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Cineworld faces liquidity crunch as cinemas close again
Thursday 08 Oct 2020Cinema group Cineworld ( CINE ) may need an extra $300 million liquidity to get it through the current crisis, having announced plans to close its UK and US cinemas again on a temporary basis. Investment bank Jefferies says as at 31 August, Cineworld had c$260 million in liquidity (c$150 million...
Housebuilders rally on Boris Johnson’s bid to help first-time buyers
Thursday 08 Oct 2020Shares in UK housebuilders rallied on 5 October following reports that the Government wants first-time buyers to be able to take out long-term fixed-rate mortgages with just a 5% deposit under a scheme referred to as ‘Generation buy’. This could potentially act as another tailwind for the property...
Stakebuilders swoop on troubled firms including Sainsbury’s and HSBC
Thursday 01 Oct 2020Various well-known stock market names with distressed share prices have attracted interest from third parties, potentially as a precursor to pushing for a change in strategy or making a takeover approach. Stakebuilding is a popular tactic used by large shareholders before making an offer for the...
Greggs shares at two-year low as sales boost fails to convince
Thursday 01 Oct 2020An improvement in trading during September wasn’t enough to convince the market that Greggs ( GRG ) can recover quickly from the pressures of Covid-19. Its shares fell 3% on 29 September, leaving them languishing at a two-year low. The retailer is adding back items to its menu after only selling a...
Rising costs could cause problems for Boohoo
Thursday 01 Oct 2020Extra costs in multiple areas of the business present a headwind for fast-fashion retailer Boohoo ( BOO:AIM ) . First-half results on 30 September failed to excite the market as better than expected sales growth was overshadowed by guidance for lots of extra spending. Customers returning fewer...
A bidding war looks unlikely for William Hill
Thursday 01 Oct 2020Investors went full tilt on 25 September when they pushed William Hill’s ( WMH ) shares up 44% to 312p after the company confirmed it had received separate takeover interest from private equity group Apollo and gambling business Caesars Entertainment. The enthusiasm proved short-lived and on 28...
Novacyt starts to live up to the hype as contracts roll in
Thursday 01 Oct 2020Whenever a business announces anything linked to a treatment, vaccine or test for Covid-19 their shares go ballistic, and there appears to be substance behind global diagnostics play Novacyt’s ( NCYT:AIM ) progress in this area. The company enjoyed strong gains on 29 September with the shares...
Mining winners and losers from Tesla’s Battery Day
Thursday 24 Sep 2020The mining industry watched with interest on 22 September as electric vehicle maker Tesla revealed a host of innovations at its highly anticipated ‘Battery Day’, giving clues to where future commodities demand could be. One of the biggest takeaways from the event was Tesla’s announcement that it...
Increased investor anxiety is leading to some big share price moves
Thursday 24 Sep 2020Increasing investor anxiety is leading to bigger share individual price moves on a daily and weekly basis and the last week was no exception with a number of large fallers. Engineering group Rolls-Royce ( RR. ) was forced to release a statement after increasing speculation that the company was...
Sell off fears grow after new restrictions
Thursday 24 Sep 2020Equity markets have taken a big fall as concerns grow we could see a repeat of the volatility seen in March amid rising coronavirus infections. The market moves come as prime minister Boris Johnson announced new curbs in a bid to halt the spread of Covid-19, but stopped short of ordering a new...