Inchcape Share News (INCH)

Fenner is seeing delays in some projects but at least for now some of its major markets are stabilising, to a certain extent. Its engineering products division will be affected by slippage on one large contract in the North Sea, while work on some off-shore wind farms in Germany has been delayed. However, coal and iron ore production in Australia is steady, in thanks, partly, to the now weaker Aussie dollar. Meantime, and in North American coal, which is catered to by the company's mining products arm, stocks are low after the cold winter, although clients continue to be cautious.In any case, what makes Fenner attractive is its exposure to a recovery in mining and oil and gas, given that so much of its sales come from the 'aftermarket' supply of parts, as opposed to so-called 'green-field' projects. "The long-term story is still there, but I see little chance of outperformance for now, given the uncertainties," writes The Times' Tempus. Car dealer Inchcape achieved solid full-year results on the back of strong demand in emerging markets for the premium car brands which it sells. In fact, the vast majority of its profits originate in fast-growth markets such as Chile and Peru, as well as the Asia Pacific region. Nonetheless, its second-hand car business could see some pricing pressure. The shares have had a strong run over about the last two years. Yes, at its results presentation the company rolled out research pointing to growth rates of 21% in global sales of new cars over the next five years. That is all well and good. However, doubts that emerging markets may stall due to the US Federal Reserve's 'tapering' has led The Daily Telegraph's Questor team to downgrade the shares to 'hold'. Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.AB