LONDON (ShareCast) - Questor in the Telegraph says the spreadbetting firm IG Group has done well to recruit high quality 'high roller' clients in the UK but the number of active clients (e.g. people making bets) has fallen one per cent in its home market. Australia has also seen the number of active clients drop. Yielding 4.7 per cent in 2012 with an earnings multiple of 13, Questor says hold for now.

In the Times, Tempus looks at pawnbroker H&T Group which yesterday told the market margins were being squeezed because gold prices were falling. Nevertheless, unlike its rival Albemarle & Bond, HT has been cautious on the rising cost of gold. Like-for-like sales are down 11% but new store openings mean total retail sales are up 7%. Trading at 8.4 times earnings which Tempus thinks this is “fair value”, so hold for now.

Tempus also ponders Heritage Oil which has a somewhat chequered history. Currently only producing from one field in Russia, it has a gas discovery in Kurdistan which may begin test production at the end of the year. The firm is also involved in a huge legal dispute in Uganda. The market has punished Heritage over that court case (which could be worth $405m) but if everything works out for the firm, the stock could rise sharply. Tempus admits there is an investment case but advises caution.


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BS

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