Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Brighton Pier nos much as expected with 6m+ visitors annually to the Pier the new £1 admission charge will boost revenues no end. Get the railways sorted and some half decent weather.... this year looks brighter for investors. I will be buying this morning on any slippage.
Fears the Fed may be actively considering raising rates kept investors on the sidelines yesterday. After hawkish comments from some Fed Officials, Minneapolis Fed President Neel Kashkari suggested rates need to remain at current levels for an "extended period." He added he could not rule out the Fed raising rates calling the bar for hiking rates "quite high" but not infinite.
Fed Bank of Richmond Pres said he feels the risks are weighted towards more inflation and NY counterpart John Williams said timing of cuts will depend on the totality of incoming data.
Meanwhile equity mrkts were becalmed the major averages were flat as investors decided to take profits despite upbeat earnings from the financial sector. A surprise drop in Disney box office and its TV business saw the shares slump 10% to $105, its bigest drop since 10/22. Disney was the big loser on the big board, 10 of which fell on the day.
Tesla ($176) dropped 4% on data showing the automaker sold 62,167 China made EVs down 18% from last year. Apple ($182) held its first event of the year promoting major updates to its iPads and Pencil & Magic Keyboard via a "livestreamed" launch in London and NY.
The USD reversed an early drop and was last higher against a basket of currencies. Longer dated Treasury yields slipped as traders focused on absorbing $125bn in new supply this week. Oils closed lower on easing supply concerns and Gold gave up earlier gains in subdued trading.
Nyse data
Issues 2891
Advances 1584
Declines 1232
U/c 75
NH 212
NL 16
T/vol(bn) 4•0
-------------
DJ +32 (38,884)
SP +7 (5188)
NS -2 (18,091)
R2 +2 (1318)
WTI $78
10ytb 4•477%
----------
Latest :- Vix 13. Brent $82.
Gold $2319. Copper $4•572.
Palm $1050. Silver $27•580.
$1•248. €1•162.
FF +14. DF +1.
Morning all.
Seems Billington investors cont to see value sub 600. Wouldn't disagree for a moment as long as you intend to hold for longer than a week,
all being well you should do okay. Sitting tenants always do well.
You will be entitled to the recent 32p dividend with prospects of further increases in the years ahead. Takeover or merger prospects are a def possibility with several larger suitors seeking a fully warmed up acquisition.
Gotta be the best play for investors whether short term or longer, sit tight and add if you can. I wouldn't worry about the sp the day traders will take care of that as it nears the "roundo'phobia" 600p barrier hated by pis.
Anyone who thinks in 6 months time they will be able to buy Bill at current.....well good luck with that.
Afternoon all.
Wall closed higher for the 3rd
straight session as traders price in rate cuts worth 46 points by Sept or Nov. Rates remain at a 23yr high of 5•3%.
On a strong day for equities techs led the headlines, Arm Holdings ($109) gained ahead of results this week with analysts optimistic about future prospects. Also Micron Tech, AMD and Super Micro Computer were on buyers lists.
Paramount Global ($13) edged up after ending talks with Skydance on hopes new suitors Sony & Apollo (fund management) will acquire the company. Sony shares fell on the news after reportedly offering $26bn to acquire the company. Warren Buffet disclosed his exit from Paramount citing personal responsibility for the loss.
Spirit Airlines ($3•37) fell 10% to a record low after reporting weak Q2 nos on more plane groundings and excess capacity forcing the company to discount heavily to fill seats.
On the big board top 30 Disney, IBM & Cat led the 20 risers. Boeing, Apple & Amgen propped up the laggards. The Dow ended up 176 for a 3% ytd gain.
Nyse data
Issues 2896
Advances 2181
Declines 638
U/c 77
NH 169
NL 19
T/vol(bn) 3•9
-------------
Latest :- Vix 14. Brent $84.
Gold $2321. Copper $4•614.
Palm $1050. Silver $27•630.
