The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Bloody he'll I made a right ricket swerving YU group which I had back in the 400s not so long ago for an investment here! God knows why i sold.....
Oh well no point in crying over spilt milk but jeeez I sure can pick'em!!! We are in purdah as far as MSi is concerned and have a lot of catching up to do
even to get back to fair value whatever that means?
In further news Chemring has been handed nearly £90m to boost defence production in Europe, £57m for ammunition and missiles for Ukraine. Also a £32m grant from the Norwegian Govt to increase production in the country. A Nato spokesperson said Chemring Nobel was a key strategic supplier to Nato.
Shares gained 5% to 366p on 273m outstanding.
Issues 2917
Advances 1430
Declines 1386
U/c 101
NH 141
NL 39
T/vol(bn) 4•0
DJ +76 (38,790)
SP +32 (5149)
NS +177 (17,985)
R2 -5 (1282)
WTI $83
10 y/tb 4•330%
------------
MSCI(W) +18 (3381)
Gold Bugs -2 (230)
---------------
Latest :- Vix 14. Brent $87.
Gold $2155. Copper $4•099.
Palm $1110. Silver $25•115.
$1•271. €1•169.
FF -25. DF +3.
Morning all.
Asian mrkts opened this morning on the defensive following broadly negative cues from Wall St on Friday. The MSCI Asia index falling 1•4% its bigest wkly loss in 2 months set the tone for mrkts in Asia this morning.
Many Asian Central Banks will be holding policy meetings this week starting with the BOJ which is widely expected to raise int rates for the first time since 2007 bringing the curtain down on 7 years of negative rate policy. Also in an unprecedented move Japan's bigest companies agreed to raise wages by 5%.
In early trading the Nikkei is up over 880 at the morning break with investors piling back into equities after recent losses. Gains were seen across the sectors led by industry heavyweights and tech stocks. The 225 closed up 979 (39,687).
Elsewhere in Asia some green shoots of recovery in China are slowly becoming visible.
Four key indicators will be reported this week, retail sales, business investment, production and unemployment numbers. Capital is no longer flooding out and the SHCOMP is up 3% ytd. However house prices fell at their fastest rate in a year, properties are still in intensive care and new bank lending growth to the lowest on record.
In Sydney the Reserve Bank of Australia is expected to maintain its hawkish stance on rates. The ASX closed up just 4 points in lack'lustre trading. Elsewhere NZ, HK, and Malaysia are in the red while Soeul and Taiwan are ahead.
Latest :- Vix 14. Brent $86.
Gold $2146. Copper $4•107.
Palm $1115. Silver $25•230.
$1•273. €1•169. 10ytb 4•300%
FF +13. DF +40.
Morning all.
DJ -191 (38,715)
SP -33 (5117)
NS -207 (17,808)
R2 +6 (1288)
WTI $81
10ytb 4•318%
-----------
MSCI(W) -19 (3363)
Gold Bugs +1 (233)
----------------
Close :- Vix 14. Brent $85.
Gold $2156. Copper $4•121.
Palm $1115. Silver $25•405.
$1•273. €1•170.
Yen 149. Yuan 7•20
FF +7. DF -15.
Morning all
MSi nos for wk 11.
Wk11
820-850
L/yr 510
H 935
L 443
-------
Trds 55
T/vol 61,700
Buys 39,400
Sells 22,300
Buy % 64
Av trd 1122
-------------
Ytd
---
MSi -5%
100 u/c
All u/c
Aim -3%
250 -1%
Gold +4%
Oil +11%
Palm +19%
Silv +6%
Cop +6%
On Wall stocks showed a lack of direction in trading amid renewed concerns about the Fed postponing its first rate cut to after June following the release of hotter than expected producer price inflation data for February as the cost of gas and food rose
more than expected.
The major averages all moved to the downside on the day led by Nvidia falling $36 to $873 and other techs extending losses. Tesla ($162) fell for the 4th straight session at a 10 month low. Selling pressure remained light and the indexes closed well off their worst levels at the close.
