Against the backdrop of a troubled UK retail market (9:30 UK retail sales missed expectations), Debenhams only adds to the bad news with another ugly profits warning, this time forcing it to rebase the dividend to 0.5p (-51%), as some had speculated, to preserve cash. This will, of course, anger those already sitting on significant…
Data yesterday showed UK wages growing faster than prices in February for the first time in a year, the first suggestion that a long-running burdensome squeeze on consumers may be easing. This buoyed hopes that the Bank of England (BoE) might feel less inclined to hike rates in May, and that a troubled retail sector…
Shares in Ashmore rose almost 9% in early morning trading, topping the , on news that Assets Under Management (AuM) increased by a whopping $7B in Q3. This represents the biggest quarterly surge since the quarter ended 30 Sept 2015 (+$7.8B), thanks to ravenous demand for exposure to emerging markets (EM). Seeking perhaps to flee…
Earnings season has started and true to form, it has begun with a bang, with the likes of Tesco, Sage , Vedanta and ASOS to name but a few, giving us updates this week. To put it simply, some of these stocks have provided share price movements of up to 20% since their earnings release,…
This week’s UK Index winner is Tesco (+14%) which defied UK high street gloom to some extent, dragging peers Sainsbury (+4%) and Morrison (+3%) up with it. To be fair, several retail names fared quite well this week after trading updates and/or results, including Dunelm (performing well in tough UK market, online strong), Card Factory (faster…
Shares in Card Factory are 5% higher this morning, topping the , after a solid acceleration in full year sales growth (FY18) and a satisfactory start to the new year (FY19). Headline sales growth of 6% accelerated from 4.4% in FY18 while like-for-like sales grew 2.9% vs 0.3% prev. Even better news was the online…