Good morning!

Despite the continued spread of the coronavirus over the weekend (13 new cases in England, and hundreds of new cases in Italy), the FTSE Index is currently trading near 6700, having gained 150 points versus this time last Friday.

I was checking IG's "Weekend FTSE" yesterday afternoon. It briefly dropped below 6500, prompting me to drip a few more funds into my account there, just in case we had another spike lower.

Dripping more funds into the account was also in line with IG's advice to customers. Unusually, it wrote a message to customers on Friday, asking them to "prepare for high volatility" and advising that there was a "risk of gaps" over the weekend.

But for now at least, bulls on the index (such as myself) are enjoying some respite.

I wonder if it has anything to do with the sharp drop in new cases of the coronavirus in its Chinese epicentre, Hubei.

Or it could just be old-fashioned opportunism. I bumped into an experienced private investor yesterday evening, who said that he had spent the entire Sunday afternoon trawling through the index for bargains, because of the "great value" on offer at the moment. Time will tell if he is right. For my sake, I hope that he is!


Companies which issued noteworthy announcements this morning:

Timings: Finished at 13:30pm.



New article - I've written a special article for Stockopedia, outlining my reaction to recent news flow at Tesla ($TSLA). Here's the link.




Beeks Financial Cloud (LON:BKS)

  • Share price: 101.24p (+1.7%)
  • No. of shares: 51 million
  • Market cap: £51.5 million

Interim Results

This is the cloud computing company which runs data centres near financial exchanges, to give institutional clients the fastest possible execution of their orders. 

Key points here:

  • H1 revenues +23% to £4.3 million
  • annualised monthly recurring revenue +37% to £10.2 million
  • unchanged gross profit margin 49%
  • adjusted EBITDA +30%…

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