$1•259. €1•166.
FF +32. DF +16.
Morning all.
UK mrkts are closed for May Day holiday after the ftse ended up 41 8213 and 6% up ytd, leading the Dow averages for the first time since noone can remember when.
Japan and S.Korean mrkts are closed for Children's Day holidays, elsewhere its a mixed picture China, Taiwan, Singapore & Malaysia trade higher while NZ, Hong Kong and Indonesia trend lower.
Wall closed the week with strong gains across the board leaving the S&P up 7•5% this year. A weaker than expected jobs report pleased investors. Just 175k new jobs were created in April against 315k jobs in March leading to hopes of a September rate cut.
On back of US mrkts, Australia is notably better adding to gains in the previous 2 sessions. The ASX200 is up 53 to 7682 while the broader All Ordinaries (7946) is ahead 46 on back of major stocks Rio Tinto, BHP & Newmont on investor buy lists. The All Ordinaries contain 500 of the largest listed stocks and accounts for 97% of the mrkt. In the currency mrkt the Aussie dollar trades at $0•662.
Latest :- Vix 13. Brent $83.
Gold $2311. Copper $4•591.
Palm $1045. Silver $27•125.
$1•254. €1•166. WTi $78.
10ytb 4•518%.
FF +23. DF +34.
Morning all.
From a low 330 in Oct '23, Bill has been an outstanding share climbing to current 570 for an investment gain of 73%
if your still holding. On a ytd basis Bill is up (110p) c.24%.
For those o%'s I'd expect to see some nervousness as holders either sell out or trim gains for a free carry. Trading volumes and bargains dealt have increased hugely during this period as the mrkt applauds the results.
Still sells on a underwhelming p/e into 2024 of c.9x with a Cavendish target price of 610. Eps could hit 100p (84p) this year given a fair run and likely futher acquisitions. The company is debt free and cash rich (c.170 pps) an important consideration for investors as rates look to be on hold for a while yet. Along with MSi, Yu, Boo, Vertu & ITM Power, it's one of the best Aim stocks.
Meanwhile enjoy the 33p dividend (well covered/ includes a 13p bonus payment) due to exceptional performance over the year. Payable 2nd July'24. Make sure your on the register.
Afternoon all.
Nyse data
Issues 2879
Advances 2134
Declines 690
U/c 55
NH 123
NL 18
T/vol(bn) 3•9
-------------
DJ +450 (38,676)
SP +64 (5128)
NS +349 (17,891)
R2 +10 (1301)
WTI $78
10ytb 4•518%
----------
MSCI(W) +40 (3361)
Gold Bugs -1 (261)
---------------
Close :- Vix 13. Brent $83.
Gold $2301. Copper $4•568.
Palm $950. Silver $26•785.
Yen 153. Yuan 7•24.
$1•254. €1•165.
Morning all.
A big drop in volume terms this week versus last. As seems to be the case with
Msi there's no rhyme or reason for the volatility in trading deals and volumes from one week to the next.
Guess it's symptomatic of Aim shares largely dependent on newsflows for pis interest, not that MSi provides much for us in that regard. Whatever and one shouldn't read too much into these nos, buys outpaced sells by a factor of 1•32:1 over c.78 deals.
On a pre holiday weekend which usually sees share prices ease back on a "who'd be wanting to hold these?" type scenarios, seems very few did today as only 8 trades crossed the tape on a very dull day.
Here's the nos:-
Sp 890-920
L/yr 480-510
H 935
L 443
7/88 113
---
Trds 78
T/Vols 59,300
Buys 33,700
Sells 25,600
----
Av trd 760
Av trd£ 780
-----
Ytd
MSi +4%
100 +6%
250 +2%
All +5%
Aim +1%
---
Evening all.
Fed Chair Powell said the next move in rates would likely be down scotching trader talk of a raise.
On Wall St stocks fluctuated in early dealings before moving higher over the day. The major averages showed strong moves to the upside going into the close with all 3 posting solid gains. The S&P holding its 6% rise ytd.
