Before the bell: What you need to know before the US market open May 3, 2016 Oil prices are falling and Australian central bankers are getting jumpy. Here's what you need to know before the US markets open. Markets look set for a sharply lower open, following their European counterparts southwards. Many seem to have taken the old adage of "sell in May and go away," to heart it seems. S&P [...]
Estee Lauder plans shake-up of its beauty empire as third quarter sales rise May 3, 2016 Estée Lauder has announced a shake-up of its beauty empire that will result in up to 1,200 job losses, after posting a rise in third quarter sales. The company, which owns brands including Jo Malone, M.A.C and Clinique, said the strategy, called Leading Beauty Forward, was aimed at simplifying the business and cutting costs in an attempt to boost [...]
Signs of life in London’s flotation market as firms consider IPO options May 3, 2016 There are signs of life in London's flotation market after a slow start to the year. Furniture retailer The Range and store card maker NewDay are both considering initial public offerings (IPOs), which could value each company at more than £1bn. Today, audio visual and document solutions distributor Midwich announced it had raised £75m through a [...]
The Co-operative Group sells former Somerfield food stores to Hilco, the turnaround specialist behind HMV May 3, 2016 The Co-operative has sold around 90 food stores it inherited from its £1.6bn takeover of Somerfield eight years ago to Hilco, the buyout company behind HMV. The mutual said the sale to The Food Retailer Group, a subsidiary of Hilco, included 36 trading stores and an additional non-core portfolio of 50 properties, including offices and shops, that are no longer [...]
Is Aim about to get a new Joules in its crown? Fashion retail unveils plans for £140m IPO May 3, 2016 Joules has announced plans to bring its colourful wellies and country-style clothes to London's junior market with a £140m listing. The fashion and lifestyle retailer said the initial public offering will take place in the second quarter of the year, with its founder Tom Joule expected to sell down his 80 per cent stake to less than 50 [...]
At the open: European markets tumble, but the pound prances on May 3, 2016 European markets opened down this morning as traders consolidated positions ahead of a glut of corporate results this week. The FTSE 100 shot up by 16 points as bank holiday weekend trades become official, but then immediately plunged to stand down 0.4 per cent at 6,214 within the first hour of trading. Over in Germany, [...]
The activist mindset is invading the boardroom May 3, 2016 Activist investors boost the financial performance of the businesses they take aim at, according to a new study from S&P Global Market Intelligence, released today. Research into US companies listed on the S&P 1500 showed that those which were part-owned by an activist investor outperformed their rivals over both the short and medium-term. Read more: [...]
Forget Brexit: The real drivers of corporate decision-making lie way beyond Britain’s borders May 3, 2016 There has, understandably, been a great deal of attention paid to the EU referendum debate, both in the UK and in many other economies with an interest in sterling. But while the referendum is certainly a highly significant constitutional event, and one which warrants the attention it has been receiving, it is just one of [...]
Week ahead: Data and results set to keep UK investors busy as PMIs and supermarket results come thick and fast May 3, 2016 First quarter earnings season as well as a constant flow of economic data is set to keep investors busy all this week. The FTSE is coming off the back of a disappointing session after it closed down 80.51 points at 6241.89 on Friday following underwhelming results from some of the UK’s top banks. This week that [...]
Why are car-makers getting the cold shoulder from investors? Well, why not? May 3, 2016 What is the most unloved sector in the global equity market? First off, you might think of oil, which is beset by huge oversupply imbalances despite the recent bounce inspired in great part by bullish financial speculators. Possibly you might plump for banks, which are seeing their net interest margins scythed by increasingly desperate central bankers [...]