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The impact of Kazakhstan unrest on shares and commodities
Thursday 13 Jan 2022The dust may be settling for now on the recent unrest in Kazakhstan, but the ructions are still being felt in the markets. Prices of oil and uranium, of which Kazakhstan is a major producer, moved higher amid the disruption. The country is a key centre for bitcoin mining and concerns over the...
Housebuilders hit by surprise escalation in cladding costs
Thursday 13 Jan 2022Shareholders in the big six major UK housebuilders received a rude awakening on Monday after the sector lost more than £1.5 billion in value after the government unexpectedly said it could force them to fix cladding issues on high-rise buildings at an estimated cost of up to £4 billion. The hardest...
Fed minutes unsettle bond and equity markets
Thursday 13 Jan 2022US bond markets have had a torrid start to 2022 with 10-year treasury yields moving up to 1.8%, from 1.5% at the end of the December, the highest since April 2021. The dramatic move in rates has had violent repercussions in the stock market with a clear investor preference for economically...
Tech fund manager warns of worrying signs
Thursday 23 Dec 2021A leading UK-based technology fund manager has warned of signs of ‘exuberance’ emerging in parts of the investment market. Ben Rogoff, who runs the Polar Capital Global Technology Fund (B42W4J8) and Polar Capital Technology Trust ( PCT ) , flagged the wave of new stock market listings and blank...
Markets undergo a dramatic week leaving investors dizzy
Thursday 23 Dec 2021Markets suffered a rare back-to-back fall on Friday and Monday (17/20 December) on a combination of rapidly increasing Covid cases, an unexpected UK interest rate rise and an unwelcome blow to the US growth outlook. The spread of the Omicron variant continued to accelerate causing several countries...
UK car insurance sector to benefit from move to Plan B
Thursday 23 Dec 2021UK car insurance stocks Direct Line ( DLG ) and Sabre Insurance ( SBRE ) could be among the companies enjoying a temporary benefit from the Government’s latest Plan B to help fight Covid-19, which includes the requirement to work from home if possible. A reduction in cars on the road should in...
Nike’s results smash forecasts amid North American strength
Thursday 23 Dec 2021Second quarter results published on 20 December from Nike beat expectations as the world’s largest sportswear company benefited from robust demand in its biggest market, North America, and what finance chief Matthew Friend described as an ‘incredible’ Black Friday week. Revenue and earnings topped...
Domino’s resolves franchisee dispute but investor doubts linger
Thursday 23 Dec 2021The long running power struggle between the UK and Ireland franchise owner of food delivery chain Domino’s Pizza ( DOM ) and its franchisees has finally been resolved, at least for now. Shares in Domino’s surged 22% on 16 December on the news it had reached a resolution with franchisees, partly...
BuzzFeed IPO flops while LadBible’s listing is a success
Thursday 16 Dec 2021The disastrous reception to BuzzFeed’s US stock market debut earlier this month didn’t stop fellow digital publisher and LadBible owner LBG Media ( LBG:AIM ) from having a successful listing on the UK market on 15 December. LBG Media priced its IPO (initial public offering) at 175p and its shares...
Market not sure about Rentokil’s $6.7 billion deal merits
Thursday 16 Dec 2021After initially receiving garlands from the market with a rising share price, investors quickly became more circumspect on hygiene services and pest control firm Rentokil’s ( RTO ) $6.7 billion deal for US rival Terminix. While the strategic logic of the deal is clear, creating a global market...