Crocodile
- 17 Nov 2003 22:47
Premarket Futures |
FTSE +25 |
DAX +25 |
DOW +16 |
S&P +1.6 |
Nasdaq +3.5 |
News: |
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U.S. stocks closed off their lows Monday but still in
negative territory for the sixth out of seven sessions, as investors
continued to take profits and in response to international terrorist attacks
over the weekend.
Vodafone reported a 19 percent increase in first-half
underlying earnings and announced a 2.5 billion pounds share buyback
programme.
Earnings rose 19 percent to 6.62 billion pounds, compared with 10 analyst
forecasts ranging from 6.15 billion to 6.78 billion. The interim dividend
rose 20 percent to 0.9535 pence.Burberry posted higher than expected first-half earnings growth and
appointed Stacey Cartwright as new chief financial officer to replace Mike
Metcalf. The company notched up a 21 percent rise in earnings to 66.9
million pounds, up from 55.1 million last year.EasyJet reported a worse-than-expected
28 percent fall in annual pre-tax profit but said it was cautiously
optimistic about its performance this fiscal year. They said its fall in
pre-tax profit to 52 million pounds for the year to September 30 reflected
the Iraq conflict in the first half, the costs of integrating the
acquisition of rival budget carrier Go and other one-off items.
Dixons said it had seen
no pick up in the pace of sales growth though profit margins were still
slightly ahead year-on-year. Some analysts had expected sales growth to have
picked up since the September trading update.
GWR radio said its first-half profit climbed on strong
local advertising, with the improving trends expected to continue in
November.
The company, which owns Classic FM, said pre-tax profit for the six months
to September 30 was 6.4 million pounds from 2.2 million pounds in the
year-earlier period. "Group radio advertising revenues were up by 16 percent
year on year in October and at this stage we expect that these revenues will
be up by 9 percent year on year in November," the company said in a
statement.
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Calendar:
United Kingdom |
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United States
(GMT) |
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Europe & World (GMT |
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600 Group (I), Burberry (I), CML Microsystems (I)
Detica Group (I), Glotel (I), GWR Group (I)
Imagination Technologies (I), Intelek (ITK.L)
James Cropper (I), TBI (I)
Victoria (I), Vodofone Group (I), Whitehead Mann Group (I)
Easyjet (F), Enodis (F), Viridian Group (F)
Wigmore Property Investment Trust (F)
Alea Group - IPO trading date.
Profile Therapeutics (Update), HICP for October
RICS Survey for October,
Retail Price Index for October
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Home Depot Inc.
1:30 Core CPI Oct - 0.1%
1:30 CPI Oct - 0.2% |
Air France (Q2) after its merger with KLM
Finnair (I)
Wednesday
Credit Agricole and Swiss insurance firm Zurich report quarterly numbers
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Melnibone
- 18 Nov 2003 09:06
- 11 of 34
Morning all.
Nice pullback in the US was followed through on the
Nikkei.
This has given a positive start on FTSE up to R1.
Not sure how much there is to go today. US will probably
start positive on a follow through but may start the
decline again. If it declines it may do so after the FTSE
closes which would leave the FTSE high and dry and opening
up lower tomorrow.
Bearing this possible scenario in mind, I will be wary of
buying any stocks this afternoon and may look to taking
my profits on BT.A today.
LLOY and MKS are struggling to get away from their support,
even though it is a higher open day.
Melnibone
Melnibone
- 18 Nov 2003 09:22
- 12 of 34
VOD has managed to get through the 129p resistance.
If it closes above there and the US loses its negativity,
then there is a chance that it will lead the FTSE up to
a close above 4400 later this week.
Vod is a heavy influence on the FTSE, what we need is the
big oil and drug stocks to turn positive and help give the index
a push which will turn sentiment positive.
As usual, all depends on the US.
Melnibone
Melnibone
- 18 Nov 2003 09:45
- 14 of 34
Hi little woman.
I'm confused on BT.A. If I'm still in them on Ex Divi day
I'll find out. ;-)
Nice to see the pensioners are happy. In general, the mood
in the country isn't that bad. Problem is, the market wants
to take some profit and have a correction. It's trying to find
a reason. That's what is making everyone wary.
