Georgia Capital: Investment trust charts recovery after Tbilisi protest crash August 13, 2024 Georgia Capital, a UK-listed investment trust that owns around five per cent of Georgia’s economy, has charted its road to recovery after crashing during the country’s protests. In May, protests began against the Georgian parliament in Tbilisi due its new foreign agents law, which will see NGOs and independent media receiving 20 per cent of [...]
St James’s Place takes on Vanguard, but charges 350 per cent more August 13, 2024 St James’s Place is no stranger to high fees. Britain’s largest wealth manager has been pilloried for its high costs, from its controversial exit fee (now being phased out) to the high fees on its pension funds. Now, St James’s Place has earned a new accolade and a new issue with fees. The group’s Polaris [...]
Just Group shares soar 17 per cent after analyst expectations smashed August 13, 2024 Retirement financial specialist Just Group has soared past expectations with an underlying operating profit of £249m, 20 per cent ahead of consensus and up 44 per cent from last year. The company’s shares have soared 17 per cent this morning as a result to their highest in six years. In the firm’s interim results for [...]
Impax Environmental Markets assets dip while holding out hope for ‘resurgent M&A’ August 12, 2024 Impax Environmental Markets has reported a 0.5 per cent decline in the net asset value (NAV) of the trust over the six months to 30th June. The investment trust reported a NAV of 429.3p at the end of June, compared to 434.9p as of 31 December 2023. The company, which is the UK’s largest environmental [...]
BT shares jump after Altice sells 24.5 per cent stake in FTSE 100 giant to Bharti August 12, 2024 BT shares jumped 6.4 per cent after the market opened this morning after it emerged that its largest shareholder, Altice, had agreed to sell its stake in the business. The FTSE 100 giant’s largest shareholder agreed to sell its 24.5 per cent stake in the telecoms company to Indian conglomerate Bharti. Altice, which has struggled [...]
WH Ireland: Small-cap broker’s revenue plunges amid AIM swoon August 12, 2024 WH Ireland, the broker for small and medium-sized public companies, has reported a near 20 per cent slump in revenue due to “extremely challenging” market conditions. The group also reported a statutory loss before tax of £5.9m, up from £1.8m in 2023, thanks in part to a £2.9m restructuring charge. “These were principally redundancies and [...]
Meet the fund managers: ESG investing across the globe August 12, 2024 In this new weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Geir Lode, lead portfolio manager on the Federated Hermes Global Equity ESG fund. How does your fund stand out from others in the same market? As a firm and as a team [...]
All that glitters is gold: Investors flock to safe haven bullion amid market turmoil August 9, 2024 Amid the market turmoil at the start of this week, retail investors flocked to the safe haven asset of gold as they wrongly feared stocks would continue to sink. Bullion trading on the Royal Mint’s website shot up by 336 per cent on Monday compared to the average throughout the year, with the numbers of [...]
London IPO market prospects ticked up in August but no full recovery until 2025 August 9, 2024 The prospects of the UK IPO market are improving but are not expected to fully recover until 2025, Peel Hunt analysts have said. The premier of three notable IPOs in Raspberry Pi, AOTI and Rosebank over the past two months have all set the tone for a route towards a “broader re-opening” next year, said [...]
Will private equity set its sights on AJ Bell, M&G or River Global after the Hargreaves Lansdown takeover? August 9, 2024 The takeover battle for Hargreaves Lansdown seemed to have finally reached a resolution this morning, and within hours of the details being announced, analysts were already speculating as to which London-listed asset manager could be next to fall to private equity. Ben Bathurst, analyst at RBC, said today that the planned investment by the private [...]
