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Elon Musk’s stock sale could force tracker funds to buy more Tesla shares
Thursday 11 Nov 2021Elon Musk’s pledge to sell 10% of his Tesla shares following his controversial Twitter poll could force US tracker funds to buy more stock because of the way they calculate index stock weightings. In the UK, tracker funds work out how much of each FTSE index constituent they should own based on a...
Pfizer breakthrough could see travel stocks finally play catch-up
Thursday 11 Nov 2021The end of the pandemic could finally be in sight after US pharmaceutical giant Pfizer said its Covid-19 oral antiviral pill Paxlovid could be a ‘game changer’ that reduced the risk of hospitalisations and death by 89% in high-risk patients. Add that to the existing mass-market vaccines and the...
Primark eyes US expansion as part of broader growth plan
Thursday 11 Nov 2021Shares in Associated British Foods ( ABF ) rallied strongly on better-than-expected full-year results (9 Nov) and news the foods-to-fashion conglomerate will pay a 13.8p special dividend and seek to buy back shares under a new capital allocation framework. Yet the real excitement surrounded the...
Tech giants Apple and Amazon facing crucial Christmas pinch
Thursday 04 Nov 2021Supply chain woes and rising costs have put investors on alert for a Christmas run-in revenue squeeze for two of the world’s biggest companies. Microchip shortages cost Apple $6 billion in sales in its fiscal fourth quarter to 30 September 2021, which missed Wall Street expectations, and chief...
Third Point posts near-30% returns and reveals Royal Dutch holding
Thursday 04 Nov 2021The latest investor letter from Third Point Offshore Investors ( TPOU ) , showed the activist fund made a 12.5% return in the quarter to September, taking its nine-month gain to 29.5% against 13.4% for the MSCI Total Return World Index. The firm’s biggest gains in the third quarter came from US ‘...
Stocks which could benefit from COP26
Thursday 04 Nov 2021Politicians are known for expressing well intentioned platitudes regarding climate change but failing to deliver action as climate change activist Greta Thunberg has so often highlighted. Ahead of the 26th climate conference in Glasgow which got underway on 31 October, investors seem as sceptical...
Is there substance behind Facebook’s rebranding as Meta?
Thursday 04 Nov 2021Market observers are questioning the motivation behind Facebook’s decision to rebrand as Meta Platforms. The more cynical commentators have suggested that the rebranding exercise is little more than an attempt to distract the market from increasing regulatory criticism. Specific accusations relate...
Greggs claims £100 million from Swiss insurer for ‘business interruption’
Thursday 04 Nov 2021Food-to-go retailer Greggs ( GRG ) has filed a £100 million legal claim against Swiss insurance giant Zurich for losses it incurred while its stores were closed during the pandemic. The company argues it is due the money as compensation for ‘business interruption’ under the terms of its insurance...
Pubs raise a glass to rates and duty cuts in Budget
Thursday 28 Oct 2021Hard-pressed pubs and the wider hospitality sector were among the main winners from chancellor Rishi Sunak’s third budget as they were served up some notable giveaways. The wider market had a pretty muted reaction to the statement which contained relatively few surprises after several key items...
Hydrogen to return to the spotlight at climate summit
Thursday 28 Oct 2021With the world’s focus turning to climate matters at the COP26 summit in Glasgow next week, the topic of hydrogen is likely to resurface after a period of relative quiet. Hydrogen’s potential to replace natural gas as a low-carbon fuel has long been touted as part of the race to net zero emissions...