IAG shares top the UK 100 this morning with Q1 results helping them extend their recent breakout from 633p. Today’s 5.7% jump takes the recent rebound from 590p to 14.7%. More importantly, however, we are close to a retest of Jan highs of 680p. Will this remain a hurdle (so far the case) or can…
Smith & Nephew shares plunged over 7% after the company cut 2018 full-year guidance from the expected 3-4% down to 2-3% range. The medtech company blames “mixed performance” in the US and other established markets, which saw negative underlying revenue growth (-2%). Q1 group revenues may well have grown by 5%, but with underlying growth…
The Beast from the East strikes again and today it’s the turn of two rather different UK Index companies to highlight the damage inflicted, both footing the blue-chip index. Firstly, Direct Line says the recent “freezing weather hit many drivers, households and businesses hard” (in other words, all customer groups) and it expects claims from…
Just Eat shares are up just shy of 4% after the online food ordering company delivered a smorgasbord of positive Q1 results. Investors are gobbling up news of a 49% jump in Q1 revenues, helped by strong order growth (+32% YoY to 51.6M orders) both in UK (+24%) and overseas (+46%). Investors are clearly ignoring…
The strongest factors influencing the direction and momentum of the FX rate are major macroeconomic indicators, chief among them the changes in the key interest rates. Higher interest rates make the currency more attractive and lead to a stronger Pound. In the UK, interest rate policy is determined by the Bank of England’s (BoE) Monetary Policy Committee (MPC),…
Shares in WPP are 8.8% to the good this morning despite a lacklustre Q1 report card: Q1 net revenues -5.1% (6.1% FX headwind as GBP recovers), like-for like group sales fell -0.1%, key North American sales fell 12.3% (a whopping 10.6% FX drag) and net debt rose 8%. The positive reaction likely derives from a…