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Asset manager Abrdn is having a tough time on the stock market
Thursday 31 Aug 2023Having only been promoted to the FTSE 100 index last December, fund management firm Abrdn ( ABDN ) is looking to be a leading candidate for demotion from the large-cap benchmark at the next quarterly review. Confirmation of the changes to the index were due as this edition of Shares was being...
Discover the reasons behind these three retail share price jitters
Thursday 31 Aug 2023August is a quiet period for UK retail reporting, but the month proved volatile for the share prices of three shopkeepers as investors reacted to the negative read-across from corporate activity and updates from the US retail sector. Watches of Switzerland’s ( WOSG ) shares plunged 27% to 499p on...
Darktrace investment case strengthening, claims analyst
Thursday 31 Aug 2023Analysts have raised Darktrace ( DARK ) profit forecasts ahead of annual results set to be published on 6 September. Having revisited the investment case, Liberum has upgraded 2023 adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) estimates by 14%, and nudged full year...
August hasn’t been kind to stocks but investors find a silver lining
Thursday 31 Aug 2023Investor confidence has been tested this month as global indices have put in their worst performance so far this year, weighed down by the realisation UK, US and European interest rate rises have further to go, despite softening economic data, and by a continued sluggish recovery in China. As of...
Market faces up to ‘5% world’ ahead of Powell’s Jackson Hole appearance
Thursday 24 Aug 2023While a pre-earnings surge for Nvidia (NVDA:NASDAQ) shares may have helped US stocks snap their recent losing streak, there’s no doubt concerns about interest rates staying higher for longer have helped temper market sentiment. US 10-year treasury yields hit a 16-year high of 4.35% amid continuing...
Why Intel’s blocked Israeli chip deal could pose threat to technology M&A
Thursday 24 Aug 2023US technology firm Intel (INTC:NASDAQ) has pulled the plug on plans to acquire Israeli chip maker Tower Semiconductor after the deal failed to get regulatory approvals from Chinese authorities, a move that ups the ante in the technology battlefield between Washington and Beijing. China’s regulator...
Hotel groups Dalata and PPHE look to benefit from strong summer trading trends
Thursday 24 Aug 2023Ireland’s largest hotel operator Dalata Hotels ( DAL:AIM ) is due to report its results for the six months to the 30 June 2023 on 29 August and fellow hotelier PPHE Hotel Group ( PPH ) on 31 August. Dalata posted a strong second quarter update in June with like-for-like group RevPar (revenue per...
Strong domestic economy and improving balance sheet see Bank of Georgia shares surge
Thursday 24 Aug 2023Shares in Bank of Georgia ( BGEO ) are 171% higher than they were three years ago and up more than 20% in just the last six months to all-time highs of nearly £36. More good news if you are a shareholder is that the European lender has raised its interim dividend by 65% to 3.06 lari (0.92 pence)...
VinFast zooms on to US market as investors pick holes in Tesla’s China strategy
Thursday 24 Aug 2023Shares in EV (electric vehicle) maker Tesla (TSLA:NASDAQ) slumped last week on the announcement the company would cut prices again in China, the number one market for its products. Just last month, the US firm and 15 of its Chinese rivals signed an agreement promising to compete ‘fairly’ with each...
Barbenheimer can’t even save Everyman Media with the shares down 30% so far in 2023
Thursday 24 Aug 2023Box office record smashers Barbie and Oppenheimer helped lift admissions for Everyman Media ( EMAN:AIM ) in the final week of July and this is set to continue in August. But that’s where the good news stops, there is no hiding the fact that Everyman is struggling to get known amongst consumers, its...