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Vistry fires starting gun on housebuilder M&A with £1.2 billion bid for Countryside
Thursday 08 Sep 2022With the deal to buy Countryside Partnerships ( CSP ) , Kent-based housebuilder Vistry ( VTY ) sent a clear signal to the market that not only was it confident in its own prospects but the opportunity to consolidate within the industry was too good to miss. The £1.25 billion price tag for...
Stocks sink as Fed chair Powell looks to avoid mistakes of the past
Thursday 01 Sep 2022American writer Mark Twain famously remarked ‘history doesn’t repeat itself but it often rhymes’. Federal Reserve (Fed) chair Jerome Powell’s Jackson Hole speech to central bankers (25 August) has shown him to be a shrewd student of American economic history. The hawkish nature of Powell’s remarks...
Weak markets leave UK tech exposed to bids
Thursday 01 Sep 2022The UK-listed technology space faces being left threadbare as low valuations leave leading ‘made in Britain’ companies at the mercy of opportunistic overseas buyouts. Enterprise software company Micro Focus ( MCRO ) last week (26 Aug) agreed to be taken over by Canada’s Open Text (OTEX:NASDAQ) in a...
Domino’s Pizza will struggle to deliver tasty earnings as inflation bites
Thursday 01 Sep 2022Shares in short-sellers’ target Domino’s Pizza ( DOM ) are down the best part of 50% year-to-date and there could be more pain to come judging by the experience of the takeaway firm’s counterpart in Australia. Investment bank Jefferies highlighted a negative read-across to Domino’s UK following...
China’s behind-the-scenes easing has been good for investors
Thursday 01 Sep 2022While UK investors have been fretting over the hike in household energy prices on one hand and commentary coming out of the Jackson Hole meeting of central bank governors on the other, the authorities in China have been quietly helping support global shares by easing monetary and fiscal policy...
Zoom Communications is struggling to keep pandemic growth going
Thursday 25 Aug 2022Z oom Communications (ZM:NASDAQ) is struggling to grow fast in the post-pandemic world after its latest earnings release once again disappointed investors. The San Jose company reported second quarter to 31 July 2022 adjusted earnings per share of $1.05, beating the $0.94 expected by analysts, but...
Cineworld shares now only worth pennies as it faces bankruptcy
Thursday 25 Aug 2022Shareholders in cinema operator Cineworld ( CINE ) face an uncertain future as the company confirms it may enter Chapter 11 bankruptcy in the US. The best outcome if it goes down this route is, in its own words, ‘very significant dilution’ for existing investors as the company faces a testing...
Why Fed chair’s Jackson Hole speech matters so much to the markets
Thursday 25 Aug 2022The global rally in recent months has been material but is beginning to be tested with the Jackson Hole summit in Wyoming, starting today (25 August), set to dictate the future trajectory of stocks. The key question facing investors is whether the moves we have seen since June represent a return to...
Why global investment trusts have lagged behind their open-ended counterparts
Thursday 25 Aug 2022The fact they are able to invest using borrowed money has contributed to the underperformance of global investment trusts compared with global open-ended funds over the last 12 months, according to recent research by Kepler. The total net asset value (NAV) return for the AIC (Association of...
Artisanal Spirits’ maturing whisky stock ‘worth 10 times’ the value of the business
Thursday 25 Aug 2022Investors looking for deep-value opportunities should note that shares in online premium whisky purveyor Artisanal Spirits ( ART:AIM ) trade at a material discount to the value of its maturing stock of Scotch whisky. As Equity Development notes, this inventory has an estimated value of £430 million...