Shares in cheap tat retailer Poundland (PLND) are up 13% this morning after (perhaps ironically) accepting a £2.22 per share cash offer from South African cheap tat retail specialist Steinhoff International, increasing its existing stake in the company to, well, 100%. This is the first European takeover success for Steinhoff this year, with the company notably…
Thinking we were putting ourselves out on a limb, expecting the Bank of England (BoE) to do nothing tomorrow, perhaps we’re not as contrarian as we first thought. This comes after speaking to one of our press contacts who suggested a good handful of peers are thinking the same. And while we don’t expect any…
The UK housebuilders are topping the UK 100 again, putting in another floor on their Brexit recovery rally. This comes thanks to a helpful trio of drivers including, 1) reduced political uncertainty regarding the next UK leader, 2) optimism that the UK central bank will ride to the rescue of the nation’s precious property market,…
Investor appetite for risk and hunger for outperformance is being nourished by the usual suspects of Banks/Financials and raw-material sensitive Miners topping the UK 100 this morning, accompanied by continued rebound by those Brexit-battered Housebuilders. This after Friday’s US jobs report saw stateside bourses push on towards all-time highs (the S&P500 within a whisker) as…
It’s fair to say the UK’s UK 100 has essentially brushed aside the Brexit fears that gripped it on the day the UK voted to leave. However it’s been driven back up by the big defensive stocks and some multinationals which have enjoyed FX translation benefits since they conduct a lot of their business in…
Back here again, already? Time does fly when you’re having fun. Only two weeks since the Brexit vote, major US companies are already lined up to report their latest quarterly profits and tell shareholders next week how optimistic they feel about the future. This can have a huge impact on share prices this side of…