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Richemont on the rise as China reopening boosts shares
Thursday 18 May 2023Shares in luxury watches-to-jewellery retailer Compagnie Financière Richemont (CFR:SWX) , typically known as Richemont, have risen 47% over one year and are testing all-time highs at ₣156.9 (Swiss francs) following the conglomerate’s forecast-beating sales (12 May) for the fourth quarter ended 31...
New Vodafone CEO takes no-nonsense approach but it will be enough to win over investors?
Thursday 18 May 2023The new chief executive of Vodafone ( VOD ) has wasted no time in giving her views on the state of the FTSE 100 telecoms business and it’s not pleasant. In her opening salvo for the group’s full-year results, Margherita Della Valle said: ‘Our performance has not been good enough. To consistently...
Why bond and equity investors are pricing in very different futures
Thursday 18 May 2023The big disconnect between what bond markets are implying and what equity markets are expecting is widening with recent data suggesting the bond side may be gaining the upper hand as signs of a weakening economy filter through. Economists at the US Federal Reserve are forecasting a shallow...
Travel stocks fly high as the sector finally enjoys a post-pandemic recovery
Thursday 11 May 2023Shares in travel companies have been among the best performing stocks over the past six months as investors recognise that more people are flying and falling oil prices raise the prospect of reduced fuel costs. The cost-of-living crisis does not appear to have prevented consumers from booking their...
US rate hikes fuel banking crisis and a surge in gold and bitcoin
Thursday 11 May 2023While inflation is showing signs of peaking, it is not falling as fast as the Federal Reserve would like which means more monetary tightening may be necessary. The central bank increased interest rates by an expected quarter of a percentage point on 3 May and further rate rises cannot be ruled out...
Heavy selling in Paramount on big streaming losses and a dividend cut
Thursday 11 May 2023Shares in US media giant Paramount Global (PARA:NASDAQ) plunged over 25% at the start of May, wiping out most of their year-to-date gains. The firm posted what was generally seen as a dismal set of first quarter earnings, blighted by losses associated with its new streaming service. Sales for the...
Baltic Classifieds is motoring ahead with online sales growth
Thursday 11 May 2023Shares in Baltic Classifieds ( BCG ) – the leading online classified advertising firm in Estonia, Latvia and Lithuania – have been on a roll since posting strong half-year results in December. The company operates 14 portals for classified ads, covering four areas – automotive, real estate, jobs...
Why consumer health spin-out Kenvue climbed in strong market debut
Thursday 11 May 2023The consumer health spin-out from Johnson & Johnson (JNJ:NYSE) , Kenvue (KVUE:NYSE) enjoyed a positive stock market debut on 4 May, with shares in the company surging 22% to $26.90 in a move valuing the business at about $50 billion. Behind iconic brands rooted in science including Listerine...
Cloud computing, not artificial intelligence, is what’s really driving big tech earnings
Thursday 04 May 2023The rise of artificial intelligence or AI has got everyone talking about the big tech companies, but it looks like cloud computing revenue and profit will remain the key drivers of growth for some time. The latest quarterly results from Microsoft (MSFT:NASDAQ) , Alphabet (GOOG:NASDAQ) and Amazon (...
HSBC shares leap as profits triple and firm announces $2 billion buyback
Thursday 04 May 2023After a mixed reception to UK bank earnings in recent days – with shares in Barclays ( BARC ) up more than 5% while NatWest ( NWG ) shares fell nearly 4% – investors were unsure what to expect when Europe’s biggest lender by market value, HSBC ( HSBA ) , reported its results on 2 May. In the event...