Nyse data
Issues 2910
Advances 599
Declines 2246
U/c 65
NH 139
NL 59
T/vol(bn) 4•8
-------------
DJ -137 (38,906)
SP -15 (5150)
NS -54 (18,015)
R2 -21 (1281)
WTI $81
10 y/tb 4•285%
------------
MSCI(W) -14 (3382)
Gold Bugs -3 (231)
----------------
Latest :- Vix 14. Brent $85.
Gold $2168. Copper $4•112.
Palm $1115. Silver $25•320.
$1•274. €1•171.
FF -6. DF -49.
Morning all.
Goodness me outside the spread, whatever next? I'm going for a lie down, cannot last.
DJ +38 (39,043)
SP -10 (5165)
NS -151 (18,068)
R2 +1 (1302)
WTI $80
10ytb 4•204%
----------
MSCI(W) -1 (3396)
Gold Bugs +5 (235)
---------------
Latest :- Vix 14. Brent $84.
Gold $2171. Copper $4•045.
Palm $1105. Silver $25•190.
$1•279. €1•169.
FF +9. DF +61.
-----------
Nyse data
Issues 2923
Advances 1678
Decliners 1138
U/c 107
NH 83
NL 23
T/vol(bn) 4•3
------------
The 500 is in its longest up stretch since 2018 (without a decline of 2%) yet many investors think while the fundamentals are positive they still don't justify current valuations and for S&P to have a strong H2 corporate earnings growth will need to accelerate.
There are some key events coming this week. US PPI nos, retail sales, initial jobless claims and business inventories on Thursday. China property prices on Friday will be closely examined along with BOE inflation survey next week.
US industrial production and consumer sentiment nos from the University of Michigan are out Friday.
The Pentagon pulled out of a plan to spend $2•5bn on a chip grant to Intel, stock fell $2 to $43. Dollar Tree plans to close about 1000 of its 8000 locations in an effort to improve profitability. Recently the company was slapped with a $42m fine for selling cosmetic items out of a rodent infested warehouse. Stock slumped $22 to $129.
And Eli Lilly the worlds largest drug maker is joining Amazon ($177) to expand its nascent business of dispensing weight loss drugs direct to patients via the Amazon on line pharmacy, which will include its hugely popular injection pen.
Big Pharma endorsing Amazon as a distribution partner bolsters Amazons role in healthcare. Expect many more of these arrangements. Shares in Eli Lilly gained $3 to $758.
Morning all.
After a couple of recent wobbles in the MSi sp, it's back to trading the spread so all's well in the world. Vols this week continue to favour the 'buy' side (c.20,500) v (c.14,900) as they have over the last month
Wk 7-10
Sp 850-810
---------
Buys 164,400
Sells 126,200
Trds 363
-----------
Just to emphasise the nos are hard to interpret as every buy has a sell and vice versa but loosely indicates the mood of investors whether bullish or bearish. One would expect to see shares rise in bullish times excepting MSi where they have fallen 40 during wks 7-10.
DJ +235 (39,005)
SP +57 (5175)
NS +267 (18,219)
R2 -4 (1301)
WTI $78
10ytb 4•143%
-----------
MSCI(W) +30 (3397)
Gold Bugs -5 (230)
---------------
Nyse data
Issues 2918
Advances 1553
Decliners 1260
U/c 105
NH 181
NL 25
T/vol(bn) 4•1
------------
Latest :- Vix 14. Brent $83.
Gold $2158. Copper $3•943.
Palm $1050. Silver $24•380.
$1•279. €1•171.
FF +5. DF u/c.
Morning all
DJ +47 (38,770)
SP -6 (5118)
NS -67 (17,952)
R2 -6 (1305)
WTI $78
10ytb 4•100%
----------
MSCI(W) -13 (3367)
Gold Bugs +6 (234)
----------------
Latest :- Vix 15. Brent $82.
Gold $2175. Copper $3•919.
Palm $1017. Silver $24•655.
$1•282. €1•172.
FF +54. DF +55.
