Ask Andy: Chesnara continues to attract buyers
Andy Brough, star fund manager at Schroders, revisits the shares he's previously covered to assess how the market has changed.
Andy Brough: Share tipper
Sitting on a campsite in the South of France I have found a copy of the Financial Times, so I have been able to look at the prices of the stocks now compared with when I wrote about them.
Despite being in a dull area of the market it was good to see that life insurer Chesnara has continued to attract buyers.
Even after the recent price rise, the shares continue to trade below their net asset value and yield 9.5%. I am still happy to buy these shares.
PV Crystalox has had a turbulent time since I wrote about them in April. The shares soared from 80p to over 100p and have since done a very good impersonation of Icarus and fallen back to just over 80p.
The results this week reflect the tough conditions in the solar industry, but the company still has €80m euros (£69m) in the bank and the shares offer a good yield. I remain a long-term fan of solar energy and that's not just because it's hot down here.
The hotel company Millennium & Copthorne has been a strong performer, though probably not on the rumours that I might be upgrading from this mobile home next year.
The new chief executive officer is really getting to grips with an excellent asset base to significantly improve returns. The shares still trade at about half the asset value and I would expect that gap to close.
Despite the daily comments about who is going to cut Government spending by how much, shares in Babcock have risen from 440p to more than 500p.
Whichever party gets elected will have to outsource more to the private sector and companies such as Babcock will be in an excellent position to benefit from this.
I wouldn't buy the shares after this recent run, but I would definitely think about adding if they fell back to about 450p.
Two stocks I have written about - Earthport and Trafficmaster - have yet to win the trust of the market that their business models are capable of sustainable growth.
Since my recommendation, Earthport, which offers international bank payment services, has said it has received a takeover approach and is considering all strategic options.
But rumours abound that the deal is off. I have continued to add to holdings and have spoken to the management team about the need to draw a line in the sand and get on with running the business to take advantage of the large opportunities.
Trafficmaster, which offers fleet tracking and route-finding services for company vehicles, will announce its results in the next few weeks.
I recommended the shares below 30p and have been adding to my holdings under this level. Both these shares have been volatile in recent weeks, but that is par for the course for technology-related stocks.
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