What has driven stock market returns and what could drive them in the future? July 29, 2020 Increasing valuations have been the main driver of stock market returns since Covid-19, but when we look over the past five years, we find a different set of drivers. Since the outbreak of Covid-19, markets have climbed a wall of worry, despite cuts to corporate earnings, forecasts and dividends. Increasing valuations have been the main [...]
GSK sales fall as vaccine demand slumps during lockdown July 29, 2020 Revenue at drugs giant Glaxosmithkline (GSK) fell below analyst expectations today as sales of its blockbuster Shingles vaccine contracted sharply in the second quarter. Turnover dropped three per cent to £7.6bn, a little below forecasts of £7.7bn, while earnings per share fell back to 19.2p, lower than the 20.1p predicted. Shares in the FTSE 100 [...]
28 months later: are European equities back on investors’ radar? July 29, 2020 European equity flows turned positive in June for the first time in 28 months – we look at what might be reviving investor interest in the asset class. It’s been a tough couple of years for pan-European equities. A combination of political worries, including Brexit, and weak economic growth means many investors have shunned the [...]
Samsung mulls ditching App Store and virtual assistant in possible Google tie-up July 29, 2020 Samsung is said to be considering plans to drop its own Galaxy App Store and its virtual assistant Bixby in favour of signing a deal with Google’s Android competitor. The tie-up would mark a major change for Samsung, which has consistently clung to using its own services rather than adopting Google’s offering. Google has tried [...]
Belgium and Croatia may be next on UK’s quarantine list July 29, 2020 People travelling to the UK from Belgium, Luxembourg and Croatia may face 14-day quarantines as coronavirus infection rates rise across the continent. Boris Johnson said yesterday that he feared mainland Europe was beginning to experience the first stages of a second Covid-19 wave. Infection rates have been recorded as rising in 11 European countries over [...]
UK pension scheme invests £5.5bn into ‘environmentally friendly strategies’ July 29, 2020 Britain’s largest pension scheme Nest has pledged to tighten its climate change policy with an investment of £5.5bn into environmentally friendly strategies. The government-backed scheme said it would decarbonise its £12bn investment portfolio in a bid to tackle climate change. Nest said it aims to be “net-zero” across its investments by 2050 or earlier, with [...]
UK just weeks away from signing Japan free trade deal July 29, 2020 The UK is on the verge of signing a free trade deal with Japan, with the agreement set to be closed within a matter of weeks. Negotiations, which began just six weeks ago, have reportedly reached a breakthrough point with the dialogue at an “advanced stage”, according to a government source. The Sun reports that [...]
Rising demand boosts Spotify to 138m paid users July 29, 2020 Spotify said today it had recovered from a coronavirus-related damp start to the second quarter, beating Wall Street expectations to report 138m in paid users. Subscribers to its Premium service, which accounts for most of the company’s revenue, were up 27 per cent from a year earlier. Analyst had on average forecast the company to [...]
Mr Kipling owner Premier Foods reports sales jump due to surge in home cooking July 29, 2020 Premier Foods, the owner of Mr Kipling and Bisto, said sales soared during lockdown as consumers cooked more meals due to home working and the closure of restaurants and cafes. Group sales in the 13 weeks to 27 June increased 22.5 per cent compared to the previous year, with branded sales up 27 per cent. [...]
Smith and Nephew swings to a loss as sales decline during lockdown July 29, 2020 Medical device maker Smith and Nephew reported a huge drop in revenue as leading to a loss before tax of $34m. The figures Smith and Nephew reported an 18.7 per cent drop in revenue in the first half of the year, leading to a loss before tax of $34m (£26.2m). It also reported an operating [...]