------------
Nyse data
Issues 2908
Advances 1413
Declines 1397
U/c 98
NH 127
NL 19
T/vol(bn) 4•9
-------------
Morning all
Tokyo is trading much lower today giving up gains in the previous session the 225 hit a days low of 38,589 down 1100 at lunch. Profit taking in tech started the rout across the market with market heavyweights Softbank, Honda and Toyota being heavily sold. Banks and major exporters were unwanted and among junior technologies there was a rampant selling.
At the close the Nikkei had lost 949.
Elsewhere in Asia NZ, SK, Taiwan and Singapore are all lower but HK bucked the trend up 220 with Shanghai 9 better on bargain hunting. Indonesia is on holiday. Australia's ASX200 is down 150 following the Nikkei slump in Tokyo. Miners, oils and techs are on offer with few takers particularly those companies going xd. Sydney closed at 7698 down 148.
Latest :- Vix 15. Brent $82.
Gold $2178. Copper $3•894.
Palm $1017. Silver $24•485.
$1•285. €1•175. 10ytb 4•07%.
FF -25. DF -35.
Morning all.
Wk 10
Global
Ytd
---------
DJ + 3%
SP +7%
NS +7%
R2 -1%
TK +19%
HK -4%
SH +2%
SHZ -6%
SK +1%
TAIX +10%
KL +6%
SP -3%
JSK +2%
Gold +6%
Oil +6%
Silv +2%
Cop u/c
Palm +9%
DJ -69 (38,723)
SP -34 (5124)
NS -280 (18,018)
R2 -1 (1311)
WTI $78
10ytb 4•080%
-----------
MSCI(W) -11 (3380)
Gold Bugs u/c (229)
----------------
Close :- Vix 15. Brent $82.
Gold $2179. Copper $3•891.
Palm $1017. Silver $24•525.
$1•286. €1•176.
Yen 147. Yuan 7•19.
FF -8. DF +21.
As expected volumes and deals of the last few days could not be sustained after all this is not a Ftse 100 stock where every Tom dick and Harry are piling into Rolls Royce.
Buying shares in an Aim mini conglomerate takes a deal of faith given there are few "come and buy me" pointers and Warren Buffet hasn't signed off on the deal. Add in the bad reputation of the sector which has to be said is somewhat deserved that's a red flag to most investors.
Whatever, the pros and cons of an Aim investment, MSi fell 30 on the week the shares closing at 810-845.
Wk10
MSi
Ytd
---
810-845
L/yr 535
-------
T/trds 169
T/vols 114,500
Buys 74,200
Sells 40,300
Buy % 65
Av trd 678
Av£ 1690
-------------
Ytd
Msi -5%
--------
Aim -•5%
100 -1%
250 -•5%
All -•5%
--------
Morning all.
The Defence of the Realm is safe in Tory hands. Yea, what about the £29bn Black hole in defence spending, highlighted by the Public Accounts Committee leaving us reliant on military allies?
There is no credible plan to fix the hole. The Govt have no interest in the defence of our country hoping our allies will come to our rescue should we call, by then we'll be lucky to have a serviceable gunboat or any front line soldiers other than 'old crocks' (reserves).
I can't see it improving under a Labour Govt not noted for its whole hearted support of our armed forces. Check out Starmers "5 bold missions" none of which included Defence.
MSi regained some of the losses from Wednesdays sell off on the 2nd day of high volumes. A total of c.48,000 shares were traded taking the weeks total to over 100,000 on c.142 bargains dealt. Shares ended at 825.
Has to go down as an anomaly
unless we hear to the contrary today and Friday is not noted for important news to be announced by the board.
The 500 climbed to a record intraday high of 5154 at lunch on the back of chip stocks extending their rally and investors remaining upbeat about the prospects for a June rate cut as inflation continued to decline. Non farm payroll data is out on Friday & will offer further clarity on the state of the labour mrkt. By the close all the major indexes were up the S&P to a closing record (5157) and 8% ahead this year.
Most megacap growth and techs recouped Tuesdays losses with Meta and Nvidia to the fore. Meta put on $18 to $514 while Nvidia continued its unstoppable run adding $20 to $947 at close, breaking records at every turn and has soared 277% this past year.
