#FTSE 250

[kramlabs]

Previously: https://www.kramlabs.com/post/759354629331025920/divers-search-sicily-yacht-wreck-with-uk-tech-boss

[lboogie1906]

Tidjane Thiam (July 29, 1962) who was co-CEO of Credit Suisse, was born one of seven children into a politically prominent family in Abidjan, Ivory Coast. His father, Amadou Anna Thiam, was a journalist and former cabinet member in the government of President Félix Houphouët-Boigny, and his mother, Marietou Sow, was the president’s niece. He was the first in his nation to pass the examination to enter the prestigious Polytechnic University, graduating as valedictorian at the National School of Mines Paris. Earning an MBA at the European Institute of Business Administration.

He moved to DC to gain work experience in the Young Professionals Program sponsored by the World Bank and then rejoined McKinsey & Co. in Paris. He served in the cabinet of two Ivorian presidents as an economic and infrastructure adviser where he successfully pushed for privatization of public utilities and airports. He became a partner at McKinsey & Co. He worked at the British insurance company Aviva, where he rose to CEO. He became CEO of another multinational British insurer, Prudential plc, thus becoming the first African to have the distinction of heading a FTSE 100 company.

He resigned from Prudential plc to take the helm of Credit Suisse. He instituted a “radical three-year plan” to reorganize the firm which led to his being named Banker of the Year in by Euromoney magazine. A corporate spy scandal in which he was implicated led him to tender his resignation from Credit Suisse.

He launched New York-based Freedom Acquisition I, a special-purpose acquisition company after raising $250 million in an IPO. He became executive chairman and former Credit Suisse colleague Adam Gishen became CEO. They raised an additional $50 million for the IPO of their SPAC.

He was chairman of the High-Level Infrastructure Investment Panel. He has advocated for sustainable development as a member of the African Progress Panel and was elected to the International Olympic Committee. Fluent in three languages and a chevalier of the French Legion of Honor, he is a dual citizen of the Ivory Coast and France. He was married to Annette Anthony Thiam and they had two sons. #africanhistory365 #africanexcellence

[3acesnews]

A share price up 70%! Is this FTSE 250 stock still the bargain it once was?

[onlywaynews]

Фунт достиг двухлетнего максимума по отношению к евро - он также вырос по отношению к доллару. Во многих утренних новостях Великобритании была повторяющаяся тема: постоянные хорошие новости для путешественников из Великобритании в США и Европу, но если уметь считать, то фунт стерлингов покупает много долларов и евро, намного больше, чем обычно, доллары меньше покупают фунт. Сегодня, фунт достиг более чем двухлетнего максимума по отношению к евро, покупая 1,20 евро. В апреле 2022 года фунт стерлингов был силен против валюты 20 стран еврозоны. Фунт стерлингов также укрепился по отношению к доллару: 1 фунт стерлингов равен 1,3374 доллара, в последний раз этот показатель наблюдался в марте 2022 года. За последние несколько недель фунт стерлингов был поднят лучшими, чем ожидалось, прогнозами экономического роста и процентных ставок, а также политической стабильностью при новом правительстве. Доллар ослаб после более значительного, чем ожидалось, снижения процентной ставки, в то время как экономика еврозоны находится под давлением, поскольку Германия может вступить в рецессию, согласно последним данным по деловому доверию. Эталонный фондовый индекс Великобритании, индекс FTSE 100 самых дорогих компаний на Лондонской фондовой бирже, вырос на 0,27%, в то время как более крупный и базирующийся в Великобритании FTSE 250 упал на 0,01% Следите за всеми последними новостями в газете ONLYWAY.NEWS Instagram: @onlywaynews #onlywaynews Последние новости Великобритании на русском языке в британской газете ONLYWAY NEWS Pound reaches two-year high against euro - it's also up on the dollar in boost for British holidaymakers There's been a recurring theme in many of this morning's market updates: near constant good news for UK travellers to the US and Europe. Sterling has been buying a lot of dollars and euros, a good bit more than usual. That theme continues today as the pound has reached a more than two-year high against the euro, buying €1.20. The last time sterling was so strong against the currency of the 20 eurozone countries was April 2022. Pound strength was also seen against the dollar with £1 equal to $1.3374, a rate last seen in March 2022. Sterling has been boosted in the last day by a prediction from investment bank Goldman Sachs that the pound will reach $1.40 in a year, far higher than its previous $1.33 prediction. Over the past few weeks, sterling has been raised by better than expected economic growth and interest rate forecasts, and political stability with the new government. There's been dollar weakness following a larger than expected interest rate cut, while the eurozone economy is under pressure with Germany possibly entering recession, based on latest business confidence findings. Elsewhere, the oil price ticked upwards again to $75.70 for a barrel of Brent crude oil as a stimulus announcement raised the prospect of increased consumption and Israeli attacks on Lebanon increased Middle East tensions. The benchmark UK stock index, the FTSE 100 index of most valuable companies on the London Stock Exchange, was up 0.27%, while the larger and more UK based FTSE 250 fell 0.01%. Share link: ONLYWAY.NEWS Instagram: @onlywaynews #onlywaynews

