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Admiral raises forecasts and dividends despite lower insurance rates
Thursday 15 Jul 2021Given the downward trend in insurance premiums this year, car and van insurer Admiral ( ADM ) surprised the market on 12 July when it raised its half-year earnings and dividend guidance, sending its shares to an all-time high. Research group Consumer Intelligence says there has been a downward...
Pullback in hydrogen shares hasn’t deterred new fund launch
Thursday 08 Jul 2021A hydrogen-themed investment trust planning to launch on the UK stock market will hope it has a better debut than another hydrogen investment product which launched earlier this year. Exchange-traded fund L&G Hydrogen Economy ( HTWG ) floated on the London market in February and has since...
Why Ocado’s latest deal is more important than you might think
Thursday 08 Jul 2021First-half results from online groceries business Ocado ( OCDO ) on 6 July are arguably less relevant than the company’s latest deal – a partnership with Spanish supermarket chain Auchan Retail for its Alcampo brand. One reason why Ocado shares had stalled in 2021 after a strong run in 2020 was the...
Robinhood heads for the US stock market: key points to know
Thursday 08 Jul 2021On 1 July US-based free stock trading app Robinhood released its prospectus ahead of a planned stock market listing on the US Nasdaq exchange, laying bare the underlying fundamentals of the business. Robinhood was valued at $11.7 billion in last September’s funding round, and reports suggest it is...
Morrisons bid battle could raise grocery sector valuations
Thursday 08 Jul 2021A bidding war for the UK’s fourth-largest grocery chain WM Morrison ( MRW ) has put the spotlight on the food retail sector and pushed up valuations of other companies in the space. Investors have taken the view that supermarkets and other food retail-related businesses should be worth more if...
Private equity may have a mixed reputation but returns have been good
Thursday 01 Jul 2021Private equity firms aren’t always viewed in the best light by investors. They are often considered to be tight when it comes to paying a fair price for a business, and then they load these companies with debt and deprive them of investment. However, it would be wrong to say all private equity...
Are UK companies being taken over on the cheap?
Thursday 01 Jul 2021On 29 June private equity firm Clayton, Dubilier & Rice increased its offer for pharmaceutical firm UDG Healthcare ( UDG ) by 5.5% to £10.80, valuing the company at £2.93 billion, including debts. The new higher price represents a premium of 28.3% to the pre-bid closing price on 11 May 2021...
Activist manager Crystal Amber targeted by another activist
Thursday 01 Jul 2021It’s not often you see an activist investor target another activist for poor performance but that’s what happening at Crystal Amber Fund ( CRS:AIM ). On 25 June Crystal Amber revealed that Saba Capital Management, its largest shareholder holding over 25% of its shares, intended to vote against the...
Was JD Sports’ Nike-driven jump justified?
Thursday 01 Jul 2021Shares in trainers-to-tracksuits seller JD Sports Fashion ( JD. ) rallied on a positive read-across following forecast-beating fourth quarter results from US sportswear giant Nike on 24 June. JD Sports has built its success on close ties with Nike and other powerhouse sportswear brands, so...
Housing market could lose steam as stamp duty holiday is tapered
Thursday 01 Jul 2021The Government’s holiday on stamp duty payable on house purchases is starting to be wound down, which could have a major impact on shares related to housebuilding, estate agency, DIY retail and conveyancing. From 1 July, the rate above which the tax becomes payable in England and Northern Ireland...