IMPERIAL Tobacco has been trending upwards since the end of March despite underperforming others in its market. Analysts at UBS have rated the stock a buy with a price target of £21.40 based on potential earnings growth. Technicals suggest possible upside as the moving average convergence-divergence (MACD) is positive and above its signal line and also trading above its 20 and 50-day moving averages. Capital Spreads quotes 1,939.2p-1,948.6p.
Brent crude smashed its way through the $125 a barrel mark to rise in line with all other commodities. As the dollar continues to weaken, it is a good indicator that commodities could push higher, along with the concerns of supply from the Middle East. We haven’t seen Brent at these levels since August 2008 but with the high demand from Asia, and the civil unrest in Libya, it may take a lot to stop the market going higher. Capital Spreads quotes Brent crude May at $125.38-$125.43.
Cairn Energy shares have slipped on the news the Indian authorities have stalled the deal to sell Cairn India to Vedanta Resources. Cairn’s shares have fallen back to a trend line going back to November and the 30-day moving average at 442p, a break of which could see it slide to 420p. Spread Co offers a spread on Cairn Energy of 443.1p-444.p
Temporary power supplier Aggreko's shares continued to climb last week in the wake of being awarded a contract to provide emergency power to Japan. The shares closed at a new all-time high of 1,696p on Wednesday before dipping to 1,6660 Friday. With no resistance to hold them back now, the shares can keep rising. Spread Co offer a spread on Aggreko of 1,695.7p 1,699.3p
Punch Taverns will be announcing its results today and there has been strong buying ahead of the figures. Despite the sluggish economy, the entertainments market seems to be performing well. WorldSpreads offers 78.8p-79.4p