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Activist investor buys into Scottish Mortgage as buyback is announced
Thursday 28 Mar 2024It has been a busy time for shareholders in Scottish Mortgage Investment Trust (SMT) , but it has been a fruitful time too with the shares hitting new 12-month highs in March. First, the board announced it would buy back at least £1 billion worth of shares in order to help narrow the discount to...
Springfield Properties hits new highs as confidence recovers
Thursday 21 Mar 2024It’s something of a rarity to find a housebuilding company whose shares are hitting new 12-month highs but regional developer Springfield Properties (SPR:AIM) is flying high after its first-half trading update. The firm, which builds new homes in evocative locations such as Elgin and Inverness...
Focusrite shares nosedive after company warns on sales and earnings
Thursday 21 Mar 2024Shares in Focusrite (TUNE:AIM) took a turn for the worse this week, at one point falling 32% intraday as the professional music and audio products group downgraded 2024 full year sales and profit expectations. The group said ‘challenging’ market conditions first highlighted at its AGM (annual...
Scottish Mortgage tackles NAV discount with £1 billion buyback while Witan invites new managers
Thursday 21 Mar 2024Unlike investment funds, trusts can trade at a discount or premium to the underlying assets which can be to the advantage of potential buyers but a thorn in the side for existing shareholders and trust boards alike. Poor performance is often a key factor driving the share price below NAV (net asset...
Nvidia unveils new ‘superchip’ at its first conference for four years
Thursday 21 Mar 2024At a huge indoor concert venue in Silicon Valley on 18 March Nvidia (NVDA:NASDAQ) founder and chief executive Jensen Huang took the stage to a score composed entirely by AI (artificial intelligence) to introduce his company’s latest creation. Assembled at the developer conference were researchers...
Could litigation headaches lead to a breakup of Reckitt Benckiser?
Thursday 21 Mar 2024It has been a rough few years for shareholders in hygiene, health and nutrition products powerhouse Reckitt Benckiser (RKT) with the stock down 30% on a five-year view. The FTSE 100 company flourished during the pandemic, which heightened hygiene awareness and boosted sales of its Dettol and Lysol...
Easyjet flies high with promotion to the FTSE 100 as miners and energy slip
Thursday 14 Mar 2024For anyone who owns a FTSE 100, FTSE 250 or FTSE All-Share tracker fund or ETF, there are one or two changes next week as a result of the latest quarterly index review. Investors in these securities don’t need to do anything themselves as the underlying indices – compiled by FTSE Russell, part of...
Why convenience food giant Greencore has gained 12.3% year-to-date
Thursday 14 Mar 2024Investors have regained an appetite for sandwich, salad and sushi-maker Greencore (GNC) with the shares up 12.3% to 106.7p year-to-date, extending their one-year rally to 28%. Building on a profit upgrade delivered in October, the Dublin-headquartered soup-to-sauce supplier served up encouraging...
Can Nike get back on the front foot?
Thursday 14 Mar 2024Investors in Nike (NKE:NYSE) have endured an unusually tough period of late with shares in the Oregon-based sportswear giant down 15% over one year amid slowing growth and weaker consumer spending. Fierce competition from fast-growing trainer brands and some self-inflicted wounds have also knocked...
Investors turn sour on Tate & Lyle
Thursday 14 Mar 2024Food ingredients business Tate & Lyle's (TATE) recent third-quarter update (21 February) saw an 11% decline in its Food & Beverage Solutions business as it was hit by a mixture of customer destocking and weaker consumer demand. Foreign exchange headwinds are also having a negative impact,...