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magazine archive
Big News
CityFibre strikes ultra-fast fibre deal with Vodafone
Thursday 16 Nov 2017City-focused fibre broadband operator CityFibre Infrastructure ( CITY:AIM ) is on a growth path as it seals a landmark agreement to bring ultra-fast broadband to up to 5m UK homes by 2025. The £500m-plus 20-year contract with mobile network giant Vodafone ( VOD ) will bring full fibre-to-the-home (...
Insurer opens doors to retail investors with £600m IPO
Thursday 16 Nov 2017Retail investors are being given the opportunity to take part in the IPO (initial public offering) offer for Sabre Insurance , owner of the Go Girl brand and underwriter for policies sold by the likes of Tesco Bank and others. We understand the specialist motor insurer will pay a 6%+ dividend yield...
Brighter prospects for drugs giant AstraZeneca
Thursday 16 Nov 2017Drug developer AstraZeneca ( AZN ) is at an inflection point, says well-known fund manager Neil Woodford. He believes growth is now beginning to emerge. This comment followed news last week from AstraZeneca which guided for full year earnings to be towards the ‘favourable end of a low to mid-teens...
Scottish Mortgage pleads for patience
Thursday 09 Nov 2017One of the UK’s largest investment trusts, Scottish Mortgage ( SMT ) , has sounded a downbeat tone about market conditions and questioning the future upside from the tech giants which have fired its performance so far in 2017. The £6.4bn Baillie Gifford fund, run by James Anderson and Tom Slater,...
The fall-out from first rate rise in a decade
Thursday 09 Nov 2017The market is taking the first interest rate hike in more than 10 years in its stride. At its 2 November meeting, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase rates from 0.25% to 0.5%. Failure to act would have implied governor Mark Carney and his...
Merry Christmas for Morrisons
Thursday 09 Nov 2017A downwards drift at WM Morrison Supermarket ( MRW ) presents a buying opportunity before the grocer unwraps its Christmas trading update (9 Jan 2018). Chief executive David Potts’ charge has reported an eighth consecutive quarter of like-for-like sales growth, up 2.5% (ex-fuel) in the third...
Why Indivior’s opioid addiction treatment is likely to be approved this month
Thursday 09 Nov 2017Pharmaceutical firm Indivior ( INDV ) is optimistic its drug to help fight opioid addiction will be approved by the US Food and Drug Administration (FDA) on 30 November. On 31 October the majority of the FDA’s Advisory Committee supported the approval of the RBP-6000 drug, which bodes well for...
Loss of confidence in UK IPO market
Thursday 09 Nov 2017Food provider Bakkavor has pulled its planned Main Market IPO. It cited ‘current volatility’ in the new issues market which overrode ‘sufficient institutional demand’ to cover the offering from the supplier of pizzas and desserts to Tesco ( TSCO ) , Marks & Spencer ( MKS ) and Waitrose...
Sweet and sour from ABF
Thursday 09 Nov 2017Foods-to-fashion conglomerate Associated British Foods’ ( ABF ) saw its shares fall 3.7% to £32.20 despite the delivery of better-than-expected full year results on 7 November, with adjusted pre-tax profit ticking 22% higher to £1.31bn. Investors were underwhelmed as ABF confirmed it will reduce...
UK challenger bank in £1.1bn takeover
Thursday 09 Nov 2017Financial services group Aldermore ( ALD ) has agreed the terms of a £1.1bn takeover offer by South Africa’s FirstRand. The deal values the bank at 313p per share and is priced at a 22% premium to the price on the day before takeover talks were revealed on 12 October. Since the confirmation on 6...