THE satellite telecoms operator Inmarsat has suffered on the back of poor fourth quarter earnings, but increasing concern over the potential for unrest to spread further still through the Middle East and north Africa stands to keep the company’s services very much in demand. The downturn could therefore prove to be somewhat short-lived and profit taking may give way to some opportunistic buying off the lows. Current IG Markets price on Inmarsat is 609.9p-611.6p.
Local and regional newspaper publisher Johnston Press releases earnings figures on Wednesday, with the shares having recently recovered from two year lows around 10p, following some new hires in the management team. Dips back around the 10p area should be used to pick up some shares for a run back towards 14p. Spread Co offer a spread on Johnston Press of 11.47p-11.99p.
After Petrofac yesterday mentioned that they were only being minimally hit by the unrest in the Middle East, traders would be well placed to have another look at the oil fabrications giant. The company reported that orders had surged and net profit was up 58 per cent. The share price has taken a hit since the start of the year, however we have recently seen a bounce off the downside support at 1,400p. Traders will firstly be looking for the share price to sustain its ground above the 1,400p level before a move back towards 1,600p. Alpari UK is currently quoting Petrofac at 1,483p-1,484p.
News Corp already owns around 40 per cent of BSkyB, but is getting closer to the full takeover, as Culture Secretary Jeremy Hunt gave the all clear to the bid. Analysts and investors in the market are looking for 950p a share compared to the original 800p the company suggested it would accept. This alone could be a strong enough reason to see potential upside to BSkyB’s price. Capital CFDs quotes 831.5p-833.0p.