Investors Chronicle - magazine and web content back issues from April 2009:
Laura Ashley shows resilience.
Apr 01, 2009 ... Byline: Jonas Crosland RESULT: Laura Ashley counters falling sales with more store openings Laura Ashley has been hit by the downturn in consumer spending although last year's performance was something of a mixed bag for the clothes and furnishing chain. Turnover ...
Speedy shares race ahead.
Apr 01, 2009 ... Byline: Algy Hall Speedy Hire's shares surged on news of renegotiated debt facilities News that embattled equipment hire group Speedy Hire has renegotiated the covenants on its banking facility saw its shares surge almost 30 per cent. The facility, which ...
Directors draw in their horns.
Apr 01, 2009 ... Byline: Knox D'Arcy Investment Management DIRECTORS DEALINGS: Discretionary purchases of shares fell sharply in the first quarter Directors of UK listed companies do not, in general, believe that an equity recovery is imminent. That's the message from our analysis ...
FirstGroup steals a march on rivals.
Apr 01, 2009 ... Byline: Douglas McNeill BROKER VIEW: Douglas McNeill of Blue Oar Securities explains how one operator has pulled ahead of the rest It may be too early to think that the rise we have seen in some transport shares recently is a genuine, well-founded recovery. But the ...
Home economics don't stack up.
Apr 01, 2009 ... Byline: Claer Barrett ANALYSIS: Mortgage approvals up, enquiries up, housebuilding shares up. It's spring in the housing market. But none of it will last long The Spring Selling Season, as it used to be known, was traditionally the busiest time of year for the ...
Velti moves up.
Apr 01, 2009 ... Byline: Graeme Davies RESULTS: Mobile marketing continues to boom, but can it last? Mobile marketing specialist Velti enjoyed a surge in revenue last year, but the change in its business model away from licence sales to more hosted services and revenue sharing joint ...
Wheels come off transport.
Apr 01, 2009 ... Byline: Julian Hofmann SECTOR FOCUS: The wheels looked to have come off transport companies but a surprising split is emerging as investors get to grips with what the recession really means for the sector It became clear just before Christmas that transport companies ...
What route now for the car industry?
Apr 01, 2009 ... Byline: Julian Hofmann ANALYSIS: The outlook is grim for the UK car industry as the last rites are slowly read at General Motors The brutal sacking of Richard Wagoner from General Motors is now seen as the prelude to the US government forcing GM into controlled ...
Abattoir awaits for Cattles.
Apr 01, 2009 ... Byline: Jonas Crosland SUMMARY: Cattles faces oblivion as bad loans mount up Troubled lender Cattles took another step down the path to oblivion when auditing firm Deloitte estimated that the provider of non-standard loans will need to make a further GBP700m of ...
Shire ties up deal with GSK.
Apr 01, 2009 ... Byline: Julian Hofmann TIP UPDATE: Shire concludes a co-marketing deal with GlaxoSmithKline to sell Vyvanse to adults Shire Pharmaceuticals' shares soared 8 per cent after the company announced a co-promotion deal with GlaxoSmithKline to market the attention-deficit ...
Concateno deal on the cards.
Apr 01, 2009 ... Byline: Graeme Davies TIP UPDATE: Concateno hints at a resolution to long running takeover talks Offer talks at drug-testing business Concateno drag on, almost nine months after the company first received approaches. But there could be light at the end of the tunnel ...
Barclays rejects state asset support.
Apr 01, 2009 ... Byline: John Adams TIP UPDATE: It remains doubtful that the bank can permanently avoid state involvement. Barclays has decided not to take part in the government's asset protection scheme (APS) - which effectively insures banks' worst assets. And that stance does ...
Sale of the XXI Century?
Apr 01, 2009 ... Byline: Claer Barrett SHARE TIP UPDATE: Debt burden could cause Ukrainian developer to collapse Aim-traded Ukrainian property developer XXI Century http://www.investorschronicle.co.uk/Tips/Sell/TipsOfTheWeek/article/20080501/cb1723c6-12b0-11dd-a42f-0015171400aa/XXI-Ce ...
