Share Name Share Symbol Market Type Share ISIN Share Description
Upstream LSE:UPS London Ordinary Share KYG7393S1012 ORD 0.25P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.625p 0.00p 0.00p - - - 0 06:30:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
6.3 0.4 21.9 0.1 2.23

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DateSubject
14/9/2017
09:58
master rsi: MARKET REPORT Next rallies and Interserve crashes as investors digest latest plc updates Next's (NXT) first half sales and profits were in line with its cautious expectations after a difficult six months. Pre-tax profits fell by 9.5% to £309.4m and total sales were 2.2% down at £1,914.0m. 'While the external environment looks set to remain difficult, from where we stand today our prospects going forward appear somewhat less challenging than they did six months ago.' Its shares jumped 9.3% to £48.28. Interserve (IRV) crashed 48.4% to 78.5p on a major profit warning caused by disappointing UK trading in July and August. Allied Minds (ALM) rose 15.5% to 171.75p as subsidiary Federated Wireless raised $42m from new investors. Excitement surrounding Federated Wireless' launch of the wireless industry's first spectrum controller, enabling government and commercial users to securely share the same spectrum band without impacting quality of service, was also behind the share price rise. Bradford-based grocer Morrisons (MRW) was marked down 2.6% to 238.7p as investors took profits following a good run for the shares. Half year results showed strong progress with CEO David Potts' turnaround. The supermarket's seventh consecutive quarter of positive like-for-like sales growth, up 2.6% before fuel and VAT, enabled Morrisons to report profit growth on growth for the first time in the turnaround. GVC Holdings (GVC) advanced 5.1% to 840.5p after saying adjusted pre-tax profit rose by 99% to €101.9m in the six months to the end of June. Net gaming revenues of €486.2m were up 10% (+12% in constant currency) vs pro forma H1 2016 and clean EBITDA of €133.9m rose by 28% vs pro forma H1 2016 (€104.4m). Spire Healthcare (SPI) slumped 12.5% to 271.3p after it revealed significantly lower than anticipated revenues in July and August and this trend in performance appeared to be continuing into early September. Ricardo's (RCDO) underlying pre-tax profits rose by 2% to £38.3m in the year to the end of June. Revenues were up 6% at £352m and the group's order book increased by 7% to a record £248m. Its shares were flat at 754p. Safestore (SAFE) saw continuing positive trading across the group in the third quarter with particularly strong momentum in its Paris business. Group revenues rose to £32.9m - up 12.5% at constant exchange rates - with like-for-like revenues up 3.2% at constant currencies. Its shares rose 1% to 412.9p. At 9:05am: (LON:ALM) Allied Minds PLC share price was +19.75p at 168.5p (LON:GVC) GVC Holdings Plc share price was +31.25p at 830.75p (LON:IRV) Interserve PLC share price was -67.25p at 85p (LON:MRW) Morrison Wm Supermarkets PLC share price was -10.8p at 234.2p (LON:NXT) Next PLC share price was +497p at 4914p
13/9/2017
22:41
master rsi: 10 growth shares with price and profit momentum - Stockopedia and Ben Hobson | 13th September 2017 The veteran US fund manager Richard Driehaus, once said that he wasn't at all interested in buying shares that were out of favour in the hope they'd eventually bounce back. Instead, he preferred the idea of buying growth shares on an upward trend and was happy to take the risk that they might fall. This "buy high, sell higher" approach made Driehaus one of the influential early adopters of 'momentum' investing. He was partly responsible for taking momentum from academia into the investment mainstream. And through his fund firm Driehaus Capital Management, he's still doing it today - with notable success. Hunting for growth stocks on the move For onlookers, the big lesson from Driehaus's approach is the potency of blending growth and momentum in small and mid-cap stocks. In essence, it's about looking for firms with a track record of earnings growth and share prices that are already rising. From that respect, it echoes the strategies of well-known investors like Mark Minervini and William O'Neil. Indeed, Driehaus pinpoints long-term earnings growth as the main driver of share price movement. So, central to his strategy is a focus on finding growth companies with rising rates of earnings per share and then figuring out which of them are likely to keep on delivering. Doing this means that this strategy hinges on the academic evidence that trends in both share prices and earnings tend to persist. In other words, a share price that has risen in the past tends to keep rising as more and more investors accept that the company is improving. In the same way, companies with rising profits that are beating market expectations tend to keep beating those expectations. For these reasons, Driehaus takes the view that rising prices tend to be more important than valuations, or even above-average debt, as long as their earnings growth looks assured. In terms of earnings, he looks for a track record of growth but, again, wants to find companies that are beating analyst expectations and delivering positive earnings 'surprises'. A focus on price and earnings momentum Stockopedia's own modelling of a Driehaus-inspired