THE TIPSTER
SPORTS retailer Sports Direct is continuing to do well, rising to as high as 110p last week after opening Monday’s trading session at 102p. The stock lost some ground towards the end of the week, but there could be another recovery to come in the run up to Christmas.
ShortsandLongs.com has a rolling spread of 98.9p-99.5p.
After 1 January, VAT goes back up to 17.5 per cent and the UK consumer will really take a bashing. Retailers are expected to struggle as a result so it might be time to go short on high-street names such as Marks&Spencer. Capital Spreads offers a price of 401.6-402.3.
Last week, Investec upgraded platinum mining giant Lonmin to buy from hold and lifted its target price on the stock to 2,075p from 1,525p.
This could be an opportunity for spread betters to jump into the stock at low levels. IG Index is offering 1,782.2p-1,786.8p.
The price of spot gold has fallen over 7 per cent in the last week from its all-time record high of $1,226, triggered by the surprisingly stronger non farm payrolls out of the US and a strengthening US dollar.
With gold prices trading sideways for the last three days, will the recent fall be enough to encourage traders to buy back? City Index was offering a spot gold price of $1,127.1 – $1,127.6.
Tips last week to sell miners Vedanta Resources and Petropavlovsk proved successful and there could be further to fall in both stocks.
IG Index is offering a December spread on Vedanta of 2,393.5p-2,405.1p and a daily spread on Petropavlovsk of 1,192p-1,199p.