Hints and tips:
...Analyst Jefferies said it was “too early to read too much into post-Christmas trading” but still rates the stock a buy. We agree....
...Berkeley’s update comes after large housebuilders Persimmon and Taylor Wimpey both flagged easing build costs last month....
...“Alibaba is their only liquid asset, they don’t have any other large liquid assets,” said Atul Goyal, an analyst at Jefferies....
...“Investors were expecting a clean set of numbers . . . and we do not have that today”, said Joseph Dickerson, an analyst at Jefferies....
...Jonathan Hausman will take on a newly created role as chief strategy officer and all three will report to president and chief executive Jo Taylor....
...Financial markets closed UK: monthly KPMG and REC Jobs Report US: monthly consumer credit data Results: Jefferies Q4 Tuesday World Bank’s Global Economic Prospects report is published EU: November...
...Jefferies and UBS declined to comment....
...Additional reporting by Taylor Nicole Rogers and Colby Smith in New York...
...“I think it’s fair to say the market is pricing in too many rate hikes for the BoE,” said Lyn Graham-Taylor, a senior rates strategist at Rabobank....
...Jeremy Taylor, who heads Lazard Asset Management’s UK-based business, added: “What does an asset manager do as revenues go down?...
...Taylor added that the company still planned to invest prudently in acquiring new businesses: “The question is, where do we source that debt from?”...
...Rivals like Taylor Wimpey and Persimmon are also down between 50 and 60 per cent this year....
...The likes of Bellway, Redrow and Taylor Wimpey all trade at big discounts to their net asset valuations....
...“This isn’t really a game changer for the market,” said Lyn Graham-Taylor, a rates strategist at Rabobank....
...The funds team at investment bank Jefferies have been running their slide rule over the two fleets and reckon both might be worth substantially more than is stated....
...HOLD: Burberry (BRBY) Lockdowns in China continue to weigh on sales of luxury trenchcoats, writes Madeleine Taylor....
...BUY: Smart Metering Systems (SMS) The order book for smart meters rose by 25 per cent to 2.55mn in 2021 as SMS increased its dividend by 10 per cent, writes Madeleine Taylor....
...Jefferies analyst Giacomo Romeo called the December quarter numbers a “strong delivery on all fronts”....
...Aaron Chandrasakaran, Citigroup’s head of Hong Kong investment banking, is leaving to join Jefferies Financial Group, per Bloomberg....
...Last week Samsung announced the US city of Taylor as the location for its most advanced semiconductor facility....
...Job moves Taylor Wimpey’s chief executive, Pete Redfern, is stepping down after more than 14 years running the housebuilder....
...Additional reporting by Kate Duguid and Taylor Nicole Rogers in New York...
...Aneta Markowska, chief economist at Jefferies, argues that a “structural decline in labour supply, coupled with unprecedented labour demand . . . will create the tightest labour market conditions in decades...
...The combined group’s annual revenues are roughly $11bn, and its adjusted earnings about $5.3bn, according to Jefferies....
...Ascena Retail, the womenswear group behind Ann Taylor, has said it is evaluating “all options” to safeguard its business as it grapples with a $1.3bn term-loan burden....
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