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Big News
US treasury yields hit highest level since 2014
Thursday 25 Jan 2018Rising US Treasury yields could reflect waning market faith in the Trump administration amid continuing political ructions in Washington as well as expectations for further rate hikes from the Federal Reserve. Yields rise as bond prices fall. After climbing for a third consecutive week, the yield...
Bookies bashed on £2 betting stake cap reports
Thursday 25 Jan 2018Renewed suggestions the maximum stake on a fixed-odds betting terminal (FOBT) will be cut from £100 to £2 have rocked the gambling industry. The stock market value of the sector tumbled on 22 January following reports that new culture secretary Matt Hancock favours tough curbs on the controversial...
Connect crashes on profit warning
Thursday 25 Jan 2018Logistics company Connect ( CNCT ) released a nasty profit warning on 22 January along with other bad news. The company says its pre-tax profit for its 31 August 2018 year-end will come in short of market expectations. Hopes for a £11.6m windfall from the sale of its books division are also now in...
EMIS stung by after-care foul-up
Thursday 25 Jan 2018Healthcare IT supplier EMIS ( EMIS:AIM ) is facing up to £8m in one-off costs as result of service breaches and reporting failures. The issues relate to its EMIS Web suite sold to GP practices. Management are still assessing the full impact but it appears likely that the company will face financial...
Draper backing for cryptocurrency start-up
Thursday 25 Jan 2018Technology venture capital business Draper Esprit ( GROW:AIM ) is making a bold play on blockchain, the technology behind bitcoin and other cryptocurrencies. The £316m company has invested £18m into a £56m series B funding for Ledger, a Paris-based cryptocurrency and blockchain security company...
Dollar hits three-year low
Thursday 18 Jan 2018The US dollar continues to weaken towards multi-year lows and this is impacting markets across Europe including the UK. When sterling tanked following Brexit, the FTSE 100 made gains due to a majority of its constituents earning their money in other currencies. However, a reversal in the fortunes...
Premier plays down Batchelors sale chatter
Thursday 18 Jan 2018Premier Foods ( PFD ) has poured cold water (15 Jan) on a weekend press report that it in talks to sell its Batchelors brand to largest shareholder Nissin Foods. Premier ‘regularly reviews options to deliver value for all its stakeholders’, adds such reviews ‘do periodically involve discussions...
Melrose launches GKN charm offensive
Thursday 18 Jan 2018Engineering turnaround specialist Melrose Industries ( MRO ) is expected to up its offer price as it tries to pull-off the takeover of planes and cars parts group GKN ( GKN ) . On 12 January GKN’s board rebuffed a 405p per share cash and shares offer from Melrose. That was followed by a 430.1p...
The winners and losers from Carillion’s demise
Thursday 18 Jan 2018Support services company Carillion ( CLLN ) is being put into compulsory liquidation. What does this mean for the many companies Carillion had contracts with and is there an opportunity for rivals to pick up business? Broker Numis says that while the event is clearly bad news for the whole industry...
JD says profit will be better than expected
Thursday 18 Jan 2018Retailer JD Sports Fashion ( JD. ) is in buoyant mood after it upgraded profit guidance for the second time since September 2017. It now expects pre-tax profit for the year to 3 February 2018 to come in at £300m. That’s marginally above the top end of previous market expectations which were in a...