strategy has enjoyed a strong performance over the past year, with an impressive 42.3% gain. The returns are not always that strong, but recent returns reflect the popularity of growth stocks in the current market. With this in mind, we've recreated the Driehaus approach with a few of his favoured measures. These companies have all been seeing impressive earnings growth and strong support for their shares over the past year. Name Mkt Cap £m EPS Growth Streak EPS Growth % EPS Surprise % Last Year 1 Month Relative Strength James Cropper 181.8 5 30.2 24.6 +8.7 Luceco 397.2 3 118.9 21.0 +4.9 Marshall Motor Holdings 124.6 4 59.2 14.0 +12.6 Zytronic 99.9 3 19.8 13.0 +8.5 XLMedia 292.2 3 24.5 7.6 +7.6 Johnson Service 516.8 4 27.0 7.3 +1.0 Churchill China 112.2 8 30.2 6.5 +15.7 Impax Asset Management 137.3 3 57.7 6.4 +5.2 Applegreen 425.6 4 19.2 6.0 +6.5 Zotefoams 159.4 3 34.0 5.2 +12.0 Leading the list is the specialist paper and advanced materials business, James Cropper (CRPR). This is a firm that has seen rapid earnings growth over the past five years in tandem with a robust re-rating of its shares. On conventional valuation measures, this is likely to look expensive to value investors. Yet it's precisely this kind of high growth, high momentum stock that Driehaus looks for. Elsewhere, specialist lighting business Luceco (LUCE), only floated on the market a year ago, but its accounts point to a promising trend in earnings growth. As an ex-private equity controlled business, debt is high but under control and falling, again making this a potentially interesting momentum play. Followers of this column will also recognise other names on this list as regularly coming up in high quality, high momentum small-cap strategy screens. Among them are Zytronic (ZYT), XL Media (XLM), Impax Asset Management (IPX) and Zotefoams (ZTF). There is no doubt that the Driehaus approach to momentum makes this strategy exciting, and targets some of the fastest moving smaller companies in the market. However, with strong momentum comes the risk of sudden price crashes if things go wrong, or if the mood of the market changes. So, this approach to screening needs watching like a hawk. But for those looking for growth stocks on the move, it's a strategy that could be worth exploring.
10/9/2017
18:07
master rsi: The Oil Man: Rockhopper, EnQuest, ... - Malcolm Graham-Wood | Fri, 8th September 2017 Vacillating was what the oil price was doing yesterday as news sources contained mixed signals, which oil traders viewed from differing angles. It was mainly meteorological, though; cleaning up after Harvey is still going on, some refineries are still out, as with some production. Accordingly, inventory stats are going to be all over the place for a while, but the EIA reported a big draw in crude of 5.4 million barrels which foxed the analysts (yeah) and of 3.2 million in gasoline. Hurricane Irma is now sweeping through the Caribbean, including Puerto Rico, which contains a surprisingly large amount of refining capacity, particularly when it meets Florida whose Governor has ordered a takeaway of extra gasoline by tanker. And after that it's not stopping, Jose is on the way... Rockhopper Being out yesterday meant that today's blog is mainly catching up, in this case with results from Rockhopper (RKH), which one can gloss over in search of the real message. That real message is primarily about the progress of Sea Lion, recently seemingly back-burnered with Premier Oil (PMO) concentrating on its debt renegotiations but now back in the picture. In various announcements from both companies recently, and including the speech made by Sam Moody on Tuesday as reported here on Wednesday, the mood appears more buoyant than hitherto. The financing of Sea Lion, which is to be developed in at least two phases, is now looking less opaque and, with costs coming down and the up-front cheque getting smaller, there is starting to be some optimism around the partners. In discussions with UK Export Finance in the hope of around $800 million (£605.5 million) of senior debt financing, and also receiving encouraging signals from potential contractors, albeit in non-binding proposals, that might lead to circa $400 million things are looking up. Phase 1 capex has fallen from $1.8 billion to $1.5 billion and life of field costs are now down to $35/barrel which helps. I have recently talked about the Greater Med where production is material and operational cash flows are covering 1H G&A costs, with 'multiple' material new ventures being progressed. Rockhopper has always been a bit of a slow burner in terms of recommendation as repeatedly mentioned in justifying bucket list inclusion, but now I do think that things are on the move and, if the current discussions on financing prove successful, then maybe we are closer to pressing the go button. After all, the last couple of years have not been wasted and much work in terms of FEED and other development economics are well under way if not completed. Rockhopper appears to be in a much better place and 2018 may well be a year of significant progress. EnQuest Rule number 1 in the book of share price movements is to manage expectations and Enquest (ENQ) is learning fast, but not entirely fluently. Yesterday, they saw the share price rise when telling the market that the consortium of banks were likely to waive the