doceo Watch List July 5, 2022 Discount Watch: 9 That’s the number of trusts whose discounts hit 52-week highs over the last seven days – an improvement on last week’s 14. Of the nine, three make an appearance for the second consecutive week: UK investor Diverse Income Trust (DIVI); Baillie Gifford European Growth (BGEU); and European big box investor Tritax EuroBox (EBOX). Sector-wise, property and private equity [...]
HgCapital and a dash of HG Sauce July 5, 2022 Inflation on the up; recession threat rising; markets in the land of the bears – just three of the issues confronting the private equity sector today. Standard operating procedure for investors in private equity investment trusts when faced with such a backdrop? Assume heavy NAV markdowns, a dearth of realisations and significant widening of discounts. [...]
Boris Johnson’s plan for 50-year mortgages is outright ‘risky’ and solely aimed at inflating the market, warns property guru July 5, 2022 Boris Johnson’s latest proposal for the housing market is “another risky, spontaneous announcement aimed at temporarily inflating the housing market” according to the boss a major property firm. David Alexander, the chief executive officer of DJ Alexander Scotland, part of the Lomond Group, told City A.M. today he believes that the comments from the Prime [...]
Cautious consumers send chill through UK services economy July 5, 2022 Consumers are rolling back spending at pubs, bars and restaurants in response to rampant inflation whacking their budgets, reveals a closely watched survey published today. New business growth in Britain’s services industry, its economic engine, slowed to its worst level in 16 months in June, according to S&P Global’s purchasing managers’ index (PMI). The cool [...]
The next 75 years: will generalists or specialists prevail? July 5, 2022 | City Talk To generalise or specialise? From the vantage point of 1947, when four financial analyst societies joined forces to create the federation now known as CFA Institute, that question may have had a different answer than it does for investment professionals today. Concentrated in New York and London, finance was hardly the world-spanning sector of 2022. [...]
Sainsbury’s boss has grim warning for Brits: The pressure on your budgets will only intensify July 5, 2022 The CEO of Sainsbury’s warned this morning that rising pressure on household budgets “will only intensify over the remainder of the year” as he pledged to invest more money into improving value for shoppers. Simon Roberts, chief executive of the supermarket group, said it is working to reduce costs across its operations amid continued inflation. [...]
EU set to overhaul listing rules as competition for tech IPOs intensifies July 5, 2022 The European Union is looking to overhaul listing rules to allow founders to retain more control after going public, in a bid to tempt more tech firms into floating in the bloc.
DHL launches UK recruitment drive to create 3,500 new jobs for ten new depots across Britain July 5, 2022 DHL said this morning the logistics giant plans to invest more than £190m into creating 10 new collection and delivery depots across the UK, and expanding 20 existing sites, which will create 3,500 jobs. The investment forms part of DHL’s plan to expand its UK e-commerce operation – DHL Parcel UK – through a £482m [...]
Bank of England orders lenders to strengthen reserves amid ‘deteriorating’ economy July 5, 2022 The Bank of England yesterday ordered lenders to fortify their defences in preparation for the looming economic downturn, warning the City against “excessive” cuts in lending to households and businesses. The central bank, which oversees Britain’s banking sector and the country’s monetary policy, doubled the proportion of money lenders need to keep in reserve to [...]
UK automotive industry takes another hit as new car registrations drop to worst June since 1996 July 5, 2022 Registrations of new cars fell by around 24 per cent last month compared with June 2021, according to preliminary figures from the Society of Motor Manufacturers and Traders (SMMT) this morning. This means the UK automotive industry suffered its worst June for new car sales since 1996. In fact, only around 800,000 new cars were [...]