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Editorial comment: ''Market share of the top 5 players is still below 30% of the total potential US rental market.So there is still plenty of organic growth available as the market consolidates in the next 5 to 10 years. Growth can be spectacular but losses can also be significant when an economic shock hits. Recognising where your market is,how your customer base is structured and being aligned to service that customer base as efficiently and effectively as possible is crucial to success. In a business where 80% of costs are relatively fixed in the short term,understanding how to grow isn't an optional extra - it's about staying alive'' Ashtead CEO Drabble comment: (2013) ''We have the luxury of being able to buy our equipment on very short lead times and therefore the concept of an annual capital budget is alien to us'' AHT sp looking feisty at the minute and £12+ is not that far away But will there be a few more dips? A strong possibility Good day investing to all
Market strategist comment: ''With jobless claims at a 15 year low sets a positive tone for labour market momentum over the coming months to be sustained'' Asset manager comment: ''Investors looking at Europe for investment opportunities are concerned about Greek situation and are holding off until a clearer picture develops,and further to that the Greek finance minister's comments today does not contribute to any agreement in the near term'' ''Greece's GDP is about 1/3 of the GDP of Los Angeles'' German finance minister is happy with the scenario of a referendum in Greece which will ask the Greek electorate if they are prepared to cooperate with reform/and if not Greece has to go USA data Friday: industrial production ny empire state manufacturing survey university of Michigan sentiment capacity utilization net foreign purchases german wholesale price index Good day investing all
The equipment rental industry will set an industry record for revenues in 2015 according to the latest industry forecast from the American Rental Association, despite reduced demand for equipment in oil patch drilling sites. Rental companies historically are able to adapt to changing market conditions, shifting inventory and moving equipment to where demand is greater. Increased activity in construction as well as party and event market segments are offsetting the decline in opening new sites for drilling. The new quarterly ARA forecast from its ARA Rental Market Monitor subscription service has been modified slightly from February with total revenue growth of 7.9 percent expected in 2015 to reach a record $38.5 billion in the United States, including construction/industrial; general tool, and party and event. ARA’s current five-year forecast calls for steady growth of 7.2 percent in 2016, 8 percent in 2017, 7.9 percent in 2018 and 6.8 percent in 2019 to reach $51.3 million. “Even as several forces, including harsh weather, held back U.S. economic growth in gross domestic product to 0.2 percent in the first quarter, total rental revenue was up 4.9 percent in the same time period and is expected to exceed 9 percent in the second half of the year,” said Christine Wehrman, ARA’s executive vice president and CEO. Global forecasting firm IHS Economics and Country Risk, which compiles data for ARA, is now forecasting construction/industrial rental revenue to increase 8.2 percent in 2015 to $25.9 billion, with general tool projected to grow 7.9 percent to $9.8 billion this year and party event to show a 4.7 percent increase to $2.7 billion. “The equipment rental industry will achieve its new peak level as the result of a prolonged gradual improvement in the economy as a whole, and construction, industrial and consumer markets in particular,” said Scott Hazleton, managing director of IHS. “There was also some lift from energy markets, which are slowing, but the majority of the growth has come from solid fundamentals. Given a current level of activity based on solid ground, an economy that continues to improve will lead to rental revenues that are achievable and lasting.”
Editorial comment: ''Retail sales disappoint,but later as consumer is confident that oil has steadied at around $70,then those wallets will open up'' Oil analyst: ''This price rally is premature and pice will not reach $100 again till 2025'' BOE: Forecasts GDP of 2.5% for 2015 Chief economist comment: ''Last secular bull run ran from 1982 until 1999,we have another 6 years at least this time around'' USA data: ppi core ppi initial claims bloomberg consumer comfort index UK data: rics housing market survey Sentiment generally is that Fed is not in a rush to hike and if there is one in the autumn,it will be a credibility hike of about 1/8 to a max of about 1/4 Good day investing all
Chief economist comment: ''The rise in bond yields in part stems from growing fears surrounding Europe's potential recovery with worries that the ECB's QE program will fall short and lingering Grexit anxieties'' USA data: retail sales crude inventories german 1Q gdp UK data: unemployment wage data boe inflation report chinese industrial production retail sales Good day investing all
50 DAY moviong average is around £11.15i$h and looks on at the minute Fund manager sentiment equities ok with a sound company Recent broker consenus opinion for year end 2015 is £13.50ish Bonds/Greece/Fed making investors nervous Fund manager sentiment : ''we are in transition'' Volatility I LOVE IT Good and carefull day all NO SELL fcst
Market comment: ''uncertainty over Greece,concerns over a bond market sell off, falling oil and profit taking all add to a dull monday'' USA data Tuesday: treasury budget statement UK data Tuesday: brc sales monitor industrial production manufacturing production AHT looking steady.It has di$hed up a lot of dips so far this year, with about a month to go before Q4 earnings release the market will start to move up sp. However I would like a good old fashioned steep dip again and get back in and leave it bake till Q4 which market already knows will be good. S&P 500 earnings have not exactly been stellar but far removed from the -5% drop in revenue that some were predicting. Some old hands are talking of a decent Q3/Q4. Most recent Bkr/fcst for AHT is £14.50 Good day investing tuesday
Editorial comment: ''One in 5 millenials think that their social networks will be the hub of all their financial decisions.Banks and financial institutions recognise that they have to structure and focus on the coveted millennial demographic. Millenials are more likely than previous generations to turn to social media to make their financial decisions via smartphones/tablets. Banks need to adjust and accommodate/ profit to this trend'' China cuts interest rates for the 3rd.time in 6months. USA Data Monday: treasury notes/bills UK data Monday: eurogroup meeting all day Monday and Greece tops the menu boe interest rate decision
Editorial comment: ''Construction industry adds 45,000 jobs in April. Construction unemployment in US is now at a 9 year low of 7.5% and general unemployment in US is at a 15 year low. Construction employment is now growing at more than double the growth rate for non farm employment. Public sector-heavy civil engineering,roads ,bridges etc- added 8400 jobs and non residential speciality trade contractors added 20000 +jobs. Non residential building construction employment is up 2.4% to date and is varied as to where most activity is as opposed to broad based countrywide. Washington/Congress needs to act soon on the Workforce Development Plan states wide for construction training and education programs before firms struggle to find enough workers to meet demand and industry associations are pushing hard on this. While the labour situation,erspecially skilled tradesmen is not as bad as 2006 the demand for skills is there now and growing and Washington needs to make training/education even more of a priority.
