In today’s Finance Show open, we discuss UK and US rates, GBP/USD, the recent trending news stories, broker upgrades/downgrades and the outlook for single stocks, with Nick Batsford, CEO at Tip TV, Keith Bowman, Equity Analyst at Hargreaves Lansdown, and Zak Mir, Technical Analyst at Zak’s Traders Café.
Broker forecasts:
BVS: The company seems to have made a cautionary comment on increase in profit margin. The management is not quite as bold as its counterparts, notes Bowman. He adds that despite this, the company remains upbeat. Deutsche Bank recommends a buy rating, targeting 1323 levels.
Technically, Mir highlights the nearest support at 850, and having seen a volume spike on the buy side, the stock remains a good bargain hunt.
IAG: Bowman comments that the stock is back on dividend list. Technically, Mir highlights that the price remains in a consolidation range. Goldman Sachs recommends a buy rating.
JMAT: Bowman notes that the stock prices have been hammered too much. Deutsche Bank and Citigroup both recommend a buy rating for the stock.
BoE rate hike: Pushed far away?
Batsford outlines FXStreet, who view that the BoE liftoff could be delayed into H2 2016, they also highlight the different potential scenarios for UK rates and the Pound over 2016.
HBOS: Ban or Jail time for staff?
Batsford outlined Nicole Elliott, who viewed that the collapse of HBOS has seen regulators recommending that the former senior staff at HBOS should be banned from working in financial services.
Live charting for single stocks by Zak Mir
IMT: The chart shows price rising beautifully. The stock saw a spike up today but failed to sustain it. While above the 50DMA further upside can be expected.
Mothercare: The share price sees support at around 220-210 area. The fundamentals remain dodgy but the share prices have held up quite well.
SOCO international: The share prices saw a persistence 200DMA failure and is heading lower towards the 110-120 area.
CRH: In a bullish situation. Upside towards 20GBP expected.
BNC : Charts show the price plotted a higher low versus September. In a potential bullish scenario, and back above 370-380 will give a higher high over the near-term.
UK Oil and Gas: Charts show the price sees a possible falling wedge formation which is bullish.
88E: Upside expected
Concluding the show, Bowman says that while we are coming to the conclusion of a Fed hike, the November hurdle lies ahead, and with commodities still trending lower – what does that tell about the China story?
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