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…
Shares in Dixons Carphone are -3.1% after a data breach that will do little to boost its reputation. No evidence of fraud has been identified but that doesn’t make up for the fact that client data was at risk. 5.9m payment cards in its Currys PC World and Dixons Travel processing systems to be precise,…
Shares in housebuilder Crest Nicholson were -7% as the company came out with a miserable H1 report that pointed to ballooning costs and flat pricing structure as a source of lower operating margins (down to 17.2% from 19.1% a year ago). Despite revenues +13%, continuing build cost inflation at 3-4% was devouring pre-tax profits (-2%)….
The strongest factors influencing the direction and momentum of Foreign Exchange (FX) rates are changes in the key interest rates, themselves highly sensitive to macroeconomic data such as inflation and economic growth, as well as geopolitical concerns. Higher interest rates tend to render the currency more attractive (and vice versa) which in turn can result in it…
Shares in NMC Health are almost 5% to the good, leading the UK 100 blue-chip index, after announcing the formation of a joint venture (in which it will have a majority stake and operational control) with Hassana Investment Co. to create new private healthcare platform. Nothing drastically different to the group’s strategy of incremental and…