Sunday newspaper share tips
We round up the weekend share tips, looking at oil firm Enquest, Ecofin Water, Bloomsbury, Reckitt Benckiser…
Who's buying what: The newspaper tips digested.
Midas: Financial Mail on Sunday
At Enquest, chief executive Amjad Bseisu spent £28.1m buying just over 20m shares this month, while chief operating officer Nigel Hares spent £4.6m on 3.25m. Bseisu bought at 139p and Hares at 142p, both acquiring stock just after Enquest unveiled strong 2010 results.
Bseisu's massive purchase of shares should be interpreted as an indication of confidence in Enquest's future. Buy
Sunday Telegraph
Bloomsbury, the publisher famous for the Harry Potter series of books, last week said it had bought the back catalogue of the National Archives publishing programme. It has also entered into an agreement to co-publish a range of forthcoming titles.
The archives have an extensive back catalogue of historical documents and photographs. These relate to events such as the Titanic disaster and the Magna Carta, and Bloomsbury will publish new print books, e-books and iPad apps using material from the archive.
Bloomsbury shares were recommended because of its new strategy to 'generate value from within' - especially across digital platforms.
The shares were first recommended in The Sunday Telegraph on November 28 last year at 116p and they are up 13% at 131p, compared with a FTSE 100 rise of 6%. Buy.
Shares in Cillit Bang and Nurofen maker Reckitt Benckiser plunged recently following the surprise departure of group chief executive Bart Becht, who decided to resign. However, first-quarter numbers have caused the shares to recover some losses.
Reckitt recently bought Durex and Scholl brand owner SSL International and the company said the integration of this is on track, with £11m of cost benefits in the quarter. Shares are a buy at 3290p.
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