Weekly stock market update from The Share Centre
Stock market analysis from The Share Centre
Friday, 02 Mar 2007 17:36
Nick Raynor, investment adviser at The Share Centre, comments on this week's market.
"To say this week has been volatile I believe would be an understatement, Thursday saw some of the biggest movements to date on the FTSE 100.
"Trading had begun positively and the market bounced 60 points to the good but jitters on Wall Street soon saw the market fall to a low of 6,038 and nearly fall through the 6,000 barrier.
"China was the cause of the problems at the start of the week after falling over 9% in just one day’s trade.
"This coupled with concerns over possible rises in taxation for mining companies in South Africa started to set the tone of profit taking for the week.
"There were several heavy weights reporting figures from the FTSE but all of these were overshadowed by other events.
"Next week we hope for some stability to set in but figures are due from HSBC on Monday morning and if these go the wrong way that could set the tone for another eventful week.
"There are a large number of second liners reporting figures over the coming week and there could be some bargains to be had prior to results being issued, but only for the brave I hasten to add. For the week the FTSE 100 fell 284.80 points to close at 6,116.20."
The UK Market's Winners and Losers
Winners
| Company | Percentage change | Closing price | Comment |
| Associated British Foods | +3.16% | 833p | Solid figures and broker upgrades. |
| Reuters | +2.24% | 433p | Good revenue figures and higher forecasts for 2007 defy market conditions. |
| GKN | +10.7% | 357p | Final results indicate more acquisitions to come along with Airbus orders for 2007. |
| Bodycote Int. | +16.97% | 318.75p | Reject Sulzer’s 325p per share offer saying it under values the company. |
| Molins | +14.98% | 153.50p | Figures show signs of re-assurance and restoration of dividends. |
Losers
| Company | Percentage change | Closing price | Comment |
| Xstrata | -10.78% | 2360p | Asian sell off and threat of South African windfall tax hammers all mining stocks this week. |
| Amvescap | -9.68% | 588p | Falls on weakness in the US markets. |
| Alfred McAlpine | -6.8% | 466.50p | Discover accounting irregularities in its slate business. |
| Avis Europe | -20.69% | 69p | Pre-tax profits fall 50%, and also warns on future margins. |
| Photo-Me | -24.53% | 60p | Profit warning after pre-tax profits are expected to be well below the companies own expectations. |
NOTE: The companies detailed above may or may not be the biggest percentage movers (plus/minus) in the week.
Mondays companies reporting:
Interim results:
Close Brothers, Indigo Vision, Weatherly International.
Final Results:
Amlin, British Polythene Industries, CBG Group, Dairy Farm International Hldgs, Dialight, Flomerics, William Hill, HSBC Holdings, Huveaux, Hydro International, Ideal Shopping Direct, IMI, Intertek Group, IP Group, IX Europe, Jardine Lloyd Thompson Group, Just Car Clinics Group, Kingspan, Paddy Power, Petrofac, Quantica, Ricardo, Rok, Taylor Nelson Sofres, Vitec Group, WSP Group.
Trading Statements:
Alkane Energy, Hardy Underwriting.
Tuesdays companies reporting:
Interim results:
Ashtead Group (Q3), ICM Computer Group, Interior Services Group, Manganese Bronze, Powerleague Group, Redrow.
Final Results:
Admiral Group, Allied Irish Banks, Axon Group, Beazley Group, Brit Insurance, CRH, Essentially Group, Galiform, Genetix Group, Hill & Smith, Hongkong Land Hldgs, Inchcape, Independent Media Distribution, International Power, Lavendon Group, Mandarin Oriental Intnl, Meggitt, Oxford Biomedica, Premier Foods, Property Recycling, Psion, RPS Group, DS Smith, Travis Perkins, John Wood Group, Work Group, Xstrata, Zotefoams.
Wednesdays companies reporting:
Interim Results:
Dunelm Group, A&J Mucklow.
Final Results:
Ark Therapeutics Group, Balfour Beatty, Beazley Group, Belgravium Technologies, Carillion, Devro, Dmatek, Dragon Oil, Erinaceous Group, FBD Holdings, Holders Technology, Imagesound, ITV, Jardine Matheson Hldgs, Jardine Strategic Hldgs, ,Johnston Press, LSL Property Services, Omega International Group, PFI Infrastructure, Provident Financial, Restaurant Group, Spring Group, Unite Group, Yule Catto.
Trading Statements:
Minorplanet Systems, Yule Catto.
Thursdays companies reporting:
Interim Results:
Interactive World, Town Centre Securities.
Final Results:
Arriva, Aggreko, Axis-Shield, Benfield, Biocompatibles, Camco International, Catlin Group, Colliers CRE, Drax Group, Highway Insurance, John Lewis Partnership, Mapeley, Nestor Healthcare, Office2office, Royal & Sun Alliance, Slough Estates, SQS Software Quality Systems
Umbro.
Fridays companies reporting:
Interim Results:
Bateman Engineering, Tenon Group, Vividas.
Final Results:
Candover Investments, Catlin, T Clarke, Corac Group, Stanley Gibbons, Gibbs & Dandy, Greggs, Group NBT, Marshalls , SPI Lasers.
Trading Statements:
Future.
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