Regulator makes CFD restrictions permanent July 1, 2019 The City watchdog has confirmed that it will make a crackdown on selling contracts for difference (CFDs) to retail clients permanent. The Financial Conduct Authority (FCA) said it will make the European Securities and Market Authority’s (ESMA) temporary restrictions on CFDs permanent following evidence that the high-risk products had been “aggressively marketed” to the public. [...]
Woodford offloads stake in Raven property investment firm July 1, 2019 Embattled stockpicker Neil Woodford has jettisoned his 12 per cent stake in Raven Property Group, bringing the total he has raised since the suspension of his flagship fund to £459m. Raven announced today that it has bought back 72.1m shares from Woodford at 36p per share. Read more: Neil Woodford cuts stake in AI firm [...]
Long story short: What investors can learn from Carl Icahn and Netflix July 1, 2019 Seven years ago, shareholders in Netflix – the S&P 500 listed provider of online movies and shows – suffered a crushing loss as it disastrously attempted to raise prices and restructure. Roughly one million customers cancelled their subscriptions. Netflix’s share price plummeted to less than $53 from $300 in a matter of weeks, a loss [...]
Carpetright shares: Undervalued or overexcited? July 1, 2019 | City Talk By Graeme Evans from interactive investor. Carpetright’s peak trading period straddles the next Brexit deadline, but speculators are not put off. Carpetright (LSE:CPR) and its threadbare share price drew interest from speculative investors last week amid signs that the drastic measures needed for its survival are starting to pay off. While early days in the turnaround, the floor covering [...]
H2O fund downgraded over risk control concerns June 27, 2019 H2O, the London-based asset management arm of French investment bank Natixis, has seen its global macro fund downgraded due to concerns over risk controls. Ratings agency Morningstar downgraded the Allegro fund from “bronze” to “neutral” following concerns about its exposure to illiquid, high-risk bonds linked to controversial German entrepreneur Lars Windhorst. Read more: Asset manager [...]
Podcast: Why invest in AIM shares? June 27, 2019 | City Talk AIM is 24 years-old! To celebrate, our head of equity strategy Lee Wild and head of markets Richard Hunter discuss why it can be a happy hunting ground for investors, and how to do it successfully. AIM was launched in 1995, has a combined market capitalisation of more than £70 billion, and is home to [...]
Nicky Morgan: Asset managers should expect more scrutiny after Woodford scandal June 26, 2019 The chair of the Treasury Committee, Nicky Morgan, has said she expects the asset management sector to face more oversight after Neil Woodford’s flagship fund was suspended earlier this month. Morgan said that her committee would get behind increased scrutiny from the Financial Conduct Authority in the wake of the scandal. Read more: FCA chief [...]
Up in smoke: Is it time to stub out your exposure to tobacco stocks? June 25, 2019 “Blow in her face and she’ll follow you anywhere.” That was how one advert tried to sell cigarettes back in the 1960s. More than half a century later, the glamorous, seductive veneer of the cigarette industry has gone up in smoke. Gone is the attractive packaging, which has been replaced by ugly images of tarred [...]
Whitbread shares: Waiting for strategy to bear fruit June 24, 2019 | City Talk It’s not easy being a hotelier in this market, but Whitbread shares are holding their own for now. Despite having previously laid the groundwork in guiding expectations lower, Whitbread (LSE:WTB) has delivered a first-quarter update which is light on cheer. Without the diversification and success that Costa brought, the company is now mostly hostage to the cyclical [...]
Omnis Investments replaces Woodford with Jupiter Asset Management June 21, 2019 Wealth manager Openwork’s Omnis Investments has chosen Jupiter Asset Management to run a £317m fund that was formally run by Neil Woodford’s firm. Openwork removed Woodford Investment Management from the Omnis Income and Growth fund shortly after Woodford suspended its flagship fund on 3 June. Read more: Hargreaves Lansdown chief executive angered by suspended Woodford [...]