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Falling house prices and higher sales cancellations: why property market-related shares are down again
Thursday 10 Nov 2022Shares in housing-related stocks had already been weak this year in anticipation of a property market slowdown, but new data showing an actual decline in UK house prices and a warning from housebuilder Persimmon ( PSN ) about a rise in cancellations and a reset of its dividend policy have caused...
Chinese stocks surge on prospect of end to strict Covid measures
Thursday 10 Nov 2022Shares in Chinese and China-related stocks, including specialist UK-listed investment trusts, have risen for several days on market talk Beijing could end its zero-tolerance strategy on the Covid virus in early 2023. The official line is the government has no intention of changing course as ‘...
Hasbro hurt as toy demand drops following price hikes
Thursday 10 Nov 2022The definition of a company with pricing power is one that can put up prices without causing a drop in customer demand. Toy maker Hasbro (HAS:NASDAQ) doesn’t make the cut as its price hikes have weakened demand, leading it to miss its latest quarterly earnings estimates. Consumers are looking for...
Investors turn wary eye to Marks & Spencer and Primark-owner
Thursday 03 Nov 2022Clothing retail will fall under the investor spotlight next week when Marks & Spencer ( MKS ) and Associated British Foods ( ABF ) report results, and bright spots are expected to be few and far between. Shares in Marks & Spencer dropped sharply last month after it warned of cost pressures...
US inflation remains sticky, but some there are signs it could be peaking
Thursday 03 Nov 2022Inflation data coming in hotter than expected has become a regular feature over the last few months and the latest US PCE (personal consumer expenditure) data continued the trend. PCE is the Federal Reserve’s preferred inflation gauge and the index advanced by 5.1% year-on-year in September,...
Halfords investors rejoice as the retailer’s share price finally starts to recover
Thursday 03 Nov 2022After being stuck in reverse for a large part of 2022, shares in car parts-to-bicycle seller Halfords ( HFD ) have finally got into top gear. The stock has moved 35% higher over the past month as the market appears to have reappraised the outlook for the retailer. The company had been sitting on...
Why shares in On The Beach remain down in the dumps
Thursday 03 Nov 2022The market remains unenthused about holiday seller On The Beach ( OTB ) , with its share price stuck in the mud. At 102.43p, the shares are down 65% year-to-date and 83% lower than the pre-pandemic high of 615p in April 2018. A trading update on 25 October said full-year pre-tax profit was in line...
RELX and CentralNic stand out in latest batch of earnings upgrades and downgrades
Thursday 03 Nov 2022There’s a diverse set of companies in the latest list of notable earnings upgrades and downgrades as analysts react to a mixed set of third quarter updates. Small cap internet services outfit CentralNic ( CNIC:AIM ) saw a string of upgrades following an encouraging trading statement on 18 October...
Lula stages remarkable political comeback to lead Brazil for a third term
Thursday 03 Nov 2022After a fierce campaign with far-right incumbent Jair Bolsonaro, former president Luiz Ignacio Lula de Silva won the second round of elections on Sunday to become Brazil’s leader for a third term. However, the narrowness of Lula’s win – by 50.9% against Bolsonaro’s 49.1% after a three-hour count –...
Markets steady as Sunak becomes PM, but is this the calm before the storm?
Thursday 27 Oct 2022UK financial markets gave their verdict on the victory of Rishi Sunak as the next prime minister with 10-year gilt yields dropping 22 basis points and the pound moving higher. Despite the relative calm unfolding after an extraordinary period of political chaos the UK’s cost of borrowing remains...