Trend is still up and you fight a trend at your peril, but at
resistance levels like these after such a good run-up, I still
feel caution is required.
I would dearly like to see a correction that holds at either
4200 or 4000. I feel that this would give us a good chance
for a Christmas rally and end the year positive.
We don't always get what we want.
Melnibone
Druid2
- 18 Nov 2003 10:05
- 15 of 34
EZJ looking a bit sick this morning after results but the future looks promising. Added to my longs at various prices down to 272.5 so now hoping they will gradually increase to the target price of 500 - may take a few years !!!
Melnibone
- 18 Nov 2003 10:09
- 16 of 34
I posted this chart last week which shows how MKS is a bit of
an oddball when it comes to FTSE stocks.
As you can see in this update, the divergence is still progressing.
If you are thinking of buying in, it is worth looking at this 5 year
chart rather than the usual yearly one.
In march FTSE was at 3300 and MKS was at it's year lows.
FTSE is now above 4300 and MKS is approaching its years lows
again.
If they break, you are looking at sub 250p. Be careful buying
because they look relatively cheap.
Melnibone
Melnibone
- 18 Nov 2003 10:33
- 18 of 34
Hi Druid2, sorry to hear about your EZJ's.
You asked for an opinion last week and I gave mine.
Doesn't mean that I was right but if this is a long term investment
then why not wait to see how deep the valley is going to be before topping up?
You can always buy again when it goes back up the other side.
If it goes up from here then you've already got some.
As you can see above, there is good support at 250p.
You never know, you might get lucky and buy there instead of
higher levels as you follow it down.
Melnibone
Melnibone
- 18 Nov 2003 10:49
- 19 of 34
Ref MKS, the shares came back from 2000 due to the recovery story.
Feeling now is that this has ran out of steam.
Knitware is a problem as seen in recent articles.
Results in clothing were due to squeezing suppliers
margins and profits, not sales growth.
Food sales will always be fighting Tesco et al.
Furniture sales? I don't believe the hype.
This is not a bad company, but the market wants growth
or it will rate it as a yield type utility.
Just my own opinion, so doesn't mean that it is right.
The market will show us its view via the chart.
Melnibone
Melnibone
- 18 Nov 2003 11:04
- 20 of 34
Bears are really getting stuck into LLOY today.
Wonder how far they'll take it down?
Time for a coffee and finish re-laying my living
room carpet.
See you all when the US opens.
Melnibone
ajren
- 18 Nov 2003 11:50
- 21 of 34
Nov 18-Vodafone
Interim results -7 a.m.
Parts 1,2,3,4,5,6.
Nov 17 - Director Shareholding
Melnibone
- 18 Nov 2003 15:44
- 23 of 34
Well, MKS has now hit the 270p support.
It spiked below this for a couple of days last March,
but to all intents and purposes this is the March lows.
Now to see if it holds.
Melnibone
Melnibone
- 18 Nov 2003 15:46
- 24 of 34
AVZ testing 400p support again, trouble is Spitzer
is still on the warpath.
Melnibone
Melnibone
- 18 Nov 2003 15:48
- 25 of 34
Dow and S@P have filled the gap open, now we'll find
out where the US really wants to go today.
Melnibone
zarif
- 18 Nov 2003 16:00
- 26 of 34
just to say hello to you melnibone as havenot spoken to u 4 a while. I have this gut feeling that it might slip lower and test the 9625 area. Anyway i hope it does as my shorts will sing if not dance.
meanwhile letting the market guide my moves.
rgds
zarif
Melnibone
- 18 Nov 2003 16:19
- 27 of 34
Hi Zarif,
You should always let the market guide you.
The market is never wrong, it just is the market.
For the DOW and the FTSE to advance, the S@P
needs to get above 1050 again.
Until then, I'll just do the same as you and mainly
keep scalping intraday.
Holding the one tempory long, BT.A, but if that doesn't
move back into the trading range soon I'll take the profit on
it and forget it.
Melnibone
ajren
- 18 Nov 2003 17:30
- 28 of 34
Ref :-mks
See tread i.e.Nov 17 they bought 1,000,000 of their own shares @ 280.6916