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Liontrust shares fall after fund manager suffers £1.1 billion of outflows
Thursday 17 Oct 2024Shares in Liontrust (LIO) fell more than 7% to 486p in a week as the fund manager reported net outflows of £1.1 billion for the three months ending 30 September. The company’s shares hit a 52-week low on 11 October with AuMA (assets under management and advice) falling 4% to £26 billion. Liontrust...
Gambling shares slump on concerns of treasury tax raid
Thursday 17 Oct 2024Investors have been braced for changes to online gambling regulations aimed at leveling the playing field between land-based operators and online, but very few were expecting the UK Treasury to raid the whole sector to help the government fund its budget deficit. Share prices fell across the board...
Market unimpressed by Tesla’s hyped robotaxi event
Thursday 17 Oct 2024The stock market was hungry for detail on Tesla’s (TSLA:NASDAQ) robotaxi launch timelines and regulatory roadblocks, but all it got was a slick film-set demonstration vague on vital information leaving investors barely any the wiser. Elon Musk showcased Tesla’s ‘Cybercab’ during the company’s...
Investors slash rate cut bets after strong September jobs report
Thursday 10 Oct 2024It must be a thankless task predicting monthly US jobs data, which probably explains the widening range of forecasts in recent months. Estimates going into the latest (4 October) non-farm payrolls report spanned 60,000 at the bottom end to 220,000 at the top, so September’s 254,000 reading was a...
All eyes on inflation after strong US jobs report
Thursday 10 Oct 2024September’s surprisingly strong US non-farm payrolls numbers (4 October) have cast a long shadow over markets and potentially changed the landscape for investors going forward. The economy generated 254,000 new jobs, above the top end of forecasts, accompanied by unemployment falling to 4.1 % and...
No let-up for Spirax Group as earnings forecasts and the share price drift lower
Thursday 10 Oct 2024Shares in Cheltenham-based thermal energy management and fluid technology firm Spirax Group (SPX) hit a five-year low this week, trading even below the level they reached at the peak of the pandemic sell-off, after its latest capital markets event failed to spark enthusiasm. The FTSE 100 group,...
Data firm FD Technologies shares soar after First Derivative sale
Thursday 10 Oct 2024Shares in specialist software and consultancy outfit FD Technologies (FDP:AIM) have already surged in 2024 and got a further boost on confirmation of the sale of its First Derivative business to US software giant EPAM Systems (EPAM:NYSE) for £230 million. Proceeds of the sale will be used to repay...
Positive news on selling prices fails to lift the mood among housebuilders
Thursday 10 Oct 2024The latest house price surveys from Halifax and Nationwide – two of the UK’s largest mortgage lenders – should have investors in developers breaking out the champagne, yet stocks such as Persimmon (PSN) and Taylor Wimpey (TW.) have gone nowhere for the last few weeks while Barratt Redrow (BTRW)...
Why is Watches of Switzerland buying a media company?
Thursday 10 Oct 2024Shares in luxury timepiece retailer Watches of Switzerland’s (WOSG) got a modest boost on news it had acquired publishing firm-to-luxury watch platform Hodinkee. The purchase of a media company by a retailer might look a bit odd at face value. However, the Patek Philippe-to-Audemars Piguet seller...
Cranswick shares hit new all-time high on positive earnings surprise
Thursday 03 Oct 2024Shares in Yorkshire-based pork and poultry producer Cranswick (CWK) leapt 280p or 6% to a new life-high just shy of £50 on Friday as the firm raised its outlook yet again following a better-than-expected second quarter. Led for the last decade by chief executive Adam Couch, a Cranswick ‘lifer’, the...