Daily Stock Market Report (Mon 25 Nov 2024) - KGF, BMK, ITV, SNX, JNEO, MTL

25th Nov '24 by Graham Neary

95 comments 8093 reads

Good morning!

Before we get started today, I wanted to point out a fascinating article written by our colleague Alex Naamani - When Dividends Turn Dangerous. Something to read over your morning coffee.

I'd also like to point you towards our new spreadsheet with records of the stocks we've covered since 5/11/24. It's a work in progress and does need to be improved but for a quick snapshot of the companies we've covered and the stances we've taken, it should do the job.

Now let's see what the RNS has in store!

Wrapping this up just before 1pm. Special thanks to Keelan for his section on MTL. Have a good day!

Explanatory notes

A quick reminder that we don’t recommend any shares. We aim to review trading updates & results of the day and offer our opinions on them as possible candidates for further research if they interest you. Our opinions will sometimes turn out to be right, and sometimes wrong, because it's anybody's guess what direction market sentiment will take & nobody can predict the future with certainty. We are analysing the company fundamentals, not trying to predict market sentiment.

We stick to companies that have issued news on the day. We usually avoid the smallest, and most speculative companies, although if something is newsworthy and interesting, we'll try to comment on it. Please bear in mind the "list of companies reporting" is precisely that - it's not a to do list. We have a particular emphasis on under/over expectations updates, and we follow the "most viewed" list of readers, so if you're collectively interested in a company, we'll try to cover it. Add your own comments if you see something interesting, and feel free to discuss anything shares-related in the comments.

A key assumption is that readers DYOR (do your own research), and make your own investment decisions. Reader comments are welcomed - please be civil, rational, and include the company name/ticker, otherwise people won't necessarily know what company you are referring to, if they are using unthreaded viewing of comments.

What does our colour-coding mean? Will it guarantee instant, easy riches? Sadly not! Share prices move up or down for many reasons, and can often detach from the company fundamentals. So we're not making any predictions about what share prices will do.

Green (thumbs up) - means…

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timarr

25th Nov '24

is it just me that has noticed the dramatic fall off in the numbers of posts in this SCVR (or whatever you call it now) board since Paul left and set up on his own?

Out of sheer boredom at the dreariness of the comments section I recently counted the number of SCVR comments that included some level of stock analysis on a couple of days. One day there were 7 out of 113, another 9 out of 104. And when I say "analysis" I'm being off the scale generous. "Mentioned" might have been more honest.

Last Thursday there were 66 direct stock related comments out of 116, plus an interesting discussion on AI that got me thinking.

There may be good reasons for following Paul, but the quality of comments since he left isn't one of them.

cadmunkey

Same here, mine renewed today and I saw the money off for new members :(

Harry Hindsight

Any miners in jurisdictions which need cash to support their economy are at risk of ever increasing tax/bungs/etc. Killing the "golden goose". South Africa er anywhere outside of North America is a risk trade.

planetx

Just read the RNS history

For example may 24 montgomery gets over 600,000. Ltip at 0.01p

Why does someone who already owns over 7% of the comoany need these ?
and why at 0.01p.

Montgomery is a dinosaur and a pocket filling clown who does not loo after his shareholders

There is now very likely to be an EGM called by a shareholder over 5% bringing hom to account .

RichardK

My subscription renewed today and I paid £295. I have been a member since Sept 2013. i have suggested to Stocko that there should be loyalty discounts for members > 5 years and a further discount for members > 10 years, Some support from other members would be welcome.

I just want it to be faster. Seem so slow and clunky. Often network catching up messages. Ok lots of data to resolve. Went onto Amazon Web Services a while back.

Need to compare with Seeking Alpha which is US focused. But do like Stockos layout and charts - but as everything don't kill the golden goose. Conservative Party certainly didn't know what a goose was not just what to kill.

ken mitchell

Ridavies.

It could be my posts you’re referring to, and hence the links to the relevant threads and links to them helpful posters here have already posted for you.

The difficulty is in me finding the specific post you want to read again as I’ve posted a lot of different ones both on threads I’ve started here and on the excellent Investment Trust threads on Stockopedia set up and run by my namesake Charles Mitchell.

I’ll do my best to help you but it’s SO difficult finding past posts here.

Charles Mitchell

Very odd- I have been a member a few years, not sure why I got a discount ? Maybe I will not when payment taken next week.

davidjhill

Why do you think that Rogerh?

Kennedy has publicly said he is not against vaccines per se but he is pro choice and pro transparency.

