Hints and tips:
...Mid-sized managers like Abrdn have found themselves trapped between behemoths like BlackRock and Vanguard, and smaller specialist boutiques....
...The pain is only starting to set in....
...The over-50s market specialist slashed its profit guidance by two-fifths as a result of the rising cost of motoring claims on Tuesday. Shares lost up to a quarter in response....
...By my count Chrysalis had only £69mn in cash before a recent top up to its Starling investment, while Molten has reported £28.5mn at PLC level in cash....
...“There’ll be a fair amount of pain, we just don’t know exactly where it’s going to come,” said one gambling industry executive....
...But with global stocks plunging to a two-year low and predictions of further pain as central banks tighten monetary policy, hedge funds appear to have found a geared play on further equity market pain....
...HOLD: Michelmersh Brick (MBH) The specialist brick maker’s order book for the second half is forecast to be 40 per cent higher than 2019, writes Michael Fahy....
...Soaring energy prices, rising bills and spiralling inflation; householders all over the UK are feeling the pain of the escalating cost of living....
...True, PMI sees opportunities to use inhaler technology to deliver cardiovascular or pain management drugs, or indeed other consumer products....
...Blood specialists have been perplexed by the constellation of clotting conditions observed in the mostly young people who have had the AstraZeneca shot....
...Though it persisted for several days, she put the pain down to a migraine. Then on March 29, her husband Peter, a retired doctor, came home and found her in a coma....
...Its large domestic market at least offers operators a cushion not available to European long-haul specialists....
...Such has been the economic pain that even the rising tide brought about by positive vaccine news will not — as we have already seen — lift all boats....
...Yet FTSE 100 rental specialist Ashtead seems to have done just that. The £15bn group reported a revenue drop of just 5 per cent....
...“Generic, large-volume outsourcers without a strong specialist focus will really struggle,” said Michael Donnelly at Investec....
...The extent of the pain is almost impossible to gauge. While banks spell out how sensitive they are to rate changes, those calculations generally assume rates are positive....
...The pain is only heightened when comparing its returns to the US’s small and mid-cap index, the Russell 2000, which is down just 7 per cent....
...The first specialist brought in to help reform the group’s culture left after just 12 months....
...Worse, those dismal index-level statistics mask how acute the pain has been at specific oil and gas companies that were darlings of distressed debt specialists....
...Joint CEO set-ups are unpopular with investors and governance specialists, not least because of the doubling of big pay packets and the potential for clashes at the top....
...But not Greybull, the self-styled corporate turnround specialist that has owned British Steel since buying it for £1 from Tata of India in 2016....
...Much of ConvaTec’s pain is self-inflicted....
...N Brown said on Thursday that it has begun a review of whether it should close all of its 20 stores as the high street gloom hits foot traffic at the specialist retailer....
...A public to private deal would end their pain. Relations have long been uneasy with Mr Marks, who founded the group in 1972 two decades before coining the FCUK slogan....
...Integrating specialist advertising firms together may also be trickier than Sir Martin expects....
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