BEST OF THE BROKERS
WM MORRISON
Galvan Research says that plenty of time has now elapsed at Wm Morrison to allow the shares to absorb any doubts over a possible like-for-like sales slowdown, and the surprise departure of Marc Bolland. It says the stock is holding up well within striking distance of year highs, and there is every likelihood the shares will retest 295p in the run up to Christmas.
XSTRATA
Ambrian said yesterday that, while it had yet to initiate on Xstrata, it felt rival Antofagasta offered investors exposure to stronger copper volume growth in a shorter timeframe. The informal recommendation came after Xstrata Copper laid out its copper growth profile last week. It expects 60 per cent volume growth in five years, Ambrian said, but falls short of Antofagasta’s volume growth.
STHREE
Prime CFDs put out a “buy” recommendation on SThree, saying the international specialist staffing business’ full-year results are expected to be in line with consensus market expectations, and will include an exceptional item of £9m relating to the rightsizing of the group in the first half. It has a strong cash position, while stabilising markets add value, the broker said.