profits ahead of last years.the company has 80% interest in a joint venture with china national petroleum corp(cnpc).market makers bought a lot of stock on friday followed by big buys on monday.profit taking on tues am then buyers back in pm.any views?

FTO putting together a decent run over the last couple of days. Is this the support required to launch an assault on the highs of 10p?

I think if we get some positive news the sp will fly through 10

There might be news on the JV coming or an update on gas, this one is like some others, it moves up ahead of news and then moves again on news.

Could be a strong run to year end.

does appear to be something in the wind. A day of heavy trading, just need some news early next week to keep momentum going.

tau the momentum should continue next week, and yes some news would certainly give it a boost up.

Some good news just out for many stocks dealing in China, but in particular for FTO and ACHL which I am following closely now;


China's yuan at post-revaluation high of 8.0798/dollar

BEIJING (AFX) - China's yuan was at a post-revaluation high of 8.0798 to the
dollar on the interbank market in the morning session, traders said.
'The yuan is now quoted at 8.0798/99,' said a Beijing-based foreign exchange
trader, after the currency moved past the 8.08 level.
After months of intense US pressure, China on July 21 freed the yuan from an
11-year-old peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate 2.1 pct against the US currency.
The yuan closed at 8.0825 yesterday, appreciating 0.34 pct since the
revaluation.
In the past month, the yuan has traded between 8.0805 and 8.0877.
Last Thursday, the foreign exchange regulator announced it was introducing a
market maker system - a move seen as a precursor to liberalizing the currency.
The US Treasury released a report overnight which said it did not view China as a currency manipulator because of 'initial steps' in moving towards a floating currency.
allen.feng@xinhuafinance.com

this has got to be the most boring share up 1%...down 1% why not just leave it where it is ....would be nice just to see a gentle rise up to 10p ...at this rate it will take 10yrs to get there lol

not so boring now but in wrong direction

biffa18 - I'll admit that FTO has been pretty dull for about a year or so now. But I bought in at 1.5p and the ride up to 10p was pretty fun. Static at the moment but more to come I feel.....

Queen1
yep yr right im in at lower as well but would be nice to see some pos news sometimes ...i went into this and ashtead recently ,now if it was to do a ashtead ,now that would be nice ! i see they dropped it yest to let someone in with 400 + k

Indeed. I have to admit that with all of the favourable conditions around in its markets at present I'm a little surprised that FTO hasn't kicked on. I still think it's there, just not sure where it's hiding!

anyone know why there is no trade in FTO this morning

SHANGHAI (AFX) - China will soon scrap controls over prices of aviation fuel
and reform the pricing of gasoline and diesel by linking them to prices of crude
oil, the official Shanghai Securities News reported.
The newspaper was citing an official with the National Development and
Reform Commission (NDRC), the country's powerful economic planning body.
The new pricing mechanism will more closely reflect crude oil prices, the
paper quoted Liu Shujie, the head of pricing department of the micro-economics
research institution under the NDRC as saying.
The newspaper also said that curbs in the sale of jet fuel are being
relaxed. Currently, airlines buy jet fuel mainly from the state-owned China
Aviation Oil Holding Co at a price set by the NDRC but other major oil companies
are being allowed to take a share of the market.
Liu also said the authorities will link wholesale prices of gasoline and
diesel on the domestic market to crude oil "indirectly".
The price changes will be more frequent than the current monthly
adjustments, he added.
Liu did not give a specific time for the reform or any indication of how
closely gasoline prices will follow global crude oil prices.
China has set caps on oil products on the domestic market to deflect
inflationary pressure and cushion consumers from the full effects of soaring
global energy prices.
But with crude oil at current high levels on global markets, the pricing
mechanism is cutting deeply into profits of the country's refineries.
China's Ministry of Finance said yesterday that it is offering a one-off
state subsidy of 10 bln yuan to the country's big oil refiner Sinopec Group,
which has been squeezed by mounting crude oil prices coupled with tight caps on
prices for refined oil products.

Fortune Oil on the move at last??

Its moving well again.

Yuan rises to record dollar level (4th Jan 06)

http://news.bbc.co.uk/1/hi/business/4579502.stm

Like the falling riskgrade of this stock, been on watchlist for a while but now in my portfolio....

explosive: I've been in FTO since the 1.5p days, saw it hit 10p and now floating between 5-7p. What makes it a buy for you now?

Bought in @ 5.91, sp to me is very undervalued considering growth of China. I also think the sp will soon return to around 8p. I have noticed that no RNS or Trading updates have been released. Not sure why however can see no reason for poor performance... RiskGrade is currently valued at 174, I see no reason for this to rise.

Fair enough. As a long-term holder it's easy to get a little jaded by the FTO performance at times but I'm still hangin' on in there!