Diamond miners remain upbeat.
Apr 01, 2009 ... Byline: Martin Li ANALYSIS: Miners are optimistic although diamond prices remain depressed Conditions for diamond miners remain very challenging, but several smaller players have released encouraging updates in the past week and with the big boys having slashed ...
Going still good for Clapham House.
Apr 01, 2009 ... Byline: Algy Hall TIP UPDATE: Clapham House is yet to feel the strain of the downturn. Clapham House, owner of restaurant chains Gourmet Burger Kitchen (GBK), Tootsies and The Real Greek, has said that full-year results for the year to the end of March will meet ...
Melorio set to beat expectations.
Apr 01, 2009 ... Byline: Algy Hall TIP UPDATE: Melorio continues to go from strength to strength despite the market's fears For a company with exposure to the troubled construction sector, the full-year update from training group Melorio was unusually upbeat, with results expected to ...
Polo refocuses on uranium.
Apr 01, 2009 ... Byline: Martin Li TIP UPDATE: Polo invests in Mongolian joint venture Polo Resources and its directors have acquired 6.8 per cent of Extract Resources, owner of the world-class Rossing South uranium project in Namibia. Polo joins major Extract investors Kalahari ...
Altona makes loss but moves on.
Apr 01, 2009 ... Byline: Martin Li TIP UPDATE: Altona makes good progress although key milestones remain Altona Energy reported a pre-tax loss of GBP828,000 for the six months to 31 December 2008 as it continues to develop the Arckaringa coal-to-liquids and power generation project ...
Icap is in fine shape.
Apr 01, 2009 ... Byline: Jonas Crosland SUMMARY: Icap expects to meet market expectations Shares in inter-dealer broker Icap rose by nearly 12 per cent after the world's largest inter dealer broker reiterated that profits for the year to March will be between GBP336m and GBP356m. ...
FSA gets tough on insider dealing.
Apr 01, 2009 ... Byline: John Hughman IN BRIEF: The City watchdog has secured its first criminal prosecutions for insider trading Tough words from the Financial Services Authority (FSA) have finally turned to tough action, after the City watchdog secured its first criminal ...
Calculator proves Premium Bond odds are worst ever.
Apr 01, 2009 ... Byline: Moira O'Neill Following changes to the prize fund in April, only one person in 30 wins anything at all A unique probability calculator has found that the new Premium Bond prize level introduced on 1 April 2009 gives investors the worst odds ever of winning ...
SEVEN DAYS.
Apr 01, 2009 ... Byline: Graeme Davies Seven Days G20 meets The world's most prosperous nations came together in London this week to thrash out a co-ordinated response to the global economic slowdown. Barack Obama and Gordon Brown met ahead of the summit and stressed the ...
Disaster for income drawdown pensioners.
Apr 01, 2009 ... Byline: Moira O'Neill Quantitative easing is bad news for retirees in income drawdown Pensioners in income drawdown are being hit by a dramatic drop in the Government Actuary's Department (GAD) rate. This is severely curtailing their ability to take income, at a time ...
Bargain basement property.
Apr 01, 2009 ... Byline: Claer Barrett Desperate sales tactics could yet drive UK house prices down lower This week marks the arrival of a new stage in Britain's housing crash - the arrival of an aggressive US auction house that specialises in flogging repossessed homes. ...
Pound to rebound as eurozone slumps?
Apr 01, 2009 ... Byline: Chris Dillow ECONOMICS: It may be bad over here, but it's worse over there. So can the euro stay so strong? Sterling could rise against the euro, as it becomes increasingly clear that the eurozone economy is in an even bigger mess than the UK's, some ...
Tax Tip: Marry.
Apr 01, 2009 ... Byline: Maike Currie TAX TIP: Saying "I do" gives you access to more tax benefits than you may think Married couples and civil partners enjoy a number of tax reliefs over those who cohabit, given that transfers between spouses are non-taxable. David Searle, tax ...