Others in the limelight inc Micron Tech ($99) and Super Micro ($1192) (it builds servers for Nvidia). Super Micro has skyrocketed at a breakneck pace this year on back of Ai and clients of Schwab pushing the stock.
From a standing start of $9 in 2007 Super M has gained 12,606% all of the gains coming since Jan 2022 and is now valued north of $64bn placing it at no 285 in the most valuable global companies list.
Away from tech mania, Victoria's Secret ($17) everyone's fave lingerie stock slipped 30% on weak forward guidance, a dip in sales & a downgrade from JPM to 'neutral.' Kroger ($55) the grocery giant reported strong F/Y growth and profits nos as it fought to acquire rival Albertsons ($21) which the Fed Trade Commission is trying to block on competition grounds.
Finally welcome Sweden which becomes the 32 member to join the NATO alliance after 200 years of
neutrality. It brings to NATO a very capable Armed Force and a first class defence industry.
--------
Nyse data
Issues 2910
Advances 2005
Declines 804
U/c 101
NH 298
NL 20
T/vol(bn) 4•1
------------
DJ +130 (38,791)
SP +53 (5157)
NS +280 (18,298)
R2 +10 (1312)
WTI $80
10ytb 4•084%
-----------
MSCI(W) +34 (3391)
Gold Bugs +4 (229)
---------------
Latest :- Vix 14. Brent $83.
Gold $2160. Copper 3•919.
Palm $1012. Silver $24•525.
$1•281. €1•170.
FF +8. DF -3.
Morning all.
A lot more interest today (42) bargains dealt by mid afternoon. Mostly on the buy side, which I will update at close of play. Wouldn't usually do this but the volume of business could indicate moves on the horizon?
I'm still trying to fathom the sudden upsurge of interest in a tiny backwaters stock with a hodgepodge of assets, albeit one with a jewel in its crown that has suddenly become flavour of the week? I know enough not to argue with the tape.
Will it pan out? The metrics say its well undervalued but I'm long past this "stock is a raging buy" and all the BS talked about 'story' stocks that lead one down blind alleys.
Decide, take a position and await developments is my advice (not that I usually give any) being a lousy tipster, but on this occasion ....my money is where my mouth is. I have over 80% of my assets in MSi (I know I'm nuts) so it's a home 'home' run while I collect those dividends.
Evening all.
It's all b'ye b'ye b'ye to sell, sell sell this morning in the first half hour of trading. Always good to start the day in a positive mood as yesterday's action looks like proving to be an anomaly.......... dare i say that?
At c.100p off early January's 900-940 high there's certainly room for investors to build up a decent holding even if the MMs are keeping a rein on the sp. The tight spread is proving a barrier to overcome as most of the trades are c.800-820.
We shall see as the day progresses whether a break out is likely. I think we need some more concrete news for that to occur as buy volume is having little effect on the sp.
Morning Tav. Did your move into jds work out for you? I remember you said you might switch from MSi to JDS....
I dunno what got into investors yesterday, 72 trades was way above previous knowns, so something odd occurred.
Whatever the 55p fall in the shares seemed well overdone on sells just outpacing buys on the session though total volumes at nearly 42,000 was a big increase on Tuesdays c.11,300, (11) trades.
I topped up but not enough to move my avc dial. Be interesting if today sees anything approaching yesterday's deals and vols or was it an out-of-the-blue one off event instigated by the MMs?
I find that difficult to believe but something happened! Perhaps today will reveal the cause of all the excitement?
DJ +76 (38,661)
SP +26 (5105)
NS +120 (18,018)
R2 +4 (1302)
WTI $79
10ytb 4•122%
-----------
MSCI(W) +20 (3357)
Gold Bugs +4 (225)
----------------
Latest :- Vix 14. Brent $83.
Gold $2155. Copper 3•880.
Palm $1012. Silver $24•265.
$1•273. €1•168.
FF +2. DF -26.
Morning all.
Time to add imv.