Special Finance Sector

David Cobbe

Junior member
Word of caution: if anyone is holding these stocks like 3i Group (III) for example, then you might want to anticipate further weakness in this sector. For example, it would not surprise me to see III sink below 1300 by Christmas.

Charts en route...
21/11/2000 14:55:57
3i Group : Holding in company

CGNU now hold 18,673,983 shares

Okay so III got a pop on the news: early days yet. But did you see Amvescap? Down nearly 9%? See what I mean about this sector? Take care out there people!
Looking long term, the Financials sector and within that, the Banks, Investment co's and Speciality Finance Groups have outshone everything else through the '90's. Only Health in the Non Cyclical Goods sector has similar straightedge plot.

I suppose the message is take care in the short term and buy on up-turn for longer term.
Point taken, but also remember that many of these companies (SFCs) back the internet start-ups in which many have gone boo.com in a virtual sort of way.

The Street.co.uk has belly-flopped by the way.
Amvescap down again heavily. I would really like to see 3i suffer more weakness before moving in, however.
Not sure if exactly the same sector but take a look at Seymour Pierce (SYP) formerly Talisman House
Currently 24p up 10% today on improved volume. Also announced that they have been appointed by Intermadiate Equity to manage their investment portfolio.
Guess who is an Exec Director? None other than Mr N W Wray with a 9.6% shareholding.
Prelim results due on 4th December. However trading update on 23/10 stated 'results are anticipated to exceed the company's expectations nd will be significantly ahead of profits for last year'

Suggest Charts in line for a breakout??
Leave it to you guys to confirm.

Good Luck