Shares in Virgin Money are flat in London today as the challenger bank says it has accepted a £1.7b all-share merger offer from CYBG, valuing Virgin Money at 371p a share, representing a 19% premium to VM share price on 4 May, before the official merger approach was made. In return, Virgin Money shareholders are…
Friday, 15 June This is Money Mike van Dulken, head of research at Accendo Markets, said: ‘Today’s announcement builds on yesterday’s already impressive 6.5 per cent climb on a trio of good news. ‘Firstly, we were told that necessary restructuring/job cuts (to make it lean and mean) might cost £500m but would save a net £400m…
Having written about Support, Resistance and Trading Ranges last week, I thought I’d build on this. So let’s look at two numbers, found in both our pre-market Morning Report publication and updated in our late-morning Index Focus. They are there to help Accendo’s clients identify when the UK’s UK 100 equity Index may be breaking…
The Big Four UK banks have been feeling the pain in 2018 as the combination of political turmoil, US/Eurozone interest rate spread and negative momentum has pushed their share prices lower. But not all big banks are the same and to make successful investments during the downturn, you need to take a closer look at…
Rolls Royce shares jumped as much as 14.4% this morning to fresh 3yr highs (biggest jump since Feb 2016) thanks to a strategy update including tweaked financial guidance versus yesterday. Today’s announcement builds on yesterday’s already impressive 6.5% climb on a trio of good news. Firstly, we were told that necessary restructuring/job cuts (to make…
Shares in UK’s flagship engine manufacturer Rolls-Royce were +3% as the company announced it was cutting 4.6K UK jobs (8.4% of company workforce) to save a net £400M p.a. by end of 2020. Company was quick to respond to market pressure to improve its financial stability after European Aviation Safety Agency highlighted reliability issues with…