Friday Email: 05 April 2013
Every Friday morning our lead analyst Mark Riding sends out his weekly run-down and upcoming events in the investor calendar, like this one:
That was a very quiet week on the corporate front and we have nothing to talk about in terms of dividend declarations because there were none. The equity markets look overbought but you would not bet against continued strength. Personally, I think there is value in the mining sector which has been absolutely hammered and offers up a great long term opportunity to buy into this important sector. There is value across the board in the sector. Next week remains quiet but the second half of the month really picks up with some of the dividend heavyweights reporting including Glaxo Smithkline, B.P, Associated British Foods, Unilever, Royal Dutch Shell and Whitbread.
The Friday email is delivered to over 20,000 subscriber’s every week, and remains a widely read run-down of recent events and what investors can expect in the week ahead written by our chief analyst Mark Riding.
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Read next: 29 March 2013
The week began with a boost from Cyprus as a deal was worked out and on Thursday their banks re-opened for business having been closed for 2 weeks. Afren produced some really good numbers and with those cash flows at some point we should see a dividend. I would not hold your breath though, as it could be a good few years away. Also on Monday, Kentz Corporation increased its dividend by 18% in dollar terms. On Tuesday, Kazakhmys reduced its dividend by more than 50%, and in contrast Bellway increased their interim by 50%. Wolseley increased their interim by 10%. What a turnaround we have seen in the housebuilding sector. Resolution increased their full year dividend by 6.3% and Kingfisher by 7%. Two more increases in the FTSE 100. Wednesday saw very little with plenty of companies going ex-dividend, but no declarations for us.
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