Equities are steady this morning ahead of US jobs figures. The Trader Dominic Picarda again makes the case for investing in shares in his weekly column today.
IC TIP UPDATES:
Simon Thompson recommendationNoble Investments (NBL) has announced strong full year results with pre-tax profits up 23 per cent to £3.7m in the 12 months to August. The dividend is increased by 22 per cent to 5.25p. We maintain our buy recommendation.
Fellow housebuilder Bellway (BWY) has said that potential buyers are fining it a little easier to source funds, partly due to the government’s NewBuy scheme and reservations have risen by 6 per cent to 100 a week in recent weeks. The average selling price is up by 4 per cent too.
Gemfields (GEM) is to buy a controlling interest in a ruby despoit located adjacent to its Montepuez ruby mine in Mozambique for $3.5m.
Meanwhile, Coal of Africa’s (CZA) troubles continue with news that it has sacked 178 miners, approximately half of its workforce, who were out on strike.
Photo-Me International (PHTM) has managed to grow its profits by 17 per cent, despite a revenue decline of 7 per cent, with Germany, Switzerland and Japan proving to be star performers.
OTHER COMPANY NEWS:
Belgravium Technologies (BVM) has suffered from some contract slippage which means its full year performance will miss expectations.