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Britain is to provide Ukraine with c
£2•5bn of support in their ongoing war against Russia. We may get a few quid. Don't expect to be informed.
On Wall stocks stage a late recovery after turning lower over the course of the morning session. The Dow fell as much as 270 points before clawing back losses, to end the day up 15.
A point of interest Microsoft ($383) briefly overtook Apple ($186) as the world's most valuable company following a 4% fall in the iPhone share price. The 2 companies have jostled for top dog for many years. Latest valuations Apple $2•886tn, Microsoft $2•858tn. Saudi Aramco no 3.
Most of the S&P major sectors declined as Banks were sold ahead of Q4 updates expected from JPMC, Citi, BOA and Wells Fargo. On the economy the US Labour Dept reported consumer prices rose more than expected in Dec and the nos of people filing new claims for benefits surprisingly fell to 202,000.
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Nyse Data
Issues 2916
Advances 1174
Declines 1631
U/c 111
T/vol(bn) 3•8
------------
DJ +15 (37,711)
SP -3 (4780)
NS +28 (16,821)
R2 -9 (1273)
WTI $74
10ytb 3•983%
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MSCI(W) -4 (3157)
Gold Bugs -2 (227)
---------------
Latest :- Vix 12. Brent $79.
Gold $2036. Copper $3•798.
Palm $950. Silver $23•010.
$1•277..€1•163.
FF +34. DF -17.
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Morning all.
Could be as the US Navy use the Arleigh-Burke class destroyer's guided missile. Not something the company are likely to comment on methinks.
Nyse data
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Issues 2911
Advances 1600
Declines 1220
U/c 91
T/vol(bn) 4•4
------------
DJ +171 (37,696)
SP +27 (4783)
NS +114 (16,793)
R2 +5 (1281)
WTI $72
10ytb 4•025%
----------
MSCI(W) +15 (3161)
Gold Bugs u/c (229)
----------------
Latest :- Vix 13. Brent $77.
Gold $2033. Copper $3•805.
Palm $920. Silver $23•185.
$1•277. €1•163.
FF +32. DF +100.
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Morning all.
A good day yesterday in sp terms buys (70%) cont to outpace sells by 2•3:1, sp hit an intra-day high of 890, closed at 860-900.
DJ -158 (37,525)
SP -7 (4765)
NS +28 (16,679)
R2 -15 (1277)
WTI $73
10ytb 4•021%
----------
MSCI(W) -7 (3147)
Gold Bugs -4 (229)
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Nyse data
Issues 2899
Advances 844
Declines 1963
U/c 92
T/vol(bn) 3•5
------------
Latest :- Vix 13. Brent $78.
Gold $2025. Copper $3•771.
Palm $900. Silver $23•040.
$1•270. €1•162.
FF -24. DF -57.
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Morning all.
Buys cont to outpace sells by nearly (4:1) shares down 10 to 845 at close. Stonehage Fleming sold today due to constraints on their 10% holding in any one stock. Norbert on ADVN says they hold 2 x 10% chunks of MSi in their Aim & opportunities funds.
Correction: 30p not %!
It's too early to take a view on where MSi shares are headed this early in '24. Though the bare nos would lead you to believe the shares are being dumped by investors worried that the company will stall on winning further contracts (as some believe), the actual nos paint a different picture.
For your info here's the first 5 days trading volumes. Usual caveats apply as to 100% accuracy due to misleading data at times.
Trades 142
T/vol 86,900
Buys 52,400
Sells 34,500
Buy% 60
Shares -30%
It was a mixed to lower day on the Street in morning deals as blue chips were clobbered by heavy falls in Boeing. But after 2pm the mrkts took a sudden upward surge climbing 250 in the last hour on the back of oversold mega caps. FAANGs led the rebound in Apple, Nvidia, Meta & Google.
Some Boeing Max 737 planes were temporarily grounded by US regulators after an Alaskan Airways Boeing Max 737-9 suffered a door panel blow out leaving a gaping hole in the fuselage. Luckily for passengers the door blowout occured as the plane was climbing after take off and was able to descend safely from around 16,000 ft. The terrifying descent lasted about 10 minutes.
By some miracle there were no casualties outside of the damage done to Boeings reputation which has raised questions over reliability and sloppy maintenance issues. Alaska & United have found loose bolts & other parts on a number of Max 737 planes.
Boeing were down some 8% at $220 propping up the DJ 30 index which was being led higher by big tech at mid session. The Dow off 55 after a near 200 drop on the Boeing news slipped to a 2 week low but recovered late on to end the day up 220.
Nyse data
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Issues 2912
Advances 2143
Declines 704
U/c 65
Tot/vol(bn) 3•7
------------
Latest :- Vix 13. Brent $76.
Gold $2030. Copper $3•821.
Palm $900. Silver $23•295.
$1•274. €1•167. 10y/tb 4•01%
FF +30. DF -46.
Morning all.
Google MSI- DS available jobs.
MSi-DS (defence systems) are experiencing an exciting period of growth and will shortly embark on a recruiting drive for a wide range of disciplines including engineers, fitters etc... Always a good sign when a company seeks recruits to bolster its workforce as it sends a strong message to mrkts the company us in an expansion phase.
Asia is mostly lower this morning despite US jobs growth data coming in stronger than expected in Dec (216,000 v 173,000 in Nov). Australia is ahead after a weak opening with Gold miners leading the ASX200. Domestic inflation data later this week will be closely watched by investors. Sydney closed down 38 at 7451.