IC Trades: Media's decline to continue.
Apr 01, 2009 ... Byline: Dominic Picarda TRADING IDEA: The sell-off in this cyclical industry has much further to run A key long-term moving average is keeping the lid on media's attempts to reverse its downtrend. It has consistently failed to penetrate its 34-week ...
IC Trades: Euro parity beckons for sterling.
Apr 01, 2009 ... Byline: Dominic Picarda TRADING IDEA: One-for-one in this key exchange rate pairing is now more likely than not A Euro costing GBP1 is a very real prospect. The single currency's (91.7p) recent up-moves against sterling were thrusting and decisive, typical of a ...
City Trades: Possible bottom for US shares.
Apr 01, 2009 ... Byline: Tarquin Coe TRADING IDEA: A rare signal could have marked the end of the bear market in American shares S&P has avoided catastrophe by the skin of its teeth, says Tarquin Coe at Investors Intelligence. By ending the first three months of 2009 above ...
Vote down the RBS remuneration report.
Apr 01, 2009 ... Byline: Alistair Blair COMMENT: "Why would you have a bonus system resting on annual awards if you cannot judge the results on an annual basis?" In the brave new world, how much should bankers earn and how quickly should they get their hands on it? What kind of say ...
North sea fever driving oil sector.
Apr 01, 2009 ... Byline: Daniel O'Sullivan ANALYSIS: Investors are buying into oil stocks again - but not all of them are benefiting Oil prices established a floor on 18 February, since when benchmark Brent crude has gained 20 per cent to trade around $48 per barrel. And main market ...
F&C inclusion is a bullish signal for markets.
Apr 01, 2009 ... Byline: Moira O'Neill INTERVIEW: Jeremy Tigue, manager of Foreign & Colonial Investment Trust, talks to Moira O'Neill about promotion to the FTSE 100 Foreign & Colonial Investment Trust has been promoted to the FTSE 100 index at the latest quarterly reshuffle. This ...
New vision for Vislink.
Apr 02, 2009 ... Byline: Malar Velaigam SHARE TIP: Vislink (VLK) BULL POINTS: a Resilient end markets a Growth in Middle East and Asia a Large backlog of orders BEAR POINTS: aaUS digital switch revenues ending a ...
IG looks a solid bet.
Apr 02, 2009 ... Byline: Jonas Crosland SHARE TIP: IG (IGG) BEAR POINTS: a Falling returns on cash a Tighter credit control has hit business levels BULL POINTS: a Cash rich - no debt a Increasing diversity of revenue streams ...
The kings of yield.
Apr 02, 2009 ... Byline: David Stevenson FEATURE: Dividends are vital for the long-term investor. But the number of companies that can be trusted to pay them is shrinking. Dividends matter. Virtually every long-term study of total returns indicates that dividends account for almost ...
LOWDOWN: Enhancing shareholder value.
Apr 02, 2009 ... Byline: Martin Li How companies provide many happy returns to their investors Shareholder value is the term used to describe the total return that shareholders gain from investing in a company. It comprises dividends received, capital gains from an increase in share ...
H&T's prospects are gold plated.
Apr 02, 2009 ... Byline: Graeme Davies SHARE TIP: H&T (HAT) BULL POINTS: a Trading is strong a Store portfolio growing quickly aaShares rated below quoted rival BEAR POINTS: aaVulnerable to falling gold price aaDebt ...
Central Rand Gold on target.
Apr 02, 2009 ... Byline: Martin Li SHARE TIP: Central Rand Gold (CRND) BULL POINTS: a Substantial gold resource a Fast-track, low capital cost production a Low risk, staged development a Financed to self-funding operations BEAR ...
Great prospects at Great Portland.
Apr 02, 2009 ... Byline: Claer Barrett SHARE TIP: Great Portland (GPOR) BULL POINTS: a Robustly financed a GBP327m of undrawn facilities to exploit downturn a Resilient West End portfolio a Exciting future development projects ...
