magazine archive
magazine archive
News
Shares in specialty chemical maker Victrex hit fresh multi-year lows
Thursday 15 Feb 2024High-performance polymer-maker Victrex (VCT) delivered a downbeat assessment of the outlook for the current financial year last week citing weakness in demand in several end-markets. The update caused the shares to fall almost 15% to a new multi-year low of £11.52 before clawing their way back...
Global data services specialist Experian continues to deliver positive news
Thursday 15 Feb 2024Shares in global data services specialist Experian (EXPN) are on a roll after the firm reported another strong set of results lifted by strong global demand. In November, the group reported a 5% increase in revenue on an organic basis to $3.42 billion for the six months ending 30 September 2023...
Consolidation in commercial property market shows no signs of slowing
Thursday 15 Feb 2024The recent wave of takeovers and mergers in the quoted UK commercial real estate sector has continued this week with the proposed all-share takeover of UK Commercial Property (UKCM) by Tritax Big Box (BBOX). The deal, which values UKCM at 71.1p per share or a 10.8% premium to the previous day’s...
S&P 500 surpasses 5,000 milestone and chip design firm ARM almost doubles in a week
Thursday 15 Feb 2024The S&P 500 hit another historic high on 9 February, closing above 5,000 for the first time. This milestone comes as no surprise for those investors paying close attention to the index. The S&P 500 has been on a general uptick since last October, rising 21% since the of that month. And the...
Big banks expected to report largely benign fourth quarter earnings
Thursday 15 Feb 2024The publication of full-year results by the big four UK high-street banks is imminent and there will inevitably be a good deal of scrutiny of their margins and provisions for bad loans. If last week’s update from Virgin Money UK (VMUK) is any guide, net interest margins should be fairly steady...
Blow-out US jobs report sends stocks higher despite implications for rates
Thursday 08 Feb 2024Markets often move in unexpected ways and Friday’s (2 February) release of blow-out non-farm payrolls data was no exception. The US economy added 255,000 jobs per month on average in 2023 and coming into the latest data for January the consensus was looking for the rate to slow to 180,000. The...
Tesla shares slide in 2024 as investors mull their next moves
Thursday 08 Feb 2024It has been sorry start to the year for Elon Musk and the thousands of loyal Tesla (TSLA:NASDAQ) shareholders. January alone has seen the stock lose 25% of its value, wiping nearly $200 billion off its market cap as the electric car maker continues to grapple with increasing competition, eroded...
Elementis shares soar after receiving a preliminary bid from US fund
Thursday 08 Feb 2024Shares in specialty chemicals maker Elementis (ELM) surged 12% to 139p at the end of January following a press report it had received a bid from a US private equity fund. The shares eventually hit a new 12-month high of 142.4p after it was revealed New York based firm KPS Capital Partners had...
Ferrari gets into top gear to buck softer luxury goods trend
Thursday 08 Feb 2024Luxury goods shares may have hit the skids in recent weeks on flagging demand in China and the cost of living crisis, but iconic Italian car maker Ferrari (RACE:NYSE) seems to go from strength to strength. The shares hit new highs (2 February) after fourth-quarter sales topped analysts’ estimates...
Meta Platform’s dividend call stuns the market
Thursday 08 Feb 2024Shares of Facebook and Instagram-owner Meta Platforms (META:NASDAQ) soared as the social media company reported blowout fourth quarter results (1 February) that beat even the most optimistic projections and unveiled a maiden dividend. By the end of the Wall Street session on 2 February, the stock...