Japan is closed for 'Coming of Age Day' elsewhere HK & SH are lower as are NZ, SK & Singapore. Other Pacificas trade moderately better. While the S&P has had a rocky start to 2014 (-73) consensus is for equities to move higher in Q1. Last year the S&P 500 gained 7% by the end of March and had raced up 16% by the H/Y.
Gold ($2031) is being sold off on worries the Fed is in no hurry to cut rates. A kitco Gold news survey reported 6 Wall St analysts were bullish on gold prices to move higher next week while 1 predicted a drop and 2 were undecided. The USD index is showing considerable resilience on its best start in many years.
Latest :- Vix 13. Brent $78.
Gold $2031. Copper $3•813.
Palm $900. Silver $23•165.
$1•270. €1•161. WTI $73.
FF -28. DF -146.
Morning all.
DJ +26 (37,466)
SP +9 (4697)
NS +24 (16,306)
R2 -4 (1271)
WTI $74
10ytb 4•046%
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MSCI(W) +6 (3121)
Gold Bugs u/c (233)
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Close :- Vix 13. Brent $79.
Gold $2045. Copper $3•802.
Palm $900. Silver $23•385.
$1•272. €1•162.
Yen 144. Yuan 7•16.
FF -22. DF -16.
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Morning all.
MSi ended wk 1 down 20 at 850-880 depending on where you look. Buys outpaced sells by 1•6:1 (see below for details). Jan is generally considered to be a good month for stocks. According to the WSJ since 1928 the S&P rallied 60% of the time in January with an average gain of 1•2%.
As far as MSi is concerned Jan was a losing month last year down 60p and went on to close Q1 off 140 at 520. This year will hopefully be different. With int rates slated to come down this year consensus is for the ftse to rise to 8160 (6%) by year end.
I have no view on what the ftse will do daily, weekly, yearly or ever.
I just hope I've picked the right stock in the right sector with good fundamentals, is debt free, turns a coin and is run by managers whose interests coincide with mine.
Wk 1
MSi 850
L/yr 665
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Trades 109
T/vols c.70,230
Buys c.43,200
Sells c.27,030
Buy c.61%
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Evening all.
DJ +10 (37,440)
SP -16 (4689)
NS -86 (16,282)
R2 -1 (1275)
WTI $73
10ytb 4•005%
-----------
MSCI(W) -2 (3114)
Gold Bugs u/c (233)
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Latest :- Vix 14. Brent $78.
Gold $2042. Copper $3•850.
Palm $905. Silver $23•290.
$1•267. €1•159.
FF -45. DF -21.
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Nyse data
Issues 2911
Advances 1386
Declines 1427
U/c 98
T/vol(bn) 3•71
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Morning all.
DJ -285 (37,430)
SP -38 (4705)
NS -175 (16,368)
R2 -35 (1276)
WTI $73
10ytb 3•929%
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MSCI(W) -30 (3116)
Gold Bugs -6 (233)
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Latest :- Vix 14. Brent $79.
Gold $2047. Copper $3•858.
Palm $895. Silver $23•200.
$1•268. €1•160.
FF +12. DF +62.
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Nyse data
Issues 2879
Advances 782
Declines 2028
U/c 69
T/vol(bn) 3•9
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Morning all.
DJ +25 (37,715)
SP -27 (4743)
NS -282 (16,544)
R2 -7 (1311)
WTI $70
10ytb 3•936%
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MSCI(W) -24 (3145)
Gold Bugs -4 (239)
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Latest :- Vix 13. Brent $76.
Gold $2064. Copper $3•865.
Palm $905. Silver $23•915.
$1•264. €1•153.
FF -12. DF -22
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Nyse data
Issues 2909
Advances 1347
Decliners 1496
U/c 66
T/vol(bn) 3•7
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Morning all.
If you want 'action' on your shares you will have to move up a few divisions to the top tier league. Those of us committed to Aim companies bear a heavier burden of expectations where prices fluctulate on small volumes sometimes for no apparent reason and can often be mis-priced.
During Q1 (wks 1-13) last year MSi fell from 660 to 520 (21%) on lack of interest before falling to a low of 442 on the 25th May (wk 21). Recovering smartly to 570 by end Q2 (wk 26) those 5 weeks provided a wonderful buying opportunity for long'term investors who ignored the slumping share price. I know of several who were filling their satchels.
As we now know Q (3&4) were much better so those who bought on the way down were well rewarded for their loyalty for staying the course. Ignoring the H/Y 10% fall on Aim which never recovered proved a point that 'buy and hold' that often derided strategy of day traders and short termers proved a very good option for those who had 'bottomed drawered' their certificates and waited for the mrkt to come to its senses.
As we know past performance is no predictor of future results so a 30% gain for MSi might be a bear trap awaiting the unwary. For me that's too far off the scale to seriously think about unless a 'Black Swan' event is around the corner. While I believe MSi is well placed to benefit in these troubled times the company will need to keep investors better informed as to the 'newsflow' the life blood of most Aim companies to stop the 'grumbles' from the likes of me!
For sure the board and advisors are well up with events they just need to give new investors a reason to hold MSi stock into the 1000's this and next year as broker notes are non existent. Pencil in 100+ eps for 2024/5 based on winning more Vshorad contracts and further work from the US Navy boosting our order book to c.£200m.