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Gym Group raises outlook ahead of first-half results
Thursday 05 Sep 2024Low-cost gym operator Gym Group (GYM) looks to be in good shape ahead of its first-half results, due to be released 11 September. In a pre-close statement on 10 July the company raised its full-year profit expectations to the top end of market forecasts after continued positive trading. Company-...
Investors bet on Rolls-Royce recovery after engine trouble sparks sharp sell-off
Thursday 05 Sep 2024Aeronautical engineer Rolls-Royce (RR.) is not going to be caught up in a new crisis after airline Cathay Pacific (0293:HKG) found a fault with the engines used ’on its fleet of Airbus (AIR:EPA) A350 jets. This was the prevailing mood among investors and analysts as the dust settled on a late...
US non-farm payrolls in the spotlight after Jackson Hole speech
Thursday 05 Sep 2024Federal Reserve chair Jay Powell’s speech at the Jackson Hole symposium made it clear that the central bank believes its work is more or less done in taming inflation and the focus now is to keep the US labour market in rude health. The change of tone puts August’s non-farm payrolls data on 6...
Watkin Jones shares pummeled on cut to guidance
Thursday 29 Aug 2024Shares in Watkin Jones (WJG:AIM) , the UK’s leading for-rent developer and operator, sank 30% in a day last week after the firm cut its operating profit forecast for this year and warned profit next year would likely be even lower rather than rebounding. The group, which focuses mainly on student...
Beeks Financial Cloud scales new all-time high after record results and contract extension
Thursday 29 Aug 2024Shares in cloud computing, connectivity and analytics provider Beeks Financial Cloud (BKS:AIM) scaled a new all-time high of 282p after the firm announced (20 August) it had won a contract extension with the Johannesburg Stock Exchange. The latest advance takes the year-to-date gain for the stock...
Powell signals start of interest rates cuts at Jackson Hole
Thursday 29 Aug 2024With markets betting heavily the Federal Reserve would start cutting interest rates at its next meeting, chair Jerome Powell did not disappoint after delivering a dovish speech at the Jackson Hole symposium on 23 August. ‘The time has come for policy to adjust’ announced Powell, immediately sending...
Will UK shop price deflation open the door to a September rate cut from the Bank of England?
Thursday 29 Aug 2024UK shop prices experienced deflation for the first time in almost three years in August with a fall of 0.3%, according to the latest data from the monthly BRC-NIQ (British Retail Consortium-NielsenIQ Shop Price Index). The price deflation was driven by the non-food segment which came in at -1.5% in...
Temu parent PDD sends warning on Chinese consumers
Thursday 29 Aug 2024Missed second quarters expectations and soft growth guidance has sparked the biggest ever one-day sell-off in PDD Holdings (PDD:NASDAQ) , the parent of online shopping platforms Temu and Pinduoduo. ADR (American Depositary Receipts) in the company fell as much as 40% in intraday trading, eventually...
‘Spot The Dog’ survey shows sharp increase in poorly-performing UK funds
Thursday 22 Aug 2024It’s that time of year again when Evelyn Partners releases the summer edition of its ‘Spot The Dog’ report detailing the investment funds which continually deliver poor returns for their investors. As the authors point out, funds don’t make the list because their sectors are out of favour but...
Gooch & Housego outlook clouded by ‘prolonged’ customer de-stocking
Thursday 22 Aug 2024It has been a disappointing start to 2024 for luckless investors in specialist instrument and life-science device-maker Gooch & Housego (GHH) . The company’s share price dropped like a stone in mid-February when the Somerset-based manufacturer warned pre-tax profit for the year to September...