[accapitalmarket]

Sterling claws higher after BoE holds rates, UK100 lower

UK stocks bounded higher on Thursday after the Bank of England (BoE), as widely expected, left the cost of borrowing unchanged at 5.0%.

The BoE’s Monetary Policy Committee, which cut interest rates for the first time in four years at its August meeting opted to leave them unchanged by a majority of 8 to 1 this time

UK GDP growth has stalled recently, with data last week showing the economy stagnating for the second consecutive month in July. Analysts had been expecting in a 0.2% uplift.

But data on Wednesday showed inflation holding steady at 2.2% in August, above the BoE's long-term 2% target, while core inflation and services inflation both accelerated.

The BoE rate decision came a day after the US Federal Reserve announced a 50-basis points rate cut. On Wednesday, US stocks were volatile, ending lower after an initial rally, but the bulls won out in early trading again on Thursday, with big gains for all the main indexes.

GBPUSD H1

On currency markets, the rate decisions saw sterling push 0.56% higher against the dollar at 1.3287. Meanwhile, against the euro, the pound was up 0.26% at 1.914.

At the stock market close in London, the blue-chip FTSE 100 was up 0.9% at 8,308, while the broader FTSE 250 index jumped 1.6% to 21,162.

Heavily weighted miners rallied as copper prices hit a two-month high on a weaker dollar, with Anglo American up 3.7% and Antofagasta ahead 4.6%.

Retailers were higher, with JD Sports up 4.6% and Primark owner AB Foods ahead 0.7%, boosted by positive sector news. Clothing retailer Next rose 4.4% as it once again upgraded annual earnings guidance after full price sales in the first six weeks of the second half of the year rose 6.9%, materially exceeded expectations.

UK100 H1

Online grocer and logistics group Ocado rose 2.1% after it upgraded its revenue guidance for Ocado Retail - its joint venture with Marks & Spencer following a strong third-quarter performance which saw retail revenues jump 15%. Marks & Spencer also gained 1.8% on the news.

Elsewhere, Bytes Technology advanced 7.8% as it said trading has remained strong since it updated the market at its annual meeting in July.

But Close Brothers fell 5.6% after revealing it has agreed to sell its wealth management arm for up to £200mln to funds managed by Oaktree Capital Management and as it released in-line full-year results.

Disclaimer:

The information contained in this market commentary is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions.

Trading margin forex and CFDs carries a high level of risk and may not be suitable for all investors. Investors could experience losses in excess of total deposits. You do not have ownership of the underlying assets. AC Capital Market (V) Ltd is the product issuer and distributor. Please read and consider our Product Disclosure Statement and Terms and Conditions, and fully understand the risks involved before deciding to acquire any of the financial products provided by us.

The content of this market commentary is owned by AC Capital Market (V) Ltd. Any illegal reproduction of this content will result in immediate legal action.