A-Plant has rolled out a number of Tool Hire Express stores in and around city centres in recent months,providing a hire/sale of small equipment and consumables for building professionals and DIY users. Locations have been of prime importance for parking space and delivery convenience leading to time and cost effectiveness. The latest Tool Hire Express store was opened in Park Royal which will service north and north west London this is in addition to another Tool Hire Express store located in London City. A-Plant's operation generally does a lot of business in London and the Park Royal location is a key growth area with lots of potential.
Market comment: ''jobless claims at 15 year low and equity market is showing its resilience as fundamentals remain good'' ''if job number is very good then you have a sell off as rate hike could be june'' ''analysts are looking at about 200,000 to 220,000 jobs for april'' USA data Friday: non farm payroll unemployment average hourly earnings wholesale inventories UK data: trade balance election outcome As one commentator put it that after the great depression in the dirty thirties interest rates remained low until the early 1950's good investing all
Market comment: ''Stocks recovered from heavy losses at closing bell as market weighs comments by Fed chair and ADP figures ahead of friday's non farm payrolls amid global sell off in government bonds'' '' rate hike in Q4 or early 2016'' USA data Thursday: initial claims consumer credit Bloomberg consumer comfort index EU data: factory orders Germany retail sales ger/eu pmi construction Germany UK elections uncertainty will refect more on ftse 250 Good day investing all
Editorial comment: ''Weak trade causes sell off as trade defecit jumps to 51.4$ billion in march hitting a six year high and making about a 0.5 point correction to real GDP growth'' USA data Wednesday: non farm productivity unit labour costs adp employment crude oil inventories Fed chair janet yellen speech in Washington UK data: pmi services URI sp over 100$ on strong volume Good investing all
Market comment: ''Factory orders up by 2.1% and best figure since july 2014'' ''As the earnings season progresses,the amount of S&P 500 companies that have reported so far,over 70% of these companies have beaten market expectations'' Oil analyst comment: ''Oil rally is premature and fundamentals are bleak'' Small business comment: ''56% plan to grow over the next five years,and those seeking loans are also investing in training as a priority'' USA data Tuesday: trade balance ism non manufacturing treasury notes/bills EU data: producer price index UK data: pmi construction Recent broker forecast gives a price of $117 for URI and looks like it may go through the $100 and upward to about $105+ US non farm payrolls on Friday should generate a number of around 265,000 as some analysts predict. Good day investing tuesday
USA entrepreneurs: Recent survey found 72% are bullish on economy and expect to hire new employees during the next 6 months. 86% of entrepreneurs expect to grow revenues in 2015. Availability of credit is improving. USA data Monday: goods orders EU data: pmi manufacturing pmi manufacturing Germany rertail sales Germany Chinese manufacturing PMI is out before opening bell London/EU and a positive data rebound would be bullish for Asian equity indices and also for FTSE 100 mining stocks and start off with a buzz for FTSE 100 index. Good day investing all
If Buffett was such a smart cookie he'd have chosen Ashtead not Tesco when looking around for a UK stock to buy! This incredible share is up 1000% in five years, and I've been lucky enough to have most of my portfolio in it. I'm now getting slightly conflicted about continuing to hold. The company says it can grow the Sunbelt operation another 3.6 times (http://www.ashtead-group.com/lib/docs/042404-analystandinvestormeetingjanuary2015.pdf, final slide), however this will mean the fleet also growing by 3.6 times, higher borrowings also, all of which leaves the share price more exposed as the cycle advances. Top of cycle P/E ratios can go very low, and Ashtead's dropped to single figures in 2009! The company is promising to return to cash to shareholders as capex eases, however I can't see this compensating for the drop in the SP.
