Shares in auto and home insurance provider Esure are +3.78% this morning after company’s Board recommended that shareholders approve the proposed £1.2bn all-cash takeover offer private equity firm Bain Capital. This comes on the back of a gargantuan 30% share price jump yesterday, when the bid was first announced. The acquisition comes on the same…
Department store House of Fraser has been rescued from the clutches of administration for just £90m cash after talks with creditors failed. Billionaire buyer Mike Ashley, owner of Sports Direct, continues to go against the grain of an ailing high street, buying more space and taking stakes in struggling outfits. He either has incredible foresight…
Someone is active on social media and, for once, it’s not Donald Trump. Tesla CEO Elon Musk caused quite a stir this week with Twitter comments about taking the electric car-maker private. Are outspoken leaders a good thing for stocks? Here’s my take on the issue. There are plenty of corporate leaders and politicians with…
Thursday, 10 August Bloomberg The euro zone doesn’t need more risks on the table, says Mike van Dulken, head of research at Accendo Markets. https://www.bloomberg.com/news/audio/2018-08-10/van-dulken-pressure-mounts-on-turkey Thursday, 9 August London South East Accendo Markets analyst Mike van Dulken said: “Trade concerns remain to the fore, and not just between the US and China, with Washington set…
Shares in international steelmaker Evraz are -6.7% this morning in spite of a largely positive half-year report yesterday, highlighting how geopolitical and macroeconomic factors can do damage even to profitable companies with healthy earnings prospects. USD is surging against major peers, as Sterling remains under persistent pressure of disorderly Brexit, while EUR has been pummelled…
Shares Card Factory are down over 7%, at the tail end of the , after reporting negative H1 like-for-like sales growth (-0.2% YoY; excludes new stores) blamed on bad weather and a still cautious consumer. Even if this suggests an improvement to merely flat growth in Q2 vs -0.4% in Q1 (at the time attributed…