Trading Update |
18-Oct-13, 6:28am: Cairn Energy plans to return $300m to investors through a share buyback programme. |
18-Oct-13, 9:19am: Stock Markets are Tracking Higher There have been big overnight moves, it could be a busy day. Here is this morning’s update. |
18-Oct-13, 9:19am: 3% Rise for Gold Comes From NowhereGold has seen a strange overnight move, so be careful if you are trading it. The S&P 500 has hit a new all time high and the dollar was ‘destroyed’ yesterday. GBPUSD and EURUSD are both showing large, and strong candles. Both markets are showing technical breakouts. |
18-Oct-13, 1:11pm: GlaxoSmithKline AnalysisThis week’s analysis covers a couple of large pharmaceuticals, GlaxoSmithKline and Novartis. The analysis suggests there’s 12% upside for GS K buyers, of course, there’s always a downside too. |
18-Oct-13, 2:23pm: The ITV stock is up 5p to 195.1p. Liberum Capital, the broker, raised its “fair valuation” to 255p from 230p. |
18-Oct-13, 3:31pm: Britvic Shares FizzAccording to the Questor column in the Daily Telegraph “Britvic (BVIC) profits for the year ended September would beat expectations. “The FTSE 250 listed drinks company, behind the Robinsons and Tango brands, had the return of its “Fruit Shoot” product and a warm summer to thank for the improved performance. Summer trading was further boosted by uninterrupted sales of Fruit Shoot. “Group sales jumped 15.8% in the Q4 when compared to the same period last year. “There has been a merger attempt which marked a darker point. However, Britvic fought back under former Diageo executive Simon Litherland, who joined as Chief Executive in February this year. “Underneath the headline sales figures the performance has also been strong with an increase in both its average selling price and volumes of drinks sold in every single division throughout Q4. “Britvic shares are trading on 17.5 times 2013 forecast earnings, falling to 15 times next year. “The revenue progress should be manageable, but earnings per share might prove tricky if the group has to heavily promote, or discount, products in a competitive market. “With the shares +7.5p to 607.5p Questor says Hold”. For more on this see Britvic shares fizz. |
18-Oct-13, 5:29pm: We’ll be back! Please note that all our editors are now out of the office until 31 October. Sorry, it’s a bit of a quadruple-witching hour of honeymoons, holidays and training. We will be back on 31 October. Good luck with your trading. Gordon |