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Chinese stock market rocked by $330 billion Evergrande liquidation
Thursday 01 Feb 2024China is once again in the spotlight after a Hong Kong high court pulled the plug on negotiations to save the world’s most indebted property developer China Evergrande (6666:HKG) . Shares in Evergrande were suspended at HK$0.16 and are unlikely to reopen again after a judge ruled ‘enough is enough...
Why shares in fashion victim Superdry have slumped 50% year-to-date
Thursday 01 Feb 2024It has been a dire start to 2024 for Superdry (SDRY) , the Julian Dunkerton-steered fashion brand whose shares are down almost 50% year-to-date, extending one- and five-year losses to 86% and 96% respectively. The latest downward lurch reflects a pre-Christmas profit warning (19 December 2023)...
InterContinental Hotels continues to benefit from strong travel demand
Thursday 01 Feb 2024Shares in global hotels operator Intercontinental Hotels (IHG) have put in a stellar performance since the onset of the pandemic, gaining 175% since March 2020. Over the last 12 months the shares have continued to notch-up new highs and are up around a third compared with a 2% drop in the FTSE 100...
Luxury goliath LVMH shows resilience but Diageo serves up sobering results
Thursday 01 Feb 2024Post-Christmas updates from the industry demonstrate that not all luxury goods companies are created equal, with sector players experiencing contrasting fortunes as the post-pandemic boom normalises and well-heeled shoppers prove more selective. On 25 January, the world’s largest luxury goods group...
US stocks hit new high buoyed by biggest jump in consumer confidence in 33 years
Thursday 25 Jan 2024After a new year stutter which saw the S&P 500 index fall in three of the opening four sessions, the world’s largest market is back to winning ways notching up a new all-time high on 19 January. Investors seem to have taken heart from a widening in stock market participation beyond the ‘...
Finsbury Growth & Income marks three years of underperformance
Thursday 25 Jan 2024Following on from our coverage of Fundsmith Equity (B41YBW7) and the fact it has lagged its benchmark for three years running, another popular fund with retail investors, the Nick Train-run Finsbury Growth & Income (FGT) , has also failed to outperform over the last three years. As the manager...
Under the radar tech star Super Micro Computer surges as earnings set to smash forecasts
Thursday 25 Jan 2024Shares in US data centre hardware outfit Super Micro Computer (SMCI:NASDAQ) have extended their remarkable gains over the last 12 months to 491% as the company flagged an exceptional second quarter performance (19 January). Revenue for the three-month period to 31 December is expected to total...
UK core dividend payments rose 5.4% to £88.5 billion last year
Thursday 25 Jan 2024While it may have been choppy seas for growth investors last year, for those with an income strategy it was plainer sailing with regular dividend payments for the FTSE All-Share excluding investment trusts growing by more than 5% to over £88 billion according to the latest Dividend Monitor report...
How Advanced Micro Devices has surfed AI wave
Thursday 25 Jan 2024It’s been easy to overlook Advanced Micro Devices (AMD:NASDAQ) as Nvidia (NVDA:NASDAQ) cornered the market for AI microchips last year. Yet analysts are increasingly seeing scope for AMD to emerge as a second AI chip champion as computer processing power demands surge. Microsoft (MSFT:NASDAQ) is...
Birkenstock under pressure after disappointing post-IPO earnings
Thursday 25 Jan 2024Birkenstock (BIRK:NYSE) tripped over itself on Wall Street last week, with the shares falling by as much as 14% at the opening bell before stabilising after the German shoemaker delivered a mixed earnings report for the fourth quarter of 2023 and a muted outlook for 2024. The stock slid as the...