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The forward look from The Share Centre w/c 19th September 2011
Nick Raynor, investment adviser at retail stockbroker, The Share Centre, gives his thoughts on what to expect from companies announcing results w/c 19 September 2011.
Monday
Recent upheaval caused by Laxey Partners has seen Alliance Trust undertake a share buyback scheme in an effort to close the discount from the Net Asset Value NAV and the share price. The share price is currently trading at 330p while the NAV is over 380p and we are sure investors would rather be trading closer to the true value of the shares. We hope these interim results will contain further details of buy backs and an increasing dividend.
We currently list Alliance Trust as a BUY
Tuesday
Carnival Group has recently ordered three new cruise ships - a confident move in a market which has not had the best of years to date. Unrest in the Middle East affected figures earlier in the year and we don’t doubt that this will raise some concerns again. Although the oil price is falling it will not have any positive impact on figures at the moment. We feel there is little for us to get excited about ahead of this release.
We currently list Carnival Group as a SELL
Wednesday
In spite of our sell recommendation Imperial Tobacco has performed very well so far this year however this makes the recommendation even more compelling. There is plenty of value in the market and even if this trading update is good BAT is still our preferred play in the sector. We feel there also are better value and higher yielding stocks to be had amongst the FTSE 100 which have plenty of opportunity to give an investor a healthy return.
We currently list Imperial Tobacco as a SELL
Thursday
Utility companies have been steady to date, especially over the last couple of months when everything else has been very volatile. This is the nature of the game with utility companies as they tend to be stable and string yielding; therefore we expect these results to be steady with no surprises.
We currently list United Utilities as a HOLD
Economic Diary
Economic announcements for the w/c 19 September 2011
21 September, Minutes of the Monetary Policy Committee Meeting held on 7 & 8 September – Bank of England
Last month, and for the first time this year, no members of the MPC voted for a hike in interest rates. But still Adam Posen voted for more quantitative easing QE. When the MPC met earlier this month it is fairly certain no members voted for a rate hike, and it seems equally certain that Mr Posen again voted for more QE. But was he joined by other members on this occasion?
21 September, FOMC Meeting – US Fed
Fed Chairman Ben Bernanke has been cryptic on the issue of whether he is in favour of more QE. It is also clear that some rate setters at the Fed are dead set against the idea. But with the US economy apparently limping along the bottom, a growing number of commentators have been forecasting an imminent new round of asset purchases by the US central bank.
Other economic announcements include:
20 September
- International Comparisons of Productivity, 2010, First Estimates – ONS
21 September
- Public Sector Finances - August 2011 – ONS
- Public finance release – Office of Budget Responsibility
22 September
- Monthly Industrial Trends Survey, CBI
---Ends---
THIS DATA IS PROVIDED BY NICK RAYNOR, INVESTMENT ADVISER AT THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.
Risk Warnings:
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