Life after Brexit

Life after Brexit By Victor Hill About 20 years ago, I was descending a Monro (mountain) in Scotland – Beinn Bheigeir on Islay, to be precise – leading two beautiful young people back to the sea. (My niece and nephew: the girl is now an academic in Switzerland and the boy is in private equity.) And, as it can do there, the sky folded in suddenly, and the visibility reduced to, literally, the length of one's elbow. We could just about make each other out by voice and touch. I could sense that my charges were still smiling. I said: Don't move. I was aware that we were within fifty hundred metres of some precipitous crags – and that the map would be useless, because (this before the age of GPS) we didn't know where we were anyway. In the event, I couldn't even see the map… I knew that we might be in big trouble, but they were still at the chatting and laughing stage. But as we waited longer in the murk, they fell silent. After about fifteen minutes, fear took hold. But, just about then, maybe 500 metres ahead, the clouds parted: and I could see, for no more than fifteen seconds, the direction of the path, leading to a col that I knew would take us back to Port Ellen. Roped together, we continued down the path – and soon emerged into a sunlit glade from where we could see the white-horsed sea… and Port Ellen beyond. I felt like Moses leading his people to the Promised Land... Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,504.33, an increase of 144.27 points. The FTSE 250 rose 242.21 points to finish at 16,245.11. The FTSE All Share climbed 61.65 points to finish at 3,503.27. The FTSE AIM All Share finished at 706.79, up by 9.23 points. Shares in hydrocarbon producer Tullow Oil (TLW) climbed 7.20p to 262.20p despite the company warning that first-half revenues will be significantly below those in the prior year due to reduced production. The firm's new guidance is that total revenues for the six months will be around $0.5 billion, a drop of 37.5% from 2015, and that gross profits will be $0.2 billion. The company also said it will step up its exploration efforts with a new programme in Kenya and a fresh licence in Zambia.  Download our June issue today! Click HERE to read. Oil engineering services provider Wood Group (WG.) retained its existing financial guidance for the year, with EBITDA expected to drop by 20% relative to the prior 12 months. Conditions in the first half of the year have remained tough, but there has been some encouraging action upstream and in brownfield maintenance and US onshore. There are also signs that customers are beginning to look at future projects and management believe that the company is well positioned for these deals. Shares in the firm rose by 17.50p to 688p. Africa focused oil and gas explorer Lekoil (LEK) has converted a significant portion of its 'probable' reserves to 'proven' and received approval from the Nigerian authorities to begin the farm in at one of its fields. The firm's loss before tax widened to $18.7 million (£13.9 million), but management are confident that their strategy of focusing on low-cost areas will allow them to turn a profit once production commences. The shares rose significantly during the day but closed flat at 17.25p. Tomorrow's news today Pennon Group (PNN) will hold its AGM. Quote of the day "The more I see of the representatives of the people, the more I admire my dogs." - Alphonse de Lamartine Latest Stories Chart of the Day: RBS By Zak Mir At the time of the Global Financial Crisis all those years ago, my view was that RBS should be allowed to go to the wall. That is still my opinion. Indeed, to paraphrase the outgoing Prime Minister's comments with regard to Jeremy Corbyn, "for Heaven's sake" will someone close the bank down?… Click Here To Read The Full Story Wolseley: An Appealing Post-Brexit Play? By Robert Sutherland Smith Wolseley looks an appealing post Brexit play. Institutions looking for UK stocks in that sector with interests outside the UK will probably increase weightings. The cash and dividend position of the company improved greatly last year. These shares look good value and the technical position appears attractive... Click Here To Read The Full Story Where next for Sterling? By Samuel Rae On June 23, the UK voted to leave the EU. After years of campaigning and debates that transcended party politics, the UK is setting out alone. What this means for all involved remains to be seen… Click Here To Read The Full Story Chart of the Day: Cairn Energy By Zak Mir To coin a term I picked up before the EU Referendum, I am suffering from a degree of Brexhaustion, and therefore it seems wise not to pour oil on troubled waters. Rather, I'll take a look at the oil & gas sector and a possible opportunity there… Click Here To Read The Full Story All Aboard the Brexit Big Dipper! By Victor Hill At 04:39 on Friday, 24 June David Dimbleby announced that the BBC forecast was that REMAIN could not now win. Cut to a beaming Nigel Farage at a party somewhere talking about the British people getting their country back… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. 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