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A new week, a new suspension, as Joules Group (JOUL), the “true premium lifestyle brand with an authentic heritage”, announced an “Intention to Appoint Administrators and Suspension of Trading in Shares". Is it a huge surprise? Not really (and you can see now why Next plc (NXT) decided not to take a stake a few months ago). Meanwhile, and back to shares I do actually own, I see that Wood Group (WG.) is handing out $115 million in a “Settlement of Enterprise litigation case”. But the shares are only down 1% or so today.

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Wood Group (WG.) has announced its results for the first half of 2022 and that it expects an improved performance in the second half, including being helped by an improvement in its Turbines joint ventures.

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Just under three months ago, I observed that “Wood Group (WG.) won’t re-join the FTSE 100, but that’s not the forward story…” and talked about the opportunities and challenges of “one of the world’s leading consulting and engineering companies operating across Energy and the Built Environment”. And is the new CEO working on a positive surprise, as I hoped a quarter or so ago, too?

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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.

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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…

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