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What the narrowest corporate bond spreads in two decades mean for investors
Thursday 24 Oct 2024As the Federal Reserve signals the start of an interest rate cutting cycle aimed at recalibrating monetary policy, yields remain relatively high by recent historical standards. For example, 10-year US treasuries have a current yield a smidge above 4%. Investors looking to grab some extra yield...
Budget likely to feature a raft of ‘stealth taxes’ to raise revenue
Thursday 24 Oct 2024Unfortunately for the new chancellor, and by extension taxpayers, the latest public finance figures reveal there is ‘no magic money tree bathed in the light of a rainbow,’ as AJ Bell’s head of financial analysis Danni Hewson put it. Government borrowing in September was £16.6 billion, the highest...
The market is looking for Visa lawsuit clarity
Thursday 24 Oct 2024It’s been an unusually bumpy spell for Visa (V:NYSE) since finding itself threatened with being hauled over the regulatory coals. In September, the US Department of Justice launched a lawsuit against the credit and debit cards colossus over claims that Visa has been unfairly monopolising its debit...
Why former stock market darling Fevertree Drinks has lost its fizz
Thursday 24 Oct 2024Priced at 756.5p at the time of writing, shares in premium mixers pioneer Fevertree Drinks (FEVR:AIM) are down 30% over one year, have shed more than 60% of their value over five years and trade below their 935p Covid low. Downgrades have dampened investors’ thirst for the tonic water-to-ginger...
Why Simply Be owner N Brown is enjoying a major bounce
Thursday 17 Oct 2024Shares in N Brown (BWNG:AIM) have enjoyed a bounce since early summer, taking year-to-date gains to the best part of 60% as investors applaud progress against CEO Steve Johnson’s multi-year transformation plan. The turnaround of the Manchester-headquartered online clothing and homewares seller is...
Wall Street hits new highs on better-than-expected bank results
Thursday 17 Oct 2024US stocks hit fresh all-time highs last week after the third-quarter earnings season started with a bang, with both JPMorgan Chase (JPM:NYSE) and Wells Fargo (WFC:NYSE) beating consensus profit forecasts. Heavy buying of both stocks helped push the KBW Banking Index up over 3%, with JPMorgan shares...
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...