Mondi is among the top blue-chip risers this morning after putting its money where its mouth is with a special dividend to highlight confidence in the outlook and try and make October’s profits warning water under the bridge. A more profitable second half (profits up more than revenues; margin expansion) than the FY likely helps…
While headlines this week have been dominated by a deluge of speeches on Brexit, the UK’s departure from the European Union is only the second biggest concern of Europe this week. This weekend, Italy will go to the polls to elect a new Prime Minister almost 18 months after PM Matteo Renzi resigned to initiate…
Merlin Entertainments is the standout performer today, as the tourist attractions operator announces both FY revenues and profits rose despite what it billed as a difficult year. Although poor Summer weather and a spate of terror attacks kept tourists away from its key central London ‘Midway’ attractions – including Madame Tussauds and the London Eye…
Sky shares rallied over 20% yesterday, climbing after a $22.1bn bid from US media giant Comcast for the business. The all-cash offer of £12.50 a share saw the price rally to a high of $13.55, before closing at £13.28, 6.2% higher than the offer. But why did shares top the offer price, and why are…
ITV is left holding the blue-chip wooden spoon this morning with investors balking at FY17 results and ditching the shares. This morning’s weakness has reversed yesterday’s breakout, fuelled by hopes of a Comcast/Fox/Disney bidding war for Sky, inciting interest in UK broadcasting assets, sending the shares below prior Feb lows to trade levels last seen…
Persimmon shares are sharply higher this morning as the housebuilder issues a bumper pay-out to shareholders. With FY pre-tax profit improving by a quarter, helped by an impressive 28.2% operating margin (+320bps) and £2.03bn in forwards sales (+7.5%), management has committed to a capital returns plan which will see the company pay an additional 125p…