THE TIPSTER
THERE will be no shortage of idle speculation as to why a French company wants to buy a British bank-note printer but overtures have certainly been made to De La Rue by a smaller Gallic rival.
After stumbling earlier in the year over production problems, the shares predictably surged on this news yesterday, but with paper currency showing no signs of disappearing any time soon, this could be seen as aggressively opportunistic by investors. IG Markets offers a spread on De La Rue of 775p-775.5p.
Vodafone continued with its assets disposal program by selling its stake in the French network SFR. The sale is expected to raise some £7bn. As a result of that, the weekend’s protests about tax avoidance at various stores across the country were brushed aside and the share price put in a decent gain.
The gains could well signal a reversal in the share price’s recent performance, and after bouncing neatly off the 160p level, it might well see a test of the 2010 high at around 180p again. Capital CFDs quotes a price of 165.8p-166.2p on Vodafone.
The cash and carry retailer Costco Wholesale, reports its first quarter earnings tomorrow, with its shares approaching some key resistance levels. At $68.50, Costco’s share price has not been as high as it is now for over two years, and it has rallied by more than 25 per cent since the summer, which is fairly impressive. Back in 2008, $68.50 and $70.00 proved to be strong resistance levels, so it might be worth taking a look for weakness around those areas again for a chance to sell short. $65 looks like the first area of support, then $63. Spread Co offers a spread on Costco Wholesale of $68.43-$68.54.