September covenant test, offering limited and short-term relief. The rise in the share price was because all the bad news about Kraken and a huge cut in production guidance that went with it was issued last month. Someone said to me yesterday that they thought that ENQ was rather more 'issue prone' than others, but is surviving with 'unwavering support'. Shareholders must hope that this support continues until the can see the sunlit uplands as WC would have said. In the meantime, one waiver doesn't a summer make and the debt will have to be paid, hopefully with higher production next year. Empyrean Energy I am glad that I caught up with Tom Kelly a few weeks ago when I had the chance, otherwise I might have missed the excitement of the last few days as success in both China and California is pushing the share price justifiably upwards. Yesterday Empyrean (EME) announced that in China they have identified 591 MMbbls over three prospects called Jade, Topaz and Pearl and, while these are early days, it is already looking most interesting. What seems to be an almost daily update from Dempsey this morning suggests that yesterday the operator intersected a potential sandstone reservoir with 'high gas shows' in what is believed to be the primary target zone in the well. Plenty of time to go yet and much to prove, but this seems to me to be a significant discovery and reinforces my view that Mr Kelly has another hit on his hands with EME mark 2. Cape The Altrad offer for Cape (CIU) has now gone unconditional, so that's game over and a bit of a shame. Interestingly, in a long list of board level resignations I didn't see the names Oatley or Speakman appear. Have the new owners seen sense? Anyway, I look forward to the party invitation.
04/9/2017
22:22
master rsi: Lloyds Bank: The case for 34% upside By Lee Wild | Mon, 4th September 2017 - 12:32 There had been much to like about Lloyds Banking Group (LLOY) before the start of summer. Impressive profits, a generous dividend, and all-round improvement in the banking business has rewarded patient shareholders and attracted new ones. Indeed, buying at the post-referendum lows of 47p and selling at the May high would have generated a capital return of around 56%. Over 4p a share of dividends has also been announced since. Yet, there is disagreement about the merits of backing Lloyds now. Certainly, from a technical angle, our analyst John Burford suggests the shares are at a critical juncture, with further downside quite possible. Bears point to a 14% drop in the share price from 73.5p three-and-a-half months ago to levels last seen in April. That's at a time when the wider market has moved sideways and the bank sector has risen 2%. And this downtrend (see red line on the chart below), currently at 63p, remains a significant level. There's been a hiccup on the fundamentals, too. Lloyds has done a great job rebuilding its financial strength following the Credit Crunch, and the shares had been moving nicely. However, second-quarter results late July disappointed. Reported profit was up 4%, but a fifth less than expected because of surprise PPI provisions and other conduct issues. An increase in UK interest rates, which would be a significant boost to margins at Lloyds, appear no closer, either. Despite this, Jason Napier at UBS remains a fan, and Lloyds stays on his list of top bank stocks to buy. A price target of 85p implies 34% upside. Launched in May 2016, Napier's list has returned 40%, outperforming the index by 5%. And that's despite holding Lloyds - down 6% from its 67p portfolio entry price - through the Brexit vote. However, the high street lender is "safer than you think" and "cheaper than the market believes," writes the analyst. "Despite our cautious view on the UK economy we expect Lloyds to deliver broadly flat adjusted EPS in 2017-2019 as pre-provision profit growth offsets substantially higher loan losses," says Napier. "We do not expect earnings growth but we believe good capital generation will finance a dividend yield of over 8%." And UBS differs from others, arguing that net interest income generation is more sustainable than the market credits. In fact, there's room for re-pricing of deposits and return to growth in the open resi[dential] mortgage portfolio. "We see more capacity for cost reduction to offset revenue weakness should competitive conditions worsen beyond management expectations. We see optionality in investing in investments and insurance-driven businesses too." And UBS admits its assumptions could be conservative. "In four of the last five UK recessions, the banks made their share price lows before the recessions began," points out Napier. Expect a share price re-rating if Lloyds keeps outperforming peers like Barclays in unsecured loan losses, defends interest margins and grows the balance sheet. Of the other London-listed banks under UBS's microscope, the broker rates HSBC (HSBA) and Standard Chartered (STAN) both 'neutral with targets of 725p and 800p respectively, suggesting modest downside for the former and a small tick up for Standard. HSBC's valuation - 1.3 times tangible net asset value for a 10% forecast return on tangible equity with 5.3% dividend yield - fully discounts UBS's base case forecasts. For Standard, its turnaround is on track this year, but things will be "far more of a stretch" in 2018, argues Napier.