Air Partner taxies for take-off.
Apr 02, 2009 ... Byline: Julian Hofmann SHARE TIP: Air Partner (AIP) BULL POINTS: a Lots of cash, no debt a Competitors going bust a Secure dividend BEAR POINTS: a Tough aviation market a High fixed costs ...
Critical period for Getech.
Apr 03, 2009 ... Byline: Nigel Bolitho TIP UPDATE: Crystallisation of a number of deals will determine Getech's 2008-09 results Getech, which analyses potential drilling targets for oil companies, reports that licensing of its gravity and magnetic data was "good" in the six months to ...
Good order levels at Judges Capital.
Apr 03, 2009 ... Byline: Nigel Bolitho Judges Capital is benefiting from its businesses being in niche scientific areas. A year ago not many UK companies could claim that their order books were almost double those of early 2007. Even fewer firms today can state that they started 2009 ...
The Active vs Passive debate continues...
Apr 03, 2009 ... Byline: Maike Currie THE BIG THEME: As the old investment debate rages on, many argue that the time has come for the two investment approaches to meet in a core satellite investment approach. Bankers were not the only ones abandoning their business attire for ...
Strange times for shares.
Apr 03, 2009 ... Byline: Chris Dillow The performance of our benchmark portfolios highlights some weird moves in the market. So far, 2009 has been a very strange time for equities. In the first quarter, the FTSE 350 fell 10.2 per cent. You'd expect, therefore, that our low-risk ...
Sterling and shares.
Apr 03, 2009 ... Byline: Chris Dillow FOREX: Sterling is weaker than it should be. But is this because of the economy - or the stock market Is there a sterling crisis? It sounds stupid to ask now that the pound is showing signs of stabilizing after last year's tumble. But in fact, it ...
Bond International is shaken but stirring.
Apr 03, 2009 ... Byline: Nigel Bolitho RESULT: Bond is making good progress in diversifying away from its traditional recruitment market Bond International 's share price has been severely shaken - it peaked at almost 230p in late 2007 - but it has begun to stir in 2009. At first ...
Better news from Aminex.
Apr 03, 2009 ... Byline: Nigel Bolitho RESULT: Aminex wants to maximise US oil and gas output to finance exploration wells in east Africa Aminex has a more exciting future than the share price might indicate. It has a bit of cash and, like lots of other oil minnows, all eyes are on ...
Medicsight disappoints.
Apr 06, 2009 ... Byline: Malar Velaigam TIP UPDATE: Losses widen as Medicsight spends to secure sales Higher sales, marketing and research and development costs have widened losses at medical imaging software provider Medicsightto GBP8.2m for 2008, from GBP7m a year ago. ...
Bateman Litwin needs litigation solution.
Apr 06, 2009 ... Byline: Nigel Bolitho TIP UPDATE: Bateman Litwin's acquisition of Delta-T has not gone well It seemed almost a deal made in heaven in July 2007 when Bateman Litwin announced the takeover of leading US-based ethanol technology provider Delta-T for around $118m ...
Afren turns on the taps.
Apr 06, 2009 ... Byline: Martin Li TIP UPDATE: Afren begins substantial oil production, but delays impact results Afren has become a significant oil producer. Delays to the completion of an Ivory Coast acquisition and a slow start to Nigerian production led to lower-than-expected ...
Aim's GBP9bn property black hole.
Apr 06, 2009 ... Byline: Claer Barrett SECTORS: There are some worthy investment causes buried in the rubble of Aim's property funds One hundred and sixty property companies. Over GBP9bn of equity raised. And assets in 42 different countries across the world. What does it all add up ...
At these odds, Premium Bonds, 'You're fired'.
Apr 06, 2009 ... Byline: Moira O'Neill Premium Bonds, which give you the chance of becoming a millionaire, are the UK's most popular savings product. But they've become a bad bet. A unique probability calculator has found that the new Premium Bond prize level introduced on 1 April ...
