Shares in Paddy Power Betfair traded as high as +5% today after the bookmaker reported solid Q3 results. Revenues grew 8% year-on-year (YoY) while pre-tax profit was flat. After costs associated with recent acquisitions and tax changes are removed, however, profits were up 6%. The sweetest tune for Paddy Power shareholders, however, was news that the company…
Despite Pharma giant Shire posting a decent set of Q3 results yesterday (revenues and profits beat consensus; healthy product sales growth; reiteration of full year guidance), the shares fell by 1.5%. Why? Because the company is being acquired by Japan’s Takeda for 4900p/share. In which case upside potential from better-than-expected results or an improved profits outlook is limited….
One of the biggest intra-day movers on the UK 100 this week was engine maker Rolls-Royce. It’s not the biggest riser or faller today – those “honours” belong to Paddy Power Betfair (+2.4%, rebounding from recent lows) and Evraz (-8.4%, disappointing Q3 production), respectively – but it captured the buzz of the trading floor this afternoon….
They say that a market correction requires a fall of at least 10%. So far, at 6885, the UK Index has fallen 9.1% from September’s 7560 peak. A revisit of 2018 lows of 6840 would take it to 9.6%. Some would say this is enough, especially after a 13% fall from May’s 7900 record ….
Shares in UK Housebuilders have had a tough year, most having fallen by around 20% so far to trade 12- if not 24-month lows. This has been driven by a combination of fears about a UK housing market which is already showing signs of slowing. But it’s not all bad. Culprits for this year’s share…
All of this has happened before. Price action on the UK Index chart over the past 2 weeks might look unprecedented, but history shows that corrections such as these occur regularly and lessons learnt from past bear markets can help us spot tradable opportunities for the future. I don’t even have to dig too far into…