Hints and tips:
...Francis Breedon, professor at Queen Mary University London and Scottish Fiscal Commission: As a member of the Scottish Fiscal Commission whose forecasts were recently published alongside the Scottish budget...
...In December, JPMorgan Chase agreed to pay $200mn in fines to the US Securities and Exchange Commission and the Commodity Futures Trading Commission for failing to keep records of staff communications on...
...Morten O. Ravn: Inflationary pressures so far continue to be significant in the UK despite commodity price inflation coming down....
...I’m the FT’s new(ish) banking and fintech reporter, a role in which I’ll be covering topics ranging from “buy now, pay later” and the future of cash to stablecoins and green fintech....
...They’re both spawning grounds for opinion as fact -- “newspapers dug their own grave by not adopting micropayments”, “M&S lost Middle England the day it introduced the vegan Percy”, that kind of thing --...
...question on the M&A front following the decision to exit milkrite I InterPuls in July for £180m....
...RBC Fundamental View: Frasers has a strong position in UK mass market sports retailing and has freehold asset backing (c.£1bn), plus a now c.£200mn stake in Hugo Boss....
...Looking at recovered 2021 PE still delivers relatively limited upside v recent history for most names. And RBC are sellers of Rightmove....
...· M&S has outlined c£500m of planned cost reductions – including £172m of business rates relief. This is material in the context of a c£3.2bn cost base....
...The news forces M&S into issuing an unscheduled trading update and -- it’s okay?...
...Online sports betting activity levels were back to pre-Covid-19 levels and online gaming was trading strongly by the time of the July trading statement, and all retail premises had reopened....
...o “Our strong trading performance in the B&M UK stores in the initial 8 weeks of the new financial year was boosted in particular by our Gardening and DIY categories as announced on 29 May....
...Suggests that perhaps the share price of S&U shouldn’t be drifting as low as it has. For Provident itself, it’s a positive among a world of pain and the recovery could be slow and drawn out....
...And, needless to say, Gilead is marked about 4 per cent higher in (notoriously thin) US pre-market trading. 1.00pm - Plus500’s getting tonked on what looks like an okay trading update from the financial...
...Helpful, then, that Halfords is the market leader in bicycle sales (c.25% market share) and PACs (c.15%)....
...In recent weeks Next has been trading on its biggest ever valuation premium to both Kingfisher and M&S....
...M&S first ......
...Faster Value Shift in a tough economic outlook should continue to squeeze M&S and benefit B&M, our top value play with no obvious ESG issues....
...If the bondholders call in their debt, M&B could sell some of its 1,356 securitised pubs (last valued at c£4bn) to pay off c£1.7bn of notes and c£0.3bn of MTM swaps....
...Although 2020 outlooks remain withdrawn, against year-to-date trading, we remain comfortable with our forecasts for c.40% volume declines in 2020, recovering to c.85% of 2019 levels in 2021 (Forterra has...
...Much further down the market, there’s M&AAA....
...As opposed to those with limited exposure like MRW and ASDA. MKS seems to be trading somewhere in between the two groupings....
...Fever - having a good C-19. We have previously highlighted that Fever is having a good C-19....
...Elsewhere in sellside, RBC Capital Markets does some fantasy M&A on Centamin: Our view: New CEO and board appointments will likely increase focus on improving operations at Sukari and lower the risk of...
...GILD shares were up 8% in pre-market trading (now +3% vs S&P 500 2%), and as we have noted, remdesivir doesn’t really add much to our DCF....
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