May day signals.
Apr 06, 2009 ... Byline: Simon Thompson COLUMNIST: Our companies editor looks into seasonal and market trend analysis to try to pin point when the next downleg of the bear market will begin Last week I argued that the odds strongly suggest that the current strong equity market rally ...
West China Cement expands.
Apr 06, 2009 ... Byline: Nigel Bolitho RESULTS: China's huge fiscal stimulus package is good news for West China Cement. Size matters and it's a humbling thought that West China Cement (WCC) could soon be supplying nearly as much cement to central China's Shaanxi province as the ...
Airlines struggle for altitude.
Apr 06, 2009 ... Byline: Julian Hofmann ANALYSIS: A busy week for airlines with passengers down and bosses out Declines in premium rate passengers of 13 per cent for British Airways set the scene for a depressing week for airlines, as unwanted planes are mothballed at regional ...
Broker View: Property activists get stuck in.
Apr 06, 2009 ... Byline: Mike Foster, Fairfax real estate analyst Property activist have aggressively targeted Aim-listed property companies, but Fairfax analyst Mike Foster says they will need to work hard if they are to exit from these investments with a profit. Out with the old is ...
Retail rollercoaster.
Apr 06, 2009 ... Byline: John Hughman THE BIG MOVERS: The general retail sector has confounded expectations in the first quarter, but can the rally continue? We British have often been derided for our tendency to indulge ourselves with the luxuries in life, even if that mean dipping ...
Rolls-Royce deals big.
Apr 06, 2009 ... Byline: Julian Hofmann IN BRIEF: The deals keep coming for Rolls-Royce Rolls-Royce continues to prove its ability to attract big money after it won a $350m (GBP237m) contract with Mexican airline, Mexicana, to service and maintain its engines. Rolls had prudently ...
Defensive bias boosts Alliance.
Apr 06, 2009 ... Byline: Mark Robinson FUND PROFILE: Alliance Trust's has pared down its equity portfolio It has been a challenging few months since Katherine Garrett-Cox took over the reins at Alliance Trust in August last year. She became chief executive at a time when Alliance was ...
Bezant flies below the radar.
Apr 06, 2009 ... Byline: Martin Li TIP UPDATE: Bezant Resources is quietly proving up a sizeable copper-gold deposit Bezant Resources continues to define the resource at its substantial Mankayan copper-gold project in the Philippines, as it nears completion of a two-year drilling and ...
Kalahari boosted by Rossing South.
Apr 06, 2009 ... Byline: Martin Li TIP UPDATE: Kalahari continues to benefit from the Rossing South uranium project Kalahari Minerals continues to benefit from its 38.85 per cent interest in Extract Resources, which owns the increasingly attractive Husab uranium project in Namibia ....
Morson well placed to ride out storm.
Apr 06, 2009 ... Byline: Nigel Bolitho RESULTS: Morson seems better placed than many recruitment businesses to ride out the recession. Morson's share price has fallen as steeply as those of any recruitment business over the past 12 months. But it's a rather different operation to ...
Week ahead: 14-17 April.
Apr 06, 2009 ... Byline: Jonas Crosland OUTLOOK: A summary of key company announcements expected in the coming week Welcome to the week ahead, our summary of the key company announcements expected next week. Companies are no longer obliged to notify the Stock Exchange of results and ...
Northern buys out partner in Italy.
Apr 06, 2009 ... Byline: Martin Li TIP UPDATE: Northern acquires ATI to strengthen its position in Italy Northern Petroleum has announced a recommended share offer for ATI Oil. Northern already owns 37 per cent of ATI and, under the deal, ATI shareholders will receive one Northern ...
Jamie Oliver contract boosts Churchill China.
Apr 06, 2009 ... Byline: Nigel Bolitho TIP UPDATE: Churchill China is coping well in difficult trading conditions and offers investors a bumper dividend yield. Churchill China's latest results look depressing. But the small rise in the dividend indicates that it's not all so black and ...