Burberry: How low will ‘lost’ luxury fashion label’s shares go after FTSE 100 relegation? September 11, 2024 Burberry’s share price just keeps dropping and the decline is has shown almost no signs of slowing down for more than a year. It hit a 15-year low of 565p this week, after reaching a 14-year low in July, after hitting an all-time high of £2,690p last April. It is set to drop out of [...]
Deliveroo shares hop to two-year high as it aims for upmarket move September 11, 2024 Deliveroo shares bounded to a two-year high on Wednesday after the food delivery company announced plans to switch the category of its stock listing, in a move that could attract a wave of new investors. The company is proposing to move its shares from the Equity Shares (Transition) category to the Equity Shares (Commercial Companies) [...]
Jet2 founder Philip Meeson sells millions more shares September 11, 2024 The founder of budget airline and holidays operator Jet2 has further lowered his stake in the listed business after selling a further five million shares. Philip Meeson has sold the ordinary shares to a limited number of institutional investors. The deal involves approximately 2.3 per cent of the issued ordinary share capital in Jet2. In a statement [...]
Trustpilot shares jump on earnings beat and £20m buyback September 11, 2024 Shares in Trustpilot have jumped after the global review platform reported higher-than-expected earnings for the first half of 2024 and unveiled a new share buyback. The FTSE 250 firm gained as much as 9.3 per cent in early trading on Wednesday. Its stock price has surged 157 per cent over the last 12 months. Trustpilot [...]
Rentokil shares plunge as group issues profit warning September 11, 2024 Rentokil shares have plunged in early trading this morning after the firm issued a profit warning for the year. The pest-control firm said it would take a £80m hit to its operating profit after expanding its US workforce to meet peak season demand, which fell short of expectations. The Crawley-based company, which is listed in London [...]
Dunelm prepares to open first London stores as sales and profit rise September 11, 2024 London-listed homeware retailer Dunelm has seen its sales tick up despite its customers facing “competing demands” for their disposable income. The Leicester-headquartered firm saw its overall revenue climb to £1.7bn in the 12 months to 29 June 2024, up from £1.64bn the previous year—growth of 4.1 per cent. This increase was largely driven by 6.2 [...]
‘Misperceived and undervalued’ office renting firm IWG urged to quit London listing September 10, 2024 A leading shareholder in International Workplace Group (IWG) has called for the co-working firm to quit its London listing and relocate to the US to boost its value. Miami-based investment firm Buckley Capital Management, which said it was a top 15 shareholder of IWG, argued that the London market ‘misperceived and undervalued’ IWG. “We believe that [...]
Lords Group Trading: Shares in building merchant plunge after government delays heat pump scheme September 10, 2024 Shares in the UK builders merchant Lords Group Trading plunged by more than 15 per cent over the past week ahead of the company releasing a set of lack-lustre half year results on Tuesday. The London-listed company, which is headquartered in the capital, saw its share price slump to 36.5p in early trades as it [...]
Eleco: British software giant sees revenue soar as businesses look for AI solutions September 10, 2024 Software company Eleco has seen its revenue continue to soar as a growing number of businesses turn to tech to help improve efficiency. The listed company, which is headquartered in London and has offices across the UK and Europe, saw its revenue hit £16.2m in the six months ending June 30, 2024, up from £13.4m [...]
London dividend payouts slow as mining gravy train runs out of steam September 10, 2024 London investors were left short-changed in the second quarter of the year as miners reined in dividends after years of blockbuster payouts, according to new research. Firms like Glencore and Rio Tinto have formed the bulk of payouts in the City in recent years as swinging commodity prices pushed up profits in the sector. However, [...]