Evil Diaries: Good Examples

Once political doubts and exchange control inhibitions settle upon a company the consequence is that however successful the underlying enterprise proves itself to be the market will not respond with anything like the enthusiasm deserved. This morning’s lead example is Beximco Pharma (BXP) which is turning in superb results. But the shares remain flat at 38p to buy. I still think it is worth taking a risk since there is a yield of the order of 7% and rising and the Bangladeshis are not so stupid as to block payment of this dividend to those on the London register. I remind readers that the price of this stock in Dhaka is at least twice the London level.

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Energy security is very important given that we may be heading for war in the not too distant future, but Deltic (DELT) has this morning announced that its North Sea prospect Pensecola has yet to be financed since prospective financiers are put off by the political outlook. The shares are down 17p at 22p to buy.

When the citizens are shivering in their bedclothes in a few years time they will no doubt be extremely grateful to the politicians who forced them this way by imagining that good examples set by the British will persuade the likes of China to mend their climate change indifference.

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Finally, Webis (WEB) this morning provide an upbeat declaration that they are ready to benefit in the coming weeks of the American turf season. WEB forebear to claim that profits are on the way. But if they are WEB is very cheap indeed at 1.5p to buy. Despite the fierce competition that WEB would face were it successful I still think the current capitalisation of the order of £5m is quite mad. This is worth a bet.