Main talking point was Apple's
After hours gain to $183 despite iPhone sales dropping 10%. Investors were cheered by a $110bn buyback a 22% increase on last year's $90bn authorisation and the bigest share repurchases by a company in US history.
Berkshire Hathaway owns nearly 6% of Apple (906m shares) and is the 2nd largest investor after the Vanguard Fund Group. Buffet is not averse to selling Apple stock he sold 10m last year. The stock is down 7% ytd.
Gold is holding $2300 level as the US Labour mrkt continues to stabilise as jobless claims came in at 208,000 unchanged. Oils ($84) edged up after selling off to a 7 week low following inventories surging by 7•3m barrels to the highest levels since 6/23.
Issues 2866
Advances 2189
Declines 603
U/c 74
NH 80
NL 26
T/vol(bn) 4•4
------------
DJ +322 (38,226)
SP +46 (5064)
NS +230 (17,542)
R2 +19 (1291)
WTI $79
10ytb 4•584%
----------
MSCI(W) +28 (3322)
Gold Bugs +1 (262)
---------------
Latest :- Vix 15. Brent $84.
Gold $2307. Copper $4•499.
Palm $950. Silver $26•875.
$1•255. €1•169.
FF +18. DF +244.
Morning all.
Not a good start for Ben Maxted! Issuing a poorly worded update with no meat and potatoes provides little incentive to hold the stock short-term.
Long'termers will see the fall as a buying opportunity and I'm one!
Little of note for shareholders. I expect the shares to fall today.
Nyse data
Issues 2867
Advances 1700
Declines 1102
U/c 74
NH 56
NL 36
T/vol(bn) 4•5
------------
DJ +87 (37,903)
SP -17 (5018)
NS -122 (17,319)
R2 +4 (1272)
WTI $79
10ytb 4•621%
-----------
MSCI(W) -11 (3294)
Gold Bugs +2 (260)
---------------
Latest :- Vix 15. Brent $84.
Gold $2314. Copper $4•566.
Palm $1012. Silver $26•825.
$1•253. €1•169.
FF +43. DF +176.
Morning all.
Picked up a few of these, been watching for sometime on hopes the F/Y nos are not a bad as forecast. Like the company as long as the UK continues to support the leisure sector. "Cool hand Luke" has his hard core supporters though this is likely a long'term hold rather than a quick-in-out.
Anyways I shall be going down to Brighton this summer to see how the operation runs and if shareholders are welcomed?
Of the 265 companies that have reported earnings 79% have beaten analysts expectations for Q1 nos compared to the long'term average of 67%. Yet investors remain bearish.
US equities have had a rough April as inflation nos have pulled back bets on rate cuts in H1 and all 3 major indexes are poised to record their first monthly loss in 6 months as US consumer confidence deteriorated in April falling to its lowest level in 18 months. Coupled with the 'sell in May' and 'go away' crowd the S&P had its worst month this year.
Ten of the 11 S&P sectors fell led down by big tech and an assortment of other big cap counters. Tesla ($181) led the sell off falling 7% as the company is set to sack hundreds of staff coming after the recent 14,000 lay offs and Musk firing 2 senior executives. Musk was quoted as saying 'only the excellent, trustworthy and necessary should be kept on'.
Mrkts were stunned by data showing slower than forecast growth and persistent inflation. Disappointing nos from Meta ($427) triggered the sell off along with IBM, Southwest and Caterpillar all falling. On the big board top 30 only 2 stocks gained (3M & P&G). Cat, Boeing and Msoft propped up the laggards ahead of Amazon earnings nos.
Nyse data
Issues 2897
Advances 495
Declines 2333
U/c 69
NH 64
NL 36
Tot vol(bn) 4•0
-------------
DJ -570 (37,816)
SP -80 (5036)
NS -342 (17,441)
R2 -25 (1268)
WTI $81
10ytb 4•677%
-----------
MSCI(W) -41 (3305)
Gold Bugs -13 (258)
----------------
Latest :- Vix 16. Brent $86.
