magazine archive
magazine archive
Big News
Bovis, Persimmon, Imperial Brands and other big news
Thursday 11 Jul 2019There 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 2019Shareholders 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 2019Markets 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...
Making sense of the EU-Swiss share trading spat
Thursday 04 Jul 2019Investment firms in the EU are no longer allowed to deal shares listed on the Swiss stock exchange directly in Switzerland, prompting Switzerland to ban the trading of shares in Swiss-headquartered firms on EU markets. The European Commission has decided not to renew an agreement known as ‘...
Major shareholder wants to build larger stake in Aston Martin
Thursday 04 Jul 2019Italian private equity house Investindustrial is on the verge of taking the unusual step of rebuilding its stake in prestige sports car maker Aston Martin Lagonda ( AML ) . The specialist buyout firm has launched a bid to buy a 3% stake owned by Kuwaiti-based investors listed as Primewagon, Adeem...
Funding Circle, Woodford and more of the week's big news
Thursday 04 Jul 2019Crowd 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...
Boohoo is now the largest London-listed online-only fashion retailer
Thursday 04 Jul 2019Pure-play online fashion retailer Boohoo ( BOO:AIM ) is now worth more than former AIM market superstar ASOS ( ASC:AIM ) , demonstration the duo’s contrasting fortunes. Boohoo is profiting from its multi-brand approach, youth appeal and social media marketing, while ASOS has de-rated on concerns...
FirstGroup sees off boardroom coup attempt
Thursday 27 Jun 2019Billed as an existential dust-up between transport operator FirstGroup ( FGP ) and its biggest shareholder Coast Capital, it is the former who has won after seeing off an attempt by the activist investor to remove six of its directors. The Wall Street hedge fund couldn’t get the backing from 50% of...
Funds industry looks for solution to liquidity dilemma
Thursday 27 Jun 2019The Investment Association is planning to launch a new fund structure which could be a solution to the liquidity issues which hit property funds in the wake of the Brexit vote and more recently the suspended Woodford Equity Income Fund (BLRZQ73) . The full blueprint for a so-called ‘Long-Term Asset...
Can Glencore shake off ESG backlash?
Thursday 27 Jun 2019Under pressure on numerous fronts, not least on environmental grounds thanks to heavy exposure to coal assets, commodities firm Glencore ( GLEN ) is only just recovering from 12-month lows at 280p. In February Glencore announced it would cap coal production but in a sign of the increasing relevance...