Date: Tuesday 28 Sep 2010
But by its very nature, Wolseley has little visibility of future trading. It looks like being a long haul, with no particular reason for any sharp improvement.
The shares have been ticking up over the past month and on approaching 14 times this year’s earnings, could be vulnerable to profit-taking. Too soon to chase says the Times.
Aberdeen Asset Management is now so large that even a small percentage movement in the size of its assets equates to the GDP of a small African country: in this case, as it happens, Chad. The shares have had a strong run, up almost a fifth since January. But they are tightly held, with Japan’s Mitsubishi holding 16.5% and Credit Suisse 21%. Aberdeen trades at a narrow discount to the sector. Hold says the Times.
Personal Group specialises in employee benefits, focusing mostly on blue- collar workers and its core products are voluntary ones, meaning that employees must opt in. The stock trades on multiples of under 12 times this year's forward earnings, and on under 11 times next year's. The yield goes from a tasty 6.9% for 2010 to 7.1% for next year. Can the company keep up the pace given the economic outlook? It's worth holding to find out, says the Independent.
After a protracted bid battle, Korea National Oil Corp (KNOC) has finally won control over Dana Petroleum. Investors can take up KNOC’s offer or sell in the market at a 1p premium to get the cash immediately. Sell says the Telegraph.
International Ferro was cautious in its outlook statement, but said that the long-term demand for stainless steel was robust. Despite the strength of the rand and increasing energy costs, the Telegraph remains positive on the company. The shares are trading on a June 2011 earnings multiple of 10.4 based on current forecasts, falling to just 3.6 times in 2012. The shares remain a buy despite the falls says the Telegraph.
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