THE TIPSTER
COMPUTER games and consoles firm Game Group will update the market today and investors will be looking for news on a successor to Lisa Morgan, who left her position as chief executive in April. The firm’s share price has suffered since December following repeated profit warnings. Today’s statement could mark an end to the poor performance, but a directionless update could see the shares head back towards the March lows of 78p. Capital Spreads quotes 87.4p-87.9p for Game Group’s share price.
UK design and engineering giant WS Atkins, which is working on the London Olympic Park, is expected to post a 10 per cent fall in underlying profits today. However, it recently said that it continues to trade confidently despite turbulent markets and has a “particularly strong” cash position. The shares are up 10 per cent since the start of June but have met resistance at the 738p level. Traders should look for a strong close above 740p for a move to 800p. Spread Co offer a spread on WS Atkins of 730.45p-734.05p.
Luxury handbag maker Mulberry, which is due to submit a trading update today, has enjoyed an incredible year. Its share price has risen from 57p last June to above 200p. However, following this week’s announcement of a partnership with Target and with talk of a possible flotation, analysts believe there may be further climbs to come. Spreadex has a December-based Mulberry contract with a spread of 199.1p – 214.6p.
The BP saga has weighed heavily on global equity indices during recent weeks but there was some positive news yesterday for the US S&P 500. The index turned positive for the year and rose above its 200-day moving average for the first time in a month. Could it finally be that the worst of the repercussions from the oil spill in the Gulf of Mexico is over and the downtrend in equity indices has come to an end? ShortsandLongs.com has a daily June spread of 1,108.7 – 1,109.0 on the index.