What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
RPC Group’s annual profit doubled, but shares just tumbled June 7, 2017 Annual profit more than doubled at plastic packaging firm RPC Group, but sceptical investors caused the company’s share price to tumble. The figures Profit before tax increased 105 per cent to £154.7m in the year to the end of March due partly to acquisitions made since the launch of a new strategy in 2013. The [...]
Next demands rent cuts on par with its struggling neighbours May 21, 2018 Next is taking a stand against a wave of rent cuts handed out to its high street peers by demanding equal treatment from landlords. Following a series of company voluntary arrangements (CVAs) in the retail and restaurant sectors, Next is asking landlords to agree to rent reductions on its stores if a neighbour receives a [...]
These are the stocks to long and hortin the aftermath of Italy’s general election, according to algos at Quant Insight March 4, 2018 Italy’s general election today could have profound consequences on European markets, and certain stocks will be winners or losers. Analytics firm Quant Insight, which counts a number of global asset managers and hedge funds on its books, uses powerful algorithms to track which stock could benefit from specified outcomes. Ladbrokes Coral, Capita, Royal Dutch Shell [...]
No end in sight for high street’s woes as stalwarts like John Lewis struggle March 9, 2018 The UK high street was dealt another blow yesterday as one of the country’s biggest household names posted a sharp drop in profits. Profits at the John Lewis Partnership – which comprises John Lewis and Waitrose – fell 77 per cent to £103.9m in 2017, forcing the retailer to cut its staff bonus to its [...]
Sports Direct’s (SPD) shareholders gear up for revolt over Mike Ashley’s share buyback plans September 3, 2017 Sports Direct could face a shareholder revolt over its share buyback plan this week, as investors prepare to oppose the resolution at the retailer’s annual general meeting (AGM). Aberdeen Standard Investments will oppose more share buybacks on the basis that they hand too much power to Mike Ashley, chief executive and majority shareholder at Sports [...]
Sports Direct announces independent company will replace RPC to review working practices and corporate governance September 20, 2016 Sports Direct announced this morning that it would appoint a new independent party to conduct a review of its working practices and corporate governance – replacing RPC. Shares in the company were up 3.3 per cent mid-morning. [stockChart code="SPD" date="2016-09-20 11:15"] The embattled retailer said in a report released at the beginning of September [...]
Last Week in the City: Trump signs order for tariffs March 9, 2018 This week US President Donald Trump signed off on new tariffs on steel and aluminium imports, Trinity Mirror revealed plans to rebrand, and the European Central Bank took a further step towards ending stimulus measures. The FTSE 100 rose 1.9 per cent over the week by mid-session on Friday. Economics China will pursue annual growth [...]
Lurpak container maker aims to spread business globally with £500m US takeover February 9, 2017 UK packaging firm RPC Group’s shares dropped six per cent today after it announced a $640m (£511m) US acquisition. RPC, which makes containers for the likes of Lurpak butter, Philadelphia cheese and Dulux paint, has agreed to buy plastic food-packaging products firm Letica Group. Read more: RSA shares rise at the open as it disposes [...]
Mike Ashley’s patience runs out: Sports Direct appoints law firm despite previous investor sentiment January 14, 2017 Sports Direct has controversially appointed RPC to take control of its eagerly anticipated corporate governance review after two failed attempts at appointing alternative candidates. In an announcement to the stockmarket after it closed yesterday evening, Mike Ashley's firm said it had appointed the law firm, despite previous concerns from key investors over RPC's impartiality. Read more: [...]