RE: Is this morning's surge6 Mar 2017 17:32
This is why I can never understand the stock market. LAM gaps down on poor results to 23rd Jan to 93.58p. Then surges to 111p today to make a new 52 week high. John Kennedy, the Executive Chairman was hardly glowing in his last statement after luke-warm results. Still, if it rises I can't trade against flow.
"The board recognises and welcomes recent change in oil & gas market sentiment and the likelihood of stronger product pricing in 2017, especially as the year elapses. However, we also recognise that all our customer 2017 capital budgets are already established and in place, and that there is little expansive flexibility in the associated expenditures. For these reasons, the Company continues to believe that 2017 will prove a particularly cautious environment, and will continue to maintain tight control over expenditure and expenses and, more especially, continue to position Lamprell for work in future years."