Member Info for chilting

Playing devils advocate here, it has to be said, its a great shame that AB cannot find a productive use for EP rather than selling the vessel.

The main thing that Moody's identify is risk - anything other than a downgrade has to be good news - in this case they even said a few good things about M&S, including favorable liquidity - in a sector so badly affected by Covid and with the competition falling like flies, that has to be good news.

Correction to that - maybe back to Suez.

It looks like they are preparing to tow the ship to the lake, north of the blockage.

Has been moved.

On a point of interest, one of the tugs heading for the scene today, ALP Guard, was involved in AK's transit from Singapore to the North Sea - at the moment she is in the Red Sea, heading north to the canal and is due to arrive this afternoon.

https://www.marinetraffic.com/en/ais/details/ships/shipid:758868/mmsi:244830812/imo:9398539/vessel:ALP_GUARD

I think that is quite normal Neil - they sort of pre-empt if they have to make a decision - otherwise they just roll it over with a few observations.

A trend is established - the question is will the decline of Covid change that trend - I would say, it may do for customers at the lower end of the social scale but most of the middle class - who represent the large majority of the UK population - simply like the convenience of online.
Think about it - visiting a store is a chore, especially if you cannot find what you want

Sorry, disregard that last comment, I read the report wrong - at least they had some positive to say about food and Ocado Retail.

The main thing is that Moody's expect M&S to bounce back to its pre Covid credit quality by the end of the next fiscal year in March 2022 - this is actually quite a big deal and a big vote of confidence in the board - it probably also accounts for the rise in the SP on Friday - as it comes from highly regarded Moody's, lets hope it scares off the shorts.

"Marks & Spencer p.l.c.'s (M&S or the company) Ba1 corporate family rating (CFR) reflects the company's multi-year trend of declining same-store sales and profits and Moody's expectation that M&S will not return to its pre-COVID credit quality by the end of its next fiscal year ending March 2022. Successive government-mandated closures of non-essential businesses in the UK have led to a fall in sales and profits at the company's Clothing & Home (C&H) division, despite concomitant strong growth in online sales. The company's return to pre-COVID credit quality is linked to the uncertain recovery of its C&H division amid a highly competitive sector, and a large exposure to city centres and shopping malls where footfall could remain depressed for a protracted period. More positively, Moody's expect M&S's profits to keep benefitting from the company's strength in the Food division whose performance has been boosted by the pandemic and the partnership with Ocado. In combination with cost saving measures and operational efficiencies, this has enabled M&S to maintain a strong liquidity position since the onset of the crisis."

Bottom line at the moment is that Brent is firmly tied to the vaccine roll out - and fluctuations are simply following the news flow.

The good news is that the vaccine roll out everywhere, even in the EU, looks likely to accelerate over the coming weeks.

This article regarding the Novavax vaccine is very encouraging for example -

https://www.gazettelive.co.uk/news/teesside-news/production-novavax-vaccine-gets-under-20237098

It looks to me that the consultants Labyrinth Consulting Services, Inc., who are US based, just took a few figures out of the air from other regions to complete their analysis.

Its becoming increasing common practice now gkb - ISA holders would have the option to bed and ISA after the event - I guess its also a cheaper option.

The RNS says an Open Offer.
What Enquest could do, as its a relatively small amount and AB and family have committed to buy, is to get commitments from other large shareholders and then conduct an Accelerated Book Build.

The ABB would be announced by RNS after the market closed in the evening, the whole process would be completed by the following morning.

Anyone can buy shares, except for ISA's, including existing shareholders via an online portal run by Primary Bid. You basically buy the shares blind without knowing how many you will get - applications are scaled back according to demand - the offer price is also fixed by demand, so you don't know that until the portal closes - usually after just a few hours around 8pm.

The few times, I have seen it happen, I have never participated, has left most investors feeling fairly ****ed off.

The recent placing has knocked the SP back - there was dilution after all, and CWR isn't worth more now than it was before the placing.

The big push up will come when news comes from China regarding the Weichai Power factory announcement to produce SteelCell® SOFC systems - THAT IS THE GAME CHANGER! - and that is why Tudor Brown has joined the board with all his ARM Holdings experience.

AJP
I am not saying don't take the risk - simply bank a bit of profit when the going is good.

Investment its not just about the company you are investing in - its about the market, the commodities they use and access to those commodities.
ITX is all about Itaconic Acid - demand is growing all the time with new uses also being found, add to that that most of the production comes from China and you have the potential for problems in the future - hence the reason to diversify my holding by slowly top slicing over a period of years - it never pays to put all your eggs in one basket.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5815973/

After the recent placing its not surprising that the SP isn't going anywhere, it may be a while before we see a resurgence, but the market cap is still very healthy at £2,096m.
Long term holders will focus on the market cap, potential and commercial prowess of CWR, rather than short term fluctuations - sentiment is still high.

SP is yo-yoing around all over the place at the moment - I guess the shorts are having a field day and Berenberg's target reduction today boosted to their endeavours.
I just see this period as a lull between the euphoria created by changes to the grocery market as a result of Covid and the next good news RNS, when the first new client, after Covid, signs up with Ocado Solutions .

I guess it all depends on AB - he seems more intent to maintain Enquest as a growth company and growth companies don't usually pay dividends. But, lets hope that you are all right and a dividend is forthcoming as a result of higher oil prices and the consequential reduction in debt.