If ever there was proof that Crude oil has a major influence on the UK 100 today was it. OPEC looks set to roll back by less than expected on the production cuts which helped oil prices almost triple from early 2016 $30 lows to recent highs of $80. Today’s news has helped the UK…
Shares in Syncona top the this morning, back flirting with turn-of-the-month record highs. This comes after confirmation that it will IPO (in the US, today) one of its portfolio companies, Autolus Therapeutics (AUTL: T-cell cancer treatments), at the very top end of the $15-17 offer range. The IPO (22% stake sale) will generate $150m proceeds…
Berkeley Group shares are -4.5% this morning after the housebuilder delivered an effective profits warning for 2019+, indicating 30% lower net profits. This comes in spite of upbeat FY 2018 results, with net profits +15.1% at £934m (estimate beat), with flat revenue (£2.7b) in-line with expectations. Despite solid 2018 numbers, the real message from the…
Another bad day for UK Retail and Housebuilders, with profits warnings from Debenhams and Foot Asylum hurting for former and McCarthy & Stone doing the same for the latter. And then there is hobby group Hornby and UK Index member Ashtead down in the dumps too. Debenhams shares trade 11% lower, well off their -20% lows…
The strongest factors influencing the direction and momentum of Foreign Exchange (FX) rates are changes in the key interest rates, themselves highly sensitive to macroeconomic data such as inflation and economic growth, as well as geopolitical concerns. Higher interest rates tend to render the currency more attractive (and vice versa) which in turn can result in it…
Shares in Virgin Money are flat in London today as the challenger bank says it has accepted a £1.7b all-share merger offer from CYBG, valuing Virgin Money at 371p a share, representing a 19% premium to VM share price on 4 May, before the official merger approach was made. In return, Virgin Money shareholders are…