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Big News

Tracker fund criticised for misleading ESG credentials

Thursday 18 Jul 2019

Last week the Financial Times reported that the $500m Vanguard ESG US Stock exchange-traded fund (ETF) had invested in oil services company Schlumberger, pipeline company Kinder Morgan and oil refiner Marathon Petroleum, despite its ‘green’ label. According to the company’s website, the fund seeks...

Burberry, Sports Direct, Ryanair and other big news

Thursday 18 Jul 2019

It’s been a good week for British luxury brand Burberry ( BRBY ) , which added more than £1bn to its market value after better than expected first quarter results. Its shares rose 12.7% to £22.44 following a 4% rise in comparable store revenues. The iconic brand has man of the moment Riccardo Tisci...

BT could slash its dividend by 30%

Thursday 18 Jul 2019

UK telecoms giant BT ( BT.A ) appears to be softening up investors to a future cut to its £1.5bn a year dividend as it balances rising fibre roll-out investment. BT’s management estimate that it will cost an extra £400m to £600m a year to accelerate the roll-out of its fibre-to-the-premises network...

Insurers dealt new blow after less favourable change to compensation rate

Thursday 18 Jul 2019

UK car and home insurers are crying foul after the Lord Chancellor raised the discount rate on personal injury lump-sum compensation but left it short of the level the industry had hoped for. Shares in Admiral ( ADM ) , Direct Line ( DLG ) and Hastings ( HSTG ) all sold off on the news. The Lord...

Hurricane Energy blows the market away

Thursday 18 Jul 2019

UK oil producer Hurricane Energy ( HUR:AIM ) is building on the significant milestone in June of first oil from its Lancaster field. An investor day on 11 July revealed the company’s early production system at Lancaster is performing better than expected with upgrades to production guidance. While...

FTSE 100 miners on the charge as iron ore hits five-year high

Thursday 11 Jul 2019

The price of iron ore recently hit a five-year high and some have tipped it to stay higher for longer, spelling good news for the likes of BHP ( BHP ) , Rio Tinto ( RIO ) and Anglo American ( AAL ) . Many believe the boom time for iron ore miners won’t last but there are reasons to believe the...

Bovis, Persimmon, Imperial Brands and other big news

Thursday 11 Jul 2019

There was a contrasting tone in the latest updates from housebuilders Persimmon ( PSN ) and Bovis Homes ( BVS ) . On 4 July Persimmon announced a 4% decline in first half revenue as the company slowed its sales ambitions under new CEO Dave Jenkinson in order to get its house in order. This should...

Deadline looms to take part in Whitbread’s £2bn tender offer

Thursday 11 Jul 2019

Shareholders in Premier Inn owner Whitbread ( WTB ) only have days to decide if they want to sell some of their shares back to the company as part of a £2bn tender offer. The tender offer is a way of returning some of the proceeds from Whitbread’s £3.9bn sale of Costa Coffee to Coca-Cola earlier...

Hopes of US rate cuts recede on jobs spike

Thursday 11 Jul 2019

Markets have been thrown into confusion after the US non-farm payrolls showed a much larger increase in hiring than analysts had expected, raising fears that the US Federal Reserve might not cut interest rates at its meeting on 31 July. Such is the ‘looking-glass world’ that markets are...

Funding Circle, Woodford and more of the week's big news

Thursday 04 Jul 2019

Crowd funding business Funding Circle ( FCH ) spooked investors after halving revenue growth guidance on 2 July. Its shares tanked 20% to 132p as it warned that demand for small business loans had weakened. Because we still don’t know whether the Government will strike a deal with the EU, it is...

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