In reply to a question on a market correction and was he worried? ''Anybody that his concerned about a market correction should not own equities and invest in something else.We invest long term on sound fundamentals'' ''Does anybody worry about the value of their house on a day to day basis,good stocks go up and down every day and I don't worry,it's a market, that reacts +/- on a daily basis'' Recent Berkshire Hathaway get together was attended by over 40,000 shareholders.
Warren's economic outlook for US economy/rate hike: ''Rail car loadings are falling off somewhat,but the economy is not going backwards at all,autos are very strong and housing a little bit better and we have been seeing the same things now for the past 5 1/2 years''. 'They talk about double dips,but the country is doing well although we would like to see more growth.But 2% a year if you have1% inflation means that in a generation things improved 20% per capita and that means another $10000 GDP per capita in one generation and that's fabulous'' ''It will be hard for Fed to bump up rates here in US with negative rates and QE in Europe and that has been my view for some months now''. Berkshire Hathaway profits are up 20% yoy Warren Buffet steered well clear of the dot com mania a decade + ago and invested in companies with $ound Fundamentals. We need more of the same elk. URI awoke with nearly a 3% rise in sp and AHT sp coming £orth again even with disappointing PMI's on both sides of the pond. However the driver making a contribution was good consumer confidence/sentiment in US. USA data Monday: factory orders total vehicle sales treasury notes/bills Good investing to all
Market comment: ''Investors appear to be on edge and lacking conviction as to the most prudent near-term course of action and understandably so'' City comment: ''Equity investors should shrug off concerns on the strength of global currencies and focus on the recovery in economic growth which will push stock markets higher'' USA data: construction spending ism manufacturing index domestic vehicle sales Michigan sentiment UK data: manufacturing pmi consumer credit mortgage approvals Good day investing all
Market comment: ''Fed will be watching closely the housing market and consumer spending as we move from here'' ''S&P will finish year about 2350 and a growth rate from 2Q onwards of about 3% +'' USA data: initial claims Chicago pmi personal income/spending EU data: unemployment UK data: consumer confidence Fed statement is keeping its faith in a growing economy and doesn't rule out June for liftoff,but economists are now looking at Autumn or if at all/2016 Good day investing all
Market comment: ''Consumer confidence down due to softness in labour market'' USA data: US gdp crude inventory mba mortgage applications pending home sales UK data: nationwide house price index EU data: German cpi m3 money supply business climate indicator Fed will be accommodating. 2Q data down the line will give a better picture,but Q1 so far not as negative as forecasted. AHT sp she's a BOUNCEY Girl,and di$hed up a lot of dip% Greece have jetti$0ned finance game player-a positive sign Has anybody seen Putin? The fact that Germany/ECB delayed so long in QE is now a massive plus because a lot of decent restructuring and reforms have been done prior to its recent launch. Good day investing to all
Recently A-Plant was crowned hire company of the year award (for 2nd. time in 3 years) at the prestigious Hire Association Europe awards of excellence 2015. A-Plant's accommodation division has placed its largest ever single order for static and mobile welfare units to enhance and grow this division in meeting and satisfying client demand.The order is worth over £ 3 million.
Market comment: ''Big decoupling in recent weeks between US equity flows and prices as investors cut their exposure to stocks to the tune of 79 billion $ in the past 9 out of ten weeks and risks will grow of a correction in the absence of fresh inflows in the coming weeks'' ''Any one that tells you that new highs are abnormal or a reason to sell is a fool'' or has a great big lolapolluza of a CFD on that is going to take him to a barbecue party USA data: consumer confidence case shiller house prices treasury notes/bills UK data: gdp prelim After FOMC Wednesday and sounds good to market AHT sp should go £orth again as its looking fairly comfortable at the minute. Good day investing to all
Market comment: ''Last weeks durable goods figures dimmed the prospects f a 2Q bounce'' ''2Q GDP possibilities will be clearer after this weeks FOMC,PCE and GDP data'' ''Oil will continue to be volatile and the next 10$ could well be down'' Hillary Clinton for her presidential campaign is going to spend over 2 billion $ ,and Obama's 450 million budget spend for ''creaking'' infrastructure is in political limbo,is'nt that a beauty,roll on 'land of the brave. Economist comment: ''Germany starts 2Q on strong footing'' Editorial comment: ''16% of STOXX 600 companies that have reported 1Q,6% have beaten expectations'' USA data Monday: treasury notes/bills services PMI Apple also are amongst the earning releases today. Good day investing to all.
Editorial comment: ''Construction firms added jobs in 41 states YOY to end of march 2015. In this time period 280000 jobs were added to the construction sector. Unemployment rate in construction is presently at 9.5%. Demand for residential properties lukewarm. Congressional action on transportation and infrastructure projects remains gridlocked/stalled. Downturn in oil sector capital investment -from 200 billion$ a year ago to an estimated 80 billion$ for 2015 not helping headcount''. Durable goods data released Friday am was up 4%,but the investment component of data declined for the 7th. consecutive month. Market/economist sentiment is that Fed will hike from September or December,but is data dependent. Economist comment: ''As economy/gdp expands more of a budget will be available for public/infrastructural projects and bringing in and accommodating private investors like pension funds etc has to be a priority''