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...L’Oréal trades at twice the multiple of other businesses such as Unilever and Reckitt Benckiser, although these are lumbering beasts by comparison....
...The chief executive of L’Oréal, the world’s biggest beauty company, has predicted that price increases will slow this year after they helped to propel growth in the global beauty market for the past three...
...That would be well below L’Oréal on 20 times and below the 12 times that Coty and L’Occitane trade at. Spain’s largest IPO in years is so far looking good. andrew.whiffin@ft.com...
...Strategist Beata Manthey wrote: Our European ‘Super 7’ are cheaper than the US Mag 7, offer similarly attractive margins, and have underperformed the Mag 7 by 70 per cent since the start of ‘23, leaving...
...Also on a multiple of sales, L Catterton’s offer looks underwhelming — just 1.7 times this year’s revenues. For reference, the buyout group recently floated Birkenstock at 5.5 times sales....
...Goldman estimates that the median short interest in S&P 500 companies is still remarkably low at 1.7 per cent, but is up from 1.5 per cent at the end of 2021....
...“The median S&P 500 stock carries short interest equal to 1.7 per cent of market cap, well below the average of 2.2 per cent since 1995....
...If you take the Magnificent 7 out of the S&P 500, its multiple moves from 22 to 19. The S&P 350 is at 14....
...On that method, the Mag 7 trades at about a 20 per cent valuation premium to the rest of the index....
...But the French skincare giant, which trades on 23 times forward ebitda, is 10 times its size....
...The crunchy acronym was coined by Goldman Sachs for pharma companies GSK and Roche, Dutch chip company ASML, Switzerland’s Nestlé and Novartis, Danish drugmaker Novo Nordisk, France’s L’Oréal and LVMH, the...
...But reducing the cost of internal EU trade barriers by 10 per cent would boost the region’s long-term growth by 7 percentage points, it estimated....
...China’s imports from Russia grew 12.7 per cent in 2023. Yet such high growth rates are far from unusual in Chinese trade statistics....
...Berkshire bulls might object that the company has delivered slightly better performance than the S&P since 2019: 15.7 per cent annually to the S&P’s 14.1....
...You are also getting exposure to another 493 companies [in the S&P 500] that make up more than 70 per cent of the index by weight.”...
...That’s really problematic for the rest of us,” said John Duncan, co-lead for the Business Coalition for a Global Plastics Treaty, a group of more than 200 companies including Walmart, PepsiCo, and L’Oréal...
...The Mag 7 value trade Market pundits often talk about the Magnificent Seven big tech stocks as a homogeneous entity. This is a mistake....
...Clearing houses, which help settle trades, also operate within set hours....
...The KBW Nasdaq Fintech index is up 31 per cent over the past year, compared with a return of 25 per cent for the broader S&P 500....
...Local companies are nipping at the heels of global names such as L’Oréal, Estée Lauder and Shiseido in China, the world’s second-biggest beauty market by sales....
...Shepherdson argues that declining S&L tax revenue augurs poorly for future S&L spending, as this chart shows: It’s a reminder to investors that markets are sensitive to changes, not levels....
...The S&P Global/Cips UK construction purchasing managers’ index, a measure of the health of the industry, rose to 50.2 from 49.7 in February, the fourth consecutive month-on-month increase....
...But over the past 10 quarters, net interest expense (that is, interest expense less investment income) among S&P companies has been steady and the recent trend is, if anything, up....
...In a meeting with United Steelworkers union members in Pittsburgh on Wednesday, Biden will call on trade representative Katherine Tai to triple the tariff on the imports from the current average of 7.5 per...
...International sales of the fish last year rose 0.5 per cent to £581mn, with sales to Asia jumping 22 per cent and to the US by 7 per cent....
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