28/8/2017
22:59
master rsi: Why AIM could miss out on the next ASOS - Andrew Hore | Fri, 25th August 2017 There is a danger that the London Stock Exchange is losing sight of what AIM is for. An example of this is the suggestion that there should be minimum fundraising levels for companies that join the junior market. Bringing in minimum fundraisings could block the flotation of small companies seeking to grow their business and, even worse, could mean that AIM misses out on the next ASOS (ASC). Forcing a company to raise a minimum amount of cash that they do not immediately require is not doing shareholders any favours. It may also put off a good company from bothering to join AIM. Online fashion retailer ASOS joined AIM on 3 October 2011, less than one month after 11 September 2001 so it was not an easy time to raise cash. A placing raised £225,000 and £130,000 of that went on costs - itself an interesting figure because it would probably cost at least three times as much to float now. There was a share issue to acquire a cash shell with £350,000 in the bank but even if this is included the cash raised was modest. The market value of ASOS on flotation was £12.3 million and it is now valued at nearly £5 billion. There was a further £216,000 raised in July 2013 and these initial investments helped ASOS to build a base from which to grow prior to larger cash calls at later dates. Of course, there are other online retailers that have not been successful but the amount raised at the time of the flotation has little to do with that unless the company and its adviser have failed to assess the cash requirement correctly. It is more important that the right amount of cash is raised for the company's requirement rather than setting an arbitrary minimum. If investors are unwilling to put more money in subsequently that is an indication that the business has not done well and cannot attract funds. AIM should not be frightened of companies that have tried to build a business and failed. It is there to provide opportunities and some will lead to success and others to failure. Successful small flotations There are other examples of companies raising limited initial amounts that have subsequently raised more to finance expansion and grown substantially. Pizza restaurants operator ASK Central raised £1.2 million when it floated in 1995 and less than a decade later it was acquired for £213 million. Infection control products supplier Tristel (TSTL) raised £2 million in 2005, valuing the company at £8.82 million, and the most recent dividend cost more £2 million. Two of the top 50 AIM companies raised less than £4 million when they joined AIM. Ticketing systems supplier Accesso Technology (ACSO), then known as Lo-Q, was previously on Ofex. First Derivatives (FDP) raised £1 million, which valued the software services company at £6 million and that valuation has risen to £700 million. Animal genetics firm Genus (GNS) raised £2.75 million when it switched from Ofex in 2000 and it subsequently moved to the Main Market and is a constituent of the FTSE 250 index (MCX). Looking back over the history of AIM it appears that nearly 1,100 companies raised nothing when they joined the junior market. However, the majority were either readmissions after reverse takeovers or changes in domicile, moved from the Main Market or in the early days moved from the Unlisted Securities Market and rule 4.2, which were replaced by AIM. That leaves just over 500 companies, but many of these were gaining a dual listing from Toronto (TSX), Australia (ASX) or other overseas markets or, like Lo-Q, had moved from Ofex/Plus/ISDX/NEX Exchange (as it is now known) and they raised money when they joined the rival market. For example, self-storage sites operator Lok'nStore (LOK) did not raise any cash when it switched from Ofex to AIM according to the new issues spreadsheet on the London Stock Exchange website (there are some quirks, to put it mildly, in the London Stock Exchange figures so it is best to treat some of the figures with caution). Although it appears that nearly one-fifth of new admissions have not raised money, this is more of a historical fact than one that is particularly relevant in the present. Since the beginning of 2014, there appear to be four companies introduced to AIM, excluding readmissions and transfers from the Main Market, that have not raised money. Of these, one switched from the ASX and another was a TSX-listed company that gained a dual quotation. Oil and gas company i3 Energy (I3E) combined a conversion of loan notes with the flotation. The fourth is emerging markets investor APQ Global Ltd (APQ), which, according to the spreadsheet, raised nothing but in its admission announcement says that it raised £60.9 million. One of the things that the AIM discussion paper talks about is raising the cash immediately