Shares in construction and services company Kier are up a hefty 10.3% this morning, retracing much of it’s recent Carillion-collapse-inspired decline and flirt with UK referendum lows. Investors can thank a timely half-year trading update which is in-line with expectations (business steady, margins maintained) and allows management to reiterate both FY guidance (revenues secured, double-digit…
JD Wetherspoons shares trade fresh all-time highs after reporting an impressive quarter of like-for-like sales, with +6.0% topping analysts’ estimates and coming virtually in-line with the previous quarter (+6.1% in Q1), despite concerns that adverse weather would impact sales and footfall. The results come just a day after peer Marston’s reported a disappointing fall in…
Another mixed bag from the UK retail sector this morning as Q3 updates help Pets at Home shares climb 8% while N Brown falls by 12%. Both reported positive revenue growth, with strength in online, and both reiterated full year guidance. All good so far. Pets at Home has been able to reassure shareholders with…
Macro observations In a heavyweight bout between Senate Democrats and Republicans over spending and immigration, no outright winner was crowned. Disagreements over the so-called ‘Dreamers’ programme ended with both sides walking away from a temporary government funding bill. As a result, the US Government has been shutdown for the first time since 2013, leaving hundreds…
Shares in Dixons Carphone are higher this morning as stellar Christmas trading figures and the announcement of a new CEO offset a narrowing of FY guidance. The statement, coming a day ahead of schedule after current CEO James’ notice of departure on Friday, echo the polarising Christmas period seen by UK retailers: Those with strong…
19 Jan City AM (Link) Mike van Dulken and Henry Croft, analysts at Accendo Markets, said the concerns of weak demand and rising supply were putting a dent in recent bullishness. “As a result, global benchmark Brent fell to a 10-day low of $68.50 overnight before finding support, while US crude briefly dipped below $63 before…