views

THE TIPSTER OIL PRESSURE COULD DRIVE PRICES UP

OIL stocks have been finding their way into many portfolios recently, with US crude back above $70 per barrel and the threat of further disruption in Nigeria helping to support prices.<br /><br />New problems at Gazprom and in the Ukraine could mean further unease in the energy sector, and prices could rise further as we move towards the anniversary of the all-time high in oil prices. CMC Markets is quoting a spread of 69.20-69.26p for US crude.<br /><br />Many stocks have been left behind as oil has rallied 100 per cent off its March lows, but Bowleven is underperforming the oil sector the most &ndash; to the point it could attract a speculative bid, which could be closely followed by Regal Petroleum and Tullow Oil. World Spreads are quoting a rolling price of 65.9-66.4p.<br /><br />Tomorrow&rsquo;s full year figures from Lord Harris of Peckham&rsquo;s Carpetright will be eyed by investors hoping to see that the retailer is managing to survive the economic downturn. The share price has drifted lower from its highs to around 577p where it has been given a little support, but the recent green shoots in the housing market maybe enough to send the price back towards its highs. Capital Spreads quotes a rolling price of 577.0-581.0p.<br /><br />Staff working for free and IATA saying that the outlook is brighter for the airline sector may make British Airways a good buy but the pension deficit remains a&nbsp; millstone around&nbsp; its neck.<br /><br />Analysts will be waiting for the next set of traffic figures, due on Friday, and the AGM in a couple of weeks, but the threat of demotion from the London top flight could also be reason to shy away from the stock. CMC Markets is quoting a rolling price of 129.9p-130.0p.<br /><br />Payment service provider Earthports has had some very positive trading recently, rallying up 50 per cent. Rumours are rife that a take over approach is imminent and speculators feel confident they can get &pound;1 a share price if that were to happen.&nbsp; World Spreads is quoting a spread of 64.1-64.6p.