Jeremy Grime | Nov 11, 2019 08:10
Chart of the week
We need a positive chart for a Monday. This is the 10-Year swap rate minus the 1 month LIBOR yield curve which has “uninverted”. This tells us that the markets assessment of credit risk has reduced implying an improvement in economic conditions. Happy Monday.
Weekend
Tatton Asset Management PLC (LON:TAMT) – H1 Results
Share Price 214p
Mkt cap £119m
Conflict Disclosure: I Hold
AFH Financial (LON:AFHP) – Trading Update
Share Price 275p
Mkt Cap £118m
Conflict Disclosure: No Holding
Alpha Financial Markets Consulting (LON:AFM) - Acquisition
Share Price 194p
Mkt Cap £200m
Conflict disclosure: No Holding
Ince Group (LON:INCE) – Trading Update
Share Price 121p
Mkt Cap £45m
Conflict Disclosure: No Holding
Conclusion The valuation suggests the market doesn’t trust this acquisitive business which is more diverse than comparators. If this valuation is sustained the company may lose its acquisition currency and end up going private. Both that outcome or a re-rating are positive outcomes for shareholders.
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