Analysts split over US listing for Watches of Switzerland following activist investor campaign October 23, 2024 London-listed Watches of Switzerland has come under pressure from activist investor Gatemore Capital Management to ditch its UK listing for the US, with analysts split over whether the decision would be beneficial for the firm. The UK’s biggest Rolex seller, which runs 221 stores globally, listed in London in 2019 and is currently a member [...]
Evelyn Partners: Wealth manager warns clients fretting over Budget tax changes October 23, 2024 Wealth management and accountancy business Evelyn Partners has warned that its clients have been fretting over the raft of speculation coming out about next week’s Budget. Rumours about the contents of the Budget have been flying out of Westminster, with concerns that the Chancellor Rachel Reeves may move to hike a variety of taxes and [...]
Franchise Brands mulls move from London’s AIM after chief’s promotion October 23, 2024 Franchise Brands is considering a move from junior market AIM to the main market of the London Stock Exchange following the appointment of a new CEO. The Macclesfield-based £300m company, which has been listed on AIM since 2016, said today that given the “scale and growth ambitions” of the company, it was taking the first [...]
WPP: New deals with Amazon and Unilever drive growth October 23, 2024 Like-for-like revenue at advertising giant WPP ticked up 4.1 per cent in the quarter to 30 September, despite a decline in business outside of the US and Europe. However, net new billings declined year-to-date. The figure came in at $3.2bn (£2.5bn) compared to $3.4bn (£2.6bn) in 2023. However, other regions struggled. Revenue in the UK [...]
Heathrow Airport: Passengers reach record high on summer boom October 23, 2024 Heathrow Airport smashed through its record-breaking 30m passenger target over the summer. It welcomed 30.7m between June and September, a record for the group. The figures brought the total number of passengers over the first nine months of the year to 63.1m, compared to 59.4m in 2023 – a record. The busiest day(s) in the [...]
St James’s Place ditches manager of lagging £9.9bn fund October 22, 2024 St James’s Place has ditched one of the managers of a struggling £9.9bn fund as Britain’s biggest wealth manager looks to recover from a troubling year and deliver more value for its customers. Impax, which has co-managed St James’s Place Global Quality Unit Trust since 2021 alongside five other investment houses, has been dropped by [...]
Bitcoin’s surge is thanks to one thing: Donald Trump’s improving ratings October 22, 2024 Donald Trump’s rising chances in the upcoming presidential election are helping bitcoin’s price come back close to its all-time high. Bitcoin’s price is up 11.5 per cent in the last ten days, and 26 per cent from its seven-month low in September, and analysts are pointing to a simple reason for the spike: Trump. Trump’s [...]
Oil and gas engineer Hunting’s stock plummets as profit forecast cut October 22, 2024 Oil and gas engineer Hunting’s stock plummeted this morning after it cut its profit forecast thanks to lower oil prices. Despite reporting a 16 per cent rise in profit during the third quarter, the London-listed energy services firm flagged falling sentiment and lower client activity in the sector. “Whilst the outlook for the international and [...]
Wickes returns to growth but warns pent up DIY demand is easing October 22, 2024 Home improvement firm Wickes reported it had returned to growth over the summer today but warned its sales were likely to wane as pent up DIY demand eases in the coming months. The London-listed retailer reported a 2.1 per cent growth in revenue, or 0.4 per cent on like-for-like metrics, with retail revenue growing by [...]
IHG: Holiday Inn owner reports room revenue growth October 22, 2024 Holiday Inn owner IHG’s revenue per available room was positive over the last quarter, despite concerns over its performance. In a third quarter trading update, Intercontinental Hotels Group reported global RevPAR, a key metric for the hotel industry, of 1.5 per cent. RevPAR in the UK grew by 2.2 per cent over the quarter, above [...]
