Monday 4 February
QUOTE OF THE DAY
"I don’t pay good wages because I have a lot of money; I have a lot of money because I pay good wages."
- Robert Bosch
THIS MORNING IN LONDON
FTSE 100
6,293.18
-54.06 -0.85%
FTSE 250
13,248.22
-27.54 -0.21%
FTSE 350
3,370.16
-25.91 -0.76%
FTSE All Share
3,302.28
-24.96 -0.75%
AIM 100
3,301.53
-14.44 -0.44%
AIM All Share
739.73
-10.5 -0.14%
13:10 pm
THOUGHT FOR THE DAY
Hello Share Fans,
I’ve been saying that the big rise in share values, welcome though it is, cannot last much longer. And there are quite a few City experts who cannot understand why the boom is happening.
The economic outlook for most of the world is not that good. It seems particularly bleak in Blighty. Price to earnings ratios which used to look rather attractive have risen in recent months with the Footsie. And now they look rather unattractive.
CLICK HERE for the full article
ON THE BLOG
AIM needs the ISA – NOW!
By Michael Crockett,
Editor of AimZine – the magazine section of the Investor’s Champion website.
In his Autumn Statement George Osborne said that the government would consult on allowing AIM shares to be held in Stocks and Shares ISAs and most press commentators are expecting that AIM shares will finally be allowed into ISAs, probably in April 2014
Perhaps the government does not think that including AIM shares in ISAs is going to be an important weapon in fighting this “economic equivalent of war”. Let us take a look at some figures and consider the arguments...
CLICK HERE for the full article
THIS MORNING IN LONDON
Stocks fall on profit-taking after recent surge
UK stocks were registering moderate losses on Monday morning as traders began to lock in profits following a strong start to the year. The FTSE 100 jumped a whopping 6.4% last month, its best January performance since 1989.
"After impressive recent gains, European equities cooled in early trade this morning as political uncertainty in Italy and Spain put a bid under peripheral Eurozone treasury yields," said Matt Basi, a senior sales trader at CMC Markets.
"After the euphoria of Friday's breach of 14,000 in the Dow, sighs of resignation abound on trading desks around the city as investors are once again forced to contemplate the uneven political landscape." .
Economic data was also weighing on sentiment this morning after Markit's construction purchasing managers' index (PMI) was unchanged at a six-month low of 48.7. Consensus forecasts were for a small up-tick to 49.
FTSE 100: Randgold jumps after full-year production report
Gold miner Randgold surged this morning after saying it achieved record production and profit levels in 2012. Production is expected to increase by at least 13% in 2013 also.
However, the wider mining sector was out of favour today. Diversified mining group Anglo American was slightly lower after saying that its troubled South African platinum division fell sharply into the red in 2012. Sector peers Antofagasta, Kazakhmys and ENRC also fell.
Banking stocks were also under the weather after Chancellor George Osborne warned lenders that they risked being split up. HSBC, Lloyds, RBS and Standard Chartered were lower.
UK lender Barclays was also firmly in the red after announcing that its long-running Finance Director, Chris Lucas, has stepped down ahead of the group's conclusion of its strategic review in the coming weeks. Mark Harding, the Group General Counsel who has been with the bank for 10 years, has also decided to call it quits.
Energy company Centrica was a high riser after saying it would not participate in a UK nuclear new build. The group said it will now launch a £500m share buy-back programme.
Aerospace engineer Meggitt was under the weather after UBS downgraded the stock from 'buy' to 'neutral'. Chemicals group Johnson Matthey was also hit by a ratings cut by Citigroup to 'neutral'.
FTSE 250: Salamander surges after oil find
Oil and gas exploration and production company Salamander Energy rocketed this morning after saying it has discovered oil at the first well in its multi-well programme in the North Kutei Basin. The well, known technically as the South Kecapi-1 DIR/ST exploration well, discovered a combined 40 metres of net oil and gas pay in high quality stacked Pliocene channel sandstones, the group reported.
Sector peer EnQuest also rose after saying that oil production is in line with its guidance.
Transport firm Go-Ahead was advancing after HSBC upgraded the stock to 'overweight and raised its target price from 1,180p to 1,415p. t that it has seen "positive momentum across all brands".
CLICK HERE FOR THE DAY'S FASTEST MOVING STOCKS
WHAT THE BROKERS SAY
Seymour Pierce has retained its 'buy' rating and 403p target price for Centrica after the energy giant revealed on Monday that it would not be proceeding further in nuclear build in the UK.
Panmure Gordon has raised its target price for online gaming group 888 Holdings after the company revealed details of their record fourth quarter on Monday morning.
UBS cut its recommendation for aerospace engineer Meggitt from 'buy' to 'neutral', causing shares to fall on Monday morning.
Nomura has reiterated its 'buy' rating and 280p target price for telecoms group BT Group, saying that the firm's third-quarter results have reversed recent negative revenue momentum.
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:
MICHELMERSH BRICK HOLDINGS(MBH)-"Character Bricks"
Randgold Resources
SILVERMERE ENERGY(SLME)-Gulf of Mexico focused.
SEA ENERGY (SEA) - Formerly Ramco Energy
MURGITROYD GROUP (MUR)-Be Patient with Patents!
Click here to discuss shares with other ShareCrazy members
Regards,
ShareCrazy
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