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Like all other banks, the poorer outlook for credit markets will force Royal Bank of Scotland to keep more assets on its balance sheets, potentially hitting the bank's return on equity. If all that comes true, the p/e ratio on RBS shares could begin to look less attractive, says the Sunday Telegraph.

From a long-term perspective, RBS shares probably represent good value. But it seems unlikely that institutional investors will buy back in a significant way until after the entire banking sector has published audited full year results, with detailed notes to the accounts explaining credit positions in full. Don't buy back in yet.

Cineworld, the UK's second-biggest cinema chain, listed on the main market of the London Stock Exchange in May. Its shares have fallen almost 40 per cent in the past six months. Citigroup analysts last week dropped their rating on the stock to "hold/high risk". The Sunday Telegraph says 'Sell'.

Xcite's dual listing has gone largely unnoticed and its shares fell sharply on the first day of trading. Analysts at Mirabaud have come out with a buy recommendation on the stock, with a price target of 190p - 200 per cent upside to the current share price. The Sunday Telegraph thinks the shares are worth a look; there is virtually no exploration risk as the oil's presence has been previously proven. A risky buy.

Jetion doubled capacity last year, producing panels that would generate 50MW of electricity. It is on track to double that again this year, and has already built and funded the new buildings that will house this expansion, and the next phase too. Sales this year are expected to come in at about £100m, a 120 per cent increase year on year, while profits will more than double to £10.5m.

The shares are trading on about eight times forecast earnings, a huge discount to similar companies on other exchanges. It may take some time for the market to be convinced of Jetion's merits, but the Sunday Telegraph thinks it's worth a look. Buy.
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