before or on admission. It may be that this cash was deemed to have been raised before admission but it means that the bar charts used in the document to show the levels of fundraising by new admissions are likely to overstate the number of companies raising between nil and £6 million. There are also seven companies that had share placings but are not deemed to have raised additional cash for the company. For example, at the end of 2014, audio equipment supplier Focusrite (TUNE) generated just over £22 million for existing shareholders but did not raise cash for itself. There is talk of exceptions to the potential rule but it is unclear whether that would include a company that has placed existing shares. There are also a limited number of new companies, since the start of 2014, that have raised less than £6 million. There are 17 that have raised less than £2 million, including three from NEX, one from ASX and one from TSX, 25 from £2 million to less than £4 million and 14 from £4 million to less than £6 million. As expected there is a mixed performance by these companies. Some of the share prices have fallen by more than 75% while others have more than doubled. Restaurants operator Fulham Shore (FUL) initially raised cash when it was on NEX Exchange, so when it moved to AIM in 2014 the fundraising was limited to £1.61 million at 6p a share. Six months later, £4.75 million was raised at 11p a share to finance an acquisition. Raising that cash at the start would have represented much greater dilution for the existing shareholders. Since flotation, the share price has trebled. Angling equipment retailer Fishing Republic's (FISH) share price has more than doubled since flotation and it also raised more cash subsequent to its flotation at a much higher share price. The company was valued at £4 million when it floated and it raised £1.5 million. Two subsequent placings have raised £4.25 million in total. The success of Fishing Republic also attracted the attention of its rival Angling Direct (ANG), which recently raised £7.4 million when it joined AIM. Exceptions to the rule The London Stock Exchange proposes limited exceptions, such as when a company is already on another market, such as the Main Market. That assumes that the company has built up a track record and has a level of financial strength. Real Hotel Group moved from the Main Market to AIM on 2 December 2008 following the setting up of a new holding company but without raising new money. An administrator was appointed on 21 January 2009. This shows that enabling companies to move from another market without raising cash is no better than forcing a company to raise more than it needs. JJB Sports, Wagon, Manganese Bronze and Slimma are among the companies that have made the move to AIM and gone bust, although not as quickly as Real Hotel. There are many former Main Market companies that have prospered on AIM, such as James Halstead (JHD), but one of the reasons there are so many tiny companies on AIM is that they are exported by the Main Market. This includes the third smallest company on AIM HC Slingsby (SLNG) and the fifth smallest Tricor (TRIC), which when it operated a different business was on the Main Market. More recently the standard listing is becoming a popular way of shells gaining a quotation, but these companies do not have to follow all the rules of a premium listed company and are not eligible for any FTSE index. Some of these companies, such as Satellite Systems Worldwide (SAT), move to AIM after a deal is done. A decade ago the move to put a £3 million minimum fundraising level on investment companies stopped shells with spurious strategies dreamed up in the pub from joining AIM. That did a good job of limiting very small companies on AIM. This level has since been raised to £6 million. This shows that a management team that has no business has serious intentions. While this targeted move has been successful, there seems little point in widening it to all new AIM companies. The upper limit of £6 million is certainly ridiculous if AIM wants to hang onto any pretence of being a market that helps small companies grow. In the past AIM was obsessed with increasing the number of companies and this seems to have morphed into an obsession with making the companies on AIM larger. Both obsessions are foolish. It also depends on why the company wants the money. Parcel deliverer DX (DX.) raised £200 million when it floated and this went on paying off most of its debt. The business has performed poorly and the market capitalisation of DX is currently well below £20 million. It is not necessarily companies that have raised small amounts of money on flotation that are the smallest on AIM. Many were much larger companies in the past. AIM seems to think that raising more money will require institutional investment and therefore