The good news this week was that RSA Insurance may be taken over by Zurich. That sent the price up to 518, but it has dropped back to 516.
That is enough for me, I was going to sell at about 500p, so I’m back in profit and it’s a reasonable return. The rest of my portfolio didn’t do so well, mainly weighed down by the AIM shares. Even having diverse investments, doesn’t protect us much when the whole market is down.
I think Solo Oil is particularly low considering they are about to become a producer. Similarly, Verona Pharma has dropped for no reason. The high was over 6p and it’s now down to 3.9; the lowest it’s been for a while. My other pharmaceutical is Immupharma, which has a promising drug for lupus. Again that is down to 42, but has been lower so I expect it to be stable around 42 until we have more news.
Brokers are giving a ‘buy’ recommendation to Premier Foods and we have had good news about their marketing campaigns and new lines being introduced. It still hovers around 40, down to 39 today. I think that price is low. I won’t be adding more because the rights issue made me over-exposed to PFD anyway. I expect it to soar once again if some good news comes out, maybe better sales figures.
Taylor Wimpey is the best performer, giving me an almost 100% return and again it’s going to pay a special dividend.
The economic news from around the world is depressing the stock market and it hasn’t really picked up since the fiasco in Greece.
Competition in the world economy is now more intense and despite the drop in the oil price companies are having to cut back and those serving government especially in the UK are looking at mergers and acquisitions in order to survive.
While I’ve been writing this the FTSE 100 has gone negative again and the only company on my list that has made a gain is Taylor Wimpey. There is a move to safe harbours every other day almost.
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