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Main shareholder JAB Holding seeks to shake up business after period of sustained share price underperformance
...But the gap between the stronger services sector and the struggling manufacturing industry is widening....
...The S&P Global UK manufacturing purchasing managers’ index rose to a 20-month high of 50.3, up from 47.5 in February and above the earlier estimate of 49.9....
...The downturn in the eurozone’s struggling economy is easing, according to a closely tracked business survey, which found a stabilisation of activity at services companies offset a steep decline in manufacturing...
...Bond prices rallied, sending yields lower, after manufacturing figures were weaker than forecast....
...If you take the Magnificent 7 out of the S&P 500, its multiple moves from 22 to 19. The S&P 350 is at 14....
...The head of F1’s governing body told the FT last week it was “damaging the sport”....
...The S&P Global UK manufacturing purchasing managers’ index rose to a 20-month high of 50.3 in March, up from 47.5 in February and above the flash reading of 49.9....
...Chris Williamson, chief business economist at S&P Global Market Intelligence, said the UK’s recovery “continued to gain momentum” as improved growth in the services sector offset a renewed downturn in manufacturing...
...M&S’s contract with HSBC, which owns M&S Bank, is up for renewal. M&S is likely to push for more control and a bigger cut of the spoils....
...For a stock that is expected to increase earnings below the S&P 500’s average pace this year and next, that’s still a lot....
...Since closing the IHS deal, S&P’s share price is up about 13 per cent, slightly lagging its benchmark S&P 500 index....
...S&P said growth in the UK services sector was “quicker than that seen in the manufacturing sector, despite losing momentum in March”....
...M&S is in the best place it has been for many years operationally and financially.”...
...Year-to-date things are looking only slightly better, with US equity long/short hedge funds trailing the S&P 500’s continued surge by about one percentage point. That’s all fine....
...No global financial crisis putting the foundations of the industry at risk. Their low key M&A strategy also helps. Acquisitions, if they happen at all, are of the small, bolt-on variety....
US consumers’ changing habits in response to high prices takes toll on demand
...Growth in the eurozone’s services sector offset weakness in manufacturing to lift S&P Global’s monthly gauge of corporate activity to its highest level for almost a year....
...S&P Global’s flash eurozone composite purchasing managers’ index rose to an eight-month high of 48.9, up from 47.9 a month earlier. Economists polled by Reuters had forecast a smaller rise to 48.5....
...The moves came after S&P Global’s flash purchasing managers’ index for manufacturing fell to 49.9 in April, down from 51.9 in March and below economists’ forecast for a slight rise to 52....
...For anyone interested, here are the top 20: As you can see, the only three outliers from the MSCI/FTSE Russell/S&PDJI industry stranglehold are the Nasdaq, the Center for Research in Security Prices — only...
...Jeffrey S Merrifield is a former Commissioner of the US Nuclear Regulatory Commission (1998-2007), leads the nuclear practice at Pillsbury Law Firm, and chairs the US Nuclear Industry Council When I started...
...Figures published this month showed that UK gross domestic product grew for a second consecutive month in February, driven by an expansion in manufacturing....
...The stock has gained nearly 40 per cent over the past 12 months, outpacing the S&P 500’s 20 per cent rise....
...10-year plan, known as the National Biodiversity Economy Strategy, envisages particular financial benefits for Black communities historically excluded from the white-dominated wildlife and conservation industries...
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