more rigorous assessment of a company but that does not mean it will succeed as DX shows. There is an obsession with the idea that larger companies are better than small companies. Tungsten Corporation (TUNG) raised £160 million in 2013 and, even after further smaller cash calls, it is still heavily loss-making and valued at less than £80 million. Somehow, this is deemed to be fine but a company raising £2 million which fails is a terrible thing. Surely a better way is to make the cash levels part of the assessment by advisers concerning whether a company is fit for a quotation. Companies need to show that they have sufficient working capital and maybe this assessment should have more rigorous criteria that provides more slack for negative events. If too little cash is raised at flotation that is the fault of the adviser and if sufficient cash cannot be raised then the flotation should not go ahead. Minimum fundraising levels would not prevent fraud or other nefarious activities, or even incompetence, and would not necessarily improve liquidity if the shares go to firm institutional holders that do not deal in them. The focus on arbitrary fund raising levels is unlikely to improve the quality of companies and it may prevent good companies joining AIM.
20/8/2017
23:59
master rsi: Lonmin betting on platinum and palladium continuing their rallies LMI by ValueTheMarkets • August 18, 2017 As the platinum price continues to gain ground and palladium hits a 16-year high, shares in Lonmin Plc (LSE:LMI) are starting to perk up. Having taken a beating over the last 12 months, down from a high of 231p, Lonmin’s battered share price now trades at 82.5p on the mid. However, there are signs it could be about to stage a comeback. One of the greatest concerns about Lonmin (understandably) is the company’s debt. Having secured a bailout rescue package in December 2015, the company managed to survive albeit at a heavy cost. Today Lonmin carries a $150million debt facility, which includes a number of fairly stringent covenants. Of these perhaps the most noteworthy is the condition that Lonmin’s tangible net worth (“TNW”) must not fall below $1.1billion. According to the company’s latest set of interim numbers its TNW was $1.434billion, giving it $334million headroom. For long-term investors this might be a little close for comfort, but Lonmin’s latest quarterly production report offers some cause for hope. In this Lonmin announced, “Net Cash improved to $86 million (gross cash of $236 million less the drawn term loan of $150 million) at 30 June, up from $75 million (gross cash of $225 million less the drawn term loan of $150 million).” For a company, which the market fears is running out of cash, this is very good news. When you factor in continued price strength in platinum and palladium (which account for 75% and 25% of Lonmin’s production mix respectively) it is doubly positive. A bit earlier in the summer Lonmin’s shares traded at a 52-week low of 61.5p. At this level the company was starting to look like it was being priced to fail. The rally over the last month has made the situation look a lot better, but a price pullback in the last fortnight has further called into question Lonmin’s ability to hold the gains. Referring to the charts might offer some insight into which direction Lonmin’s shares will head next. From a Technical Analysis point of view there is an obviously strong relationship between Lonmin and the price of platinum. Platinum is currently charging ahead. Its price recovery bodes well for Lonmin, which should follow suit if this continues. The platinum price hit its low of $812 at the beginning of 2016. This year it has bounced around the $900 level three times and there are other encouraging signs of a sustained recovery now. On the daily chart platinum is above its 200 Day Moving Average (DMA) and recently ‘checked back’ with a confident bounce. The 20 DMA has crossed upwards through both the 50 and 200 DMAs. The price action is generally forming an upward trend. A break through long-term diagonal resistance (shown in red on the chart below) could signify a strong move towards $1200+, At the same time Lonmin’s share price appears to be in an upward channel mirroring platinum. It has just passed a strong diagonal line of resistance again. Other promising signs are the recent Golden Cross by the 20 DMA and 50 DMA, and also a month long support line beneath the Relative Strength Index. A good first target might be the 200DMA, which is on its way to meet the top of the current price channel at around 110p. However, with Lonmin still pretty much priced to fail and optimistic signs in the platinum price, the upward potential for the share price could be much, much greater. Opening a tightly managed, disciplined position at or around 82p appears to offer a favourable risk/reward ratio.
