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Get the lowdown on Wickes after its demerger
Thursday 29 Apr 2021Shares in DIY retailer Wickes ( WIX ) have begun trading (28 Apr) as a stand-alone business on the London Stock Exchange ( LSE ) following its Covid-delayed demerger from Travis Perkins ( TPK ) , a deal which saw the erstwhile parent’s shareholders receive one Wickes share for each Travis Perkins...
Copper predicted to reach $15,000 as metal hits 10-year high
Thursday 29 Apr 2021Copper has been predicted to hit $15,000 per tonne by analysts at Goldman Sachs, up from its current level of around $9,700, as demand soars and supply fails to catch up, with the metal reaching a 10-year high on 26 April. In a report titled ‘Copper is the new oil’, the Goldman analysts say there...
Global chip shortage threatens industrial growth forecasts
Thursday 29 Apr 2021An unusual and unexpected side effect of the pandemic has been the strain on the global supply chain in manufacturing as products and parts made in far-clung parts of the world have been delayed reaching customers. Added to this, a shortage of containers has sent freight rates sky high so not only...
Biden regulation and tax changes could derail certain investments
Thursday 22 Apr 2021The latest signs that the Biden administration is getting tough on corporate regulation and tax have put the tobacco sector under pressure. Shares in British American Tobacco ( BATS ) and Imperial Brands ( IMB ) fell between 5% and 6% on 20 April, mirroring similar moves for their US-listed...
Pressure builds on GlaxoSmithKline as activist enters the fray
Thursday 22 Apr 2021Shares in GlaxoSmithKline ( GSK ) are on an upward path after the Financial Times reported that activist US investor Elliott Investment Management had taken a ‘significant’ multi-billion-pound stake. The $42 billion fund, known for active campaigns at miner BHP ( BHP ) and Premier Inn owner...
London-listed banks should report strong first quarter but challenges remain
Thursday 22 Apr 2021With the major UK banks due to report their first quarter results in the next couple of weeks, we believe the rally in the sector which began last autumn has staying power based on valuation grounds. However, this is only a sector to trade short-term and we would be wary of brokers pushing an...
Get the inside track on new float MusicMagpie
Thursday 22 Apr 2021Smartphones-to-computers recycler and reseller MusicMagpie ( MMAG:AIM ) is set to swoop onto AIM (22 April) today through a flotation valuing the ‘re-commerce’ business at £208 million. That market valuation equates to roughly 1.4 times historic sales and 15 times historic earnings. Trading as...
Big shareholder wants fee-spat hedge funds to merge
Thursday 15 Apr 2021Two listed hedge funds that significantly beat the broader UK stock market in 2020 could merge. BH Macro ( BHMG ) and BH Global ( BHGG ) are under pressure from Investec, which is a shareholder in both vehicles, to combine into a single entity. The proposal is on the grounds that the two hedge...
Shunned fund manager Mark Barnett tries again
Thursday 15 Apr 2021Neil Woodford’s former right-hand man, Mark Barnett is back with a new job less than a year after he left Invesco following several years of poor performance from the two high profile income funds he ran. Barnett is joining Tellworth Investments, founded by ex-Schroders fund managers Paul Marriage...
Novacyt shock means investors should get out now
Thursday 15 Apr 2021A profit warning on 9 April from specialist clinical diagnostics firm Novacyt ( NCYT:AIM ) is a major turning point for how we view the stock. The investment case has materially changed which means investors should sell, even at a loss. The investment case case was largely based on Novacyt becoming...