This week's guest is The
Playboy who has kindly stepped into
the breach and gives his own thoughts on the week
ahead.
If anyone else would like to be the guest next
week please let us know.
Monday 14 June
Finals Majestic Wine -
Majestic Wine has seen enormous gains through
high like-for-like sales growth from the opening
of new stores. The market is expecting strong
profits growth and is also hoping for a nice
dividend hike. Majestic believes there is still
scope for expanding its concept.Finals Merrydown - The
drinks manufacturer issued a lively trading
statement in January, celebrating the fact that
Shloer, its adult soft drink, was outperforming
its peers. The groups premium cider brand,
Merrydown Vintage, slightly improved in a sector
that is declining. Results should be above
expectations. Tuesday 15 June
AGM House of Fraser - House of
Fraser has engaged in a significant
reconstruction programme for the next three to
four years, which should enable the group to
report strong earnings growth. However, the
dividend has minimal cover and is unlikely to be
increased for several years.Finals PHS Group - The
workplace support services group is expected to
report results in line with management
expectations today, with turnover 18% ahead at
165 million and operating profits of 50
million. PHS has seen particularly strong
performances in its washrooms and dustmat
divisions.Wednesday 16 June
Ex-dividend 3i Group - The
venture capital giant enjoyed a year of strong
performance in 2003, returning 531 million, or
18% of shareholders funds. The dividend was
duly increased from 13.5p to 14p, following three
years of substantial change for 3i, and a year
that saw almost 1 billion of investment.EGM SSL International -
The Durex manufacturer has exchanged conditional
contracts with Regent Medical to sell off its
surgical gloves and antiseptic business, in the
final phase of its transformation into a consumer
products group. Shareholders will be asked to
approve the deal today, which some have
criticised as being too cheap.Thursday 17 JuneInterims Gooch and Housego
- This group is actually a manufacturer of
acousto-optic devices and custom optical
components and investors will be hoping
for signs of growth, which were somewhat lacking
in its last set of finals. But the group claims
to be in an enviable market position, with
several world-leading products.AGM Laura Ashley -
Shareholders will witness the end of an era today
when the last of the Ashley dynasty leaves the
flagging fashion house. Nick Ashley, son of the
late eponymous founder, has decided that he will
leave the board. The group is now largely owned
by Malaysian investors and finding more success
with furniture than fashion.Friday 18 June
EGM Cardpoint - The provider of
electronic payment transactions, is snapping up a
number of cash machines from HBOS. The Board has
conditionally agreed to buy, subject to
shareholder approval, 816 cash machines in
locations away from bank branches for a maximum
of 75 million.AGM Tesco - Todays
meeting should be a fairly upbeat affair as the
management boasts of recent success. However, it
could all turn very ugly when London Animal
Action arrives to protest at the
supermarkets sale of whale and dolphin meat
in their Japanese stores. Shareholders, you have
been warned.
ThoughtsThe FTSE-100 this week has
broken out of the month long trading range of 4395
to 4470 possibly forming a new range of 4520
to 4460.
Clear downtrend resistance off the April high,
May high and June high so far, a break of 4520
could lead to 4570 then the
April highs only if the DOW
stays in its current up trend (see DOW
chart), if not weakness below support at 4460.
On a 5-day chart up trend off Friday low intact
above 4482, downtrend off
Wednesday high at 4492, two key
levels for Monday!
This week is also equity and index options expiry
on Friday, so market possibly held up into the
end of the week?
Have a good weekend - The
Playboy
All the
above comments are purely a personal opinion and
no investment advice is intended. Please do your
own research
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