Over the longer term, UK small caps have historically outperformed their larger cap brethren, but prevailing investor sentiment towards smaller companies remains poor due to stubborn inflation, higher interest rates and recessionary fears. It won't be like this all the time.One smart way to gain exposure to the asset class ahead of an eventual rally, with a turn in inflation among the likely catal

For now, the escalating conflict in Ukraine shows no signs of easing. After the initial shock, markets were hopeful the economic impact of the war might be contained as the West's opening salvo of sanctions in response to Russia's invasion (24 Feb) were weaker than some had anticipated.However, any relief soon dissipated as Ukraine put up stiff resistance against the Russian invaders and sanctions

The past week has been a relatively quiet one when it comes to directors buying and selling shares in their companies with little of the volume usually seen, but there have been some notable deals.The biggest involves Vanessa Perrins, the wife Berkeley (BKG) chief executive Rob Perrins, who sold over 228,000 shares in the FTSE 100 housebuilder on Friday at £47.43 each, in a transaction worth arou

The devastating slide in Imagination Technologies (IMG) shares on 3 April after being ditched by its largest customer Apple is just the latest and most high profile in a string of setbacks for firms with heavily-concentrated client bases.Shares in the microchip designer fell by more than 60%, with more than £500m wiped off its market value, as Apple said it would stop using the group's graphics i

Defence business Cohort (CHRT:AIM) will need to generate 76% of its earnings per share in the second half of its April 2017 financial year if it is to hit consensus forecasts.Adjusted earnings per share (EPS) in the six months to 31 October fell 16% year-on-year to 5.99p against the 24.5p pencilled in for the full year. The company says the weak EPS number was due in part to a significant proporti

The FTSE 100 kicks off the new trading week with a smile, up 0.2% to 6,970, supported by gains in oil, gas and mining stocks. The large cap corporate reporting calendar starts to get very quiet from now on in December, but takeover activity is likely to remain the hot theme given many deals over the past month including Sky (SKY) last Friday.Today's bid action is concentrated at the lower end of t

A contract win (31 Mar) for defence technology specialist Cohort (CHRT:AIM) bolsters the group's long-term outlook as well as providing cash for further earnings-accretive acquisitions.Cohort subsidiary SEA has been awarded a further contract by BAE Systems (BA.) for the supply of its External Communications System (ECS) for the second stage of the common External Communications System (cECS) prog

Cohort (CHRT:AIM) 411pGain to date: 74.1%Original entry price: Buy at 236p, 29 Jan 2015Since we added the aerospace and defence business to the Plays portfolio at the end of January, the shares have advanced by 74%. Recent interim results (14 Dec) point to strong second-half visibility in its order book which should continue to underpin momentum at the £169.3 million cap over the coming months.In

Our best ideas portfolio has significantly outperformed the stock market in 2015. This shows the power of good stock picking. Our actively-managed Plays of the Week tips have delivered an average 7.1% return on a 12-month basis, excluding dividends.In comparison, the FTSE All-Share is down by a miserable 1.4% over the same period. When we adjust the FTSE All-Share performance so the comparison sta

A wave of profit warnings is shaking the foundations of the aerospace and defence sector. Picking through the wreckage we remain positive on running Play of the Week Senior (SNR) at 234.7p but lose our previous faith in turnarounds at Meggitt (MGGT) and Chemring (CHG) and are also negative on Cobham (COB). All three have warned about trading issues since the middle of October.(Click on chart to en

The UK defence industry is in rude health, judging by the number of people who visited and exhibited at the DSEI arms fair in London during September. With 30,000-plus visitors; more than 1,500 exhibitors from 120 countries, including 40 international pavilions; the show was also attended by at least 100 international delegations.This bodes well for a sector that has come off peaks generated by US

Despite a 65% advance year-to-date we think there is more to come from defence specialist Cohort (CHRT:AIM) at 382.1p.Shares visited the business at a key site in Beckington, Somerset to take its temperature. Recent acquisitions, sound fundamentals (as exemplified by a steady newsflow of contract wins) and a highly competent management team suggest the momentum should continue well into 2016.Hands

The £13.3 million acquisition of Portugeuse defence specialist EID on 5 August by Cohort (CHRT:AIM) looks like another good bolt-on deal for the £150 million cap.EID, a supplier of advanced electronics and control systems for the global defence market, will join MASS, MCL, SEA and SCS as the fifth member of the Cohort stable. Like its counterparts it is a cash-generative business with a strong o

Cohort (CHRT:AIM) 293.5pGain to date: 24.3%Original entry price: Buy at 236p, 29 Jan 2015While the temptation might be strong to cash in on the near-25% gained by defence specialist Cohort (CHRT:AIM) since featuring it as a Play of the Week on 29 January, we think that upside remains at the £120 million cap.Cohort was able on 25 June to report a full-year financial and operational performance ahe

Headline figures showing a 40% rise in full year revenue at high-tech defence specialist Cohort (CHRT:AIM) are good news but given the forward looking nature of the market it is a build in the order book which is likely driving the counter almost 5% higher to 277.5p.Cohort was able to report a financial and operational performance ahead of expectations across its four divisions and this was driven

After five days of consecutive gains the FTSE 100 was back in the red on Thursday as hopes for an overnight deal on Greek's looming debt repayments were dashed. In mid-morning trading the FTSE 100 had recovered a little to trade down 5.25 points at 6839.56. The FTSE 250 just nudges into positive territory - up 2.62 points to 17,927.60.Among the mid-caps packaging group DS Smith (SMDS) climbs 2.5%

Robust forward visibility on its order book, impressive cash generation and the expectation of a strong second half all bode well for investors in defence technology specialist Cohort (CHRT:AIM).And following the bedding down of a couple of apparently successful acquisitions last year, the Berkshire-based £97 million cap could also augment its position with further acquisitions this calendar year

The stock market's smallest and riskiest companies have always held fascination for private investors. On the premise that 'elephants don't gallop, but fleas leap,' to borrow Jim Slater's often quoted phrase, it's easier for a tiny company to double its size, and investor's money, than for a big one. Let's face it, a blue chip company worth £1 billion will find it much harder to double or even tr

The potential for value enhancing deals and a recovery in niche areas of defence spending in the UK is not reflected in the current rating afforded to Cohort (CHRT:AIM). Based on an enterprise value of £59 million and house broker Investec's forecast free cashflow (FCF) of £6.3 million the cash generative Reading-headquartered concern trades on an enticing looking FCF yield of 10.6%.The company

Trinity Mirror (TNI) whips up a storm after 21.5%-owned Press Association sells its weather forecasting business, MeteoGroup for €190 million. PA will report a £125 million profit on disposal. Trinity will book an exceptional gain once the transaction completes. An unspecified portion of the proceeds will be given to shareholders as a special dividend. Trinity rises 7.1% to 188.75p.After two