Shares in power-generation company Drax Group are -5% in mid-morning trading after the company reported significantly reduced earnings (EBITDA -15.7% YoY) and operating cash flow (-43% YoY). Two unplanned generation unit outages and £27m in coal asset write-offs are stated as the primary reason for much of the pre-tax earnings losses, while some of the…
Another prime example of read-across hurting the sector. This time it’s the airlines. A downbeat outlook message from Ryanair on Q2 pricing, zero H2 visibility, higher fuel costs, the risk of more disruption (ATC and crew strikes) and, of course, Brexit is weighing on both it and peers. Especially easyJet, even after it upgraded guidance…
Share prices don’t just move up or down because of good or bad financial results, and thankfully so. If they did, we’d have little to get excited about between quarterly, half-yearly and/or full year updates. Prices also move on changes in sentiment towards economic and sector growth. But that’s not all. Clients are often very…
It was an eventful week for the UK 100 , many China-exposed shares seeing significant volatility due to their exposure to the on-again-off-again US-China trade war. With many metals & mining companies reporting next week, here’s what we’re paying attention to. The reporting calendar for next week is chock full of Mining companies, both big…
Friday, 20 July Guardian Artjom Hatsaturjants, research analyst at Accendo Markets, says market sentiment has “soured” since Trump threatened to go ‘whole hog’ and impose tariffs on all $500B of Chinese imports to the US. https://www.theguardian.com/business/live/2018/jul/20/trump-fed-criticism-currency-war-fears-yuan-uk-public-finances-business-live Thursday, 19 July City A.M. Mike van Dulken, head of research at Accendo Markets, said: “Having itself only recently lost long-serving chief…
WPP shares advertise losses of 3.2% this morning, among the UK 100 ’s worst off. This is based on read-across from French peer Publicis whose shares are almost 11% offside after surprising investors with a 2.1% decline in Q2 net revenues (consensus +1.1%) attributable to a sharp drop in US healthcare communications (“we weren’t expecting…