Equities are down slightly in early trading after consolidating their recent gains yesterday and The Trader Dominic Picarda is gearing up for more gains to come.
IC TIP UPDATES:
Costain’s (COST) performance is in line with expectations and the company has a £2.4m order book, against £2.5m at the same point last year, of which more than 90 per cent represents repeat orders. The company has secured £700m of revenue for 2013 compared with £650m at this stage last year. We keep our buy rating.
Balfour Beatty (BBY) has won a five year highway maintenance contract from Wiltshire Council worth £150m.
The prolonged wet weather during 2012 hampered performance at construction and landscaping materials business Marshalls (MSLH) which saw revenues dip by 7 per cent to £309m over the year. The company has completed a reorganisation designed to align its cost base with more subdued market conditions.
Johnson Service Group (JSG) says performance has been in line with expectations and that its dry cleaning business has displayed growth in like for like sales for the first time in several years.
OTHER COMPANY NEWS:
US focused oil and gas explorer Magnolia Petroleum (MAGP) has acquired 985 acres in Montana for $546,000.
Shipping broker Clarkson (CKN) says trading remains in line with expectations.
Condor Gold (CNR), which is surveying prospects in Nicaragua, says it may have identified anomalous zones which potentially indicate the presence of gold.