THE TIPSTER
OIL giant BP has been trading at levels that have been described as an excellent buy opportunity. And with the well-head in the Gulf of Mexico capped, the share price is spurting higher although the company could still be seen as a bid target.
Interim results on 27 July will be closely followed as traders look for indications of BP’s total liabilities and for updates on asset disposals to foot the bill. The current IG Index price is 406.74p-406.56p.
Having offered a humble apology to competitor Easyjet last week, Ryanair’s interim management statement will be under scrutiny tomorrow. The airline has performed well throughout the economic downturn. But as saturation points approach, the talk now is of a switch to paying dividends. If it becomes a cash cow, then the shares could quickly become popular but don’t forget the lingering uncertainty over where oil prices continue to go. Ryanair is trading at, and the current IG Index price is €3.8012-€3.8088.
Severn Trent is reporting on Tuesday and it has benefited from being a traditionally defensive stock during times of uncertainty and financial worry. Its share price has done very well in the past 12 months and it could have further to go. Capital Spreads is currently quoting 1,282.3p-1,285.7p.