HEDGE fund manager Man Group’s share price has been hovering just above the £2 mark for some time but it still yields the biggest dividends of any stock in the FTSE 100. Its trading update tomorrow might help to drive the shares higher. Capital Spreads offers 220.7p-221.3p.
Last Monday, this column recommended selling bookmaker William Hill at 187p – since then its shares have plunged 8 per cent, crashing through the 50 and 100-day moving averages to 172p. Hold on to your shorts until 162p where it might be worth flipping your position and going long. Spread Co offers 172.4p-173.7p.
Like its rival, Ladbrokes’ share price also retreated last week to the 50 and 100-day moving averages at around 138p. The technical outlook is bearish since the 100-day moving average has just crossed the 50-day to the downside. Anybody looking to buy should wait until the 125p-130p level. Spread Co offers 137.6p-138.3p.
Mining stocks lacked support in early trade on Friday after a broker downgrade but investors seem committed to safer-haven plays such as precious metals. While this prevails, the sector has the potential to find support. But with data focused on US and UK GDP readings this week, the risk of another flight to quality cannot be stressed enough. The current IG Index price on New York-listed Barrick Gold is $46.35-$46.44.