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Ocado shares wobble after M&S relationship turns sour
Thursday 25 Apr 2024Shares in Ocado (OCDO) have fallen by 20% over the past month as the online grocer continues with its fractious relationship with joint venture partner Marks & Spencer (MKS ). Despite reporting average orders per week of 414,000, an 8.4% increase compared with the first quarter of 2023, and a...
United Airlines soars on upgrades despite Boeing-related hit
Thursday 25 Apr 2024Over the past six months United Airlines (UAL:NASDAQ) shares have gained over 45% as the US airline managed to shrug off negative news concerning delayed deliveries and canceled flights related to safety issues at aircraft maker Boeing (BA:NYSE) . On the day of its first quarter results (16 April)...
Retail sales not as bad as reported, while consumer confidence rises slowly
Thursday 25 Apr 2024There was a general wringing of hands on 19 April over the latest monthly retail sales figures published by the ONS (Office for National Statistics) which showed the volume of goods bought flatlined from February to March rather than increasing by 0.3% as expected. However, when measured on an...
Warnings from chip giants cast doubt over semiconductor optimism
Thursday 25 Apr 2024Chip stocks are coming under pressure from investors made nervous by hints of weakening demand during the first half of 2024. During the past week or so there have been warnings from industry bellwethers from Europe and the Far East, dampening enthusiasm just as earnings season gets going in...
FTSE 100 finally joins the new-highs club despite being unloved for years
Thursday 25 Apr 2024After almost closing at a new high in early April, the UK’s blue-chip FTSE 100 has finally made it into the ranks of indices hitting new all-time highs thanks to a 4.5% gain since the start of January. On 22 April the index reached its highest ever close and on 23 April it moved through its...
Lloyds Bank cuts risk monitoring in effort to drive change
Thursday 18 Apr 2024In a surprising development for a company which is usually considered fairly staid, Lloyds Banking Group (LLOY ) circulated an internal memo last month letting staff know it was ‘saying goodbye’ to a number people in its risk management team after an internal review found the function was hampering...
Lok’n Store shares leap on Shurgard cash offer
Thursday 18 Apr 2024Shares in AIM-listed self-storage site operator Lok’n Store Group (LOK:AIM) hit a new high last week after the firm revealed it had been approached by Belgian company Shurgard with a cash offer for the business. Shurgard’s offer of £11.10 represents roughly a 16% premium to the undisturbed share...
Shares in personal care firm PZ Cussons hit 20-year low
Thursday 18 Apr 2024Investors in Carex and Imperial Leather maker PZ Cussons (PZC) must be wringing their hands as they see the firm’s share price disappearing slowly down the plughole. Year-to-date the stock has lost over 40% of its value, while over one year it is down 53% and last week the price hit its lowest...
Has Associated British Foods-owned Primark maintained its momentum?
Thursday 18 Apr 2024Primark’s margin recovery narrative and sales performance for the second quarter ended 2 March will be in focus when parent Associated British Foods (ABF) delivers first half results (23 April). Shareholders will also be seeking reassurance the food-to-fashion conglomerate still expects ‘meaningful...
Prospects for US interest rate cuts reduced as inflation remains sticky
Thursday 18 Apr 2024Federal Reserve chair Jay Powell’s phrase ‘bump in the road’ to describe choppiness in the expected downward path for inflation is being tested following a third consecutive hot inflation reading on 10 April. Headline consumer price inflation for March remained elevated at 3.5%, while core...