What that means in my view is the likelihood is that phase 3 trials will become more expensive. That in turn should mean it is likely that pharma will turn increasingly to challenge studies since they are far cheaper to run and more or less tell you the same thing BEFORE you spend any phase 3 money. Ie avoids wasting money on failed phase 3

Secondly hVIVO (LON:HVO) are focused on growing Asia ~ the last two large contracts came from there. So the US whilst important is by no means the only thing hVIVO (LON:HVO) is reliant on. Then you have the fact that this is a UK and European company that operates solely out of those regulated environments so faces none of the US rhetoric, aside from some of its clients demand or spend from the region.

Then we have the 35% net cash position.

The company would be wise in my view to issue some sort of trading statement though given the decline in share price. Either someone knows something the rest of us dont - which would be very bad form - or this is a classic case of the current small cap environment where any potential read across is taken as a sell signal until proven otherwise with a hefty dose of poor liquidity thrown in.

Anyway let’s see.

jonno

Brickability (LON:BRCK) If one believes the recent in line trading update and there is no reason not to the shares are very cheap. The update cites positive momentum in order intake, particularly for bricks indicating improving sentiment around recovery in the current financial year. Also the share price drop today occurred on very low volume. We shall see what tomorrow brings.

ITV (LON:ITV) an increase in short interest is unusual on bid rumours. However it is fantasy in my view for ‘shorters’ to fabricate rumours in order to improve their trade. Are Sky News that gullible? I would be very surprised.

More likely the rise in the share price has created an opportunity to profit further should the rumour turn out to be just that. Again speculation. I know that I have no idea!

neilt

I totally agree Penny. In my younger days I had 3 gymnasiums in South Africa and whenever we ran a promotion for new members we always made it available to existing members as well. If they still had an unexpired membership we simply added it on afterwards. I think we won a lot of custom by doing this as there were always a lot of complaints about other gyms giving better deals to new members and ignoring existing members. I always felt that other gyms were acting unethically, but unfortunately it's just the way businesses operate these days. Having had my moan, I must say that I appreciate Stockopedia and I do receive value. However they need to look after loyal customers.

Michael_P

Apparently short interest is up slightly today in ITV (LON:ITV) see comments here. Definitely some food for thought to get a balanced view of this.

Hi Dragon

Where did you get your information for today’s increase in short interest in ITV (LON:ITV) ?

Research tree show an increase in short interest to 5.1% over the last month.

Dragon

Research Tree or shorttracker.co.uk

EDIT:

My original post came from an email from Research Tree today, worded:

"The level of disclosed Short Interest in ITV has changed materially.

Short Interest has moved from 4.54% on the previous trading day to 5.11% today. That is a movement of 0.57 percentage points."

But looking on Research Tree it occurred on Friday 22nd.

BlackRock Investment Management (UK) Limited	0.70	0.48	22/11/2024
GLG Partners LP	1.50	0.09	22/11/2024

apozniak

This is really tricky. As a 'Group' of existing subscribers we should welcome new subscribers coming in that contribute to Stocko's revenues, spreading their costs over a wider subscription base and leaving more left over for investment in the service. That a new subscriber comes in and pays less in year 1 than we do doesn't decrease the value to us of our existing subscription. If we thought of ourselves as shareholders rather than subscribers we'd welcome the top line growth. I suspect many of Paul's initial subscribers see themselves as co-owners with Paul of his substack (although that's difficult to scale).....But....we are individual subscribers and it can be quite rational to act in our own individual interests. I personally really value the Stocko service and the huge value-add these subscriber discussion boards bring. But do I feel like a co-owner or a subscriber right now? I guess I must feel like the latter as I've just cancelled my auto-renewal. How I'll feel when my renewal comes up in February will inevitably depend on the offer I receive from Stocko but I'd much rather the offer at that point made me feel like a co-owner.

26th Nov '24

Morning Dragon

Thank you for your reply, if the short interest increased on Friday, prior to Sky News breaking the story about a potential bid, this suggest that those who shorted ITV (LON:ITV) may well have got burnt. No sympathy from me if they did.

Rusty2

This comment has been moderated

Cockerhoop

27th Nov '24

Good post,
Trade sales are lower GM as the product is sold to trade at 55-60% of RRP. It's also worth noting that trade volumes are therefore a higher % than the financials suggest due to this. GAW always sell the product at RRP. The fact that GAW online is more expensive than trade online probably accounts for the lower growth at GAW online although site hits are currently running around 20% ahead in Sept & Oct (SM2 effect).

Deegee Eff

16th Dec '24

Only just seen this. Ok so he has been given £65,000 worth of shares , but he has resurrected another newspaper group.

I suspect shareholders have more important things o think about.

He got over 4m shares last year, for nothing.

Daily Stock Market Report (Mon 25 Nov 2024) - KGF, BMK, ITV, SNX, JNEO, MTL

Explanatory notes

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Graham Neary

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