The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Can’t believe people listen to these fools! Canaccord Genuity down grade Strix target from 300p to 200p. They’ve done ‘‘this in my opinion because they screwed up on their price target when they stated 300p.
Just read announcement from Strix on their trading which considering what’s going on in the world I thought was ok. Just bought 2500 more at 163.45 very happy with price.
In the world of current disasters with wars, inflation, labour shortages, raw material shortages and food shortages Persimmons is making slightly more profit and share price gets a kicking.
Financial Times yesterday
A lack of investment in new mines, depletion of existing mines and under investment across the entire supply chain have been key factors in coal market tightness. Most mining companies are unwilling to invest in new cool capacity due to structural demand risks and the ongoing ESG overhang. The resurgence of the global coal market is real, in our view, and there could be more upside to prices this summer
Quote from Jefferies (above)
All of which has naturally been a boon for coal miners and companies that transport the stuff via land and sea. Swiss-based Glencore is expected to rake in first-half coal EBITDA of more than $8bn.
So guys stay positive, I bought 780 shares this morning at £4.34 and I’m comfortable with my investment.
Folding box board market is red hot, three month lead time, they can charge what they want at moment. Cost of container from Far East (Ningbo, China) 21,000 dollars (40ft) so not worth buying. I agree DS Smith will be on someone’s radar at this share price. A well run business. I have 23,600 DS Smith shares, I am 15k down as bought in from 3.81 to 2.93 (bought 6 times as it dropped) I will NOT sell. It will go up or be bought in my opinion.
That’s about the 10 rise this year and all merchants seem to be doing it. Another 10%.
Spoke to dealers re material prices at FESPA Berlin, all the dealers from Finland to Turkey, Poland to Portugal are seeing same thing. Board prices going through the roof (in price).
Getting reports from customers (Print Companies) that more and more of their customers are choosing to put work they would normally print online as costs have gone through roof.
Will find out how the packaging market is fairing at FESPA show in Berlin end of the month all the big boys will be there.
We may have a recession but a lot of people have a lot of equity in their homes so will cut back on everything else to pay their mortgage. Higher interest rates equal higher profits for all the UK banks. PLUS no PPI miss selling payments. I think the banks are finally going to be cash machines for shareholders.
I don’t think you will see 124 today and maybe never again, this company has never made a profit. We are probably going to experience a recession. People will cut back spending, delivered food will take a big hit.
I have bought two x 5000 of these today. I believe the economy will slow and people will cut their spending but they will still have to buy insurance. I also believe at some point someone will make a bid, specially at this low (I believe) price.
I bought in ex div at 287, thought that was a good entry price. Today bought more at 250 and 242. These will go back up! FTSE down 147, miners and oil getting hit hard but nothing wrong with Glen just a general sell off! Will bonce back in next few days
Been to a large printer today, when I entered the factory I was shocked at the pallets of paper. When I asked the MD why all the paper/board (over 400 pallets) he said delivery now out to 3 months and the price you pay is the price on day of delivery. So he is stockpiling. I have since spoken to two other BIG printers both are doing the same thing and one had taken another unit to store paper. DS Smith etc must be making a fortune at moment.
Printers getting hit with more price rises today but having to except! Coating up 20% in general. ink UV and veg oil based up roughly 65p per kg, Plate prices up and shortage of supply from Kodak, Fuji and Agfa due to Aluminium not being available. All chemicals seem to be up by 10 to 15%.
Printers will have to charge their customers more.
DS will have no problem pushing prices up as I said at beginning of message, printers are just excepting price rises because everything supply wise is going up (unless your a digital printer on a click rate).
Saga insurance came in at number 2 in a ranking of best insurance companies to deal with according to Daily Mail online.
Business section: New Boohoo factory brings rag trade back to Britain. All very positive. Bought 13800 of these for my isa on Wednesday, I personally believe this is a bargain price for a profitable business.