View the article online at http://citywire.co.uk/money/article/a576121
What should I do with shares in Imagination Technologies?
The Diary of a Top Stocker continues with a guilty confession over BP (BP.L) and a cry for help on Apple supplier Imagination Technologies (IMG.L).
It’s been nearly a month since I last wrote about how I was getting on with the Citywire Top Stocks portfolio. So far, it’s been a so-so experience.
Just to remind you, I have been given £10,000 by Citywire to invest in shares of the companies on our Top Stocks list. This is a compilation of the top 10 holdings of a panel of five UK fund managers chosen by our Citywire Selection team.
For a full list of the funds they recommend, go to the Citywire Selection page.
My guilty BP secret
Since I last wrote, I have piled into BP (BP.L). I confess this wasn’t part of some well thought out plan. More of a knee-jerk trade, I’m afraid.
A comment in the Financial Times on 5 March that the shares were likely to do well after its legal settlement in relation to the Gulf of Mexico oil spill had me splashing just over £1,000 of my company’s money on 196 BP shares.
It’s been a disappointing move so far. The shares, which I bought at 508.65p, didn’t rise much on the day and closed today at 483.4p. I’m not so much annoyed at the fall, but at myself for thinking I could make a quick buck. I don’t think I am a day trader!
BP wasn’t my favourite oil play, so I may sell it later down the line and reinvest the money. However, that may be some time off as I’ve still got £6,000 of Citywire’s money burning in my pocket.
Down, but plenty of money left
So far, including dealing charges I am down 4.25%, with the £3,999.60 I invested worth just over £3,829.
Vodafone (VOD.L) is up 2% today but has fallen 4% over the past month since I bought it and my other two defensive holdings. GlaxoSmithKline (GSK.L) has edged up and is up 1% over the month, while Shell (RDSb.L) closed 1.2% lower today and is down 1.8% over the month.
I was surprised to see from my Barclays Stockbrokers that I have as much as £15,832 available to invest. Is the bank tempting me to spend money I don’t have? Perish the thought! I shall turn a blind eye or I will have our accounts team on my case.
New Top Stocks
It’s tough keeping up with events. Just as I get accustomed to the stocks on my list, another monthly update comes along and changes the line-up.
New additions this time round are Micro Focus International (MCRO.L), the software provider owned by Derek Stuart, manager of the Artemis UK Special Situations fund; Yule Catto (YULC.L), the chemicals manufacturer held by Edward Legget, manager of Standard Life Investments UK Equiity Unconstrained ; Misys (MSY.L), the banking software provider being pursued by Vista Funds; and Taylor Wimpey (TW.L), the house builder. The last two are both top 10 holdings of Richard Buxton’s Schroder UK Alpha Plus fund.
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Look up the funds
- Artemis UK Special Situations I Acc
- Standard Life Inv UK Equity Inc Unconstr Ret Acc
- Schroder UK Alpha Plus A Acc
Look up the shares
- BP PLC (BP.L)
- Royal Dutch Shell Plc (RDSb.L)
- GlaxoSmithkline PLC (GSK.L)
- Vodafone Group PLC (VOD.L)
- Micro Focus International PLC (MCRO.L)
- Yule Catto & Co PLC (YULC.L)
- Misys PLC (MSY.L)
- Taylor Wimpey PLC (TW.L)
- Experian PLC (EXPN.L)
- Rolls-Royce Holding PLC (RR.L)
- Standard Chartered PLC (STAN.L)
- Lupus Capital PLC (LUP.L)
- Devro PLC (DVO.L)
- Imagination Technologies Group PLC (IMG.L)
- Cookson Group PLC (CKSN.L)
- DS Smith PLC (SMDS.L)
- Howden Joinery Group PLC (HWDN.L)
- Galliford Try PLC (GFRD.L)
Look up the fund managers
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- Citywire Top Stocks
- Citywire Selection
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