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British stocks fare well

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08/02/2008

Despite recent market fluctuations, traditional British stocks appear to have weathered the storm as this week’s business results were dominated by BT, Rolls Royce, British Land, British Gas and BP.

Nick Raynor, investment adviser at retail stockbroker The Share Centre, said: “Despite a mixed bag of results, investors shouldn’t be disheartened and should look towards the future. These traditional British companies are a good stalwart for any investment portfolio, and any value that once existed has only been enhanced by the recent volatility.”

The Share Centre says BT’s shares are relatively stable, compared to the rest of the market. Raynor said: “For investors wanting a safer bet, offering a solid yield (of approximately 6%) and the prospect of steady dividend increases, BT could be the stock to choose.”

Rolls Royce’s long-term order book has risen by 76% (£45bn). Its order book for Asia and the Middle East has also done well, having doubled to £20bn and Raynor said expected exposure to the weaker dollar in 2007 will have inevitably affected results, but that given the current market weakness, Rolls Royce could be seen as an ideal long-term opportunity for investors.

Raynor added: “Property sectors have enjoyed a good start to 2008 because they were undervalued at the end of 2007. As a result, British Land’s results have also been positive.

“Although British Gas dividends have increased, it is still a growth stock for investors. And despite announcing weaker profits earlier this week, we still view BP as a good long-term stock.”

 

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