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Poundland to show drop in pre-tax profits
Poundland - Updates on Thursday 19/11

It is expected to show a drop in pre-tax profits to between £9m and £9.6m from £12.6m the previous year.

Poundland recently updated on weaker first-half trading in September against a tough equivalent last year and warned profits would be lower year-on-year.
Despite the fall, analysts are predicting Poundland’s total sales to be boosted by 50 new store openings. It is also set to launch its first TV ad as it pushes the brand in the run up to Christmas.

Poundland’s £55m takeover of rival 99p Stores was given the all-clear in September, boosting its footprint on the high street by 40pc with another 251 shops. A presence in Spain may also help boost the stock. With stores in Spain under its Dealz brand investors will be looking to see if further expansion is a good idea based on profitability there.

Shares in the company declined 36% from the highs in February to the lows in late September around the 268p – since then prices have hammered out a base but been capped at 300p and presently trades in the middle of the narrow range. The rise in the daily RSI indicates further bounce may be on the cards should momentum carry.
A push through the 50DMA at 290.66 would help cement a challenge on the 300p mark.

A double bottom may be in play here but will need confirmation of a break above the 300p mark. This would target (textbook) the 333p level which coincides with the trend line resistance from the February highs.

A break below support at 268 would implicate a move to 246p.

Average 12 month PT from 12 brokers is 357.22p. Rating Breakdown : Buy/hold/Sell = 7/5/0

The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please note that 71% of our retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money.

14-12-2020

GBP jumps on Brexit talks extension
The British pound has jumped in early trading this week after the UK Prime Minister and EU Commission President agreed to extend Brexit talks beyond Sunday. MARKETSThe S&P 500 fell on Friday, wrapping up a losing week, as the outlook for additional fiscal… Read more

10-12-2020

AirBnB IPO today
At its IPO price of $6 per share, Airbnb ABNB, is expected to raise at least $3.5 billion with an initial market capitalization topping $40 billion. MARKETSStocks fell on Wednesday, retreating from the record highs set earlier in the day, as tech shares strug… Read more

9-12-2020

S&P 500 closes over 3,700
MARKETSThe S&P 500 closed above 3,700 for the first time ever on Tuesday as Pfizer started to roll out its coronavirus vaccine in the U.K., lifting hope of the economy recovering in the near future. The Dow Jones gained 0.4% while the Nasdaq Composite clim… Read more

8-12-2020

Global stock market cap reaches $100 trillion for 1st time
The value of all the stocks in the world put together has reached a giant $100 trillion for the first time. MARKETSThe Dow fell 0.69% Monday, led by Intel and broad-based weakness in value stocks as rising Covid-19 restrictions offset optimism over an imminen… Read more

4-12-2020

Pfizer vaccine supply chain problems
MARKETS The S&P 500 fell slightly from record high. Major U.S stocks indices cut gains quickly in the final hour of trading after Dow Jones reported Pfizer now expects to ship half of the doses it had previously planned this year after finding raw materia… Read more

2-12-2020

Dollar Purge Continues
The US dollar dropped to fresh two-and-a-half year lows on Tuesday, with EUR/USD rising above the widely-watched 1.20 handle. MARKETSNews• Stocks in Asia-Pacific were mixed in Wednesday morning trade after major indexes on Wall Street surged to record highs o… Read more

1-12-2020

Bitcoin hits record high
The price of Bitcoin climbed 8.7% on Monday to reach a fresh record high of $19,857.03 - overtaking its previous peak made in 2017. MARKETSNews• Asia stocks rise as the Caixin/Markit manufacturing Purchasing Managers’ Index for November came in at 54.9 — its… Read more

30-11-2020

OPEC meeting starts
Today OPEC+ begin a 2-day meeting to decide whether to begin producing an extra 2 million barrels per day of oil, or delay for another 3-6 months. MARKETSNews• Asia-Pacific markets are mixed this morning while S&P 500 futures are down half a per cent. Ind… Read more