THE TIPSTER
IT seems National Express is not the most popular company around at the moment, as it takes advantage of increased passenger numbers due to the high cost of fuel, by jacking up its fares. Traders were shorting it ahead of itsresults on Wednesday, even though it is expected to show a 13 per cent rise in profits. Road blocks in the form of several moving averages and trendlines look to be indicating that a fall is en-route for National Express. Spread Co quotes National Express at 220.52p-221.06p.
When hedge fund manager Man announces its 2011 results this week, investors will probably be wondering whether this long-running tale of woe has yet reached its end. A trading statement in January saw the shares rise purely on the basis that the company managed to avoid springing any unpleasant surprises on its long-suffering shareholders. Hopefully the company will have been able to man up and stem the outflow of funds, but a gloomy outlook could see the hedge fund’s price endure yet more trimming. IG Index’s price on Man is 133.17p-133.63p.
It’s a big week for financial markets as the second round of liquidity boosting loans are expected from the ECB and as a result the sell off so far this week might be short lived. So far in 2012, retracements in indices have been met by further buying. Capital Spreads quotes a price of 6,780.0-6,781.0 for the Dax.