[thoughtlessarse]

The cooling towers of the giant Drax power station loom over rural North Yorkshire as a reminder of Britain’s grimy past – and as a beacon of its efforts to create a net zero economy by 2050. The power plant was once one of the largest coal-burners in Europe, and a lightning rod for campaigners against fossil fuels in the UK’s electricity system. Today, its owners claim to be the UK’s largest renewable energy power plant – burning 7m tonnes of biomass pellets a year to generate enough electricity that meets almost 4% of the UK’s power needs. But this power plant’s green revolution is not without its sceptics. Green groups and climate scientists insist Drax remains the largest single source of carbon emissions in the UK, and that its FTSE 250 owners should not have been allowed to claim billions of pounds in renewable energy subsidies – more than £7bn in bill-payer-backed subsidies since work began to convert it to run on biomass in 2012. The battle between the two camps has reignited as the government prepares to decide whether to extend a subsidy scheme that pays Drax about £500m a year from its 2027 deadline until the end of the decade. The uncertainty has fuelled calls for ministers to review the evidence presented on both sides of the debate. Here, we take a closer look at the claims, the counterclaims, and the science behind Britain’s multibillion-pound bet on biomass.

continue reading

[leprivatebanker]

Just Group raises profit outlook after surge in corporate pension deals

FTSE 250 life insurer to ‘substantially exceed’ earnings target this year

[indiaepost]

Economic challenges ahead of Britain's new Labour govt

 The ascension of the Labour government has injected rare impetus into Britain’s capital market. On Friday, the first day of the newly-elected Labour government, the domestically-focused FTSE 250 index rose by 0.86 per cent and the country’s 10-year bond yield dipped by 0.8 percentage points, reports Xinhua news agency. The GDP for the first quarter this year increased by 0.6 per cent, and the…

[3acesnews]

Is this FTSE 250 stock a delicious opportunity or one to avoid?

[petnews2day]

Pets at Home boss Peter Pritchard to step down

New Post has been published on https://petn.ws/UvZgM

Pets at Home boss Peter Pritchard to step down

Peter Pritchard plans to leave Pets at Home next year (Pets at Home) Peter Pritchard has announced plans to step down as the chief executive of FTSE 250 retailer Pets at Home next Summer. The chain said the boss will remain fully engaged in his role until late May to oversee the presentation of the […]

See full article at https://petn.ws/UvZgM #PetFinancialNews

[accapitalmarket]

ECB cuts again, USD lower on Fed cut expectations

UK stocks rallied Thursday on interest rate optimism amid expectations for a first Federal Reserve rate cut next week after the European Central Bank (ECB) made its second reduction of the current cycle, with a 25-basis point cut following its latest policy meeting.

New York indexes, however, were mixed following the strong late rally made on Wednesday after the headline US consumer price index (CPI) for August fell to its lowest level in more than three years, although core inflation did tick higher on the month.

Thursday’s US data saw seasonally adjusted producer prices rise 0.2% month-on-month in August, gaining 1.7% on an annualised basis, down from 2.1% in July. Economists had forecast a month-on-month gain of 0.1% for wholesale inflation and a year-on-year rate of increase of 1.8%. Core producer prices, however, were up 0.3% over the month, above the consensus forecast for a 0.2% increase.

The data still shows inflation falling in the US, despite the stubborn core numbers, and should encourage the Fed to sanction a moderate 25-basis point rate cut rather than the 50-basis point reduction some commentators had called for after recent weak payrolls data raised fears of a recession in the world’s biggest economy.

On currency markets, sterling rose 0.23% versus the US dollar to 1.3076, with the greenback weaker on the Fed rate cut expectations. Against the euro, the pound edged up 0.03% to 1.1847 reflecting the ECB move. The Bank of England is widely expected to hold rates steady at its meeting later this month.

At the stock market close in London, the blue-chip FTSE 100 index was up 0.6% at 8,240, while the broader FTSE 250 gained 0.8%, at 20,695, with both indexes hitting one-week highs.

Strength in heavyweight miners helped push the FTSE 100 higher, with Anglo American gaining 3.0% and Antofagasta adding 2.3% as copper prices increased. Meanwhile, a rise in the gold price lifted Fresnillo 3.7% higher and pushed Endeavour Mining ahead 2.8%.

