THE TIPSTER GOOD RESULTS BUT OUTLOOK QUESTIONED
WE ARE still in earnings season and mobile telecoms giant Vodafone is due to report its interim results tomorrow. Last week’s comments by Cisco that technology spending is on the up may be the sort of signal to encourage further support for the company, but with competitor Orange launching their UK iPhone sales on the same day, the landscape clearly remains competitive. The current price at IG Index is 136.06p-136.44p.
With the country pulling out of recession and the Christmas shopping season fast approaching, interims from J Sainsbury on Wednesday will be watched to see if the growth trajectory can continue. Sustaining it into 2010 may prove difficult with the weak recovery and the added constraint of rising VAT so any guidance here will be critical. IG Index’s current price is 331.7p-332.6p
Life insurer Prudential’s share price was boosted to 580p last week by the announcement of a third quarter profit. But this is still some way off the year-highs of 647p recorded just a month ago and some analysts feel the company will struggle to meet market expectations when it announces full year figures.
ShortsandLongs.com has a rolling spread of 579.9p-581.6p.
HSBC’s share price stormed higher to over £7 in September, but since then the high-street bank has suffered from a lacklustre banking sector performance. This recent retracement could provide a buying opportunity ahead of its interims tomorrow. Capital Spreads offers a rolling price of 675.7-676.6.
Replacement hip maker Smith & Nephew saw some sharp movement at the end of last week following its above expectations third quarter results. The stock hit 559p before falling back to 534p. With bid rumours continuing to circulate about the firm, spread betters have been buying back in at this lower level in anticipation of possible rises. Spreadex has a rolling spread of 534.9p-536.6p.