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According to my calculations, which are probably rubbish, but unlikely to be any worse than most of the stuff that appears on the financial pages, the SP should hit 1189, but probably not for another 6-9 months.
Ashtead/A-Plant bolsters an already modern plant fleet with 400 new machines PMI out of Germany and France are OK CAT have a cash balance of of 6 billion $ and can still pay a dividend after 4 years of a declining mining sector and energy downturn ECB stimulous in December Maersk Shipping/containers reflect the slowdown of global economy Good day all
Caterpillar Qtly data today So long as they are not too bad and so long as demand in developed economis and USA is OK
The URI data will be a po$$itve for the $anta Rally and hoping it will be a good one,but a bearish sentiment prevails USA data: fhfa house price index jobless claims Chicago fed national activity index Analyst comment: ''invest in safe cyclicals'' Good day all
URI up 4%+ in after hours trading
URI tops 3Q profit forecasts EBITDA +50% highest for any quarter in company history It's all go to end of 2015 and 2016 also forecasted to be good and a happy CEO
Earnings will be OK and slightly better than expectations But with such a massive cutback in energy capex it still gives a solid indication to the market It's a roller coaster/sit on the fence kind of stock and money can be made buying at the right time and then wait for the next dip But $ound well run companies With the US economy still in 2nd gear,rental companies are very attractive to companies still cautious on economy USA data: mba mortgage applications eia petroleum figs fed speak US hike March!2016! Good day all
URI Q3 forecasts based on sales per share growth is in the top ten winners of the S&P500 Industrials and Materials sector, according to the following: hTTp://www.marketwatch.com/story/10-winners-10-losers-in-the-long-suffering-industrial-and-materials-sectors-2015-10-07?page=2 So may not be that bad, will know tomorrow evening. DD
Investment manager comment: ''US economy will grow between 2.5/3% for the next two years +'' US data: housing starts red book (predecessor of the beige book) compiled by Fed staff in all states and gives a sound pul$e on economy fed speak EU data: balance of payments german ppi Quiet sp approaching URI earning release on Thursday which is not encouraging Rangebound for months £9 to£10 But $till a tidy earner working the spread Good day all
FLG is a division Ashtead owned A-Plant and has recently made a major investment in it's sales,hire and service of it's lifting equipment portfolio. USA data: housing market data Chinese 3Q GDP released on Monday and maybe another 7.00000000000000000000000000000000!!! It could be a wild week Good week to all
Check out the correlation(graph)on URI:AHT against CAT ie Catepillar and Catepillar against the MSCI index ie emerging market index The downturn in CAT is being hit by overseas demand However the Market is throwing in the machinery stocks/rental-USA- into the same mix As one analyst commented that URI sp will not recover till CAT sp starts to rise again USA data: jolts industrial production Chicago fed speak on inflation expectations Good day all
Job data and Fed speak Editorial comment: ''Deflationary environment globally with a big contribution from China'' Fed hike 2016 sometime!!!!! Good day all
A-Plant's PSS Hire wins '5' year framework agreement with Scottish water USA data: nfib small business index Germany: zew data ppi rpi UK data: ppi cpi rpi brc sales monitor China data weak It's another bouncey day Good day all
Q 3 earnings release on 21st October
Editorial comment: ''Looks like traders have decided to make some money as hike is coming in 2016'' Portfolio managers / fund managers have clients that want to make money and a decidedly positive sentiment has returned,but volatility is here for the long haul and senor Draghi says get used to it JP Morgan report today Futures etc acro$$ the Pond/EU are nice and GREEN so far,which is a positive indicator for a quiet Monday and plenty of highway ahead us Good day all
As one poster said a couple of months ago that ''Ashtead group CEO said they are not ''doer uppers'' And if these companies do sell,they won't be selling choice locations that's for sure. Have a good dAY
Sunbelt Rentals recently starts construction on a new branch in Racine,Wisconsin offering around 200 units of equipment and on completion will be it's 5th location location/facility in the the state. Share price broke through the previous resistance of around £10.15ish and should continue + on Monday on a quiet day for economic announcements. OPEC recent comments on an improvement and more stable crude market in 2016 with non-OPEC producers production falling off in a more balanced market with better demand will also be a boost hopefully for rental sector. URI Q3 released after closing bell today and should meet expectations. Some Fed officials also speak today Quality of Q3 company earnings will decide how market proceeds Good day all
Any views on whether Ashtead might seek to acquire any of its smaller competitors eg HSS and Speedy share prices have taken fallen massively ?
Hedge Fund Manager comment: ''Among the factors contributing to market volatility are huge amounts of short term move money such as ETF's,high frequency trading and other leveraged strategies without regard to long term economic fundamentals and a lot of undervalued stocks with sound fundamentals are now there for the long term investor'' AHT/URI are undervalued stocks and if market gets more settled the share price will continue to rise into xma$$ and with winter temperatures on the way should be favourable for crude and a rate hike off the table all helpful. What the market will be looking at closely is how URI is coping with the significant reduction in energy capex. More private money is needed like pension funds to invest long term in what is the best economic asset any country has, ie the infrastructure,highways,rail,bridges,waterways,airports,telecommunications and the US infrastructure is fertile ground and also UK for such investment. Fed Hike: What concerns Fed are the emerging market companies that have borrowed heavily and a lot of these companies have not hedged. Fed hike 2016 sometime! and data dependent USA data: import/export price indeces UK data: balance of trade Good day all
Editorial comment: ''Rental sentiment is positive with moderate expansion which is optimal for company growth and no over investment in fleets''. Markets are decidedly more positive with an uptrend and ideal for URI Q3 release which will be satisfactory given its size. USA data: mba mortgage applilcations consumer credir job creation crude data
United Rentals release their 3 Q earnings on 14th after closing bell Lets hope their satisfactory Rental rates are forecasted to be better in 2016
...on heavy.. should read ''and heavy''
UK construction product manufacturers both light on heavy are on 90%capacity on strong domestic demand and rising wages and look forward with upbeat expectations into 2016. Exports however weakening due to strong £ UK data: industrial production manufacturing production Germany: industrial production USA trade deficit widens due to strong dollar and exporters shedding jobs China: Fund Manager comment: ''China manufacturing experiencing the loss of the high end-automation- moving to USA and EU and low end to Bangladesh and Indonesia'' Volkswagen recalling autos in Jan ' 16' Oil surging Fed Hike March!!! 2016 Good day all Good day to all
Market comment: ''....rate hike probably 2016 and a accommodative Fed is the cue for stocks more than the fundamentals of the economy''.... USA data: trade defecit Analyst comment: ''everybody is depending on the Fed,but what is needed are policy makers to help out and greater capital investment'' China: Main benchmark market indices have an average P/E of 49! Analyst comment: ..''in 1990 emerging markets were having a rough time,but S&P 500 had a stellar year''.... Good day all
Construction comment: ''US construction has risen 13.7% in 12 months to end of August.Highest in 7 years. .......Non residential construction has seen activity across the board to about 12.3%'' ''Shortage of skills may contribute to more expensive and longer times for completion of project'' US data: ism services ism non manufacturing EU data: pmi/ism data retail sales UK data: pmi General sentiment reflects a positrive outlook on equities. Companies forming bases before 3Q earnings release. Good day to all