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Dow Jones – 13 Sept 2012
0859 GMT [Dow Jones] Next (NXT.LN) has disappointed markets with its 1H results, says Mike van Dulken, Head of Research at Accendo Markets. “While the financials for the period were solid…comments on recent trading were negative and most importantly vague, suggesting uncertainty and a tough outlook for the second half of the year,” van Dulken adds. Buybacks and the dividend increase may provide additional support. If Next sees any additional share price weakness, an eight-month trendline of rising lows around 3200p could offer support, says van Dulken. Shares sink 5.4% to 3386p. ([email protected])
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