Shares in JD Sports are nicely higher this morning as the company upgrades FY profits guidance for the second time in four months. The high street retailer, known for its trainers and athletic leisurewear, upgraded its FY expectations to £300m, a gentle nudge above previous top end expectations of £270m to £295m. The latest guidance…
Having jumped 26% on Friday following rebuffal of an ‘opportunistic’ £8bn approach from competitor Melrose Industries, engineering company GKN’s shares are 2.5% further north this morning. This after Melrose said it is “commencing a series of shareholder meetings to discuss the proposal”. This suggests it may be looking for the nod from major shareholders to…
This week offered a timely insight into UK consumer confidence after Retailers and Housebuilders updated us on recent performance. Whilst inflation continues to outpace wages, consumers clearly remain focused on value. This resulted in mixed messages from management, UK Index winners and losers, and some very surprising share price moves. In Retail, the supermarkets started…
It’s been 10 years since the financial crisis. Since then, we’ve seen Brexit, and watched as across the Atlantic Donald Trump was elected to the White House. But who would have thought, just 12 months after coming into office, that UK Banks would be flying at multi-year highs, some their highest levels since the dark…
12 Jan Reuters (Link) “The company points to solid industry fundamentals with strong demand for new homes supported by accommodative financing, government initiatives as well as the well documented shortage of national supply. Long may this continue”, said Accendo Markets analyst Mike van Dulken. 11 Jan Armchair Trader (Link) The timing of these companies’ announcements couldn’t…
Bovis Homes is bucking a sector trend, +4.2% this morning and back close to November’s record high. Investors are embracing its Jan trading update, at odds with how they digested this week’s statements from bigger peers Persimmon (Tues; -1% a day all this week), Taylor Wimpey (Weds: -4%) and Barratt Developments (Thurs: -2.7%). This is…