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How Trump’s Covid-19 diagnosis has impacted stock markets

Thursday 08 Oct 2020

US president Donald Trump’s coronavirus diagnosis and three-day stint in hospital dominated headlines and market sentiment. Schroders chief investment officer Johanna Kyrklund says stock markets have a ‘tendency to overreact’ to daily news around elections, while George Lagarias, chief economist at...

The options for Rolls-Royce shareholders as £2 billion rights issue looms

Thursday 08 Oct 2020

Shareholders in Rolls-Royce ( RR. ) are being asked if they want to back a £2 billion rights issue aimed at securing the company’s future. The rights issue is fully underwritten by a panel of investment banks, meaning Rolls-Royce is guaranteed to get the full amount even if shareholders don’t take...

What Asda’s sale means for supermarket rivals

Thursday 08 Oct 2020

Asda’s takeover by billionaires Mohsin and Zuber Issa and private equity group TDR Capital will have implications for UK rivals including Tesco ( TSCO ) , Sainsbury’s ( SBRY ) , Morrisons ( MRW ) and Marks & Spencer ( MKS ) . US retail titan Walmart has announced the sale of a majority stake in...

Cineworld faces liquidity crunch as cinemas close again

Thursday 08 Oct 2020

Cinema group Cineworld ( CINE ) may need an extra $300 million liquidity to get it through the current crisis, having announced plans to close its UK and US cinemas again on a temporary basis. Investment bank Jefferies says as at 31 August, Cineworld had c$260 million in liquidity (c$150 million...

Housebuilders rally on Boris Johnson’s bid to help first-time buyers

Thursday 08 Oct 2020

Shares in UK housebuilders rallied on 5 October following reports that the Government wants first-time buyers to be able to take out long-term fixed-rate mortgages with just a 5% deposit under a scheme referred to as ‘Generation buy’. This could potentially act as another tailwind for the property...

Rising costs could cause problems for Boohoo

Thursday 01 Oct 2020

Extra costs in multiple areas of the business present a headwind for fast-fashion retailer Boohoo ( BOO:AIM ) . First-half results on 30 September failed to excite the market as better than expected sales growth was overshadowed by guidance for lots of extra spending. Customers returning fewer...

A bidding war looks unlikely for William Hill

Thursday 01 Oct 2020

Investors went full tilt on 25 September when they pushed William Hill’s ( WMH ) shares up 44% to 312p after the company confirmed it had received separate takeover interest from private equity group Apollo and gambling business Caesars Entertainment. The enthusiasm proved short-lived and on 28...

Novacyt starts to live up to the hype as contracts roll in

Thursday 01 Oct 2020

Whenever a business announces anything linked to a treatment, vaccine or test for Covid-19 their shares go ballistic, and there appears to be substance behind global diagnostics play Novacyt’s ( NCYT:AIM ) progress in this area. The company enjoyed strong gains on 29 September with the shares...

Stakebuilders swoop on troubled firms including Sainsbury’s and HSBC

Thursday 01 Oct 2020

Various well-known stock market names with distressed share prices have attracted interest from third parties, potentially as a precursor to pushing for a change in strategy or making a takeover approach. Stakebuilding is a popular tactic used by large shareholders before making an offer for the...

Greggs shares at two-year low as sales boost fails to convince

Thursday 01 Oct 2020

An improvement in trading during September wasn’t enough to convince the market that Greggs ( GRG ) can recover quickly from the pressures of Covid-19. Its shares fell 3% on 29 September, leaving them languishing at a two-year low. The retailer is adding back items to its menu after only selling a...

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