Taking Stock on Tuesday 2nd January 2024
New Year, New Bull Market?
If you look back at the last 2 big financial bear markets, whenever the AIM All Share rose above it's 200 day moving average it did a:
45% return from March 2003 - August 2004 before it touched it 200 day moving average again but still continued higher.
It went on to achieve a 95% gain by March 2005.
32% return in May 2009 - May 2010 before it touched it 200 day moving average again but still continued higher.
It went on to achieve a 91% gain by Janury 2011.
Screener for 2024
Companies Mentioned on Today's "Taking Stock" include:
07:30 Marks & Spencer #MKS
09:30 & 17:40 Time Finance #TIME
12:17 Angling Direct #ANG
14:35 Loungers #LGRS
15:45 Hvivo #HVO
18:20 LungLife AI #LLAI
21:45 Plexus Holdings #POS
26:00 Focusrite #TUNE
28:15 DG Innovate #DGI
28:25 Sareum #SAR
29:35 Elix Internationals #ELIX
31:07 Atlantic Lithium #ALL
33:40 Taylor Wimpey #TW.
36:00 Good Energy #GOOD
36:55 YouGov #YOU
TOP BUSINESS STORIES
UK house prices fall in 2023, to stay subdued next year, says Nationwide
British house prices fell by 1.8% in the 12 months to December, recording the biggest decline over the course of a year since 2008 during the global financial crisis, mortgage lender Nationwide said on Friday.
Robert Gardner, chief economist at Nationwide said, "If the economy remains sluggish and mortgage rates moderate only gradually, as we expect, house prices are likely to record another small decline or remain broadly flat (perhaps flat to down 2%) over the course of 2024,".
China’s BYD closer to taking Tesla's electric car top spot
Chinese company BYD has moved a step closer to toppling Elon Musk's Tesla as the world's biggest-selling manufacturer of electric vehicles.
The firm said on Monday it had sold a record 526,000 battery-only vehicles in the last three months of 2023.
That was helped by a more than 70% surge in sales in December.
US-based Tesla is scheduled to release its latest quarterly vehicle production and delivery figures before Wall Street opens on Tuesday.
For the year as a whole, Shenzen-based BYD said it had sold more than 3 million so-called-new energy vehicles (NEVs), which includes battery-only vehicles and hybrids.
Almost 1.6 million of its total sales were battery-only vehicles, the firm said.
Industry analysts have forecast that Tesla sold around 483,000 electric vehicles in the last three months of 2023 and 1.82 million for the year as a whole.
Motorway electric car charge point target missed, says RAC
A target for the number of high-powered electric vehicle charge points near motorways has been missed, analysis from the RAC shows.
The government wanted every motorway service station in England to have at least six rapid or ultra-rapid chargers by the end of 2023.
Data from the motoring organisation suggests that only four in 10 now meet this criteria.
In December, the RAC, a breakdown cover and insurance provider, looked at data from charger locator business Zapmap.
It found that 178 additional faster chargers had been installed since April.
However, only 46 of 119 sites now had six of these high-powered charging facilities in place. Rapid charge points can add about 100 miles of range to an electric vehicle (EV) in around 35 minutes.