Listed on the London Stock Exchange:
BP 391.90p +15.60p (+4.14%) - since purchase on 10/6/2010
BARC 290.85p +2.25p (+0.78%)
CAU 46.25p -1.75p (-3.65%)
CRWN 30.50p 0.00p (0.00%)
FPER 5.50p +0.12p (+2.23%)
FCCN 42.00p 0.00p (0.00%)
FOGL 201.50p +0.65p (+0.32%) - since purchase on 11/6/2010
GAR 3.38p 0.00p (0.00%)
JKX 240.40p +8.40p (+3.62%)
LLOY 54.33p -1.11p (-2.00%)
LLPE 59.75p 0.00p (0.00%)
MAI 153.50p -2.50p (-1.60%)
QQ. 119.80p -8.20p (-6.41%)
RBS 42.37p -1.12p (-2.58%)
UNG 2.88p +0.13p (+4.55%)
Listed on New York Stock Exchange:
C $3.88 +$0.09 (+2.37%)
The euro debt crisis never seems to go away for now since Hungary may be the next Greece. That, fears over levy on banks and BP's continuing problems sent the markets down earlier this week. Then it began to rise again due to mainly strong metal export data from China. Worse than expected US job and retail sales data interrupted the rise towards the end of the week a little bit but it was not enough to reverse the direction. Overall FTSE All-Share finished the week 0.78% up while my portfolio finished 0.68%, due to concerns of LLOY and RBS exposure to the euro debt crisis. The portfolio loss is now 3% (3.1% if BP (BP.) and Falkland Oil & Gas (FOGL) not included).
On Wednesday rumours of BP's problems regarding the oil spill resulting the company going insolvent sent it's share price down 16% to 348p before recovering most of the loss on the same day. It seems that particular noisy information have caused this massive overreaction as traders and investors sold their stakes in huge numbers. I went in the opposite direction, that is, I bought some shares in the company near it's two year low. At that point I realised that the stock may be a contrarian one since it's share price fell massively from around almost 660p. This is the preliminary analysis I have done so far on the stock as at the close of 11/6/2010:
The stock is within the lowest two quintiles for P/E, P/BV and P/CF. It is within the highest two quintiles for dividend yield. I will provide the full analysis about week from now.
I also bought shares in FOGL because there is a good probability of the firm, along with Rockhopper Exploration (RKH), finding economically viable oil north of the Falkland Islands based on very sound preliminary drilling test results.
Posts
