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Wild moves in markets after SVB collapse and Credit Suisse rescue
Thursday 23 Mar 2023The evolving banking crisis sparked by the unravelling of Silicon Valley Bank is creating consequences that seemed unimaginable only a few weeks ago. While a run on a bank is nothing new the speed of the SVB’s demise was something which speaks to the increasing power of social media. Chief...
Scottish Mortgage chair to step down after boardroom blow-up
Thursday 23 Mar 2023Fiona McBain, chair of popular investment trust Scottish Mortgage (SMT) , is stepping down after a boardroom row over corporate governance exploded into the public arena. In a board update (21 March), Baillie Gifford’s flagship fund said senior independent director Justin Dowley will succeed McBain...
Currys endures Nordic noir as debt guided to be significantly higher
Thursday 23 Mar 2023A recent revival in Currys ( CURY ) shares has petered out in spectacular fashion as a previously reliable part of the business has become more and more of a problem. A tough consumer environment in the Nordics region which had initially been flagged as a short-term issue linked to competitors...
Find out why Volution’s shares have fanned higher
Thursday 23 Mar 2023Shares in Volution ( FAN ) have jumped 18%, from 355p to 419p, since the indoor ventilation firm posted strong first results (9 March) and said current trading remains robust. This builds on the strength the share price has shown since last autumn and has been sustained despite the recent...
Budget 2023: big news on pensions as lifetime allowance is abolished
Thursday 16 Mar 2023Panic in the banking industry overshadowed any big market impact from the Budget on 15 March even if the abolition of the lifetime allowance on pension contributions was a genuine rabbit out of the hat for investors. Previously the lifetime allowance, which is the maximum you can build up in a...
Banking crisis: should you be worried about investing in this sector?
Thursday 16 Mar 2023If a week can be a long time in politics, in financial markets it can make investors feel as though their whole world has been turned upside down. For years, analysts have consistently peddled the line that higher – or at least rising – interest rates are positive for banks because it means they...
Aston Martin shares jump the gun in rush for profitable growth
Thursday 09 Mar 2023Share prices often move up or down but the rally in those of Aston Martin Lagonda ( AML ) in recent months has left investors and analysts dumbfounded. Since early November 2022, the stock has soared 235%, a run that has added nearly £1.5 billion to the luxury car maker’s market valuation. There’s...
China’s new 5% growth target underwhelms as its focus shifts to boosting consumption
Thursday 09 Mar 2023New Chinese guidance for GDP (gross domestic product) growth has checked some of the optimism over any boost from the country’s reopening and hit shares in resources stocks given the implications for commodities demand. China’s GDP growth of 3% for 2022 was the lowest since 1976 as it struggled...
Fresnillo suffers as costs surge and precious metals lose some shine
Thursday 09 Mar 2023Mixed precious metals prices and disappointing operational news mean Fresnillo ( FRES ) shares have had a very poor start to 2023, down more than 17%. Focused on Mexico, the miner is the world’s largest producer of silver from ore and has significant gold output. Prices for both metals have been...
Shaftesbury focused on income growth and cost cutting as it completes Capco merger
Thursday 09 Mar 2023This week marks the start of a new chapter for the UK property sector with the completed merger of London’s West End landlord Shaftesbury and rival Capco. Shaftesbury, which first listed in 1987, was formed by the Levy family as a vehicle to invest in areas such as Carnaby Street, Chinatown and...