Hints and tips:
...Every sector of the S&P is up — industrials, consumer staples, et cetera, et cetera. There’s only a few sectors, in fact, that are only up modestly. Most sectors are up like 10 per cent....
...A new Big Read explains why UK businesses have such a poor record on productivity. Low investment and skills gaps are partly to blame, compounded by political instability....
...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....
...et al, with just $9bn on legacy oil and gas....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...Its share price has lagged other big tech rivals (Facebook, Microsoft, Apple and Amazon) and also the S&P 500 since hitting a record in mid-February....
...From the May 14 record low it’s up 140 per cent....
...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....
...These conditions mean an unprecedented availability of low cost capital – for companies with the right activity set....
...There’s not much precedent to support the idea that Shina et al can walk away based on a MAC clause: WPP was forced against its will to buy Tempus in 2001, Guy Hands couldn’t scrap a bid for East Surrey...
...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)....
...Shot: NMC Health plc (“NMC” or the “Company”) notes the recent media speculation and confirms that it has received highly preliminary approaches from Kohlberg Kravis Roberts & Co. L.P....
...Last year the company delivered sales of £78m in Q1 (which was a record quarter) and £70m in Q2....
...We value IAG at a P/B 2019 of 0.4x (as for AF-KLM / at a 20% discount to Lufthansa’s P/B multiple in the lows in 2009; IAG was formed in 2011)....
...L, until the final CMA decision, expected on 11 May....
...In deep value territory: Stocks are trading at 30-year absolute P/B lows and near relative 2008/09 lows (43). HEI and SGO screen as particularly cheap....
...That superb unblemished track record of EPS growth is now back on the cards....
...S&P Global Sector: FINANCIALS / HQ: NEW YORK, US Key stat: Investment-grade companies have issued more than $1tn of debt this year, a record....
...The Nasdaq has joined the S&P 500 in record territory....
...Deleveraging will be the story, just not quite yet as the same speed as Rio Tinto, Fortescue Metals, Newcrest Mining et al.”...
...a ‘U’ or ‘V’ shaped recovery,” said Jane Foley, senior currency strategist at Rabobank....
...Iron ore prices have staged a spectacular recovery since hitting record lows in December....
...For a company like Rural that is traded on a major exchange, ―[t]urnover measured by average weekly trading of . . . 1% would justify a substantial presumption‖ of market efficiency. 5 Bromberg et al., Bromberg...
...The result pushed the euro to an 11-year low....
...Then the real rate continued to fall after the 2008 crisis and recession, reaching the modern record low....
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