Hints and tips:
...Register to hear the FT’s Ben Hall, Chris Miller and guests discuss how and when the conflict might end. The UK’s winter of industrial unrest rumbles on....
...Through the sale of bracelets and pendants, the brand has raised more than $20mn to provide water, immunisations and educational tools to those in need. louisvuittonforunicef.com V is for Visual AidsAcne...
...V Vaccination Pretty much the only thing that stood between Novak Djokovic and this year’s Australian Open title. Oops....
...As Ms Tenreyro pointed out, a V is not always a V. A V in annual data can look like a U in monthly data, she said....
...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....
...Polymath 1,058: D Marsh, East Sussex, England Crossword 16,377: John Bevan, London; TF & JM Marshall, Scotland; Rae Seelig, London Polymath 1,057: Bridget Symeonides, Cyprus Crossword 16,371: Mr B Miller...
...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....
...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....
...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....
...On our new estimates, L’Oréal trades on an FY21E P/E of 32.6x, the highest premium versus the consumer staples sector for over 10 years....
...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...
...P&C outperformed into the corrections in the past 8 years....
...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)....
...Rate relief drops away in FY22 so the recovery profile, in EPS at least, is not V-shaped....
...Q4 2019 u/l PBT beat “rebased” consensus expectations by £111m (13%), though the outlook statement is somewhat sobering. ......
...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...
...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....
...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?...
...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....
...V is for V-shaped recovery — predicted after every fall. W is for wallet — the easy to remember sequence of 34 alphanumeric characters. X is for ex — what you'll call your better half in six months....
...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....
...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...L, until the final CMA decision, expected on 11 May....
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