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Ferrexpo shares slump on war, government spats and legal issues
Thursday 06 Jun 2024Ukrainian iron ore mining group Ferrexpo (FXPO) has seen its shares slump 40% in the last three months amid ongoing nervousness over the conflict with Russia as well as spats with the government and legal issues. This has overshadowed operational progress with the company reporting on 23 April its...
Indian stocks retreat from record high on third term for prime minister Modi
Thursday 06 Jun 2024Indian stocks have been on a roller-coaster ride this week buffeted by uncertainty on the outcome of the election as prime minister Narendra Modi was on course to bag his third consecutive term in office. The BSE Sensex index comprising India’s 30 largest companies by market capitalisation surged 3...
Why Shein’s £50 billion IPO will give ASOS and Boohoo the shivers
Thursday 06 Jun 2024As Shares goes to press, reports suggest online fast-fashion behemoth Shein is preparing an IPO (initial public offering) on the London Stock Exchange after its attempt to list in New York faced opposition from US lawmakers due to perceived China links. The IPO could value the fashion group at...
Latest index shake-up sees Darktrace bump Ocado out of the FTSE 100
Thursday 06 Jun 2024For readers who may not be aware, being market-cap weighted both the FTSE 100 and the FTSE 250 index are reviewed and rebalanced every three months to take account of share price movements. In the previous review, which took place at the end of February, budget airline group EasyJet (EZJ) won...
Watches of Switzerland shares fall on flagging demand for luxury goods
Thursday 30 May 2024Luxury watch retailer Watches of Switzerland (WOSG) is one of the worst performers in the mid-cap FTSE 250 index over the last six months, with its shares falling by around a third. The bulk of the share price losses came in January after the timepiece retailer downgraded full year 2024 revenue...
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...