Autonomy and Wynnstay

Search software specialist Autonomy made a strong finish to 2008, despite facing currency headwinds. Fourth quarter revenues rose to $145.4m from $111.1m in the fourth quarter of 2007, making full-year revenues $503.2m, versus $343.4m the year before. Profit before tax in the fourth quarter more than doubled to a record $70.5m from $32.9m, while full-year pre-tax profit jumped to $185.7m from $91.5m.

Welsh agricultural products supplier Wynnstay posted a 61% surge in pre-tax profit for the year ended 31 October 2008 after 'very strong trading' across its agricultural and retail activities. Pre-tax profit rose to £5.22m from £3.25m in the period on revenues that increased by 49% to £234.6m. Agricultural business revenue increased 52% and operating profit up 112%, while specialist retail arm rose 42% with operating profit rising 45%.

A new year Rally

Today miners lifted FTSE but looking at the volume, the rise is not very convincing. Usually such low volume rallies are followed by a pullback or correction.

Only Logica, Antofagsta had slightly convincing volume.

Happy New Year

I heard the saying yesterday on one of the radio channels "Optimist is one who welcomes the new year, pessimist is one who waves good bye to old year".

There is sense of optimisn in the air. Everyone seems to believe that the worst is over and buried with 2008. I guess this is the kind of optimism that is required to kick start the things. Even though there are still some negative signals but I think over next few coming months we will see market improving.

wish you all a Happy and Prosperous new year.