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CAB Payments IPO could be the trigger to revive UK stock market flotations
Thursday 29 Jun 2023Fintech business CAB Payments has set the price for its upcoming IPO (initial public offering) at 335p per share, implying a market value of £851 million when conditional trading starts on 6 July 2023. It should join the FTSE 250 index later this year based on that valuation. IPOs in London have...
Drug companies under the spotlight after breakthrough with new weight-loss treatment
Thursday 29 Jun 2023The obesity drugs market could be worth over $100 billion annually by the end of the decade according to industry experts as pharmaceutical companies race to find treatments for one of the fastest growing world health problems. On 23 June, family-owned German company Boehringer Ingelheim said...
Fidelity China Special Situations shares hit after China reopening stutters
Thursday 29 Jun 2023Last October, shares in Fidelity China Special Situations (FCSS) started to rally on hopes that a relaxation of Covid restrictions in China would help to lift the economy and benefit the companies in its portfolio. The shares went from circa 178p to 302p over the space of four months. Since then,...
Why Vodafone’s marriage of convenience with Three leaves questions hanging
Thursday 22 Jun 2023More than eight months since first mooting a possible tie-up, Vodafone ( VOD ) has confirmed plans to merge its UK operations with Three’s UK arm. If the proposed deal completes, it will create a UK mobile business on a par with rivals EE and Virgin Mobile/O2 in terms of subscribers, although still...
Cost of UK mortgages breaches 6% while June house prices fall for the first time in five years
Thursday 22 Jun 2023The outlook for UK house buyers is about to get tougher after the average cost of two-year fixed mortgages crept back above 6% this week, according to data group Moneyfacts. It is the highest level since last December in the wake of the disastrous mini-Budget last autumn when two-year fixed rates...
Shares in this US restaurant business more than doubled on its stock market debut
Thursday 22 Jun 2023Mediterranean restaurant chain Cava (CAVA:NYSE) made an explosive stock market debut on 16 June in New York, pushing its valuation beyond $4 billion. The company priced its IPO (initial public offering) at $22 per share, above the expected range of $19 to $20. The shares then started trading at...
Motorpoint shares slump as profit wiped out amid a multitude of factors
Thursday 22 Jun 2023Shares in second-hand car seller Motorpoint ( MOTR ) have fallen over 30% in the past six months to trade around the 102p mark – a far cry from the 385p level at which it traded just two years ago. On 14 June, Motorpoint reported a pre-tax loss for the year ending 31 March 2023 of £0.3 million...
Unfavourable exchange rates leave many Japan fund investors lagging Japanese stock rally
Thursday 22 Jun 2023Japanese stocks got their latest seal of approval from Warren Buffett as the legendary investor added to his holdings in Japan’s five largest trading houses. Akin to conglomerates, these ‘sōgō shōsha’ trade in a wide range of products and materials. Buffett has been rewarded for his faith in Japan’...
What El Niño means for commodity markets and how to play strong crop prices
Thursday 15 Jun 2023The El Niño weather effect promises to have an inflationary impact as it shakes a global food production apparatus still recovering from the shock associated with Russia’s invasion of Ukraine more than 12 months ago. The weather phenomenon could, depending on its severity, have a significant impact...
Gym Group faces macroeconomic headwinds and consumer behaviour shift
Thursday 15 Jun 2023Shares in low-cost no-contract gym operator Gym Group ( GYM:AIM ) remain close to March 2020 lows due to a slower than expected recovery in memberships post-Covid and high utility costs. Like-for-like sales and earnings before interest, tax, depreciation and amortisation (EBITDA) remain below pre-...