PLUS news 11/03/2010
Retail-focused stock exchange PLUS has regaled investors again with news of upbeat trading volumes during January.
Those in the know at broker Seymour Pierce have taken aim at a variety of stocks this results season. In mining, analyst Charles Kernot looked at AIM-quoted Leyshon Resources following a period of positive newsflow from the company.
Earlier this month Leyshon announced it had found more high-grade veins at China's Zheng Guang gold, silver and zinc project. Drilling at Zheng Guang in north-east China's Heilongjiang area has intersected epithermal veins with values including 16 metres at 10.89 grammes of gold per tonne of ore and two metres at 53.74 grammes a tonne. Kernot reiterates his ‘buy’ recommendation and 25p target price.
Analyst Charles Peacock says Avanti Screenmedia is one to buy after the company announced the ‘long-awaited’ contract to supply Spar-TV to Tates Ltd, the largest Spar multi-site operator. The deal is estimated to be worth around £9.4 million to Avanti over five years, with Peacock estimating around one third of this to be accrued during the current financial year. Avanti announced solid full-year results in early October and Seymour Pierce maintains its ‘buy’ position given its future prospects.
Retail sector-focused software developer Torex Retail has announced a new chief executive in Neil Mitchell, with Chris Moore taking on the responsibilities of a non-executive operational role as chairman. Analyst Derek Brown expects to see a statement from the company around its year-end in December. He says trading remains strong at Torex and, despite ‘negativity surrounding the stock’, the pipeline looks solid for 2006 and beyond. Accordingly, Torex should ‘outperform’.
£7,277 That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our April 2009 issue.
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Retail-focused stock exchange PLUS has regaled investors again with news of upbeat trading volumes during January.
The AIM All-Share index dipped and rose slightly but essentially failed to move much over the course of February, starting at 667.27 points and closing at 667.24 as the market took a breather.
Snowfall fails to help retail recovery