Shares digital

Global shares failed to stage a much-wanted bounce back as the new year started, amid all-time highs for oil and gold, and grim unemployment data in the US. As Shares hits the newsstands on Thursday, the Bank of England decides whether to cut the cost of borrowing. Traders agree that the Bank will wait to cut rates, which could mean that things will keep fairly quiet on the FTSE.

Not for us, who are making good gains across both old and new plays. The most startling trade is Soybeans. We bought the commodity at 1108c, as every sign pointed to a rally. Low stock levels, strong demand and a general bullish sentiment towards commodities saw the price jump to 1208c, which bags us a juicy 9.03% profit. The 1218c target could be just around the corner.

Insurer Hardy Underwriting (HDU), which we tipped on the back of a strong earnings outlook, its move to Bermuda and speculation of a bid approach, is also fattening our pockets, trading 2.38% up from the buying price. This is despite other financial institutions being hit last week among renewed credit crunch fears.

National Grid (NG.), which has been in our portfolio since the end of November, surged to 856.5p at the start of the week, giving us a sound 5.09% gain. The outlook for the utility is positive and traders should continue considering utilities a haven in these stormy times.

Sadly, we had to register some losses too, most notably with our long exposure to gold. The commodity touched the all-time high of $850 an ounce, which meant that our play was stopped out of the portfolio.