After another week of top tier events and major surprises, some UK blue chip stocks are back trading at some pretty notable lows. And with the UK 100 itself back trading at December 2016 lows, if these stocks rally, would now be a good time to buy the index? Global indices have been taken on…
Smiths Group is the UK Index loser this morning, -10%, after reporting lower H1 sales (-4%; -1% underlying), profits down -12% (-3% underlying; higher Medical R&D, Detection programme phasing, acquisition integration) and free cash flow down a very sharp -36%. This has only allowed the group to increase the interim dividend by 1.8%, less than…
Retailer Ted Baker has reported a solid set of FY results, with faster growth for the 52 week period than January’s already strong 8-week Christmas trading statement. Add to this welcome margin expansion, an FX boost and dividend growth in-line with profits and investors are scratching their heads at today’s 4% share price declines. As…
Shares in banknote maker De La Rue may be off their worst levels (-12.6% vs -19% trough), but remain volatile due to the uncertainty attached to today’s tandem disappointment of the CFO resigning and an unwelcome profits warning (unlikely linked). Whilst the timing is interesting, just week’s ahead of April’s trading update and May’s FY…
Macro observations Remember Brexit? The two-year long process of the UK leaving the EU? Well, after a period of relative radio silence, this week has seen the issue thrust back into the spotlight. Already this morning, the chief negotiators on both sides have announced that they have reached a provisional agreement on a 21-month transition…
At last, some welcome news from the UK high street! No, don’t be silly, declining retail trends aren’t reversing to give the internet a run for its money. Rather the UK Gambling Commission’s recommendations on restrictions to Fixed Odds Betting Terminals (FOBT –compared to crack cocaine) look set to be less onerous than feared. Investors…