Good morning! It's Paul & Jack here with the SCVR for Thursday.

Agenda - this is what has caught our eyes today;

Smiths News (LON:SNWS) - Jack covering its preliminary results (Jack holds, done)

Volex (LON:VLX) - Half year report (Paul holds) - webinar today at 11am on IMC platform (Paul holds, done)

Nwf (LON:NWF) - shares unsuspended, update on cyber-attack (Paul, done)

Norcros (LON:NXR) - Interims (Paul, done)

Ideagen (LON:IDEA) - Trading update (Paul, done)

Tt Electronics (LON:TTG) - Trading update (Paul, done)

Clipper Logistics (LON:CLG) - Trading update (Paul, done)


Timing - looks like it will be an all day job, as lots of interesting stuff to cover. Today's report is now finished.


NB. Jack writing this section

A changing of the guard or too soon to call?

This has been another defining week in the markets, with Monday’s vaccine announcement flipping 2020’s winners and losers more or less on its head. Is this a changing of the guard in terms of stock market performers or just a premature celebration set to fade?

I’m thinking about this carefully and am curious to hear what others make of recent developments from an investing perspective.

For a month or so now I’ve been looking for a bit more Value-Momentum - the idea being that we will at some point return to normal life (say on a two year view), and so those companies with bombed out share prices, promising strategies, strong management, and good upside potential might offer attractive risk:reward.

But cheap companies are never perfect and do tend to come with higher risk such as large pension funds, so DYOR. The below are not recommendations but might spark a bit of conversation.

I’ve held one Leisure stock through thick and thin: Fulham Shore (LON:FUL) . I did hold Marston's (LON:MARS) but sold on the spike up to 65p or so after the Carlsberg JV announcement. Now, with tangible (albeit preliminary) news of a vaccine I would buy back in if we saw some selling pressure there in the weeks ahead. I’ve also repositioned into Reach (LON:RCH) , Redde Northgate (LON:REDD) , and Smiths News (LON:SNWS) (but a…

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