Last year we banked a more than 40%, less than 7 months, offer-to-bid gain on Wood Group (WG.) at 300.3p. That proved good timing with the shares eventually falling back towards 150p before then recovering to above 250p again. However, they are now available at a 155p offer price and are again a Buy.
I am sure there will be some investors who are excited to hear that Centrica (CNA) shares are back to rejoin the FTSE 100, whilst others are disappointed that ITV (ITV) and Royal Mail (RMG) shares - among others - are exiting. None of the three interest me at the moment, but I was a bit disappointed that Johnson Matthey (JMAT) shares have not been quite strong enough to rejoin. Maybe that is coming next quarter as I believe the stock is cheap (as noted last week HERE). Another stock which did not return to the FTSE 100 (and frankly I don’t think it ever will) was Wood Group (WG.) but it has made a noteworthy announcement today…
There are very few stock markets around the world open this Friday, so that makes it a four day investment week. But it is far from dull out there given a bunch of the world’s biggest American banks are out with quarterly numbers on Wednesday and Thursday. Plus there are set to be a bunch of interesting updates from FTSE and other UK market names - I may have commented on once or two before - starting tomorrow. In short, I look forward to an Easter egg (or three) to help rebuild a bit of energy. However I thought today might be a bit quiet…until I saw news from John Wood Group (WG.)...
Did you read Gary’s article on Johnson Matthey (JMAT) yesterday? It is a good read and I completely agree that its formal numbers in a couple of weeks time are going to be of great interest. For what it is worth, I think there will be a return to a thirty quid plus share price at some point over the next two or three years. Anyhow, another stock I am thinking about today is Wood Group (WG.), ‘a British multinational engineering and consulting business with headquarters in Aberdeen, Scotland’, which I last wrote about HERE.
