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Wizz Air directors sell out as shares hit all-time high
Thursday 11 Mar 2021The global pandemic may have slammed the aviation sector, with the emergence of new Covid variants providing a potential threat to the vaccine rollout and reopening of travel, but that hasn’t stopped shares in budget airline Wizz Air ( WIZZ ) hitting an all-time high. The FTSE 250 carrier has...
Cellular Goods flotation marks new era for London market
Thursday 04 Mar 2021Amidst a media frenzy, Cellular Goods ( CBX ) – the David Beckham-backed provider of consumer products based on synthetic cannabidoil – has listed in London (26 Feb), turning its founders into multi-millionaires and at one stage generating a more than four-fold gain for those private investors able...
Budget 2021: the key takeaways for investors and the markets
Thursday 04 Mar 2021Housebuilders and hospitality firms were among the big winners from chancellor Rishi Sunak’s 2021 budget (3 Mar). Most of the major announcements had been revealed in advance and stocks in the housebuilding and travel and leisure sectors rose ahead of the budget and consolidated those gains as...
Trustpilot planning £1 billion London IPO
Thursday 04 Mar 2021Online business reviews platform Trustpilot has announced its intention to float on London’s Main Market and hopes to raise $50 million to fund growth and pay down debt. Market speculation suggests that an initial public offering of a 25% stake could give the business a near £1 billion valuation...
Latest ESG concerns weigh on Boohoo
Thursday 04 Mar 2021Shares in fast-fashion online retailer Boohoo ( BOO:AIM ) fell as much as 9% to 312p on 2 March after media reports suggested the firm and its suppliers could face an import ban in the US due to widespread allegations of forced labour in its garment factories. A petition by Liberty Shared, a group...
What rising bond yields mean for markets
Thursday 04 Mar 2021Rising interest rates and falling bond prices continue to rattle equity markets. Bond commentary even made it into Warren Buffett’s annual shareholder letter (27 Feb), with the ‘Sage of Omaha’ saying that bonds face a ‘bleak future’. From September 1981 the US 10-year bond yield had fallen 94% from...
Reopening trade sparks travel, leisure rally
Thursday 25 Feb 2021Holidays, travel and leisure stocks roared higher following the Government’s outline of how Britain will escape the pandemic restrictions. Companies including airports outlets operator SSP ( SSP ) , Rank ( RNK ) and WH Smith ( SMWH ) posted double-digit gains s investors rallied behind sectors most...
Rising bond yields start to weigh on popular stocks
Thursday 25 Feb 2021US technology stocks sold off on 22 February following a period of mounting concern about inflation, reflected in rising yields on government debt, and the implications for interest rates. This had a knock-on impact for UK-related tech stocks and funds including a big decline in Scottish Mortgage...
Stop shutting retail investors out of IPOs
Thursday 25 Feb 2021For too long, initial public offerings (IPOs) have been largely the preserve of institutional investors, leaving retail investors out in the cold. Besides IPOs, retail investors are also disadvantaged when it comes to taking part in secondary fundraisings. In summary ‘retail shareholder rights are...
Banks signal return to dividends but outlook remains cloudy
Thursday 25 Feb 2021The UK’s four major high-street lenders posted results for the year to December which beat forecasts one way or another, and all flagged a return to dividends in line with regulatory guidance, but there was little to cheer regarding the longer term. After barring the banks from paying dividends...