M&S shares jump after Goldman Sachs hikes rating December 9, 2019 Shares in Marks & Spencer jumped this morning after investment bank Goldman Sachs hiked its stock rating following improvement in the retailer’s troubled clothing and home division. The company’s share price was up more than four per cent after Goldman Sachs issued a “buy” rating, from its previous “sell” recommendation, in a boost for the [...]
Equiniti shares slump as earnings set for bottom end of guidance November 19, 2019 Equiniti, the British-based financial services business, saw it shares fall over 10 per cent this morning after it announced that its full year earnings would be towards the lower end of market expectations. Read more: FTSE 100 rallies on trader optimism over US China deal In a trading update, the company said earnings for the [...]
UBS wealth arm pessimistic about UK earnings in 2020 November 28, 2019 UBS Global Wealth Management (GWM) has said it expects earnings growth for UK equities to flatline in 2020, regardless of which party wins the upcoming General Election. Analysts at the Swiss banking giant’s wealth arm said that if the Tory party wins and pushes through a Brexit deal, the benefits will be limited by fresh [...]
FTSE 100 pension schemes climb into surplus for first time since financial crash May 22, 2018 The funding position of FTSE 100 pension schemes has moved into surplus for the first time since the financial crash in 2007-08. Over the course of 2017, FTSE 100 pensions turned around a £31bn deficit to end the year £4bn in surplus. Lane Clark & Peacock (LCP)’s Accounting for Pensions report explained that the rise [...]
IG’s June Felix: Shorter trading hours would make London ‘less competitive’ February 23, 2020 The head of one of Britain’s largest trading platforms has become one of the most senior industry figures to speak out against proposals to cut trading hours in London, saying it would not be “helpful” for the City and could make it “less competitive globally”. June Felix, whose company IG Group offers 24-hour trading to [...]
Global stock markets climb after US and China agree to talks September 5, 2019 Stock markets have risen around the world today after the US and China agreed to resume talks over their trade war. Read more: Donald Trump says China talks going well as he turns fire on EU China’s commerce ministry today said high-level negotiations will begin in October, with preparatory meetings scheduled for the middle of [...]
Brexit and election uncertainty knock hole in Robert Walters’ UK profit January 9, 2020 Robert Walters’ share price dropped today as it revealed a huge 23 per cent dent to UK profits as a result of a rollercoaster year of political uncertainty in 2019. UK gross profit fell from £26.8m in the fourth quarter of 2018 to £20.7m in the corresponding period last year. Read more: Time too short [...]
Broker Finncap reports jump in first half turnover thanks to M&A boost November 25, 2019 Finncap has reported a jump in turnover for the first half amid “very testing market conditions”, with the broker boosted by strong performance of its M&A division. The figures The company reported a jump in turnover of just over 56 per cent in the six months to 30 September. Turnover hit £14.2m during the period, [...]
Global growth to pick up next year despite US and China slowdowns, says report December 4, 2019 Global economic growth is set to pick up in 2020 despite the world’s two biggest economies slowing, according to asset manager Investec. The world economy will expand 3.3 per cent in 2020, Investec said, picking up from a post-crisis low of 2.9 per cent growth this year. Read more: FTSE 100 slumps as Trump suggests [...]
M&S’s FTSE exit is a symbol of its terminal decline September 6, 2019 Archie Norman, the Marks & Spencer chairman, put a brave face this week on the retailer’s demotion from the FTSE 100. Nothing to see here, he said: the business was exactly the same on the day after its relegation. Focusing on it was the reddest of herrings. In a sense, he is right – but [...]