THE TIPSTER TRADERS HOPING TO BOOK SUITE OF PROFITS
RESULTS last week from Intercontinental Hotels pointed to a resurgence in bookings outside of the beleaguered Eurozone, so investors in Millenium & Copthorne will be hoping that the company can replicate its larger peer’s success in areas such as China and the US. The operations in these areas should benefit from continuing economic growth, so investors might be well advised to make their reservations soon to avoid being locked out of growth further down the line. IG Index quotes 485.48p-489.92p for Millenium & Copthorne.
Shares in Gulf Keystone have soared since the beginning of the year, easily outperforming the broader equity market. Investors expect the Kurdistan-focused oil and gas explorer to profit from major finds in the region, while there is also speculation that the company is being targeted for takeover by one of the oil majors. GFT quotes 426.25p-428.00p for Gulf Keystone.
As far as annual results go, few will be more eagerly anticipated than Royal Bank of Scotland’s on the Thursday. From the dizzying heights of the ABN Amro takeover to the subsequent credit crunch, RBS has had a turbulent run in recent years. With 83 per cent ownership by the state, the public has a vested interest in the bank reporting well, but could be disappointed. While the bank continues to restructure and sell off assets to boost its capital base, profit is likely to drop sharply on insurance mis-selling. ETX Capital quotes 28.17p-28.20p for RBS.
The FTSE hit a new six month high yesterday on the back of reduced capital requirements for Chinese banks and increased hopes of Greece getting its bailout money from the EU. This move higher is seen as a technical breakout to the upside and could be followed by further strength. Capital Spreads quotes a price of 5,650.0-5,951.0 for the FTSE.