Time to breakup? Which UK stocks might benefit from selling assets Retail Selling assets is a fashionable activity for UK stocks: WH Smith announced this morning that it is exploring a possible sale of its high street business to focus on its travel trade, following in the footsteps of Reckitt Bensicker, Marston’s and DCC, all of which have sold assets to unlock value recently. The news from [...]
Lloyd’s of London insurer snubs the City with New York IPO plans insurance A Lloyd’s of London insurer has dealt a fresh blow to the City by snubbing the London Stock Exchange in favour of New York for its planned IPO, piling fresh pressure on the capital’s bourse after it shrank at the fastest pace on record last year. Aspen Insurance, an underwriting firm which operates out of [...]
Ashtead launches buyback amid FTSE 100 departure Markets FTSE 100 giant Ashtead has launched a $1.5bn (£1.2bn) share buyback after announcing yesterday it would be switching its primary listing to the US. In a stock exchange notice today, the construction equipment firm said it had entered into an agreement with Barclays to buy back up to 65m shares over the next 18 months. [...]
London Stock Exchange exodus hits £107bn as Ashtead eyes the US December 10, 2024 The value of companies fleeing the London Stock Exchange for foreign markets has reached £107bn this year after FTSE 100 Ashtead announced it would be heading across the Atlantic today. In a statement this morning, the construction equipment firm confirmed a long-rumoured move to swap its primary listing to the US, where it has its [...]
FTSE 100 giant Ashtead set to switch primary listing to the US December 10, 2024 FTSE 100 firm Ashtead has revealed plans to switch its primary listing to the US in the latest blow to the London Stock Exchange after a flood of exits this year. After months of speculation, Ashtead, which leases heavy machinery to the construction industry, said on Tuesday that the US market was its “natural long-term [...]
FTSE 100 falls back as traders digest Trump presidency November 6, 2024 The FTSE 100 pared its gains and sterling tumbled on Wednesday as traders digested how Donald Trump's presidency will impact the global economy and the UK.
Ashtead: Profit down at equipment giant as revenue slows September 3, 2024 Equipment rental group Ashtead’s revenue grew just two per cent, and profit fell during the three-month period ending 31 July, as a construction slowdown across the US hit the company. The equipment hire giant, the FTSE 100’s 25th largest firm, reported revenue of $2.75bn (£2.1bn) for the period, up from $2.7bn (£2.06bn) in the prior [...]
Ashtead: Equipment firm looks to manage expectations ahead of results September 1, 2024 Expectations have been kept low for equipment hire specialist Ashtead Group as it reports its first quarterly results of the firm’s fiscal year on Tuesday. The FTSE 100-listed firm has seen its shares slump 12 per cent from the two-and-a-half-year highs it reached in the spring. It had been one of the big beneficiaries of [...]
UK company interest payments skyrocket as rate hikes eat into profits July 1, 2024 UK company interest costs have skyrocketed almost 30 per cent as higher interest rates and rising debt ate into the profits of British businesses.
Aston Martin supplier Surface Transforms delays results again amid share price woes June 18, 2024 Surface Transforms said it anticipates full-year results will finally be published in late June 2024, having previously been expected in mid-April.