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Shares in drinks firm Diageo hit three-year lows as sales stagnate
Thursday 18 Jul 2024Investors in spirits giant Diageo (DGE) could probably use a stiff drink after analysts at Goldman Sachs downgraded the stock to sell and cut their target price from £31.50 to £24.50. The shares have already lost more than 10% this year, against a 7% rise in the FTSE 100, due to concerns over sales...
Capita shares rally 40% following strategic rethink and software sale
Thursday 18 Jul 2024Shares in Capita (CPI) surged after the outsourcing firm announced (9 July) the sale of its standalone software business Capita One to a subsidiary of MRI Software. Capita One provides software solutions across the UK public sector to local authorities, local education authorities and housing...
Weaker-than-forecast second-quarter GDP adds to pressure on Chinese leaders
Thursday 18 Jul 2024So far, China’s Year of the Dragon hasn’t brought investors a great deal of prosperity with the Shanghai Shenzhen CSI 300 index of Chinese shares up by less than 3% against a 15% gain for the FTSE World Index. Recent data also suggests the economy is slowing with second-quarter GDP (gross domestic...
Burberry shares tumble to 10-year low on latest profit warning
Thursday 18 Jul 2024Shares in luxury goods group Burberry (BRBY) slumped more than 15% to 747p, their lowest level in more than a decade, after the firm warned it could make a first-half operating loss if weakness in its core markets persisted. In its first-quarter trading update covering the three months to the end...
US bank results highlight divide between Wall Street and Main Street
Thursday 18 Jul 2024Big US banks kicked-off the second-quarter earnings season on Friday (12 July) and despite earnings largely coming in ahead of Wall Street expectations, the share prices of JPMorgan Chase, (JPM:NYSE) , Citigroup (C:NYSE) and Wells Fargo (WFC) all ended the day lower. The results showed a widening...
Confident Supreme continues to deliver the (fast-moving consumer) goods
Thursday 11 Jul 2024Year-to-date, Supreme’s (SUP:AIM) shares have surged more than 60% to 173p on the back of forecast upgrades and positive strategic progress from the fast-moving consumer products supplier guided by entrepreneurial chief executive Sandy Chadha. Record results (2 July) for the year to 31 March from...
Victrex shares dip with second-half target under threat
Thursday 11 Jul 2024Shares in high-performance plastics firm Victrex (VCT) have taken a turn for the worse over the past six months as the company struggles with high inventory levels and industry destocking in its medical business. While second-quarter volumes have improved and full-year guidance has been maintained...
Paramount agrees $28 billion merger with Skydance Media
Thursday 11 Jul 2024US media firm Paramount Global (PARA:NASDAQ) and Californian-based film and TV production company Skydance Media have finally agreed merger terms, opening a new chapter for one of Hollywood’s oldest studios. The $28 billion Paramount-Skydance deal is the culmination of months of on-off talks which...
Political stability in the UK is in stark contrast to uncertainty across the channel
Thursday 11 Jul 2024Election worries have been front and centre for investors in recent weeks, from the increasing popularity of the right-wing RN (Rassemblement National) in France to the panic in the US Democratic Party after president Joe Biden’s disastrous political debate with Donald Trump. By contrast, the UK...
Britvic set for stock market exit after agreeing £3.3 billion Carlsberg buyout
Thursday 11 Jul 2024UK soft drinks maker Britvic (BVIC) looks set to become the latest FTSE 250 mid-cap company to exit the London stock market after agreeing to an improved £3.3 billion offer tabled by Danish brewer Carlsberg (CARL-B:CPH) on 8 July. The deal will see Britvic shareholders receive £12.90 in cash for...