Gold $2285. Copper $4•527.
Palm $1027. Silver $26•600.
$1•247. €1•170.
FF -2. DF +21.
Morning all.
Nyse data
Issues 2885
Advances 1997
Declines 811
U/c 77
NH 79
NL 9
T/vol(bn) 3•4
-------------
DJ +146 (38,386)
SP +16 (5116)
NS +64 (17,783)
R2 +8 (1293)
WTI $82
10ytb 4•610%
-----------
Latest :- Vix 15. Brent $ 87.
Gold $2321. Copper $4•675.
Palm $1027. Silver $26•900.
$1•254. €1•172.
FF +1. DF -65.
Asia is trading higher this morning following positive cues from Wall overnight as traders look to the latest Fed's monetary policy announcement due on Wed.
The Fed is expected to keep rates unchanged as recent economic data has tamped down expectations of a near term rate cut.
Stocks managed small gains during the session after upward moves last week. On the big board top 30 Boeing, Apple and Amgen led the risers with Msoft, United Health and Intel propping up the losers.
Morning all.
If you want to accept the tender offer for all your shares you will have to wait till June 3rd to be paid out. I see no other feasible option for pis other than to sell now at less than 95. You certainly don't want to be a minority holder in a private company!
Markets across Asia are trading higher following the broadly positive cues from global mrkts and a strong close on Wall St where the 500 consolidated its position above 5100 points. US inflation data and a drop in 10y/tb pleased investors.
The Nikkei 225 is closed on account of it being Showa day honouring emperor Hirohito's birthday 1926-1989. Elsewhere in Asia Hong Kong up for the 5th straight sessionp as properties see buyers return. Taiwan second to Tokyo in global best performer stakes is well ahead in morning trade (+c.2%) along with Shanghai benefiting from strong demand among technologies.
Sydney is significantly ahead going into the close on the back of resource stocks, financials and gold miners. The ASX200 was up 70 heading to the close and just in positive territory for the year.
Investors were busy sealing their gold holdings last week as future's test $2350 though analysts point out the latest economic data puts Central Banks in a difficult position as inflation remains elevated and Govt debt and slowing growth are providing support for gold if headaches for equity investors.
Latest :- Vix 15. Brent 87.
Gold $2331. Copper 4•602.
Palm $1027. Silver $27•300.
$1•255. €1•169. 10ytb 4•669%
FF +42. DF +132.
Morning all.
More MSi data:-
5 day +12%
30 +14%
90 +2%
Ytd +5%
52 +80%
---------
DJ +154 (38,240)
SP +52 (5100)
NS +288 (17,718)
R2 +10 (1284)
WTI $84
10ytb 4•669%
-----------
MSCI(W) +28 (3335)
Gold Bugs +2 (269)
----------------
Close :- Vix 15. Brent $88.
Gold $2337. Copper $4•587.
Palm $1027. Silver $27•225.
Yen 158. Yuan 7•25.
$1•249. €1•168.
------------
Nyse data
Issues 2887
Advances 1859
Declines 941
U/c 87
NH 81
NL 22
T/vol(bn) 3•6
------------
Morning all
Volumes and deals surged yesterday and on the week with over 127,000 shares exchanged . Investors drew comfort from the Govts commitment to increase defence spending to at least 2•5% of gdp. Whether MSi will be a beneficiary of the millions being splashed out is not known. Suffice to say we should be on the list.
Wk 17
----
Sp 900-910
L/yr 500
H 935
L 443
7/88 113
----
Trds 114
Vols 127,000
Buys 75,000
Sells 52,000
Buy % 60
----
Av trd 1105
Av £ 1140
----
Ytd
---
MSi +5%
100 +5%
250 +1%
All +4%
Aim -1%
---
Morning all.