THE TIPSTER
AFTER this column tipped a sell of dollar-Canadian dollar at C$1.0675 on Tuesday of last week, the loonie rallied hard against the greenback late in the week and dropped all the way down to C$1.0303 by Friday afternoon. The market has suddenly started to price in a possible interest rate hike in Canada following the news of the surprise fall in unemployment in June. $1.0275 is the next support level, but our target is still $1.020. Spread Co offers a spread on dollar-Canadian dollar of C$1.0303–C$1.0307.
IP Group jumped 5 per cent last week following the announcement of good news for a major holding in its portfolio: Revolymer. The company, an international chewing gum manufacturer, has received a boost after obtaining US Food and Drug Administration approval for its innovation of removable and degradable chewing gum. With the gum also in the final stages of approval in Europe, the firm expects it to be on the shelves next year. Say goodbye to the perennial plague of hard gum stuck under desks – and make a few pennies by going long on IP Group at the same time. Spreadex offers a spread of 35.16p-35.59p on IP Group.
Unilever has received favourable attention. JP Morgan Cazenove says the stock is good value and worth a buy. IG Index offers a spread of 1,833.2p-1,836.8p.