Betting shop magnate, GVC, which owns Ladbrokes and Coral, is sticking to its plan to close 900 bookies in the next two years despite another profit upgrade which has sent share prices soaring. Wednesday’s upgraded guidance, the second in three months, anticipates EDIBTA of between £670m to £680m, up from previous expectations of £650m to…
Market action for the UK 100 this week has been dominated by massive “risk-off” trading. Tepid manufacturing PMI data from China triggered the risk-off sentiment, which kicked into full swing when the US ISM Manufacturing PMI data gravely disappointed market expectations. A global sell-off in the stock markets as well as risky commodities followed, while…
The highly anticipated half-year results from supermarket giant Tesco were delivered alongside the shock resignation of its CEO, Dave Lewis, on Wednesday. Mr Lewis explained his decision to step down from the helm as personal, saying that a CEO tenure should be finite and ‘now is the time to pass the baton.’ Despite this news…
Luxury car brand Aston Martin is spluttering to the end of its first year as a public company, looking like it might be ready for repairs. The car maker’s shares slumped another 6 per cent on Wednesday, standing at 480.00p at the time of writing, a whopping 75% drop in value since it floated a…
After a stellar sales performance and the success of its vegan sausage roll earlier in the year, Greggs third-quarter update has been slightly disappointing. The high-street bakery reported a slight slowdown in like-for-like sales growth to 7.4% to the end of September. The results are far from catastrophic – in fact they still keep the…
Tesco will release its half year trading figures this week – can it beat the constraints of the increasingly competitive supermarket sector? The supermarket has seen its shares rally 20% already this year, and prices currently stand at 244p at time of writing. Its expected that Tesco will report earnings of 7.5p per share, which…