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Big News
What Boris Johnson in Number 10 means for the markets
Thursday 25 Jul 2019While sterling see-sawed around the announcement of Boris Johnson as Conservative Party leader (23 Jul) and, in turn, UK prime minister, the FTSE 100 traded higher as exporters were boosted by weakness in the pound. Johnson’s election by party members was largely priced in and essentially he faces...
ASOS, Fevertree, PZ Cussons and the week’s other big news
Thursday 25 Jul 2019Two of AIM’s most prominent success stories of recent years have served disappointing news for investors. On 18 July online fashion retailer ASOS ( ASC:AIM ) set in motion another decline in its share price towards the £20 mark as it warned on profit for the second time in the space of a year...
Oil giants BP and Shell unlikely to benefit despite Iran tensions
Thursday 25 Jul 2019When a country threatens to block off access to a passage in the sea through which one fifth of the world’s oil passes that usually means oil prices skyrocketing. But as tensions between Iran and the UK and US escalate, the commodity’s price – and that of shares in oil and gas firms such as Royal...
Ted Baker shares jump on takeover chatter
Thursday 25 Jul 2019Out-of-fashion British clothing and accessories brand Ted Baker ( TED ) rallied to 951.5p at the start of the week following reports founder and former chief executive Ray Kelvin is considering a private equity-backed buyout to take the challenged retailer private. The mysterious Kelvin resigned as...
Tracker fund criticised for misleading ESG credentials
Thursday 18 Jul 2019Last 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 2019It’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 2019UK 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 2019UK 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 2019UK 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 2019The 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...