18/8/2017
09:27
master rsi: MARKET REPORT FTSE falls after Barcelona terror attack The FTSE 100 fell 0.62% to 7,342.42 on Friday morning following Thursday's terror attack in Barcelona, which hurt US and Asia stocks overnight. Shares price falls were witnessed across the travel sector, with EasyJet (EZJ) down 3.23% to 1,259p and International Consolidated Airlines 3.12% lower at 604.5p. The Renewables Infrastructure Group (TRIG) lost 0.14% to 108.75p despite reporting a 63% increase in pre-tax profit to £31.1 million. The company said there was challenging weather condition in certain geographies but was confident on its outlook. AstraZeneca (AZN) and Merck & Co announced that Lynparza has received additional and broad approval in the US for ovarian cancer. The shares were down 0.65% to 29.25p. Kingspan's (KGP) revenue rose by 19% to €1.75bn in the six months to the end of June (pre-currency, up 21%) and trading profit was up 6% at €177.8m, (pre-currency up 10%). The news sent the shares up 5.23% to 30.16p. Management Consulting Group (MMC), the global professional services group, made an underlying operating loss of £4.6 million in the first half, compared with a loss of £1.9 million the year before. It fell 5.23% to 7.25p. Forbidden Technologies (FBT) gained 2% to 6.13p on news it has agreed an expanded deal with an iconic sports, music and entertainment venue in New York. CATCo Reinsurance Opportunities Fund (CAT) reported another strong first half with no significant insured losses. The share price was flat at 1.35p. At 8:49am: (LON:AZN) AstraZeneca PLC share price was -17.25p at 4463.75p (LON:CAT) CATCo Reinsurance Opps Fund Ltd share price was 0p at 1.35p (LON:FBT) Forbidden Technologies PLC share price was +0.13p at 6.13p (LON:KGP) Kingspan Group PLC share price was +1.99p at 30.65p (LON:TRIG) The Renewables Infrastructure Group Ltd share price was -0.05p at 108.85p
17/8/2017
09:25
master rsi: MARKET REPORT FTSE weaker as pound strengthens The FTSE 100 lost 7.18 points to 7,425.46 on Thursday morning after a split among US monetary policymakers strengthened the pound. Kingfisher (KGF) lost 2.6% to 299.4p on a 1.9% fall in like-for-like sales to £3.1 billion in the second quarter with B&Q's seasonal performance down by 11%. Casino operator Rank Group (RNK) fell 3.8% to 230.5p after reporting like-for-like revenue increased by just 1% to £754 million in the year to 30 June, as venues like-for-like revenue fell 1% in a challenging retail environment. Hikma Pharmaceuticals (HIK) plunged 8.77% to 1,212.5p after total operating profits fell 2% to $113 million, with basic earnings per share 3% lower in constant currency. Gem Diamonds' (GEMD) underlying EBITDA fell to $13.0 million in the six months to the end of June - down from US$43.5m last time. The shares edged up 0.17% to 78.13p. Landscape products group Marshalls (MSLH) grew its profit before tax by 16% to £29.1 million in the first half, with revenue 8% higher at £219.1 million, driving the shares up 3.56% to 414.75p. KAZ Minerals' (KAZ) gross revenues increased by 2.3 times to $837m in the six months to the end of June on higher volumes and commodity prices. The shares added 0.18% to 708.75p. Flying Brands' (FBDU) operating losses rose to £192,000 in the six months to the end of June from £125,000 last time, sending the shares 2.86% lower to 4.25p. At 8:49am: (LON:GEMD) Gem Diamonds Ltd share price was -0.37p at 77.63p (LON:HIK) Hikma Pharmaceuticals PLC share price was -100.5p at 1228.5p (LON:KGF) Kingfisher PLC share price was -10.25p at 297.15p (LON:MSLH) Marshalls PLC share price was +14.45p at 414.95p (LON:RNK) Rank Group The PLC share price was -9.55p at 230.05p
28/7/2017
10:06
