Berkeley Group shares are -4.5% this morning after the housebuilder delivered an effective profits warning for 2019+, indicating 30% lower net profits. This comes in spite of upbeat FY 2018 results, with net profits +15.1% at £934m (estimate beat), with flat revenue (£2.7b) in-line with expectations. Despite solid 2018 numbers, the real message from the…
Another bad day for UK Retail and Housebuilders, with profits warnings from Debenhams and Foot Asylum hurting for former and McCarthy & Stone doing the same for the latter. And then there is hobby group Hornby and UK Index member Ashtead down in the dumps too. Debenhams shares trade 11% lower, well off their -20% lows…
The strongest factors influencing the direction and momentum of Foreign Exchange (FX) rates are changes in the key interest rates, themselves highly sensitive to macroeconomic data such as inflation and economic growth, as well as geopolitical concerns. Higher interest rates tend to render the currency more attractive (and vice versa) which in turn can result in it…
Shares in Virgin Money are flat in London today as the challenger bank says it has accepted a £1.7b all-share merger offer from CYBG, valuing Virgin Money at 371p a share, representing a 19% premium to VM share price on 4 May, before the official merger approach was made. In return, Virgin Money shareholders are…
Friday, 15 June This is Money Mike van Dulken, head of research at Accendo Markets, said: ‘Today’s announcement builds on yesterday’s already impressive 6.5 per cent climb on a trio of good news. ‘Firstly, we were told that necessary restructuring/job cuts (to make it lean and mean) might cost £500m but would save a net £400m…
Having written about Support, Resistance and Trading Ranges last week, I thought I’d build on this. So let’s look at two numbers, found in both our pre-market Morning Report publication and updated in our late-morning Index Focus. They are there to help Accendo’s clients identify when the UK’s UK 100 equity Index may be breaking…