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Nasdaq 100 benchmark is shuffling its weightings after AI tech stock surge
Thursday 20 Jul 2023One of the world’s most popular indices faces a shake-up that could impact millions of UK investors. The Nasdaq 100 has romped more than 44% higher this year – including its best first half ever, beating even the dotcom bubble of the late 1990s. The seemingly unstoppable rally is largely thanks to...
Why gamblers 888 and DraftKings have seen diverging share prices
Thursday 20 Jul 2023The respective share prices of online gambling company 888 ( 888 ) and US fantasy sports betting firm DraftKings (DKNG:NASDAQ) look like a mirror image of one another with 888 shares down 45% and DraftKings up 172% over the last year. 888 shares fell 25% on 14 July after revealing strategic talks...
Gresham House takeover highlights undervaluation of UK asset managers
Thursday 20 Jul 2023Another week, another takeover – this time it is alternative asset manager Gresham House ( GHE:AIM ) , which is being bought by private equity firm Searchlight for £470 million. At £11.05 per share, 63% above the previous closing price and 10% above the all-time high a year ago, the purchase price...
Why American Airlines shares have soared year-to-date
Thursday 20 Jul 2023Shares in American Airlines (AAL:NASDAQ) have performed well year-to-date, rising 42% to $18.14 as investors welcome the recovery in demand for the travel sector. Holidaymakers are booking their summer and winter getaways despite the cost-of-living crisis and escalating costs for flights and...
Vanquis Banking shares have lost almost 20% in six weeks and could face FTSE 250 relegation
Thursday 20 Jul 2023Rising interest rates are normally good for banks so investors may be puzzled why FTSE 250 lender Vanquis Banking ( VANQ ) has plunged nearly 20% in six weeks to 183.6p, putting the company firmly in relegation territory from the mid-cap index. The business, previously called Provident Financial,...
Meta Platform’s Threads becomes fastest app ever to hit 100 million sign-ups
Thursday 13 Jul 2023The rival to Twitter launched by Meta Platforms’ (META:NASDAQ) – Threads – has become the fastest app ever to blast through the 100 million users mark. Having launched on 7 July, the new microblogging platform made the breakthrough in less than a week. By contrast, OpenAI’s ChatGPT, previously the...
Despite rising rates shares are holding up; will US earnings season change that?
Thursday 13 Jul 2023As markets move into the summer period the US economy appears as resilient as ever which puts greater focus on the upcoming earnings season which kicks-off on 13 July. The June non-farm payrolls report (7 July) came in weaker than expected for the first time in more than a year with 209,000 jobs...
OSB shares slump as mortgage-holders switch deals early
Thursday 13 Jul 2023Anyone following UK financial stocks must have wondered what on earth was so awful about the latest trading update from OSB ( OSB ) that the shares lost almost a third of their value in a single day last week. The answer is a sudden but we suspect long-overdue admission that higher interest rates...
Why electricals leader Currys has lost its spark
Thursday 13 Jul 2023Technology products retailer Currys ( CURY ) has seen its share price crumble 14.9% year-to-date to 48.4p, a 10-year low, in the wake of poorly-received full-year results (6 July). Not only did the white goods-to-electronics seller report a drop in sales and profits for the year ended 29 April 2023...
Why Moonpig shares have flown 42% higher this year
Thursday 13 Jul 2023Shares in Moonpig ( MOON ) have rallied 44% to 163.6p year-to-date with the online greetings cards-to-gifting platform delivering solid trading and avoiding the downgrades sceptical investors expected. Shareholder excitement will be tempered by the fact the shares are trading more than 50% below...