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Big News
Pure Gold floats in London ahead of Canada mine revival
Thursday 23 May 2019Fans of gold mining stocks should note that Pure Gold ( PUR ) has listed on London’s Main Market (21 May). The £78m company plans to reopen the Madsen Red Lake gold mine in Ontario next year. Its shareholders include large mining company AngloGold Ashanti. Pure Gold has turned to the UK for...
News review: Thomas Cook, Metro Bank and more
Thursday 23 May 2019Travel operator Thomas Cook ( TCG ) was battling all-time lows at the time of writing to trade a little above 12p. These lows were marked in response to a truly horrible set of figures for the six months to 31 March published on 16 May and showing a £1.45bn loss, with debt climbing over the £1bn...
What would Labour's plan mean for utility funds?
Thursday 23 May 2019Sterling continues to slide amid ongoing uncertainty over Brexit. It now looks like Theresa May will have one last shot at getting her Brexit deal across the line in early June before exiting stage left. In the background the Brexit Party is leading in the polls for the looming European elections...
Vodafone cuts its dividend back to 2009 levels
Thursday 16 May 2019FTSE 100 telecoms group Vodafone ( VOD ) has pulled a massive U-turn and slashed its dividend by more than 40%, despite having committed six months earlier to maintaining the payment at the same level as the previous financial year. The shares are now trading on a prospective yield of 6.1% versus...
Stock markets tumble as the trade war reheats
Thursday 16 May 2019The nascent recovery in global stocks in 2019 has suffered a significant setback. The culprit is renewed escalation in trade tensions between China and the US – an issue the markets were previously hoping would soon be resolved. Those hopes have been dashed by an increasingly belligerent tone from...
Customer and investor panic wipes £2.8bn off Metro Bank’s value
Thursday 16 May 2019Shares in Metro Bank ( MTRO ) made fresh all-time lows this week, hitting 462.75p after photos appeared of large numbers of customers queuing to withdraw their money amid social media chatter questioning the bank’s financial health. The bank told customers their money was safe and insisted a...
Why are Centrica shares trading at more than 20 year lows?
Thursday 16 May 2019At 95.8p energy firm Centrica ( CNA ) is trading at its lowest levels since 1998 when then-chancellor Gordon Brown introduced a windfall tax on privatised utilities. It has been a bumpy ride for Centrica over the entirety of the intervening period thanks to several operational challenges. This...
Three stocks that match Warren Buffett’s criteria as he eyes a UK acquisition
Thursday 09 May 2019Arguably the world’s most famous living investor, Warren Buffett has once again signaled that his investment vehicle Berkshire Hathaway could make a sizeable acquisition in the UK. Having revealed his willingness to strike such a deal in a recent Financial Times interview, Buffett repeated this...
Investors continue to desert UK and European equity funds
Thursday 09 May 2019Investors continue to shun UK and European equity funds in favour of global exposure as economic and Brexit uncertainties continue to hold sway. More than £2.4bn has been pulled out of the funds space during the first three months of the year according to data from the Investment Association, the...
Lloyds, HSBC, Domino’s and other recent news
Thursday 09 May 2019Numbers from Lloyds Banking ( LLOY ) and troubled challenger Metro Bank ( MTRO ) on 2 May did little to lift the mood after a difficult first quarter reporting season for the banks. Lloyds reported flat first-quarter profits that fell short of market expectations amid exceptional costs including...