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AI chip champ Nvidia adds $230 billion in a day
Thursday 30 May 2024Blowing consensus estimates out of the water has become habitual for Nvidia (NVDA:NASDAQ) , fuelling an astonishing eight-fold jump in the share price in less than two years. It’s most recent near-9% rally in the wake of more forecast-thumping earnings added an extra $230 billion to its market cap...
AstraZeneca shoots for the stars, GSK wins first Zantac trial and PureTech Health launches tender at a premium
Thursday 30 May 2024The long-awaited investor day at AstraZeneca (AZN) on 21 May delivered a punchy increase in the pharmaceutical giant’s long term growth ambitions inviting further analysts upgrades to revenue and profit forecasts. After achieving its prior target of generating in excess of $45 billion of revenue by...
What will a general election mean for the markets and the economy?
Thursday 30 May 2024Prime minister Rishi Sunak’s decision to call an early general election came too late for UK investors to respond, but the ‘day after the night before’ saw the the FTSE 100 close 30 points or 0.4% lower at 8,339 which is hard to read anything into as far as markets are concerned. A more telling...
Seraphim chimes once again with investors
Thursday 30 May 2024The world’s first listed SpaceTech fund, Seraphim Space Investment Trust (SSIT) , is due to report third quarter results for the three months ending 31 March 2024 on 6 June. Seraphim shares have rallied sharply in recent months, coming off a 52-week low of 26p on 12 July last year to hit a 52-week...
Why Marks & Spencer can maintain its momentum
Thursday 30 May 2024Retail bellwether Marks & Spencer’s (MKS) latest results (22 May) suggest the food, fashion and furniture seller has embarked on the turnaround which has been long in the making with many false dawns down the years. Shares in the FTSE 100 retailer are at a fresh five-year high of 300p following...
Pressure mounts on cybersecurity hot stock Crowdstrike
Thursday 30 May 2024Cybersecurity industry investors have been experiencing the jitters after Palo Alto Networks’ (PANW:NASDAQ) back-to-back quarters of soft guidance. It’s certainly put pressure on large sector ETFs, with firm early year gains for £1 billion-plus ETFs L&G Cyber Security (ISPY) and iShares Digital...
Chinese government proposes state ‘rescue’ of unsold properties
Thursday 23 May 2024In the latest twist in China’s long, drawn-out property crisis, which has seen giant developers such as Evergrande (3333:HKG) and Country Garden (2007:HKG) fall into liquidation, Beijing has relaxed mortgage rules and urged local councils to buy up unsold homes in order to bolster consumer...
Is the airline sector facing a turbulent summer?
Thursday 23 May 2024News last week that EasyJet’s (EZJ) chief executive of seven years Johan Lundgren was to step down in early 2025 clearly rattled investors, sending the budget airline’s shares down more than 5% on the day. Lundgren’s decision to fly the coop was all the more surprising given it came the same day...
Keywords Studios on brink of leaving the market as private equity strikes again
Thursday 23 May 2024Neglected, unloved, UK-listed companies are increasingly attracting overseas takeover interest. Rather like the proverbial 29 bus, from a dearth of bid interest a few months ago there has been a flurry of activity in recent weeks. Data from Dealogic shows the value of UK takeover bids in 2024 is $...
Troubles at Coral and Ladbrokes owner Entain spark break-up talk
Thursday 23 May 2024Sports betting and gambling firm Entain (ENT) has seen its shares halve over the last year and recently plumb new 12-month lows just as the FTSE 100 is hitting new highs. This poor showing reflects a combination of factors including weak operational performance, regulatory headwinds and a lack of...