THE TIPSTER RESULTS AND BUYOUTS TO FUEL MARKET
Interim results are still dominating the headlines and the markets at the moment so spread betters should be well aware of which companies are reporting and what the market is expecting from them.
Insurance company Friends Provident reports interims on Tuesday and investors will be hoping for an update on the Resolution situation. For investors who have an underlying investment in the stock it might be worth taking out a short position to hedge during these times of uncertainty, so if the results lead to a sharp drop in the share price, at least they’ll be covered with their spread bet. Capital Spreads is offering a price of 68.6p-69.0p.
A smaller stock also reporting on Tuesday is bakery chain Greggs and investors will be looking at how much the recession has impacted on sales. Some analysts believe the downturn may have helped the firm as people turn to lower cost food products instead of premium retailers or restaurants. Shares rose to a high of 399.30p on Friday in anticipation of the results. ShortsandLongs.com has a rolling spread of 393.4p-395.6p.
Resource giant BHP Billiton never seems to stray too far away from the headlines, whether it be for courting rivals or for the recent appointment of Ford’s Jac Nasser as chairman.
The fact that the US car giant avoided a government bailout clearly shows good stewardship and with consolidation remaining a hot topic for the resource sector, a steady hand on the tiller is going to be invaluable. IG Index is offering a current spread of 1,535p-1,536p.
Money transfer specialist Earthport is still seeing plenty of interest as speculation continues over the firm’s future amid a buyout bid from US giant IBM, which saw the firm’s shares rise from 64p to 74p at the end of last week. Spreadex has a September-based contract with a spread of 72.7p-75.6p.