Rate-sensitive housebuilders rose, with Barratt Developments up 2.5% following a much-better-than-expected RICS house price balance survey, which turned positive for the first time since October 2022, with a reading of +1% in August. That marked a significant improvement from the -18% recorded in July and smashed forecasts for a modest improvement to -14%.

Elsewhere, Diageo rose 3.0% after analysts at Bank of America raised their rating for the drinks giant to buy from neutral.

But Rentokil lost another 2.1% after the pest control and hygiene company plunged by 20% on Wednesday following a profit warning.

Away from blue chips, Trainline topped the FTSE 250 index gainers, up 9.2% after the rail ticketing platform upped its outlook and said it is performing ahead of expectations. NCC Group leaped 10.6% after the cyber security company raised its profit outlook.

On AIM, Marlowe added 5.8% after the provider of software and services for safety and regulatory compliance announced that it will demerge its occupational health division, Optima Health later this month.

But Fevertree Drinks dropped 11.6% amid lowered sales guidance as poor weather contributed to below-forecast first-half results for the mixers maker.

Disclaimer:

The information contained in this market commentary is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions.

Trading margin forex and CFDs carries a high level of risk and may not be suitable for all investors. Investors could experience losses in excess of total deposits. You do not have ownership of the underlying assets. AC Capital Market (V) Ltd is the product issuer and distributor. Please read and consider our Product Disclosure Statement and Terms and Conditions, and fully understand the risks involved before deciding to acquire any of the financial products provided by us.

The content of this market commentary is owned by AC Capital Market (V) Ltd. Any illegal reproduction of this content will result in immediate legal action.

[digitaltariq]

BUSINESS LIVE: Kingfisher outlook warning; Henry Boot eyes market enchancment; Mobico German rail hit

By Reside Commentary The FTSE 100 is down 0.4 per cent in afternoon buying and selling. Among the many corporations with studies and buying and selling updates right now are Kingfisher, Henry Boot, Mobico. Learn the Monday 25 March Enterprise Reside weblog beneath. > In case you are utilizing our app or a third-party web site click on right here to learn Enterprise Reside

Legoland proprietor says yearly gross sales soared to report excessive

(PA) - The proprietor of Legoland and Madame Tussauds has mentioned its yearly gross sales soared to a report excessive as extra guests flocked to city-centre sights and it launched new websites. Merlin Entertainments, which is likely one of the world's greatest operators of theme parks and sights, mentioned shopper urge for food for digitally immersive experiences was rising. The group revealed its whole revenues jumped by 8% to an all-time excessive of £2.1billion over 2023, in contrast with the earlier 12 months. About 62 million individuals visited sights - seven million greater than in 2022. Merlin makes most of its gross sales from Legoland Resorts, with gross sales edging up by 1% in contrast with the prior 12 months. Gross sales at its gateway sights jumped by practically 1 / 4 12 months on 12 months, which refers to its sights primarily based in busy cities and cities, equivalent to Sea Life, Madame Tussauds and the London Eye. This displays robust demand of worldwide tourism in cities with multiple web site, most notably in London the place practically 1 / 4 of all vacationers to town visited certainly one of its sights final 12 months, Merlin mentioned.

Direct Line shares droop after Belgian suitor Ageas walks away

Direct Line shares sank greater than 10 per cent on Monday as buyers reacted to Belgian suitor Ageas' determination to stroll away from its takeover efforts.

Direct Line shares high FTSE 350 risers

Prime 15 FTSE 350 risers are...

B&Q proprietor Kingfisher sees earnings dive 25%

Kingfisher's earnings slumped by 1 / 4 final 12 months amid subdued exercise within the house enchancment sector. B&Q's father or mother firm revealed adjusted pre-tax earnings declined by 25.1 per cent to £568.1million within the 12 months ending January following weaker leads to France and Poland.

Fairness launch lenders goal Gen X with new curiosity reimbursement offers

Fairness launch lenders are concentrating on debtors of their late 50s and 60s with new merchandise that might see them repay a few of the curiosity of their lifetime. Usually, debtors with a lifetime mortgage — the favored type of fairness launch — do not pay any curiosity or capital till their house is bought after they go into care, or it's repaid after they die.

