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Vivendi spin-off Canal+ marks biggest UK IPO of 2024
Thursday 19 Dec 2024After what has been a poor year for UK listings, the London Stock Exchange could afford to celebrate this week with the float of French media group Canal+ (CAN) which debuted with a market value of around £2.5 billion. Although the shares were listed in London, and at that value would normally be...
Nasdaq hits new record as tech drives returns and investors lap up Bitcoin exposure
Thursday 19 Dec 2024The Nasdaq Composite index closed at a record high in mid-December as tech continued to drive returns ahead of the last Federal Reserve policy meeting of the year. Having recently smashed through the 20,000 mark, the index closed at 20,173.89 on 16 December, boosted by sharp jumps for Tesla (TSLA:...
Can Chemring profit play catch-up after slow start to the year?
Thursday 12 Dec 2024Military equipment supplier Chemring (CHG) would seem to be well placed considering the recent escalation of geopolitical tensions and conflicts which have lifted sector peers. However, the shares have fallen sharply during the last quarter of 2024. Investors are seemingly nervous about a back-...
Why Rolex seller Watches of Switzerland has clocked up a 40% gain in six months
Thursday 12 Dec 2024Following a tumultuous two-and-a-half year period in which the stock price plunged, Watches of Switzerland’s (WOSG) shares have rallied the best part of 40% in six months with the UK luxury watch and jewellery markets having bottomed out and US market share gains exciting investors. Having spooked...
China eases monetary policy ahead of Trump 2.0 and global tariff war
Thursday 12 Dec 2024It may not seem much to non-China watchers, but the Communist party’s politburo has changed the wording of its stance on monetary policy for the first time since the 2007/8 financial crisis from ‘prudent’ to ‘moderately loose’. Chinese and Hong Kong listed shares jumped, as did those of UK and...
Budget impact on UK firms tops £1 billion as hiring slows
Thursday 12 Dec 2024UK firms from the retail, leisure, hospitality, manufacturing, logistics and housebuilding sectors have said they will incur additional costs due to the increases in the national living wage and employers’ national insurance contributions announced in the Budget on 30 October. According to Reuters...
Frasers shares down 30% year-to-date as Budget blues bite
Thursday 12 Dec 2024Shares in Mike Ashley’s retail empire Frasers (FRAS) have fallen more than 15% in one month and are down almost 30% year-to-date, with investors worried about the UK consumer outlook and potential distractions from a boardroom battle with Boohoo (BOO:AIM) and overseas acquisitions dragging on the...
Facilities by ADF warning sends shares to new post-IPO low
Thursday 05 Dec 2024Sadly it’s been less a case of ‘lights, camera, action’ and more ‘brace for impact’ lately for shareholders in Facilities by ADF (ADF:AIM ), the firm which provides on-set serviced production facilities to the UK high-end TV and film industry. Floated in 2022 with hopes of bringing a touch of...
How the latest developments in French politics are rattling bond markets
Thursday 05 Dec 2024Since French president Emmanuel Macron’s surprise decision to call a snap election in the summer, French politics has effectively been stymied with an unworkable parliament split between the parties of the far-right Marine Len Pen, Macron and a weak left-wing coalition. It has taken months for...
Shock departure of Intel CEO Gelsinger leaves struggling chip maker rudderless
Thursday 05 Dec 2024Silicon Valley giant Intel (INTC:NASDAQ) is facing more upheaval after announcing the unexpected retirement of chief executive officer, Pat Gelsinger. Effective immediately, the decision marks a significant shakeup for the chip maker as it grapples with ongoing challenges and competitive pressures...