Friday Email: 03 June 2016
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 UK markets continue to trade in a fairly narrow range as we await the vote on the 23rd June, when, in my opinion, we will see markets moving outside of the 6050 - 6300 range decisively, one way or the other.
The past week was shortened by the bank holiday and also very few companies reported so the markets were dominated by opinion polls and voters and investors were hit by claims and counter claims regarding Brexit. The odds on Betfair have shortened for the leave better but they still remain very high at 3.65.
Marks & Spencer were hit by the ex-dividend factor yesterday and are trading lower again this morning. They are now trading at prices not seen since 2012 as a result of their recent restructuring announcement. At these levels, they look like good long term value backed by a good yield of over 5%.
The week ahead is also quiet on the corporate front so it will be more of the same unfortunately.
In dividend terms we have a bumper week again with a large number of companies going ex-dividend. Those with a yield from the single dividend of over 3% include Prime People, Air Partner, B&M European Value (special), Brammer and Vodafone.
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: 27 May 2016
The past week has been a week of solid gains as fears of Brexit reduced in the markets. According to the latest polls there has been an upswing towards the remain vote. It still looks tight to me, but the bookies are still firmly in the remain camp with their odds.
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