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‘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...
Trainline issues second profit upgrade in two months
Thursday 31 Oct 2024Trainline (TRN) 374p Gain to date: 15.1% Market cap: £1.5 billion It is barely two months since the rail ticketing app Trainline (TRN) said it was raising its full-year 2025 guidance and it has now repeated the trick. We flagged the stock’s appeal in early February because of the continuing...
Budget 2024: AIM rallies as infrastructure and hospitality firms toast measures
Thursday 31 Oct 2024The market gave a largely positive response to Labour’s first Budget with the domestic-facing FTSE 250 index and AIM market both enjoying strong gains following the unveiling of chancellor Rachel Reeves’ plans. While the inheritance tax exemption on AIM shares was halved it wasn’t abolished as had...
Baltic Classifieds is emulating Auto Trader and Rightmove in Eastern Europe
Thursday 24 Oct 2024Eastern European online automotive, jobs and property advertising portal, Baltic Classifieds (BCG) , is enjoying a strong run. Up 36% year-to-date, the shares have trebled from March 2022 lows and at 329p have nearly doubled from the 165p IPO price. The FTSE 250 company has 14 online classified...