 2011 (General Shares), Downing Planned Exit VCT 2011 (Low Carbon Shares), Downing Planned Exit VCT 2011 (Structured Shares), Downing Planned Exit VCT 3 'C' Shares, Downing Planned Exit VCT 3 'D' Shares , Downing Planned Exit VCT 3 F Shares, Hargreave Hale AIM VCT 2, Hilton Food Group, Howden Joinery Group, Intertek Group, ITV, Laird, Lombard Risk Management, Lookers, M&C Saatchi, Moss Bros Group, Provident Financial, Restore
QUARTERLY PAYMENT DATE
F&C Commercial Property Trust Ltd., JP Morgan Chase & Co, Middlefield Canadian Income PCC, Schroder Income Growth Fund
QUARTERLY EX-DIVIDEND DATE
JPMorgan Claverhouse Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (13:45)
Crude Oil Inventories (US) (15:30)
GFK Consumer Confidence (GER) (07:00)
International Reserves (EU) (11:00)
MBA Mortgage Applications (US) (12:00)
Retail Sales (GER) (07:00)
Q3
First Quantum Minerals Ltd., GlaxoSmithKline
FINALS
Neos Resources, Tracsis
ANNUAL REPORT
Aquarius Platinum Ltd.
IMSS
Aegis Group, Barclays, Logica, Mondi, Next, Phoenix Group Holdings (DI), St James's Place, Standard Life
SPECIAL EX-DIVIDEND PAYMENT DATE
IndigoVision Group
EGMS
OSJC Center for Cargo Container Traffic Transcontainer GDR (Reg S)
AGMS
Ashmore Group, Carpathian, Coburg Group, Greenko Group, Ideagen, Pacific Horizon Inv Trust, Tricor
FINAL DIVIDEND PAYMENT DATE
Abbey, Alumasc Group, Haynes Publishing Group, Rank Group
FINAL EX-DIVIDEND DATE
Abcam, AIREA, Allocate Software, El Oro Ltd, Go-Ahead Group, IndigoVision Group, JPMorgan Global Markets Emerging Income Trust
Thursday November 01
INTERIMS
BT Group
INTERIM DIVIDEND PAYMENT DATE
Derwent London, Fisher (James) & Sons, Keller Group, TT Electronics
QUARTERLY PAYMENT DATE
Mercantile Investment Trust (The), Torchmark Corp., Verizon Communications
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
Productivity (US) (13:30)
Q2
BT Group
Q3
Avocet Mining, BG Group, Reed Elsevier, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Smith & Nephew
IMSS
Glencore International, International Power, Legal & General Group, Lloyds Banking Group
AGMS
British Sky Broadcasting Group, Pochin's, Strategic Equity Capital, Webis Holdings
FINAL DIVIDEND PAYMENT DATE
Smith (DS)
Q1
British Sky Broadcasting Group
Friday November 02
INTERIM DIVIDEND PAYMENT DATE
Advanced Medical Solutions Group, BBA Aviation, Brammer, F&C Private Equity Trust, GVC Holdings, Judges Scientific, Motivcom, New Britain Palm Oil Ltd. (DI), Tandem Group, Weir Group
QUARTERLY PAYMENT DATE
Investors Capital Trust 'A' Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (US) (15:00)
Goods Orders (US) (15:00)
Non-Farm Payrolls (US) (13:30)
PMI Manufacturing (GER) (08:55)
Unemployment Rate (US) (13:30)
Q3
Millennium & Copthorne Hotels
GMS
Stellar Resources
IMSS
Admiral Group, Direct Line Insurance Group, Meggitt, Royal Bank of Scotland Group
AGMS
Genesis Emerging Markets Fund Ltd., Rare Earth Minerals
FINAL DIVIDEND PAYMENT DATE
Pacific Horizon Inv Trust, Zetar
BOOK OF THE WEEK
By Michael McGrath
A book review by Luka Lukic of t1ps.com
M&A is one of the powerful tools for a company that wants to change its business or rapidly expand. However, even the biggest companies can get it wrong, as we have seen in the past with General Motors and Chrysler, or Microsoft and Yahoo. It is fundamental for businesses to have a firm set of guidelines, both when looking for a target and throughout the amalgamation process. Holding a doctorate in banking M&A risk management and with over 15 years of experience working for some of the world's leading banks, there are arguably few men better qualified to give advice on the subject than Michael McGrath.
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ALTERNATIVE BET OF THE WEEK
Your local betting shop may be great for the footie, but you must go online for the truly weird bets.
This week: When will the first live Yeti be discovered?
Singles Only. Existence of the Yeti, a previously undiscovered species, must be fully proven and confirmed by New Scientist. Other countries on request.
| Before 2015 | 66/1 |
| 2015 to 2020 | 50/1 |
| 2020 to 2025 | 50/1 |
| Not before 2025 | 1/66 |
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