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Premier foods and the market #finance

I’ve had an interesting week watching the stock market with Premier Foods soaring to new highs. Overall, thanks to Premier Foods my portfolio appreciated by around 10% this week. My mistake of buying too many shares in the maker of those exceedingly good cakes came good at last! I now have the potential to sell PFD and Barclays at a profit. I can then wait for the rest of my portfolio to come good. I’m not going to be in any rush to sell. I think both shares are worth keeping a little bit longer.

Premier Foods

Premier Foods

The new arrangements at Premier Foods to pay pensions and the plan to sell Hovis pushed the share price up. Then the results which reflected better trading during the lockdown sent the share price soaring. It was the only good bet on the whole market and so attracted some attention. The directors bought shares after the results came out which inspired more confidence. I originally paid 4p a share in 2011 but there has been a consolidation and a rights issue since then. Overall I paid 46.625 and today the price is 71.9 but I had to wait 9 years! I think the return calculates at around 5% a year. In this era of ultra low-interest rates that isn’t too bad a return!

Barclays and Lloyds

The shares I recently bought in Barclays are 24% up and so that isn’t a bad return. I expect they will go to 150 or even higher. Barclays and Lloyds are closing branches and both banks have good apps for online banking so I expect they will both be good long-term bets. Lloyds has publically said they will return to paying a dividend and do share buybacks when this epidemic is over.

Lockdown

During the lockdown, I didn’t spend much money and I’m still effectively in isolation. I have only spent money online over the past three months except for a bit of cash I spent getting my hedge cut. There are a few things I can’t get so easily online but I think I can continue for some time without using shops. I will have to buy petrol, though. I’ll wear my mask!

Behaviour

The behaviour of a lot of people queuing for Ikea and crowding on to the beaches shows there are some strange things going on in their minds. It has to do with their image of themselves which is defined in many cases by their homes, their clothes and their cars. They have a need to show the world that they have status. They need designer furnishing and designer labels. The reason they are crowding onto beaches and parks might be to show of those, oh, so fashionable tattoos.

Dedicated follower of fashion?

I am no dedicated follower of fashion but I do have my own style and likes and dislikes. I bought a pair of linen chinos which I’ve never worn. I thought they would be cool in warm weather. I haven’t worn them this week because I’ve been messing around in the garden. I decided to wear them today but then the weather forecast changed! I’m comfortable in my Wrangler jeans and Tesco tee shirt!

FTSE 100

That’s all for today.  I’m still watching the market and I’ve added Avast to my watch list. They’ve moved up into the FTSE 100. I’m hoping Premier Foods will move into the FTSE 250 soon too. If you would like to subscribe to my blog just enter your email address in one of the spaces provided or follow me on Twitter for links to the latest posts. Those links are also on my Facebook page.

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