Things warmed up a bit in town this week with the half-term holidays bringing with it an influx of early holidaymakers. A mixed blessing. It is strange when you live in a touristy area how, when the season is under way you initially get a buzz as everything wakes up and then, come August, you are looking forward to having the place back to yourself again. Then, after a couple of months of peace and quiet, things begin to get a bit boring and by February you are looking forward to the visitors return. I guess it will be fish 'n chips and tea-like-Mum-makes for a while now. Home is now more like home. The hole in the wall now has a fireplace. The lounge decorating is all but complete and the new carpet has been laid. Just in time for the weekend when we babysit the Grandchildren! Running a book on which of them is the first to make their mark! Bless 'em. :=)
On Monday Vodafone lost its number one slot in the FTSE100 (replaced by BP Amoco) and the market drifted a bit aimlessly. With another holiday in the US there was no lead coming from that direction which didn't help. Although telecoms shares led the fall on Tuesday, it was difficult to pick on any sector which made any progress. The FTSE100 sank to a 16 month low, closing the session below the psychologically important 6000 mark following a loss of 113 points. There was no let-up to come as the week progressed with the banking sector suffering and poor UK trade figures putting a damper on any moves to brighten the week. By the close of the final session, the FTSE100 still looked under threat with the previous day mini-revival forgotten as took another double digit hit to end a sad week still the wrong side of 6000.
Don't forget to check out the offers available to ADVFNers under the e-tail tab. In particular, there are bargains to be had in investor-related reading material through The Global Investor Bookshop with some special bundle deals for ADVFN customers offering significant discounts.
The Weekly BB Review
When The Player asked IMS Maxims - What's going on!!?? last weekend, I suspect he was unaware of the big news about to hit the company (IMX), although it was obvious that something was going on. His conclusion then? "Someone must be running the slide rule over IMX. And a few people seem to have gotten wind of the fact." It took a while, but humbugg joined the party Tuesday and didn't have to wait long for action - although it couldn't have been what he was expecting. As Toogood reported, the shares were suspended on Friday as the company announced it was in negotiations with Digital Channel Partners Limited - effectively a reverse takeover situation as DCP are by far the larger organisation. If you don't know the company too well and want to find out more, The Player has kindly provided a link to an intriguing article from the Irish Times. I don't think it will be long before we know exactly what is going on.
Love 'em or hate 'em, Just Group is one of those companies which you can't keep off the Bulletin Boards. Whether you are a full-blown member of the fan club like rally, ducatiman and the fish (See Just Group on the move) or a little cynical like Cat or in shorting mode like dodddy (See Just Group - Get the bin bag ready) you just can't ignore these little blighters. If Bug Ugly Martians (BUMs) are going to be the next big moneyspinner, then SMYTH (and his 3 year-old daughter) have seen one six feet tall! I'm sure I've seen a lot wandering about town recently too. After a terrific run earlier in the week, the shorters seemed to be getting the best of it by the end of the week though I would suggest they listen a little to Chris Jones who thinks "the whole 'package' is too good not to succeed." Almost 27m shares changed hands on Friday alone. It will be interesting to see how it pans out. I expect an invasion any day now! ;=)
Aggreko recommenced its share price improvement this week. The dismay of haystalk in WOT! No Comment ? in January persisted. Only jackrussel seemed to pick up on the new movement. If BROCKMAN is correct, the results should be out any time now. Maybe worth keeping an eye on them.
For a mix of political opinion and financial stargazing, you need look no further than FTSE 100 BELOW 6000 !!! where bobsims must have wondered what he'd started by post 17. (Forsaken must be off the medication again! ;=)) Sticking to the financial discussion, robber pointed out that "the last time the FTSE100 ended lower was in October 1999 at 5869. 10 weeks later it peaked at 6930." Scripopopophilist, our well-known Greek entrepreneur, wanted to see it lower still - hoping that "dumbo" investors (not here, surely!) would trigger a further fall by re-balancing their portfolios. The Player sounded more hopeful that catastrophe could be avoided, provided the telecoms companies could stabilise their positions, although his parting shot, "One major TMT calamity and we're all finished." sounds a bit ominous. MrWildjuice and bird had some interesting charts to display which bring the picture into focus a little more clearly. I particularly like the 15 year view which about coincides with my start in investing. I think bobsims got his money's worth out of the thread which was worthwhile for me too, if only to know that Smallchange was up to making a contribution from his Mallorcan hideaway. Good to see him back!
zzaxx99 expanded his interest in the pharma sector with a great new thread - Sectoral Intercourse: Pharmaceuticals - complete with a comprehensive set of charts covering all the major players. He has maintained interest by posting up a wealth of interesting appropriate news and views. If you have any interest at all in the Pharmaceutical sector, this is surely the place to visit. Excellent stuff!
dodddy took time out from day trading to give PIC International another once over in pic international climbing. With the re-emergence of foot-and-mouth disease in England, his timing was immaculate. If herds of pigs needed to be slaughtered due to the disease, would it ultimately benefit the pig-breeding company when farmers had to re-stock? As willo pointed out, although much of the company's revenue derives from sales in Europe and the USA, the public perception will probably be that any business related to the livestock industry will suffer. Realities don't always get through. Chester has more than a passing interest in developments as a farmer himself and hindsight has experienced in the past the devastation an outbreak of this disease can have. I am old enough to remember well the outbreak in 1967 and the effect it had - not just on the farming community but on whole towns and villages. Ask anyone in Oswestry how long it took for the town to recover - if it ever has. I hope PII DO recover and profit as it will at least mean that we still have a pig industry left.
