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Chinese government proposes state ‘rescue’ of unsold properties
Thursday 23 May 2024In the latest twist in China’s long, drawn-out property crisis, which has seen giant developers such as Evergrande (3333:HKG) and Country Garden (2007:HKG) fall into liquidation, Beijing has relaxed mortgage rules and urged local councils to buy up unsold homes in order to bolster consumer...
Is the airline sector facing a turbulent summer?
Thursday 23 May 2024News last week that EasyJet’s (EZJ) chief executive of seven years Johan Lundgren was to step down in early 2025 clearly rattled investors, sending the budget airline’s shares down more than 5% on the day. Lundgren’s decision to fly the coop was all the more surprising given it came the same day...
Keywords Studios on brink of leaving the market as private equity strikes again
Thursday 23 May 2024Neglected, unloved, UK-listed companies are increasingly attracting overseas takeover interest. Rather like the proverbial 29 bus, from a dearth of bid interest a few months ago there has been a flurry of activity in recent weeks. Data from Dealogic shows the value of UK takeover bids in 2024 is $...
Troubles at Coral and Ladbrokes owner Entain spark break-up talk
Thursday 23 May 2024Sports betting and gambling firm Entain (ENT) has seen its shares halve over the last year and recently plumb new 12-month lows just as the FTSE 100 is hitting new highs. This poor showing reflects a combination of factors including weak operational performance, regulatory headwinds and a lack of...
Future shares skyrocket as publishing firm hails ‘return to organic growth’
Thursday 23 May 2024Shares in Future (FUTR) have been doing rather well since April after the publishing firm hailed a ‘return to organic growth’ in the second quarter. Over the past month shares are up 56%, and last week they leapt 22% to within a whisker of their 12-month highs. In a trading statement for the half...
ITV up 30% as streaming platform proves its worth
Thursday 16 May 2024Shares in ITV (ITV) have advanced nearly 30% over the past six months as the free-to-air broadcaster has found success with its on-demand streaming service ITVX. Total streaming hours were up 16% in the first quarter and digital advertising revenues grew by 14%. The company said ITVX’s monthly...
UK IPO market hots-up after Shein accelerates plans for London listing
Thursday 16 May 2024Companies tend to list on the stock market when conditions look ripe for a healthy reception from investors so as to get a deal away at the best price. After a fallow period for IPOs (initial public offerings) in 2022/23, activity appears to be gathering pace buoyed by the FTSE 100 and FTSE All-...
UK takeovers and premiums back to record levels of 2018
Thursday 16 May 2024One of the factors undoubtedly helping lift the UK stock market to new highs this year is an upturn in M&A (merger and acquisition) activity. According to Dealogic, the value of UK takeovers so far in 2024 is more than $78 billion, the highest level since 2018, as overseas buyers in particular...
Intel dealt Huawei blow by US government
Thursday 16 May 2024This year has been a struggle for Intel (INTC:NASDAQ) – investors don’t seem to be buying the optimism the chip firm has spun around its PC and data centre business, while it has thus far failed miserably when it comes to convincing the market it hasn’t missed the AI (artificial intelligence) boat...
Bruised Palo Alto investors praying for improvement
Thursday 16 May 2024Investors got seriously spooked back in February 2024 when Palo Alto Networks (PANW:NASDAQ) lowered revenue and billings guidance for fiscal year 2024 (to 31 May), causing analysts to lower forecasts and price targets. Palo Alto stock tanked, losing nearly 30% in a day, a savage reckoning after...