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Friday Email: 31 May 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:

The market has held up reasonably well following last weeks falls. A half term week that was shortened by the bank holiday on Monday produced little of note on the corporate front. I still remain nervous of the market short term and expect further downward correction. Previous dividend of the week, Caledonian Investments increased their dividend by 10% yesterday. Tate & Lyle (5.2%) and Severn Trent (8.2%) also increased their dividends, whilst De La Rue and Brewin Dolphin both maintained their dividends at last years level. In spite of a drop in profits, the weeks star performer was Victrex increasing its dividend by 15% in a show of confidence for the future.

Next week is very quiet in the UK, but the US market is pretty busy. Keep an eye on the yield on the US treasuries as this has been gradually rising, reaching a 13 month high this week. This has led to a reversal in highly defensive sectors such as the utilities. If this were to take place in the U.K, then we could see the same situation. It is a difficult one that would suggest a bullish economic picture overall, which would be good for equities generally. I think it is too tough to call at this stage. I will try and get some opinions over the coming week...

This email was originally sent on Friday 31 May 2013

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