It can't have gone unnoticed that Bullshare was back on the box this week - this time expounding the virtues of ADVFN on CNBC TV. PUGUGLY, Pooh and ExecLine were up early enough to see the early morning piece, described well in Bullie very Bullish. General concensus amongst the BB audience was good. Amongst the MMs, less than enthusiastic, although the share price did tick up enough to cover the previous fall. With enough hints that there is good news to come shortly, I imagine a lot of us will be scouring the weekend press for some positive comment.
With the new US President quickly rattling his military sabre, it was interesting to see if the new presence in the White House would have any impact on the US markets. Looking at the latest updates in * USA STOCKS - February 2001 *, the short-term pattern seems to be coming more complicated, although the general trend is still down. With TechNet closely watching Sun Microsystems this week (who are often an accurate barometer of where the technology market is going) the news he found seemed largely pessimistic. As robber later added from the company's recent briefings, "...US recession is impacting IT spending..." You don't get much gloomier than that - unless you pick up on moonblue's cure - war! After taking in some of that, take a look at SpectoAcc's comprehensive Economic view and it is difficult to see where any good news is likely to emerge from.
myomy was having sleepless nights worrying about big deals behind closed doors. His Director's Dealings query ??? regarded whether or not Directors are (legally) allowed, to trade their shares through a spread betting firm or by using CFD's. ExecLine took the view that it was not allowed but Kayak had some doubts as to whether "spread bets" would be covered by current LSE rules as they are not dealing in a security or stock. Clem wandered off into the desert somewhere to try to find an answer but hasn't been seen since. I guess he must have stumbled upon an oasis which has Guinness on tap and hot and cold running maids to serve it! My oh my! myomy - don't you have anything more exciting to dream about?
Meanwhile, in the Land of the Free.......
Merant watchers were on their toes this week as the company was due to publish Q3 results on Wednesday. MERANT Time to buy tells the story. Despite an upbeat statement on Tuesday, accompanying news of a strategic acquisition and results just a little behind expectations, the share price took more of a dive. wantsabuck wanted to see the results before committing any hard-earned to an investment and Only a month ago, IanDippie was begging for Fitness First to do something, anything.... He summed up his frustration in the thread title - Aaaarrrrggghhhh!!!!!! reetus sounded confident for the sector but it wasn't until this week that anything much happened. Hot_Property was the first to spot take-off as the company announced an additional listing of 45 million shares as part of the preparation for the two for one deal due on 1st March. (Record date is next Wednesday) So, Ian, you won't be feeling so bored now! A healthy 25p gain on Friday.
Gooch & Housego have been in and out of favour on the Bulletin Board for a long time but this week's announced purchase of shares by the company's CEO put them in the "in" slot with a bang. So, no sooner had APSOO started Yesterday & Todays violent price drop", the fall had been reversed and the price was heading back towards 300p - ended the week 282p bid. Good timing by the CEO? ;=) cheve and Skidaddle took advantage of the fall to buy in, seeing support not far away from their purchase price. spats appeared more than a little nervous about the situation, almost anticipating bad news. crazycoops made a good observation following the Director buy. It is unlikely that there will be any major announcements for a while as "....the 'buying window' for directors is normally positioned so that they do not trade on market altering information...." So, I guess a little more patience is required. Difficult to see which way this one will go. The spread is pretty hefty but if Shares Magazine's prediction is close (500p) then there could be plenty of upside. Mind you, Shares Mag do get it wrong sometimes. ;=)
I know there has been a lot of good technical and philosophical stuff on the Bulletin Boards this week but, because it was such a traumatic week for many, I was drawn to hoops' You guessed it time for a laugh thread for a little relief from the gloom. There I discovered my Poster of the Week for this week - all down to a mistake he made which had me in creases. HOWSER step up and take a bow! Posting 22 of the thread is a gem - "I pressed the UPDATE button by accident sorry.I have nothing funny to say at this time." The first real belly laugh I have had in a long time. Congratulations! Please drop me a line with a delivery address and I'll get your prize on its way. And thank you! The ADVFN Who's Who is still growing and is now a quite long list. If you haven't sent me your bio yet, please drop me a few lines about yourself - a full editing service is provided! No e-mail addresses are published unless specifically requested.
Good Hunting!