master rsi: VAST 0.33p = Vast Resources reports solid quarter Vast Resources (VAST), a mining company with operations in Romania and Zimbabwe, said the three months ended 30 June was a solid quarter for the company. Operations at the Manaila Polymetallic Mine in Romania and the Pickstone-Peerless Gold Mine in Zimbabwe improved significantly over the previous quarter in terms of tonnes mined, tonnes milled and overall production profile. Performance post period end has also been encouraging at both mines, the company said. In Manaila, there was a 41% increase in tonnes of ore mined, 54% increase in tonnes of ore milled and 57% increase in copper concentrate produced. The copper concentrate grade was maintained above the 18% threshold at 18.2%. There was a 19% increase in zinc concentrate produced and a 51% increase in zinc concentrate grade. At Pickstone-Peerless, production recovered from the slowdown in open-pit mining operations driven by the high rainfall experienced during the first quarter. There was a 33% increase in tonnes of ore mined, 15% increase in tonnes of ore milled and 36% increase in gold production. At 9:19am: other stock movement (LON:BEM) Beowulf Mining PLC share price was 0p at 7.38p (LON:BKY) Berkeley Energia Ltd share price was 0p at 46.75p (LON:CEY) Centamin PLC share price was -1.7p at 165.1p (LON:CZA) Coal of Africa Ltd share price was +0.13p at 2.75p (LON:FDI) Firestone Diamonds PLC share price was 0p at 37.5p (LON:FRES) Fresnillo PLC share price was -28p at 1510p (LON:GEMD) Gem Diamonds Ltd share price was -0.87p at 81.88p (LON:KMR) Kenmare Resources PLC share price was +3p at 258p (LON:VAST) Vast Resources PLC share price was +0.01p at 0.34p
24/7/2017
11:11
master rsi: An important lesson from Carillion plc's 70% share price drop By The Motley Fool 24 Jul 2017, 7:00 Construction and support services group Carillion(LSE: CLLN) has featured prominently in the news recently, after announcing a dramatic profit warning on 10 July. The company said a deterioration in cash flows on a number of construction contracts led the board to undertake a review of the group's material contracts, and that the review had resulted in expected contract provisions of £845m. That's equivalent to almost seven times last year's net profit. The share price was punished hard as a result of the profit warning, falling around 70%, meaning that many shareholders are probably now sitting on significant capital losses. That kind of drop can be hard to recover from. With that in mind, today I'm looking at whether there were any early warnings signs in relation to the significant share price drop and whether investors could have avoided getting their fingers burnt. Watch the short sellers One potential 'trouble' indicator that's always worth monitoring is the list of stocks that are the most 'shorted.' Shorting a stock means that the investor, usually a hedge fund, is betting on the share price of the company falling. So unlike regular 'long' investors, shorters make money when share prices fall. Whereas the market is full of 'weak longs', investors who own stocks merely because everyone else owns them, it's rare to find a 'weak short.' Indeed, shorters are usually short for a specific reason, and when there's a significant proportion of the market shorting a stock, it suggests that there could potentially be something very wrong with the company. Looking at the most shorted stocks over the last 18 months, Carillion was consistently at the top of the list. According to this Financial Times article, in April this year 30% of the stock was being shorted, and according to shorttracker.co.uk, even after the 70% share price fall, 21% of the company's shares are still being shorted. In Carillion's case, investors saw revenues and costs being recorded based on estimates, and trade receivables rising as sales declined. As a result, many bets were placed on the stock falling, and these bets have paid off, with the shorters cleaning up at the expense of the longs. Other heavily shorted stocks So what are other stocks being heavily shorted right now? Well, according to shorttracker.co.uk, other popular shorts at present include include names such as Ocado Group, WM Morrison Supermarkets, Tullow Oil and Marks & Spencer Group. A full list of the top 10 shorts as at the end of the last week is below. CARILLION PLC 20.94% OCADO GROUP PLC 19.06% WM MORRISON SUPERMARKETS 16.19% TULLOW OIL PLC 14.46% WOOD GROUP (JOHN) PLC 13.36% DEBENHAMS PLC 13.05% MARKS & SPENCER GROUP PLC 10.06% TELIT COMMUNICATIONS PLC 9.14% PETS AT HOME GROUP PLC 8.85% MITIE GROUP PLC 8.44%
Upstream share price data is direct from the London Stock Exchange
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