Hints and tips:
...For example, iShares Automation & Robotics UCITS ETF (RBOT) and L&G Global Robotics and Automation UCITS ETF (ROBG) only have one holding out of their top 10 in common, despite both running to a global mandate...
...You could be forgiven for thinking Big Bird and his chums from Sesame Street had taken over the debate around how quickly the global economy can recover from the shock of coronavirus lockdowns....
...After surging prices in April — the biggest rise on the S&P 500 since 1987 — we are already well along the uphill slope of the V....
...If you are looking to predict the shape of the US economic recovery — be it V, W, L or even K — don’t look at the markets....
...If the economic trajectory does indeed look more like an “L” than a “V” or “U”, portfolios will need to combine recovery stocks with cash and lower-risk bonds as well....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...Weighing in at ~7,000 words and with 84 references, G4S’s Wiki “controversies surrounding . . .” rap sheet is longer than the ones for the Legion of Christ and Grand Theft Auto V, though not quite as long...
...It will certainly require evidence of a V-shaped economic recovery to ignite demand for cyclical and value stocks....
...Since 2016, we estimate the Kingfisher P&L has had an £81m transactional benefit from weaker sterling. FX could become a headwind once trade talks are agreed (or not)....
...the S&P 500 and their individual employees....
...Joanna Munro Global Chief investment officer at HSBC Global Asset Management Equities. What is your forecast range for the S&P 500 at the end of 2020?...
...It’d be dumb and meaningless to overlay the FTSE 100 onto a graph showing global coronavirus deaths....
...Rate relief drops away in FY22 so the recovery profile, in EPS at least, is not V-shaped....
...However, on metrics that smooth out investment, like P/E, BT looks very cheap, on 6x P/E (sector 15x). Our price target remains 130p....
...Stress testing balance sheets for GFC falls in EBITDA As we move into recession mode, incoming questions from investors have switched from a focus on the P&L to the balance sheet....
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...It gets straight to the point: We now assume an L-shaped RevPAR recovery (previously V-shaped), based on Jefdata consumer surveys, corporate guidance and industry forecasts. .....
...Q4 2019 u/l PBT beat “rebased” consensus expectations by £111m (13%), though the outlook statement is somewhat sobering. ......
...HSBC has some discussion about V and W shaped recoveries; its own model resembling “the Nike swoosh” is made by combining a proper V in mainland China forms and more of an L among Western European and American...
...What happens further down the P&L is largely a question of capital structure, but it appears most will be either loss-making or make only marginal PBT....
...With top-line beat flowing through the P&L, core op. profit was +8% vs cons and core EPS +12%. ¾ of the EBIT beat seems inventory related. Q: What were the most noteworthy areas in the results?...
...Based on company commentary so far, we still believe potential COVID-19 claims (including BI) are a manageable P&L event for the sector, although the devil will be in the detail when it comes to BI policy...
...L, until the final CMA decision, expected on 11 May....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...The bulls will point to a P/B below 1, FY21e EV/EBITDA of 4x and EFCF Yield of 8% as evidence of clear value....
International Edition