This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Lloyds’ shares rise above break-even level, raising hopes for sell-off of taxpayers’ stake
Independent – 18 May 2013
http://www.independent.co.uk/news/business/news/lloyds-shares-rise-above-breakeven-level-raising-hopes-for-selloff-of-taxpayers-stake-8621903.html
Market Report: ENRC founders get bid breathing space
Independent – 18 May 2013
http://www.independent.co.uk/news/business/sharewatch/market-report-enrc-founders-get-bid-breathing-space-8621917.html
Lloyds privatisation could be imminent as shares hit break-even point
CityAM – 17 May 2013
http://www.cityam.com/blog/lloyds-privatisation-could-be-imminent-shares-hit-break-even-point
Lloyds sees share price reach government break-even point
Digital Look – 17 May 2013
http://www.digitallook.com/news/20904706/Lloyds_sees_share_price_reaches_government_break-even_point.html?&username=&ac=
Lloyds shares add 3.5 points to the UK 100 in morning trade
Economy News – 17 May 2013
http://www.economy-news.co.uk/shares/share-price-drivers/3456-UK Index -100-sees-lloyds-banking-group-plc-do-some-heavy-lifting-4543543
Lloyds leaps as a promise of profits brings it to break-even
Evening Standard – 17 may 2013
http://www.standard.co.uk/business/markets/market-roundup-lloyds-leaps-as-a-promise-of-profits-brings-it-to-breakeven-8620972.html
Shares in Lloyds hit government break-even price
Reuters – 17 May 21013
http://uk.reuters.com/article/2013/05/17/uk-lloyds-shares-idUKBRE94G09A20130517
Hopes of pay-back time for taxpayers as Lloyds shares pass break-even price
Independent – 17 May 2013
http://www.independent.co.uk/news/business/news/hopes-of-payback-time-for-taxpayers-as-lloyds-shares-pass-breakeven-price-8620655.html
Morrisons online shopping deal
CityAM – 17 May 2013
http://www.cityam.com/blog/ocado-shares-soar-agreement-morrisons-online-shopping-deal
Is Lloyds closer to privatisation?
Interactive Investor – 17 May 2013
http://www.iii.co.uk/articles/93251/lloyds-closer-privatisation
Eurovision’s Coming! What’s the Right Song for Europe?
CNBC – 17 May 2013
http://www.cnbc.com/id/100745674
GDP data lifts Nikkei to five-year high
CityAM – 17 May 2013
http://www.cityam.com/article/gdp-data-lifts-nikkei-five-year-high
UK 100 climbs higher as breaches 6,700
Proactive Investors – 16 May 2013
http://www.proactiveinvestors.co.uk/companies/news/56998/UK Index -100-climbs-higher-as-breaches-6700-0000.html
Market round-up: Footsie on climb for 11th day — but can it hold the 6700 level?
Evening Standard – 16 May 2013
http://www.standard.co.uk/business/markets/market-roundup-footsie-on-climb-for-11th-day–but-can-it-hold-the-6700-level-8619130.html
First-quarter figures push Heritage higher
Interactive Investor – 16 May 2013
http://www.iii.co.uk/articles/93003/first-quarter-figures-push-heritage-higher
DJ MARKET TALK: Heritage Oil Posts Strong 1Q Revenues
Dow Jones – 16 May 2013
Heritage Oil’s (HOIL.LN) 1Q revenues are strong, says Mike van Dulken, head of research at Accendo Markets. Heritage posts total revenue of $236.2 million, versus $2.3 million in 1Q 2012. He says while production levels are disappointing, they are already seen recovering to hoped-for levels within the next month, as temporary hindrances have been addressed. He adds although there is potential to regain recent highs of 220p, an overhang remains from the ongoing dispute with Tullow Oil (TLW.LN) and the Ugandan government.
Takeover bid flung out by Severn Trent
Express – 15 May 2013
http://www.express.co.uk/finance/city/399925/Takeover-bid-flung-out-by-Severn-Trent
Severn Trent rejects takeover offer
Interactive Investor – 15 May 2013
http://www.iii.co.uk/articles/92707/severn-trent-rejects-takeover-offer?icn=homepage_editors_pick&ici=homepage_editors_pick
Severn Trent “A Punt Worth Considering”
Dow Jones – 15 May 2013
Severn Trent (SVT.LN) drops 1.1% to 2054p after rejecting a takeover approach from a consortium of multinational funds. The shares hit a high of 2170p Tuesday after the approach became known. This pull back offers a second chance to get on board, says Marc Kimsey, senior trader at Accendo Markets, with many traders suggesting the first offer is seldom the final. A share price of “2400p isn’t out of the question and represents a decent short-term trading opportunity given the June 11 deadline,” says Kimsey. If talks break down a 10% retracement will return the price to pre-approach levels, but the 3.5% dividend will go some way to softening the blow, Kimsey adds. “This is seen as a punt worth considering.”
Eurozone crisis live: European project ‘in disrepute’ as public lose faith
Guardian – 14 May 2013
http://www.guardian.co.uk/business/2013/may/14/eurozone-crisis-finance-ministers-banking-union
CNBC Squawk Box Europe Interview
http://video.cnbc.com/gallery/?video=3000168326
Premier Oil flows gas in Indonesia
Interactive Investor News – 13 May 2013
http://www.iii.co.uk/articles/92154/premier-oil-flows-gas-indonesia?icn=homepage_editors_pick&ici=homepage_editors_pick
PMO shares struggling with technical hurdles, 350p back in sight?
Economy News – 13 May 2013
http://www.economy-news.co.uk/shares/share-price-drivers/3398-premier-oil-plc-shares-struggle-with-technical-hurdle-4543543
Business news and markets: live
Telegraph – 13 May 2013
http://www.telegraph.co.uk/finance/business-news-markets-live/10052999/Business-news-and-markets-live.html
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research