Date: Wednesday 20 Jun 2012
Mulberry is a major turn off for Questor in the Telegraph. The firm has done extremely well in the recession, buoyed by demand from China, but even after recent falls it trades at an eye-watering 27.7 times earnings. This is too much in the fickle world of fashion says Questor. Avoid.
Hammerson, the property company, has managed to sell most of its office portfolio for £518m. The deal means it now has around £1bn to spend on its new focus, retail property. Tempus in the Times admits the shares now look cheap against its rival Capital Shopping Centres but advises a wait and see approach until the new strategy yields some concrete returns.
Tempus also considers the fascinating stock, Imagination Technologies, which makes graphics processing chips and counts Apple as a major customer. It reported very impressive results yesterday but then dropped 9%. The problem may by an extremely high price to earnings ratio of 35 times but it does control 50% of its main market. Hold for now is the advice.
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