Jeremy Batstone
Jeremy Batstone
beyond hold outlook remain uncertain
With the outlook beyond 2006 as uncertain as ever, we remain comfortable with our hold recommendation.
activity bit clear entirely levels market move near supported surprise
In the near term, there's a bit of momentum, so (a move over 6,000) wouldn't surprise me...It's entirely clear why the market is at these kind of levels -- it's being supported by M&A activity or rumored M&A activity.
achieve bid certain consensus far figures group negative partial perhaps previous price reaction reflect regarding results share
The negative share price reaction to these results may reflect certain disappointment... regarding figures which only met, but didn't far exceed, consensus expectations (as the group has been able to achieve in each of the previous two quarterly results announcements) and perhaps a partial evaporation of vague, but continuous, bid speculation.
corporate demand profits recovery sign supply
Even if there is an upturn in the U.S., there is no real sign of any recovery in corporate profit, ... There is too much supply and too little demand ? profits have got to come down.
attempt economic last stock volatility volumes week
Stock will attempt to rally, ... But we will not see the same kind of volumes and volatility as we did last week, however; economic indicators out this week could show the world is in recession.
correction currency local market percent run terms terrific
Japan's had a terrific run over 2005 -- the market was up 30-40 percent in local currency terms -- so some kind of correction was likely.
addressing dearth group indicate pipeline products quick results risk suspect
We find little in these results to indicate that the group is addressing the dearth of late-stage pipeline products right now and suspect that the risk of opting for quick fixes does not come risk-free.
continue doubt easier environment march next onward operating
There is no doubt that the operating environment won't get any easier for (general retailers) next year. Supermarkets continue their onward march into the sector.