Finance Friday news #finance
I don’t have much news this week except for Solo Oil which made some progress as we await news of Ntorya 2. That well was spudded last month and I thought we might have news before now. Private investors are positive and more people are buying than selling. There are inevitably a few who bought when the shares were at the bottom who are taking their profits.
Like most penny shares these are high risk but the price is still only 0.325 of a penny. The spread is still close to 10% so it will cost you 0.34 pence to join in the fun. £340 for 100,000 shares with a possible upside of 1p share could make it a multi-bagger even now.
Banking share has been doing well this week too with much speculation that interest rates around the world are about to rise. It seems that the United States will lead the way on the rate rises. I’ve even heard stimulus mentioned in the same breath as a rate rise.
Results from Next were poor and that dragged down Debenhams. Debenhams could be undervalued now because we have no news on how well they did this year. Results from Debenhams along with a few other retailers will be out next week.
Premier Foods is down too and investors are asking if they had a good Christmas. They made a huge amount of mince pies but they are not the premium product that they used to be. There are still rumours of a takeover but we will have to wait and see if that is the case and wait for results too.
That’s all for this week.If you would like to follow this blog just enter your email address at the top of the sidebar. You can also follow me on Twitter for updates. There are links, pictures and news on my Facebook page.