Sunday 18 November 2012
THAT WAS THE WEEK THAT WAS
Relatively New To Shares
By Malcolm Stacy
Hi Share Friends,
A nephew of mine hit the share train for the first time this week. He is not very old (obviously) and admits that he has a lot to learn.
He has chosen four shares which are pretty speculative. But he has not put much money into each of them. And he can afford it, if they all go down. This however, is highly unlikely, as companies which make the markets are usually fairly sound - though we have no idea what will happen in the future
As he only wants to start with a fairly small pot, it is sensible to have a go with penny shares. The big giants move slowly and are not always safer, anyway. With penny shares a daily rise of 20p is not unusual.
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The Week Ahead
Compass, Johnson Matthey, brewing & pubs groups
Contract caterer Compass will give investors food for thought on Wednesday when it releases full year results.
The market has pencilled in a figure of £16,869m for revenue, which is a lot of sausage rolls and crudités in anyone's language. Profit before tax is expected to break through the billion pound barrier to £1,074m. Earnings per share are tipped to be around 42.37p, with the full year dividend roughly half that amount at 21.18p.
Strong showings in North America plus Fast Growing & Emerging regions should compensate for soft markets in Europe and Japan.
Panmure Gordon is hoping for an update on plans to return additional cash to shareholders and believes the market would "welcome a commitment of a further £500m" by the end of fiscal 2013, which, if done in the form of buy-backs, would enhance earnings per share by around two or three per cent.
Platinum refiner Johnson Matthey's half year results are expected to see the company unveil a 1.5% decline in revenue to £5,810m while operating profit is predicted to be virtually flat at £213.5m.
Despite what looks like a period of treading water for Johnson Matthey, Charles Stanley is expecting the company to whack the interim dividend up from 15.7p last year to 22.2p this.
"This would not be too surprising. At the release of its preliminary results for the year ended March 31st Johnson Matthey announced a special dividend payment of 100p per share, in addition to a final dividend payment of 40p per share. The rationale behind the special dividend payment was continuing strong growth in both profits and cash flow and the belief that the group has 'ample resources' to fund these expenditures," writes Rae Ellingham of Charles Stanley.
Johnson Matthey is a world leader in emissions control technologies, e.g. catalytic converters, so it does have exposure to the struggling French motor car industry, which might persuade the board to be a bit more careful with the divi.
The week has a bit of a boozy theme with the likes of brewer SABMiller, pubs group Enterprise Inns and brewing & pubs group Fuller, Smith & Turner all reporting.
Panmure Gordon forecasts unchanged profit before tax for Fullers of £16.5m, reflecting the impact of the wettest summer for 100 years.
Full year profits at Enterprise Inns are expected by the market to be in the region of £136.3m on sales of £685m.
"Given the improving trading trends and falling bank debt - and the possibility of the reintroduction of dividends over the next 12 months - we think the stock continues to offer significant upside potential," suggested Simon French of Panmure Gordon.
As for SABMiller, Charles Stanley predicts revenue of $16,940m, leading to profit before tax of $2,575m, but warns there is likely to be material variation in trading conditions by regions.
SABMiller "remains well placed to benefit from growth in urban middle class populations in emerging markets, which aspire to drink branded beer and can increasingly afford to do so," notes Charles Stanley's Sam Hart.
"Trading conditions in developed markets are likely to remain more challenging, but significant potential remains to improve operational efficiency in these markets and they will continue to be an important source of cash to invest in faster growth markets," Hart added.
