Wednesday, October 26, 2005
Fayrewood takeover rumours fuel rise
October could end an up month or a down month, it is going to be close.
Dana Petroleum, the largest holding in my portfolio has lost around ten percent of its value recently but Fayrewood has advanced since my last update.
Fayrewood has advanced since announcing trading was continuing in line with forecasts and expectations and that the company remained in takeover discussions. This morning the shares are up over 3% following a newsitem in the Guardian newspaper (http://www.guardian.co.uk/business/story/0,3604,1600486,00.html) suggesting a management buy-out of the company was on the cards at 140p. At 119p to sell the shares are now well clear of my buy prices and are making a real contribution to my returns.
Meanwhile, my other very large position, SVB Holdings, the Lloyd's insurer will be updating the market soon with syndicate forecasts. I expect news on utilisation of the reserves set aside for the discontinued business units could trigger a substantial upwards re-rating of the shares.
The Artful Dodger
Dana Petroleum, the largest holding in my portfolio has lost around ten percent of its value recently but Fayrewood has advanced since my last update.
Fayrewood has advanced since announcing trading was continuing in line with forecasts and expectations and that the company remained in takeover discussions. This morning the shares are up over 3% following a newsitem in the Guardian newspaper (http://www.guardian.co.uk/business/story/0,3604,1600486,00.html) suggesting a management buy-out of the company was on the cards at 140p. At 119p to sell the shares are now well clear of my buy prices and are making a real contribution to my returns.
Meanwhile, my other very large position, SVB Holdings, the Lloyd's insurer will be updating the market soon with syndicate forecasts. I expect news on utilisation of the reserves set aside for the discontinued business units could trigger a substantial upwards re-rating of the shares.
The Artful Dodger
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