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Why French and US elections are the ones really moving markets
Thursday 04 Jul 2024As the UK heads to the polls, it is political events across the Atlantic and the Channel which are really dominating market discourse. In France the first round of voting in parliamentary elections suggested president Emmanuel Macron’s gamble of calling a snap poll last month had backfired. Marine...
Tesla remains under pressure despite modest beat on quarterly deliveries
Thursday 04 Jul 2024The race for pole position in the EV (electric vehicle) market looks to be coming to a head this year with Elon Musk-steered Tesla (TSLA:NASDAQ) on the verge of losing its long-held record of outselling every other manufacturer put together in the US. In the 12 months to the end of May, Tesla sold...
Double upgrade from Jefferies gives Future shares big boost
Thursday 04 Jul 2024Shares in Future (FUTR) accelerated as the media group received a double upgrade from ‘underperform’ to ‘buy’ at investment bank Jefferies. Analyst Oliver Conroy says he expects a return to strong growth in revenue, positive audience trends and further upside from high yielding US direct ad sales...
Nike trips up on outlook warning
Thursday 04 Jul 2024Sportswear firm Nike (NKE:NYSE) has extended the losses it has endured since a big pre-Christmas warning, with the shares now down more than 30% over the last year. A big chunk of those losses came after fourth quarter results on 27 June. While earnings beat Wall Street expectations, thanks to cost...
XPS Group ‘does the double’ with two years of 20% top-line growth
Thursday 27 Jun 2024After reporting record revenue in the year to March 2023, the question for pension consulting and actuarial firm XPS Group (XPS) was ‘how do we follow that?’, as co-chief executive Paul Cuff put it. The answer was go one better, as the results for the year to March 2024 showed: another year of 20%...
Ocado shares hit seven-year low after Canadian partner hits ‘pause’
Thursday 27 Jun 2024Shares in online grocery delivery and technology group Ocado (OCDO) slumped as much as 70p or 20% to 281p on 20 June, taking them to their lowest level in seven years, after Empire Company (EMP.A:TSE) , the owner of Canadian supermarket firm Sobeys, announced it would delay the opening of its...
Is the tide finally turning for retailers?
Thursday 27 Jun 2024According to the ONS (Office for National Statistics), retail sales volumes were much stronger than expected in May, following a wet April, in news which will be welcomed by the sector’s long-suffering constituents. Volumes rose by 2.9%, rebounding from the 1.8% fall witnessed in a washout April,...
The story behind a near-halving in YouGov’s share price
Thursday 27 Jun 2024Market research and polling outfit YouGov (YOU:AIM) has seen its shares dive nearly 50% since the company issued a profit warning on 20 June. Amid lower client bookings than anticipated, the company now expects group revenue for the full year 2024 to be in the range of £324 million to £327 million...
Nvidia market cap could hit $5 trillion, says analyst
Thursday 27 Jun 2024The stunning rally in Nvidia (NVDA:NASDAQ) stock could be far from over, with one analyst believing that the AI (artificial intelligence) chip designer could see its market cap smash through the $5 trillion level during 2025. So says Louis Navellier, chief investment officer and founder of...
BP Marsh blows away forecasts with bumper returns
Thursday 20 Jun 2024Most investors won’t have heard of BP Marsh (BPM:AIM) , the specialist investor in early-stage financial services businesses. Formed over 30 years ago by current chairman Brian Marsh, the firm takes an ‘eyes-on, hands-off approach’ to investing, taking small stakes in new businesses where it knows...