Daily Stock Market Report (Fri 20 June 2025) - CARR, REC, DORE, LORD, CAML, IDHC, CYK, ORCH

Fri 6:05am by Graham Neary

32 comments 3763 reads

Good morning!

I'll be working on this report until about 10.00-10.30, when I'll need to start preparing for a chat with the management at Record (LON:REC). Please let me know if you have any questions you'd like me to ask them!

Alex has asked me to help share the new product release notes: dividend dates and news enhancements.

Spreadsheet accompanying this report: link

Wrapping it up there for today. I'll type up my Record notes next week. Have a great weekend!

Best regards

Graham

Companies Reporting

Name (Mkt Cap)	RNS	Summary	Our view (Author)
Berkeley group (LON:BKG) (£4.1bn)	Final Results	PBT -5% (£529m). ROCE 16.5%. “Well-placed to achieve our FY26 pre-tax profit guidance of £450m.”
Gulf Keystone Petroleum (LON:GKP) (£351m)	AGM Operational & Corporate Update	Production guidance unchanged (40-45k bopd). Capex & cost guidance unchanged.
Central Asia Metals (LON:CAML) (£286m)	Revised proposal with New World Resources	The prior offer was A$0.05/share. Observed a buyer at price above that. New offer: A$0.053/share. In a separate RNS, they announce that they've bought New World shares on the market at A$0.055.	AMBER/GREEN (Graham) [no section below] I have no particular view on this as it's outside my wheelhouse, so I will leave the AMBER/GREEN stance from Mark unchanged (see here). But I do find it interesting that they have been spurred into increasing their offer for New World Resources, after noticing that there was a large buyer of New World shares at a price higher than CAML had offered for the business. Those purchases, predicting that New World was worth more than A$0.05 per share, have turned into a self-fulfilling prophecy! CAML, anticipating some resistance to their initial offer, have now sweetened the deal. CAML have significant cash resources (US$67.6m as of Dec 2024) but their offer values New World at US$128m, so they will need to use their RCF to fund the deal.
Integrated Diagnostics Holdings (LON:IDHC) (£155m)	IDH Strengthens Egyptian Radiology Portfolio	Buys a radiology and radiotherapy facility in East Cairo for EGP 400 million (£6m).	AMBER/RED (Graham) [no section below] The deal sounds great but I have to retain our AMBER/RED on this due to the difficulty of assessing the Egyptian economy and the numbers in the context of a 17% inflation rate. But I have no reason to doubt that IDHC will success in its…

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snowdrop

Fri 8:04am

Isn't Downing the one with the Norwegian HEP cash machine? A much better asset.

Silver Moon

Fri 8:12am

Yes, it's an arbitrary thing of no consequnce to the PI.

mabie41

Fri 8:13am

yes mainly invested in hydro not wind and solar

Monty Carlo

Fri 8:18am

Indeed....I deliberately excluded that era when quoting my 8% and my returns on Berkeley group (LON:BKG) are higher, but there was a break in my holding period.

Wonderful opportunity as it was I would prefer not to revisit those years! I will never forget one of my younger team members turning to me, looking very pale and asking whether she should try withdraw her savings in Northern Rock....and also watching the HBOS share price going into complete freefall.

On days like that shares with solid asset backing have a quality all of their own.

Forget beating the index and all that nonsense. Asset allocation is the primary driver of your personal wealth, and having the confidence to stay invested in equities through a rough patch is an acquired skill that is just as important as stock selection.

Eric Ford

Fri 8:20am

By luck bought OrchardOrchard Funding (LON:ORCH) a few weeks ago as it was on 99.Still looks cheap?

bohenie

Fri 8:40am

Melrose Industries (LON:MRO) -Graham - A Q that has been asked before re a variety of shares - but isn't it time the lowly stocko rank of just 18 is reviewed for this share ?

Rusty2

Fri 8:46am

You could have bought Games Workshop (LON:GAW), Next (LON:NXT) Goodwin (LON:GDWN) and Diploma (LON:DPLM), they have not done too badly.

Yes, you are wrong, in my opinion.

PitBullCH

Fri 8:50am

Wrong - prices being over a certain fixed arbitrary value (£1, £20, £100 etc) as an investment blocker is just an emotional impediment.

GregH

Fri 8:51am

Hi Graham. Got a Record (LON:REC) question: "In moving into areas like infrastructure equity and Sharia-compliant trade finance, what’s Record’s unique edge beyond currency risk — and how are you positioning to compete with established multi-asset managers in those spaces?"

Many thanks

Camtab

Fri 8:53am

I have seen a lot of money lost on penny shares. You can have 2 companies with the same prospects market etc but one has issued one twentieth of the shares of the other, the price of this companies shares should in theory be 20 times those of the other company. It is no reflection on the share as a investment relative to the other.

Fri 9:00am

I agree, penny shares are far more risky, over £20 shares tend to be larger, well established companies, that have prospered over the years and not done any share splits. I'm not aware of any stocks doing IPOs at over £20.

grumpy5

Fri 10:03am

RHMD c €172 - I rest my case.

Threepeat

Fri 11:38am

Re offer forDowning Renewables & Infrastructure Trust (LON:DORE) why has there been no RNS from this Trust. If I only looked at my alerts from London Stock Exchange I would be none the wiser.

Is there something here I don't understand?

Orval

Fri 12:08pm

BRKA $728,000,000, a lot lot more than twenty quid.

BRKA has been a hell of an investment for a very long time.

Fri 12:15pm

Many US stocks are over £20 a share, despite share splits. Only 12% of my US folio is under $30?

Howard Adams

Fri 12:19pm

If you are interested in growth (with a lot of risk), innovation, space, geopolitical tailwinds, innovative trends. Then you might be interested to look at Eutelsat Communications SA (EPA:ETL) (note its on the Paris exchange).

Take a look at recent newsfeeds (see Stocko Discussion tab on the Stock Report page), and in particular the major shareholders - GB and French governments - in the top four holders. Over 84% held by these governments and other big holders.

I hold a starter position. I expect to cost pound/euro in/out with the ebbs and flows of this stock, but see it as a long term play on a macro trend in innovation, defence and national security.

Regards

Howard

Bouden54

Fri 3:39pm

It showed up on my RNS Stockopedia feed - I suspect it could be one your filters that's removed it so worth checking those first as I've missed a couple of RNS due to that.

Fri 3:57pm

Could be your settings? I do get them on Downing Renewables & Infrastructure Trust (LON:DORE). Although on Next 15 (LON:NFG) l get nothing at all and l know have been results and director buys, so it could be a system issue?

10Bagger

Fri 5:40pm

Hi, can someone please let me know where I can find the link to the spreadsheet where you can search all stocks covered recently, thank you

Fri 5:42pm

If you go to the top of this report, there is a link about 10 lines down.

Daily Stock Market Report (Fri 20 June 2025) - CARR, REC, DORE, LORD, CAML, IDHC, CYK, ORCH

Companies Reporting

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About the Author

Graham Neary

32 comments

RHMD c €172 - I rest my case.

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