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What new prime minister Liz Truss means for markets and energy prices
Thursday 08 Sep 2022After weeks of a divisive Conservative party election contest, Liz Truss defeated Rishi Sunak by 81,326 votes to 60,399 votes to become Britain’s new prime minister. Truss was widely anticipated to win the contest, and both stock and currency markets were unmoved by the result. In a clear sign that...
ASOS shares slump as a briefing bombshell spooks the market
Thursday 08 Sep 2022Online fashion retailer ASOS’ ( ASC ) problems continue to pile up with the shares sliding on a damaging Sunday Times piece which left the equity down 73% year-to-date at a threadbare-looking 646.5p. The article relayed that the troubled retailer has privately briefed City analysts that pre-tax...
Why China-focused Welkin offers investors something new as it plots $300 million float
Thursday 08 Sep 2022China-focused Welkin China Private Equity plans to launch an initial public offering ( IPO ) on the London Stock Exchange’s ( LSEG ) main market and is targeting a fundraise of up to $300 million. It will be the first London-listed investment company focused on Chinese private equity and will...
Vistry fires starting gun on housebuilder M&A with £1.2 billion bid for Countryside
Thursday 08 Sep 2022With the deal to buy Countryside Partnerships ( CSP ) , Kent-based housebuilder Vistry ( VTY ) sent a clear signal to the market that not only was it confident in its own prospects but the opportunity to consolidate within the industry was too good to miss. The £1.25 billion price tag for...
Stocks sink as Fed chair Powell looks to avoid mistakes of the past
Thursday 01 Sep 2022American writer Mark Twain famously remarked ‘history doesn’t repeat itself but it often rhymes’. Federal Reserve (Fed) chair Jerome Powell’s Jackson Hole speech to central bankers (25 August) has shown him to be a shrewd student of American economic history. The hawkish nature of Powell’s remarks...
Weak markets leave UK tech exposed to bids
Thursday 01 Sep 2022The UK-listed technology space faces being left threadbare as low valuations leave leading ‘made in Britain’ companies at the mercy of opportunistic overseas buyouts. Enterprise software company Micro Focus ( MCRO ) last week (26 Aug) agreed to be taken over by Canada’s Open Text (OTEX:NASDAQ) in a...
Domino’s Pizza will struggle to deliver tasty earnings as inflation bites
Thursday 01 Sep 2022Shares in short-sellers’ target Domino’s Pizza ( DOM ) are down the best part of 50% year-to-date and there could be more pain to come judging by the experience of the takeaway firm’s counterpart in Australia. Investment bank Jefferies highlighted a negative read-across to Domino’s UK following...
China’s behind-the-scenes easing has been good for investors
Thursday 01 Sep 2022While UK investors have been fretting over the hike in household energy prices on one hand and commentary coming out of the Jackson Hole meeting of central bank governors on the other, the authorities in China have been quietly helping support global shares by easing monetary and fiscal policy...
Zoom Communications is struggling to keep pandemic growth going
Thursday 25 Aug 2022Z oom Communications (ZM:NASDAQ) is struggling to grow fast in the post-pandemic world after its latest earnings release once again disappointed investors. The San Jose company reported second quarter to 31 July 2022 adjusted earnings per share of $1.05, beating the $0.94 expected by analysts, but...
Cineworld shares now only worth pennies as it faces bankruptcy
Thursday 25 Aug 2022Shareholders in cinema operator Cineworld ( CINE ) face an uncertain future as the company confirms it may enter Chapter 11 bankruptcy in the US. The best outcome if it goes down this route is, in its own words, ‘very significant dilution’ for existing investors as the company faces a testing...