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Research Tree provides access to ongoing research coverage, media content and regulatory news on ARMADALE CAPITAL PLC. We currently have 30 research reports from 4 professional analysts.

Open
1.65
Volume
0.2m
Range
1.60/1.67
Market Cap
4m
52 Week
1.38/4.25
Date Source Announcement
14Jun12 07:00 RNS Final Results
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Breakfast Today

  • 08 Dec 16

"Having backed Brexit with an overwhelming majority yesterday, voting in favour of triggering article 50 by 31st March 2017, MPs also supported the labour motion calling for the government to unveil its proposals ahead of this date in order to permit minister to 'properly scrutinise' the plans. Accepted the motion was Theresa May's concession to keep her timetable on track, but has it made the likely outcome any clearer? No really is the answer. The government is still awaiting the result of its appeal at the Supreme Court, which is expected in January, which will require MPs to separately approve the issue if it loses. Meanwhile, of course, the EU's lead Brexit negotiator, Michel Barnier, has conveyed three principal messages regarding the process of this divorce, namely: (i) that negotiations should be shorter than the prescribed two years, lasting less than 18 months; (ii) the EU-27 remain his overriding priority and; (iii) the final outcome will be financially worse for the UK than under its existing EU membership. While not mentioning the UK's outstanding financial liabilities to the EU in his recent deliberations, Mr Barnier told colleagues he estimated the British exit bill wcould be as much as EUR60bn, and settling this matter would be a necessary first step toward building a new partnership. Not that European woes will be on the minds of investors first thing this morning. US equities surged once more overnight, as the Dow Jones burst through to another record high and all other major indices surged well in excess of 1%. Traders were unable to point at a specific trigger for this buying, other than pointing at a large number of futures contracts that had been placed by automatically by program trading algorithms which, in turn, accelerated purchases in the cash markets, as strategists across New York recommended sharp increases in equity weightings while suggesting that the Trump-inspired bear market in government bonds still has some way to go. Asian equities mostly rode again on Wall Street's coat-tails, with the ASX leading the way as its commodity-heavy index continued to drive higher on spiking minerals prices and the expectation of increased global activity. The Nikkei also put in a strong performance, despite reporting growth figures quite sharply below first estimates, leaving only the Shanghai Composite to record a fractional loss. Europe today is due to make its interest rate decision, followed by a press briefing by ECB president, Mario Draghi; bond investors are already betting that he will confirm a 6-month QE extension, although they will remain sensitive to any suggestion of a future timetable beyond September 2017 to commence tapering. No significant macro data is expected from the UK today, but later this afternoon the US is due to release its jobless claims numbers. UK corporates due to report earnings or trading updates include Capita (CPI.L), DS Smith (SMDS.L), Mulberry Group (MUL.L), Ocado (OCDO.L), Servoca (SVCA.L), Sports Direct (SPD.L) and TUI (TUI.L). Traders will also remain aloof for further details regarding the overnight transaction between Russia and a consortium formed by Glencore (GLEN.L) and Qatar, in which a 19.5% stake in the state-controlled oil giant, Rosneft, was sold in a deal valued at US$11.3bn. Such a disposal of part of the country's 'crown jewels' will quite possibly be seen as a sign of financial stress from Putin's government, and lead investors to consider what other valuable assets might also be put on the auction block. London equities will again ride the bullish wave coming from across the Atlantic, with the FTSE-100 seen rising some 15 points in early trade." - Barry Gibb, Research Analyst

Breakfast Today

  • 06 Dec 16

"Markets quickly recovered their composure following the Prime Minister of Italy's shock resignation yesterday, with all major global indices closing in the positive. Near-term focus remains on the impact of international reflation, with investors asking whether the ECB's meeting on Thursday will be brave enough to conclude that the European economy is now sufficiently strong to propose cutting back the amount of bonds it stockpiles from the EUR80bn it has been buying every month since March. While such a possibility was signalled by Mario Draghi in an interview with Spanish newspaper El Pais last week, any tapering of its purchases would likely accelerate further the current sell-off in government bond markets, spiking yields and threatening stability of highly-indebted countries, like Italy, while also stunting growth in the region's more prosperous regions. Whatever, the expectation that Trump may oblige the Federal Reserve to effectively 'look the other way' as let the economy 'run hot' despite rising inflation continues to boost equities at the expense of Treasuries, as the Dow Jones hit yet another record high yesterday and technology stocks returned to favour sufficiently to push the NASDAQ up over 1%. Riding on the back of Wall Street, Asia was also firmer across the board, although the Shanghai Composite ended only just in the positive, as the traders considered Trump's latest criticisms of Chinese policy on social media to be a sign of tough trade and tariff negotiations to come. Almost adopting a 'if you can't beat them, join them' approach, the Bank of England's Mark Carney yesterday also entered the debate, calling on policy makers to pursue a better mix of fiscal, structural and monetary policies, noting that for too long central banks have been "the only game in town"; he also repeated earlier guidance provided by his officials that the Bank will be prepared to let annual inflation drift above its 2% target in order to support economic growth. Having seen this morning's BRC November same-store retail sales post 0.6% growth year-on-year, with the overall figure up 1.3%, no further significant macro data is expected from the UK today, although the US will release Factory Orders this afternoon. UK Corporates due to provide earnings or trading updates include Ashstead (AHT.L), Imagination Technologies (IMG.L), Northgate (NTG.L), On the Beach (OTB.L), Ultra Electronics (ULE.L), Vianet Group (VNET.L) and Wolseley (WOS.L). London is seen opening nervously this morning, with the FTSE-100 seen down 12 points in opening trade." - Barry Gibb, Research Analyst