Friday Email: 23 December 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 FTSE 100 has ended the week pretty much as it started and is not too far away from its all time high, which means that it has been a decent year for equity investors and unlikely to take a downturn in the last few trading days of the year. In my view we will see an all time high on the FTSE 100 by year end.
The past week has been very quiet on the corporate front with very few earnings reports or dividend declarations.
Photo-me continued their good run since their excellent interim results with the CEO, Serge Crasnianski buying 1,934,644 and 2,892,607 shares in the company on the 16th and 20th December respectively to take his holding to 22.48%. Meanwhile, after an awful run post Brexit, ITV have pushed on strongly in the past month and are up over 20% with analysts saying that they are worth 300p in the event of a bid. Much more than that in my opinion.
The week ahead remains very quiet as we head into the Xmas break. There are a few companies going ex this next week with the most attractive yield on offer coming from KCOM. It looked very attractive this morning but the shares rose 4% today. Worth watching in case it does head back towards 90p.
Wishing you all a good break.
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: 16 December 2016
The FTSE 100 has had a reasonably good week and is up about 70 points. At the open this morning it is trading above 7000.
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