Monday November 19
INTERIMS
FFastFill, Majestic Wine, Mitie Group
INTERIM DIVIDEND PAYMENT DATE
NTT DoCoMo Inc
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Existing Home Sales (US) (15:00)
Q3
Latchways
GMS
Valirx
FINALS
Diploma
ANNUAL REPORT
BowLeven, Netcall
IMSS
FBD Holdings, Ruspetro
FINAL DIVIDEND PAYMENT DATE
Hansard Global, JPMorgan Emerging Markets Inv Trust, Petmin Ltd. (DI)
Tuesday November 20
INTERIMS
Accumuli , Big Yellow Group, British Land Co, CML Microsystems, Eckoh, Energy Assets Group, Halma, Heath (Samuel) & Sons, Homeserve, Mckay Securities, Renold, Schroder Real Estate Investment Trust Ltd, Telecom Plus, Vectura Group
INTERIM DIVIDEND PAYMENT DATE
Capital Shopping Centres Group
QUARTERLY PAYMENT DATE
Caterpillar Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
ABC Consumer Confidence (US) (22:00)
Building Permits (US) (13:30)
Housing Starts (US) (13:30)
Producer Price Index (GER) (07:00)
Q2
Big Yellow Group, British Land Co, Optos
FINALS
easyJet, Enterprise Inns, Paragon Group Of Companies
ANNUAL REPORT
World Careers Network
EGMS
Experian, Plaza Centers NV
AGMS
Advance Frontier Markets Fund Ltd, Black Mountain Resources Ltd, Smiths Group
FINAL DIVIDEND PAYMENT DATE
Henderson EuroTrust, Ricardo
Wednesday November 21
INTERIMS
Halfords Group, HICL Infrastructure Company Ltd, Hyder Consulting, Intermediate Capital Group, Johnson Matthey, Omega Diagnostics Group, QinetiQ Group, UK Mail Group
INTERIM EX-DIVIDEND DATE
Carphone Warehouse Group, Great Portland Estates, HICL Infrastructure Company Ltd, Hill & Smith Holdings, Invensys, Investment Company, London & Stamford Property , Metric Property Investments , Morgan Crucible Co, Next, Prime People, Printing.com, Sainsbury (J), Synergy Health, TalkTalk Telecom Group , TEP Exchange Group, Vedanta Resources, Vodafone Group, Walker Crips Group
QUARTERLY EX-DIVIDEND DATE
Carnival
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Bloomberg Consumer Confidence (US) (14:45)
Continuing Claims (US) (13:30)
Crude Oil Inventories (US) (15:30)
Initial Jobless Claims (US) (13:30)
Leading Indicators (US) (15:00)
MBA Mortgage Applications (US) (12:00)
U. of Michigan Confidence (US) (15:00)
Q3
JSC KazMunaiGaz Exploration Production GDR (Reg S), Zhaikmunai LP GDR (Reg S)
FINALS
Avon Rubber, Compass Group, Optos
SPECIAL EX-DIVIDEND PAYMENT DATE
Narborough Plantations
EGMS
VietNam Holding Ltd, VinaLand Ltd
AGMS
Aberdeen Asian Smaller Companies Inv Trust, Active Capital Trust, Impax Asian Environmental Markets, International Ferro Metals Group, JPMorgan Global Markets Emerging Income Trust, Pantheon International Participations, Ruffer Investment Company Ltd Red PTG Pref Shares, Sabien Technology Group, Stellar Diamonds
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
FINAL EX-DIVIDEND DATE
Euromoney Institutional Investor, GETECH Group, Hornby, Keystone Inv Trust, United Drug
Thursday November 22
INTERIMS
Dart Group, Mothercare, SABMiller, Sepura, Young & Co's Brewery 'A' Shares
INTERIM DIVIDEND PAYMENT DATE
Goals Soccer Centres, Hansteen Holdings, Smart Metering Systems
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
Q3
ADC African Development Corporation GmbH, Avengardco Investments Public Ltd GDR, Bridge Energy Asa, Wentworth Resources Ltd (CDI)
GMS
Impellam Group
FINALS
Daily Mail and General Trust A (Non.V), Grainger, Phytopharm
ANNUAL REPORT
Firestone Diamonds
AGMS
Close Brothers Group
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
FINAL DIVIDEND PAYMENT DATE
Thorpe (F.W.)
Friday November 23
INTERIMS
Max Property Group, Picton Property Income Ltd, Sweett Group
INTERIM DIVIDEND PAYMENT DATE
Bovis Homes Group, Harvey Nash Group, Menzies(John), Octopus VCT , RSA Insurance Group, Scottish Mortgage Inv Trust, Ted Baker, Walker Greenbank
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Gross Domestic Product (GER) (07:00)
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
GMS
Nexus Management
ANNUAL REPORT
Croma Security Solutions Group
SPECIAL DIVIDEND PAYMENT DATE
Aberdeen Asian Smaller Companies Inv Trust
EGMS
KT Corp. ADR
AGMS
Draganfly Investments Ltd., Hargreaves Lansdown, Hargreaves Services, Petmin Ltd. (DI), Rialto Energy Ltd (DI)
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
FINAL DIVIDEND PAYMENT DATE
Abcam, Aberdeen Asian Smaller Companies Inv Trust, Dechra Pharmaceuticals, El Oro Ltd, Genus, Mcbride, Murgitroyd Group, Smiths Group
BOOK OF THE WEEK
By Niall Ferguson
A book review by James Faulkner of WatsHot.com
One could be forgiven for lifting an eyebrow at the title of Niall Ferguson's book (and television series) exploring the development of global finance - surely a more apposite title given the current climate would be The Descent of Money, or something along those lines? But the really great thing about historians is that they take a much more eclectic and measured view of present circumstances than most of us can afford by the very nature of our own professions and preoccupations. The recent G20 Summit in London demonstrated how angry many people are at their own financial plight, the apparent greed of bankers and financiers, and the great gulf between the haves, the have-nots and the 'have-yachts' as Ferguson puts it. Yet Ferguson shows us that the problems of today aren't products of the financial system itself, rather they are the products of our own tendency to lurch from irrational exuberance to excessive pessimism.
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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: Will Newsnight be axed in 2012?
Singles Only. Applies to whether or not Newsnight is scrapped in 2012. BBC spokesperson must announce that the programme Newsnight has been discontinued. Paddy Power decision is final in settlement.
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