Mobico flags £15m hit from German rail enterprise amid outcomes delay

Mobico as soon as once more lowered its annual revenue vary on Monday because the group flagged accounting points associated to its German rail enterprise. The group, which operates transport companies within the UK, North America, Europe, North Africa and the Center East, informed buyers that modifications to how the German transport sector determines value restoration ranges will end in successful of round £15million to its backside line..

Pubs are having to shut as early as 8pm on account of rising power payments

Pubs throughout Britain are having to shut as early as 8pm as they battle to take care of the cost of living disaster and skyrocketing power payments and a few pubs have even began closing on the quietest days to save cash. Going to the pub is likely one of the most, if not probably the most, in style pastime for Brits throughout the nation.

Market open: FTSE 100 flat; FTSE 250 down 0.5%

The FTSE 100 is flat in early buying and selling, supported by energy in oil giants, though sentiment is subdued as markets await one other key US inflation print due later within the week. UK shares ended larger final week, with the FTSE 100 index notching its highest shut in a 12 months as buyers cheered the Financial institution of England's and the U.S. Federal Reserve signalling rate of interest cuts this 12 months. Vitality shares lead sectoral positive aspects, up 0.6 per cent as crude costs climbed on considerations over tighter international provide led to by escalating conflicts within the Center East and between Russia and Ukraine. Shares of Kingfisher have slipped 1 per cent as the house enchancment retailer warned on the outlook, and mentioned current-year revenue would fall in need of analysts' expectations. The FTSE 250 is down 0.5 per cent, led by a ten.4 per cent fall in Mobico after the transport firm tempered the lower-end of its annual revenue outlook vary.

Kingfisher warns as 'customers shelve plans for DIY house enhancements'

Mark Crouch, analyst at funding platform eToro, mentioned: 'Kingfisher has revealed a regarding set of outcomes this morning. The multinational DIY retailer has issued what's now a 3rd revenue warning within the final six months, with customers shelving plans for DIY house enhancements, chipping away at Kingfishers' backside line. 'French and Polish areas of the enterprise have been noticeable underperformers in what continues to be a difficult interval for the retail sector. 'Efficiency within the UK and Eire did provide some reassurance for buyers, with B&Q, TradePoint and Screwfix all delivering modest gross sales and market share progress. A lot so, the DIY retailer is pushing forward with the growth of their Screwfix shops throughout all areas, in a bid to capitalise on the success of the favored model. 'Rate of interest cuts can't come quickly sufficient for Kingfisher who, just like the housing market, has discovered itself treading water and struggling to provide any progress. 'Whereas the enterprise has maintained optimistic cashflow and a gorgeous dividend, buyers will likely be all too conscious of the corporate's sliding earnings – which, ought to they proceed, will crank up strain on margins and jeopardise future returns.'

'Kingfisher remains to be very a lot in restore mode'

Susannah Streeter, head of cash and markets, Hargreaves Lansdown: 'B&Q proprietor 'Kingfisher remains to be very a lot in restore mode, with its efficiency broken by cost-of-living headwinds and a struggling housing market. It’s issued the third warning in six months in regards to the outlook for earnings, as they fell 25% for the complete 12 months. 'There had been hopes that with rates of interest eyed on the horizon, and UK home costs stabilising, that demand for DIY services and products would bounce again, however the firm says as a result of lag between home gross sales and renovation initiatives being inexperienced lit, restoration is additional on the horizon. 'The brilliant spot seems to be on-line gross sales, with the revamped market platform, additionally providing third occasion merchandise, serving to increase e-commerce gross sales within the UK and Iberia past expectations. 'Nonetheless, in France, subdued shopper confidence and a weak housing market continues to be a drag and it’s now trimming again flooring area for the Castorama chain whereas restructuring and modernising the shop community to compete with rivals like Leroy Merlin.’

