We live in interesting times. First, US President Trump announced he would slap hefty tariffs on imported steel and aluminium. Then, a shock attempt to poison a Russian ex-double agent in Salisbury provoked the UK and its allies to place fresh sanctions on Russia, the alleged aggressor. In these tense times, how can you maintain…
Shares in JD Wetherspoon (JDW) have turned negative after a strong start this morning as management guides towards lower sales and higher costs in the second half of the year. Investors initially brushed off the warnings at the open, perhaps confident that higher like-for-like sales in H1 can either offset the H2 contraction, or hopeful…
As sector giant Unilever announces it is moving its HQ to Rotterdam, but keeping its main London listing, smaller rival PZ Cussons has its own big news, in the form of short trading update. Unfortunately it’s not positive. Rather a profits warning which has punished the shares by up to a quarter to flirt with…
Morrisons (MRW) shares opened near the top of the UK 100 leaderboard this morning after announcing a 4p special dividend, however a largely muted response has since seen the share price turn negative. The UK’s fourth largest supermarket chain announced FY like-for-like sales growth (ex-fuel) of 2.8%, marginally ahead of the 2.7% analysts expected and…
Convenience food maker Greencore has crossed a red line this morning with an inconvenient profits warning punishable by a 22% share price drop, extending a 2yr sell-off to Oct/Nov 2013 levels. Firstly, management now expects 2018 adjusted EPS 6% below market expectations. This is pinned on a combination of negatives including weakness in both the…
Macro observations While this week may be quiet in terms of UK data, there is still one headline event that will have all Sterling traders closely monitoring FX markets. Tuesday sees the UK Chancellor Hammond deliver his Spring statement after reshuffling the Government’s Budget calendar, but it’s not just the dates that have changed. Tuesday’s…