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Wage inflation could hurt many shares
Thursday 20 Jan 2022Index heavyweight bank JP Morgan kicked off the US quarterly reporting season on 14 January and managed to beat analysts’ estimates for revenue and profit, but the shares fell 5% on the day. Part of the reason was that going into the results, bank shares had already clocked-up big gains amidst a...
Billions wiped off the value of construction stocks
Thursday 20 Jan 2022Shares in Britain’s biggest housebuilding firms lost billions in value in the week to 14 January after the Government announced it would ask them to meet the cost of rectifying safety issues on high-rise buildings in the wake of the Grenfell tragedy. The cost of the work could be up to £4 billion,...
Holidays surge sparks rampant rally for travel sector stocks
Thursday 13 Jan 2022After nearly two years of heavy losses, the travel sector is showing serious signs of bouncing back, despite the ongoing drag of the Omicron variant. Increased vaccination rates, pent-up demand and accumulated savings are helping to spur demand for global tourism nations roll back border...
The impact of Kazakhstan unrest on shares and commodities
Thursday 13 Jan 2022The dust may be settling for now on the recent unrest in Kazakhstan, but the ructions are still being felt in the markets. Prices of oil and uranium, of which Kazakhstan is a major producer, moved higher amid the disruption. The country is a key centre for bitcoin mining and concerns over the...
Housebuilders hit by surprise escalation in cladding costs
Thursday 13 Jan 2022Shareholders in the big six major UK housebuilders received a rude awakening on Monday after the sector lost more than £1.5 billion in value after the government unexpectedly said it could force them to fix cladding issues on high-rise buildings at an estimated cost of up to £4 billion. The hardest...
Fed minutes unsettle bond and equity markets
Thursday 13 Jan 2022US bond markets have had a torrid start to 2022 with 10-year treasury yields moving up to 1.8%, from 1.5% at the end of the December, the highest since April 2021. The dramatic move in rates has had violent repercussions in the stock market with a clear investor preference for economically...
Tech fund manager warns of worrying signs
Thursday 23 Dec 2021A leading UK-based technology fund manager has warned of signs of ‘exuberance’ emerging in parts of the investment market. Ben Rogoff, who runs the Polar Capital Global Technology Fund (B42W4J8) and Polar Capital Technology Trust ( PCT ) , flagged the wave of new stock market listings and blank...
Markets undergo a dramatic week leaving investors dizzy
Thursday 23 Dec 2021Markets suffered a rare back-to-back fall on Friday and Monday (17/20 December) on a combination of rapidly increasing Covid cases, an unexpected UK interest rate rise and an unwelcome blow to the US growth outlook. The spread of the Omicron variant continued to accelerate causing several countries...
UK car insurance sector to benefit from move to Plan B
Thursday 23 Dec 2021UK car insurance stocks Direct Line ( DLG ) and Sabre Insurance ( SBRE ) could be among the companies enjoying a temporary benefit from the Government’s latest Plan B to help fight Covid-19, which includes the requirement to work from home if possible. A reduction in cars on the road should in...
Nike’s results smash forecasts amid North American strength
Thursday 23 Dec 2021Second quarter results published on 20 December from Nike beat expectations as the world’s largest sportswear company benefited from robust demand in its biggest market, North America, and what finance chief Matthew Friend described as an ‘incredible’ Black Friday week. Revenue and earnings topped...