In another worrying sign for Ivan Glasenberg, CEO of Glencore, it has been made known to the press that US hedge fund Knight Vinke Asset Management LLC, a shareholder in Xstrata is to vote against the takeover of the British miner by Swiss commodities trader Glencore International Plc unless the terms of the deal are “materially”…
Simon Fox News that the “wily” Mr Fox – the architect of a £1bn (yes that’s billion) decimation of shareholder value while at the helm of HMV for 6 years – the very same chap that bought Waterstones for £300m and sold it for £53m, the self same one that bought Ottakars for £63m and…
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Headlam announces an H1 pre-tax profit of £10.8m from £10.4m on revenues of £279.4m from £296m and states that it is gaining market share Restaurant Group announces an H1 adjusted revenues of £252m and a pre-tax profit of £26.1m and states it stayed…
Today’s report on US personal income and outlays adds to the mounting evidence of improving economic conditions in the US. Personal income rose 0.3% and consumer spending 0.4% – the largest rise in consumer spending during the last five months. Investors were carefully eyeing this report and, with the look of the stock market this…
Keith Jones, former JJB CEO and sinking ship deserter UPDATE (14:30PM) – The entire issued share cap in JJB has turned over today and I hope it is not all private investors buying in. Remember, whether the share price is £10 or 0.01p – if the company goes bust you lose 100%. That being said,…
Pretty much all of the stocks we covered in our Dream Oil Explorers portfolio have stuck on 20-60% in recent weeks – Heritage, Gulfsands and Xcite being in the vanguard but the one outlier has been Bowleven. Volume in the stock has been woeful during the dog days of August but there does seem to…
Given the near 25% move in XEL over the last 2 days it looks likely that an RNS will be forced shortly. Watch this space. For holders of the stock, particularly those on a good profit, it is tempted to be blind-sided by recent sharp moves to the upside – it after all human nature.…
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Hays announces a full year pre-tax profit of £122.4m from £100,7m and states that the overall economic backdrop was likely to remain challenging WPP cuts its full year sales forecasts to around 3.5% from 4% and states there was some slowing of revenues…
The Standard & Poor’s/Case Shiller index released yesterdat posted a fifth successive rise, increasing by 0.9% which was above the median estimate of 0.5% and so adding to the mounting evidence of a recovering US housing market. All 20 major metro areas posted gains in June from May. This is now the second straight month…
August has been a bullish month for the euro which has, almost silently, headed north, hitting 1.26 against the US dollar late last week and recovering from a cold bath in 1.20’s water. Even though Mario Draghi has been accused of giving out false expectations about possible ECB intervention in debt markets, investors remain optimistic…
