LONDON (SHARECAST) - Gem Diamonds, the huge diamond miner, shot up like a rocket yesterday after announcing a 112 per cent rise in operating profit during 2011.
Questor, in the Telegraph, has tipped Gem’s rival Petra repeatedly but has been burnt by Gem in the past as the diamond price has been highly volatile. With plans to possibly sell its Ellendale mine and supply deals with the likes of Tiffany, Gem looks strong. The recommendation is buy on weakness.
The Times’s Tempus column ponders whether to move in on office space provider Regus. Pre-tax profits were up 93% in 2011 as the company looks to build more space overseas. Occupancy in the UK is a problem, down at just 81% versus the 86.1% for the group as a whole. The stock dropped yesterday by 7.8%, Tempus thinks it has further to go. Buy.
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