Which stock markets look cheap? November 1, 2021 | City Talk The last time I wrote an update of stock market valuations was back in January. A great deal has happened in the world since then, but from a valuations standpoint, precious little has changed. Nothing is cheap. And the markets which were most expensive in January are still the most expensive. And those which were relatively [...]
ProCook sets IPO price range up to £200m November 1, 2021 UK kitchenware brand ProCook has today set a price range for its planned IPO which gives the retailer an estimated market capitalisation up to £200m. The company announced a price range for shares between 137p to 185p, making its estimated market capitalisation between £150m and £200m. ProCook said 40 per cent of the company’s issued [...]
Saudi Aramco’s lofty $30bn profits boosted by high oil prices October 31, 2021 Saudi Aramco has reaped the rewards of higher oil prices, having pulled in more than $30bn in net income in its third quarter. The earnings have surged an eyewatering 158 per cent – its highest income since listing on the Saudi stock exchange in 2019 – in comparison with the same period last year, when [...]
How Covid moved views on sustainability October 29, 2021 | City Talk The Covid pandemic has intensified concerns about environmental and social issues among individuals around the world who invest. That is one of the key findings from Schroders’ 2021 Global Investor Study. Another is that increasingly asset managers are expected to take responsibility for action over climate change. Here, we take a glance at the sustainability [...]
London markets dip as NatWest tumbles on money laundering charge October 29, 2021 London markets tumbled this morning driven by investors being spooked by NatWest booking millions to deal with the fallout of a money laundering scandal. The capital’s premier FTSE 100 index dipped 0.24 per cent to 7,231.78 points, while the mid-cap FTSE 250 fell 0.37 per cent to 23,113.91. More to follow.
Glencore’s marketing business FY earnings to surpass $3.2bn, says mining giant boss October 29, 2021 Glencore’s marketing business has lifted its full year adjusted earnings forecast to exceed $3.2bn, the mining giant’s CEO Gary Nagle said in the firm’s third quarter production update. Shares dipped 0.8 per cent to 356.4p per share during early trading. It follows Glencore’s recovery from reduced production as global energy markets have begun to rebalance [...]
Downbeat Shell drags FTSE 100 lower October 28, 2021 A poor set of results from FTSE 100 big beast Shell pulled London’s premier index down during the opening session of trading today. The blue-index dipped 0.23 per cent to 7,236.77 points, with the oil megacap’s two listed shares falling more than 1.70 per cent. Shell published results this morning showing earnings slipped 25 per [...]
Q&A: why are so many investors still ignoring the UK stock market? October 27, 2021 | City Talk Q: Are UK shares cheap because they’re “old economy” businesses in the banking, oil and tobacco sectors? Bill Casey: When we speak to management teams of UK-listed businesses, many are pulling their hair out, complaining their shares are lowly “rated” compared to US and European-listed peers. They run good quality businesses which we don’t think have [...]
FTSE 100 pulls back from 20-month high as investors brace for budget October 27, 2021 London’s FTSE 100 pulled back from a 20 month high this morning as investors brace for Chancellor Rishi Sunak to deliver his third budget at lunchtime today. The capital’s premier index slipped 0.22 per cent to 7,261.88 points during the opening session. More to follow.
Passive funds and ‘Do no harm’ are not synonymous October 26, 2021 | City Talk Some very black-and-white and reductive opinions about the prudence of active management have been making the rounds in the investment world of late. For example, in Defined Contribution Plans: Challenges and Opportunities for Plan Sponsors, from the CFA Institute Research Foundation, Jeffery Bailey, CFA, and Kurt Winkelmann state that an investment committee’s first responsibility is to “do [...]