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Stealth rally in construction stocks suggests economy is on a firm footing
Thursday 25 May 2023While there is much handwringing over the outlook for the new-build housing sector, it seems the rest of the UK construction industry is in rude health. That has helped construction to be one of the best performing sectors in the FTSE 350 index year-to-date, up 20%. The latest S&P Global/CIPS...
End nears for Purplebricks’ life as a public company after Strike’s £1 bid
Thursday 18 May 2023Online estate agent Purplebricks ( PURP:AIM ) time on the stock market looks to be coming to an end as suitor Strike agrees a nominal £1 deal. Joining the stock market to some fanfare in 2015, at one time Purplebricks had grand ambitions of overseas expansion and reached a valuation of more than £1...
Are private equity investors turning cold on UK companies?
Thursday 18 May 2023All we have heard for the last few years is that private equity firms – especially those based in the US – have plenty of ‘dry powder’ to make acquisitions, and the UK market is a prime target due to the low valuations of stocks here. So why is it that several recent deals have failed to take off...
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...