Tech rout slams UK online giants April 8, 2014 BRITISH technology shares were pummeled for a second day yesterday as waves of uncertainty surrounding the sector continued, despite a recovery across similar stocks in the US. The FTSE 100 dropped for the second day in a row, falling over 32 points to 6,590.69, hampered by the poor performance of tech stocks. The top tech [...]
Bottom Line: Online retailers still falling out of fashion April 8, 2014 ON MONDAY, investors panicked. Having had the weekend to mull over the losses that sent the Nasdaq 2.5 per cent lower last Friday, sellers piled out of anything that could be broadly considered a tech stock – from FTSE 100 chipmaker Arm to recent market entrant AO.com. Yesterday, they seemed to have calmed down a bit. While [...]
Small flotations get £2bn boost after lean years April 7, 2014 THE LAST 12 months have been the most active for initial public offerings (IPOs) on London’s junior stock market since 2007, with the amount of funds raised nearly tripling, according to UHY Hacker Young. Research released today shows that in the 12 months to the end of March, firms floating on the Alternative Investment Market [...]
Just Eat taps into huge demand from investors for £1.4bn float April 2, 2014 LONDON’s appetite for highly-valued technology stocks will be fully tested today as conditional trading begins in the shares of Just Eat, the online takeaway food group. Bankers to the share issue, the first on the London Stock Exchange’s high growth segment, closed the books last night and intimated the valuation for the group would be [...]
Stock stampede doubles amount of market floats April 2, 2014 STOCK market flotations around the world doubled last quarter, driven by a near record high in issuance across Europe despite a stall in M&A activity, fresh figures show. The boom in stock market issues means a $4.8bn (£2.9bn) windfall for investment banks around the world, due to fees rising by nearly a third compared to the [...]
Boohoo.com shares hit new low despite 62 per cent leap in sales March 31, 2014 SHARES in Boohoo.com fell briefly below their offer price yesterday for the first time since their market debut, despite the online fashion retailer reporting a jump in full-year revenues. The Manchester-based company had its first day of trading on 14 March and saw shares open at 85p – well above the offer price of 50p. [...]
Boohoo revenue soars 62pc March 31, 2014 Online fashion retailer Boohoo.com finished the year to 28 February with net revenues enjoying a year-on-year rise of 62 per cent to £109m, according to the company's year end trading update. Boohoo.com saw earnings before interest, taxes, depreciation and amortization for the period in line with expectations, increasing 200 per cent on the previous year. [...]
BlackRock gives new market darling Boohoo.com its vote of confidence March 24, 2014 THE WORLD’S largest money manager BlackRock yesterday joined hedge fund guru Crispin Odey in revealing itself as a major shareholder in online fashion retailer Boohoo. The US money manager, which was founded by chief executive Larry Fink, has taken 56m shares in the company, worth around five per cent of the business. It is a [...]
Bottom Line: Give up the fantasy and settle into real life March 18, 2014 INVESTORS love an excuse to panic. No sooner had Asos revealed yesterday that margins were likely to be squeezed this year as a result of slower sales and more investment, than shareholders had run screaming for the hills – wiping more than £1bn off the retailer in early trading. Fellow online players (and stock market [...]
Asos’ profits warning is crushing online retailers March 18, 2014 This morning, Asos chief Nick Robertson delivered the surprise warning that the company’s earnings margin will decline this year to around 6.5 per cent. Shares crashed over 20 per cent on the news. The reason given is that the store’s upping its investment in warehouses in Europe, along with its new venture in China, and [...]