European stocks are set for their worst week since August. Time to panic, no? A gentle reminder that all good things CAN come to an end….. most definitely! Don’t assume stocks only go up. Global equity markets have enjoyed an epic advance for many months, years even. However, twitchy fingers are eager to click ‘sell’…
After so many questions about why equity markets are finally showing some signs of weakness, I thought I’d build upon what I wrote in today’s Index Focus. One reason for general equity market weakness is a continued 2018 rise in bond yields (especially the US) to hit multi-year highs, offering better relative returns versus what…
Shares in Cobham have reversed gains of nearly 5% this morning to trade almost 2% lower, adding to yesterday’s 4.6% decline, as investors digest the company’s sale of two businesses for $455m/£325m following a portfolio review. Yes the deal is in cash. Yes the company will use the proceeds (along with existing cash) to pay…
Royal Dutch Shell shares are lower today, as a $2bn tax reform charge steals the headlines over surging profits. But despite the dent from the tax charge – itself at the lower end of management’s $2-2.5bn guidance range – profits at the UK 100 ’s largest company more than doubled with Q4 earnings on a…
In terms of updates, the latest from just-through-the-door Capita CEO Jonathon Lewis is about as ugly as it gets. That said, credit where credit’s due for getting it all out in the open, warts ‘n’ all. A worsening in trading since mid-December’s pre-close update, challenging sector trends and unavoidable headwinds mean a warning on 2018…
One could be forgiven for thinking hell has frozen over this morning. Not just because cold weather has returned, but because outspoken Ryanair CEO Michael O’Learly has capitulated, making his most significant U-turn yet. Yes, he’s finally given in and agreed to recognise his first trade union, the voice of the budget airline’s 600 UK…