Scrap stamp obligation on shares, says investing large Interactive Investor

One of many nation's greatest funding platforms has referred to as for a cross-party dedication to scrap stamp obligation on share buying and selling to spice up the Metropolis and wider financial system. Richard Wilson, the chief govt of Interactive Investor, urged the primary events to pledge to ditch the 'absurd' levy of their manifestos for the subsequent Basic Election.

Henry Boot eyes market enchancment

Property developer Henry Boot expects market situations to enhance this 12 months because the Financial institution of England begins its price reducing cycle. The group delivered full-year outcomes in keeping with expectations for 2023, with pre-tax earnings down 18 per cent beneath the prior 12 months, and maintained forecasts for the 12 months forward. 'Our deal with top quality land, business property improvement and housebuilding in prime areas meant that demand for our premium merchandise remained resilient and allowed Henry Boot to carry out comparatively nicely towards a backdrop of a slowing financial system, rising rates of interest, excessive inflation and reducing volumes in our key markets. 'Whereas constraining our capacity to deliver ahead developments in a single respect, the federal government's constant failure to make a lot wanted reforms to an more and more dysfunctional planning system does play to the strengths of our land promotion enterprise whereas serving to underpin demand from nationwide housebuilders, who're nonetheless actively buying prime strategic websites to shore up their future pipelines. 'This alongside some nicely timed improvement disposals and Stonebridge Houses growing home gross sales by 43%, helped ship a resilient efficiency. 'We're not immune from the challenges that the UK financial system presents to the near-term buying and selling setting and as beforehand reported, we count on a lag in efficiency within the 12 months forward. 'Nonetheless, the outlook for each inflation and rates of interest is enhancing and it is starting to really feel as if the UK financial system has turned a nook, with current reductions in mortgage charges additionally pointing in direction of a hopefully brighter future.'

Mobico flags German rail hit

Nationwide Specific proprietor Mobico has lowered the lower-end of its annual revenue outlook vary by about 9 per cent, because the British transport firm flagged some accounting points associated to its German rail enterprise. The corporate, which final month delayed its annual outcomes citing the accounting evaluation, forecast adjusted working revenue for the 12 months will likely be within the vary of £160million to £175million, in contrast with its earlier expectations of £175million to £185million.

Chinese language battery large may pump billions into constructing Britain's greatest gigafactory

A Chinese language battery large may pump billions into constructing Britain's greatest gigafactory. EVE Vitality is in superior talks to construct a hub to make batteries for electrical autos (EVs) at Coventry airport. It should decide to investing at the very least £1.2billion right into a 20 gigawatt-hour manufacturing facility, based on The Sunday Instances.

Kingfisher outlook warning

B&Q proprietor Kingfisher has issued an outlook warning once more, as the house enchancment retailer mentioned it could fall in need of analysts expectations after incomes dropped 25 per cent final 12 months. The group, which additionally owns Screwfix in Britain and Castorama and Brico Depot in France and different markets, mentioned it was cautious on the general market outlook due to the time lag between enhancing housing demand and residential enchancment demand. It forecast an adjusted pretax revenue for 2024-25 of £490million to £550million, beneath market expectations of £560million. Read the full article

[head-post]

London stocks fall as investors await new data, Rolls-Royce shares rise

Britain’s FTSE 100 index fell on Tuesday amid a broad-based sell-off as investors await the release of a range of global economic data due later this week, while Rolls-Royce shares rose after the engineering company forecast profitability growth, Reuters reports.

The domestic-focused FTSE 250 midcap index (.FTMC) was down 0.6 per cent. The exporter-focused FTSE 100 index (.FTSE) fell 0.6 per cent to a two-week low for the day. Among the FTSE 350’s major sectors, the personal consumption goods sector (.FTNMX402040) led the way, while Burberry Group (BRBY.L) fell 2.7 per cent after HSBC lowered its target share price. Andrew Jones, portfolio manager at Janus Henderson Investors, said:

It’s worth reminding ourselves that (for) the last couple of weeks, markets have been quite strong with the expectation that inflation’s finally starting to come off in most places. Rather than being any specifically negative news coming out… (its) a bit of a pause having had (that) rally.

Read more HERE