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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Elementis - Euro 23m fine is repealed

August 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ELM
  • Price:
  • 180p
After pounding the top of their range for some time the shares finally broke to new highs, following the bonus news that the European Commission has repealed the decision in 2009 to fine Elementis Euro 23.4m, based on a finding that it had participated in two cartels during the 1980s and 1990s. As a result, it will repay the full amount plus interest, equivalent of 35% of its pretax profit last year.First half results, due early next month, are likely to show that the strong trading in Q1 has continued. Tipped as a front-page write-up at 156p in April the shares look set to move higher. Keep buying. ...

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