Hints and tips:
...Chart of the week The S&P 500 index, which measures the performance of US blue-chip stocks and sets the tone for investors around the world, is on track for one of its best half-years in two decades....
...But he nonetheless compared recent events to the 1980s savings and loan crisis, when more than 1,000 lenders collapsed....
...coffers to guarantee loans from private companies....
...Will investors be as excited about those? Kate DuguidThese earnings from banks?...
...UK national statistician Ian Diamond can even see a cliff edge in the form of an “L”. But stock market commentators have started using the language of psychiatrists....
...Investors remain wary Investors remain sceptical....
...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....
...Income investors should currently favour utilities, telecoms and health care.”...
...Do you know your swoosh from your L-shape? Only one in 10 fund managers expects the kind of rapid US economic recovery illustrated by a V-shaped graph....
...Equity markets thus have recovered appropriately, with the S&P 500 up 35 per cent from its March lows....
...P&C outperformed into the corrections in the past 8 years....
...The shares of Town Sports have more than halved this year, and the gym operator is also facing pressure given it has a $178m loan due in November....
...Idexx said in October that the animal health market had experienced a “V-shaped recovery”....
...“China’s economic trajectory will be “L-shaped”, rather than “U-shaped”, and definitely not “V-shaped....
...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, 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?...
...Will Wallis at Numis can give us the detail of the strategy review: We summarise the outcome as a focus on self-help, requiring upfront P&L investment....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...Our last published fair value of 440p (29% upside) is equivalent to a P/TNAV multiple of 0.79x....
...FY19 results last week also indicated that 2H19 saw a – frankly – VAST uptick in NGP investment through the P&L. BAT invested an incremental £700m+ in NGPs in 2019, of which ~£600m came in 2H19....
...K&L Gates has added David Owen as counsel to its asset management and investment funds practice. Owen joins from Allianz Global Investors....
...The loan collateral pledge of 392m shares -- slightly more than 56 per cent of the total!...
...L’Oréal Sector: cosmetics / HQ: Paris, France Key stat: Online sales jumped 53 per cent in the first quarter....
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