Hints and tips:
...British monarch, George V at the Empire Exhibition in London, and the first commemorative stamps being issued in Great Britain....
...Meanwhile, the S&P 500 posted a total return of 17 per cent in the first half of this year and the US Federal Reserve funds rate, a proxy for risk-free returns for investors, is 5.25 per cent....
...a free cooked meal. burberry.com; onsideyouthzones.org P is for Pink PonyRalph Lauren’s Pink Pony was set up in 2000 to ensure access to cancer treatment is available to everyone at an early stage....
...A study of healthcare workers in Manaus, Brazil, indicates that the Chinese-made CoronaVac vaccine is effective against the virulent P.1 Covid-19 variant, which emerged late last year....
...If there is a sense from this earnings season that confidence in a V-shaped recovery for profits is misplaced, then the impact will probably be hardest on companies with weak balance sheets, and on those...
...This group of companies accounts for about one-fifth of the S&P 500 by market capitalisation. The healthcare sector has also performed well, down only about 1 per cent since January 1....
...earnings-per-share of the constituents of the S&P 500....
...“We are spending a lot of time looking at healthcare,” she said. “One of the results of the virus is that hospitals and healthcare facilities are quite full, but people are deferring other procedures....
...potential V-shaped recovery....
...Cash has also flooded back into a V-shaped market recovery at a pace that is anything but glacial, or U-shaped in geographical terms....
...And true enough, a V-shaped recovery is expected in earnings over the next four quarters when looking at what analysts expect for the S&P 500....
...New York governor Andrew Cuomo has invited former Google chief executive Eric Schmidt to help lay out how to reopen the state....
...We just wiped out a year and a half of job growth,” said Martha Gimbel, a labour economist at Schmidt Futures....
...Idexx said in October that the animal health market had experienced a “V-shaped recovery”....
...From the guidance provided so far, its analysts have seen enough to hope for a V-shaped recovery resulting in a one-time hit of $6 per share to this year’s S&P 500 combined earnings, which would fall to...
...This is encouraging and if cases do rise again in a second wave, the healthcare system should be better prepared to respond, making another lockdown less likely....
...The importance of credit is underlined by Société Générale’s analysts, who peg a floor of 1,800 points and a cap of 2,600 for the S&P 500 index....
...“The prospect of a V-shaped recovery is absolutely zero,” said James Knightley, chief international economist with ING. “Getting 40m jobs returning in the next 12 months?...
...The S&P 500 sits in that zone and is nearly higher on a 12-month basis (add in dividends and the index is up)....
...Wall Street had its worst day in two years, declining 3.4 per cent, erasing the S&P 500’s gains for 2020. Implied S&P 500 volatility surged beyond 25, a level the Vix last frequented in late 2018....
...The Smirnoff maker is also donating 8m bottles of sanitiser to healthcare workers, hopefully with a prominent “do not drink” on the label....
...It will certainly require evidence of a V-shaped economic recovery to ignite demand for cyclical and value stocks....
...Valuation - Renault trades at c.4.2x 2021E P/E, a c.10% discount to its 3-year median....
...more of a primary event), UK P&C (~14% of premium), and then the multilines (~10%)....
...This puts the sector on a relative P/E premium of 29% on NTM+1 (Apr 21-Mar 22), 18.5x for Beverages vs 14.3x for the Market....
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