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Second profit warning in a month send Vistry shares to 12-month low
Thursday 14 Nov 2024Housing developer Vistry (VTY) dealt shareholders another body-blow last week when it revealed (8 November) that charges for its understatement of costs on some sites would be higher than originally forecast. On 8 October, after an extensive internal review of its operations, the FTSE 100 firm...
Is Berkshire Hathaway’s record cash pile telling investors to be cautious?
Thursday 07 Nov 2024It is generally thought that owning shares in conglomerate Berkshire Hathaway (BRK-B:NYSE) is equivalent to holding a microcosm of the US economy, given the broad reach of its investments, from insurance to utilities and railroads. That notion is becoming more nuanced following the revelation by...
Markets eye further rate cuts ahead of inflation and consumer price data
Thursday 07 Nov 2024The economic landscape is set to become quieter in the run-up to Thanksgiving in the US and Christmas. At the time of going to press, the odds of the Federal Reserve making a quarter of a percentage point cut to interest rates is nailed on according to the CME’s Fedwatch tool. Likewise, the Bank of...
‘Magnificent Seven’ hand markets the good, the bad and the ugly
Thursday 07 Nov 2024Calendar third quarter earnings from the so-called ‘Magnificent Seven’ revealed a stark divide this year, with the tech giants delivering mixed results that are reshaping stock performance expectations. Of the six ‘Magnificent Seven’ stocks that have reported results already, the market didn’t like...
Market rallies as Trump secures clear victory in US presidential election
Thursday 07 Nov 2024The polls had forecast a knife-edge election but as it turned out Donald Trump won a convincing victory in the US presidential election and has completed a stunning political comeback to return to the White House. The clarity in itself was welcomed by financial markets who had feared a protracted...
Why the investment trust consolidation trend is set to continue
Thursday 07 Nov 2024Consolidation is a growing theme across the investment trust sector against a backdrop of stubbornly-wide NAV (net asset value) discounts and increasing pressure on sub-scale funds. 2024 is already a record year for M&A (mergers and acquisitions) in a sector which has just seen the eleventh...
Bloomsbury shares touch all-time high as sales of fantasy novels soar
Thursday 31 Oct 2024Investors in fantasy and fiction publisher Bloomsbury (BMY) are living in a dream world at the moment as the group continues to book double-digit annual growth in both sales and earnings and raise its outlook, sending its shares to a record high of 758p. For the first half to the end of August,...
Kooth shares plummet after US pilot trial terminated
Thursday 31 Oct 2024Digital mental health provider Kooth (KOO:AIM) saw its shares slump after the company revealed (18 Oct) it had received a 30-day notice from the US state of Pennsylvania to terminate its pilot contract. The contract was first signed on 11 October 2021 and was extended by a year from 30 June 2024 to...
Lloyds Bank shares tumble 10% on motor commissions court ruling
Thursday 31 Oct 2024Just days after celebrating better-than-expected third-quarter net income and earnings, investors in Lloyds (LLOY) received a cold shower as the shares lost 10% of their value in response to a court ruling in a motor finance case. On 25 October, the Court of Appeal ruled in favour of three...
Tesla stock makes largest one-day jump since 2011
Thursday 31 Oct 2024Turning a lacklustre 2024 on its head, Tesla (TSLA:NASDAQ) delivered stronger third-quarter profits than Wall Street expected after the close on 23 October 2024. Elon Musk’s electric vehicle maker reported its first year-on-year bottom line growth of 2024 to the delight of investors, sparking a 22...