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Testing the support area again today. Will see what tomorrow will bring to the SP.
Hennes & Mauritz fell on weaker than expected profits and its chief executive departed Plus SAYE staff share scheme matured and probably some profit taking ahead of tomorrow. The staff have earned that-well done to them😁
I certainly don't agree that MKS is overbought.
Its just the macro and general low sentiment that's holding back the SP.
In my view all the market is undervalued in London at the moment.
Therefore, the solid best buys have to be companies such as MKS and WTB that are doing well despite the macro.
When the market does improve these will be the first to gain and they probably will go overbought quite quickly as share prices rise.
Carrington, all good points to which I agree with. I just feel the SP is in a state of flux at the moment. I think there will be some weakness short term and it will be driven by the macro rhetoric around inflation and interest rates. I will be 100% jumping back in when I feel the herd mentality comes roaring back. I put 50% of the M&S sales in Microsoft which I think will smash it again this year. The Copilot for 365, which was launched only in November, is going to be a massive game changer and MCST is ahead of the game. It will be interesting to see how that impacts the results tomorrow. The other 50% is just there floating in the water waiting for a bite from a lower M&S SP ;-)
1ontheup - never wrong to take a profit so well done - personally I am selling nothing and will be looking to add on weakness, - momentum now firmly with MKS - they have captured market share in womanswear which is significant - they have also decimated the Waitrose offering - momentum is all and they have it big time now - inflation is falling in the UK and mortgage interest rates are also falling rapidly, add to this the fall in petrol prices, gas prices and food prices and some stellar wage rises that have now gone through - disposable income in the MKS demographic will be higher and augers well for MKS going forward - if it drops below 240p I will be adding with a 350p target
gla dyor etc
Whilst I've done well with M&S shares I decided to bail out selling 80% Jan 11th & the balance the 16th. I still believe in M&S but I think last year was full of positive sentiment (results, return to FTSE 100, inflation dropping, talk of rate cuts, Xmas where M&S normally outperforms etc) which I don't think will all flow through into this one, at least not until the FY results come out. International, although small, made a loss in the Xmas trading update, citing India as problematic. They have been investing heavily there recently and it's worth noting that the MD resigned after less than 2 years in the role. I hope I'm wrong but I think there will be more negative sentiment in the markets after the Fed & BoE meetings this week with inflation still sticky whilst pushing back any talk of rate cuts. Therefore I'm a watcher at the moment but keen to jump back in at the right time (which I'll probably get wrong ;-)
No she will probably get a bonus for thinking it up
GLA
The news earlier this week that JLP had cut their redundancy remuneration package in half, just after a group of senior executives left the sinking ship, is followed today by the news that JLP is considering cutting 11,000 jobs out of a workforce of 76,000.
We shouldn't gloat but JLP with Waitrose is M&S's main competitor.
I wonder if Dame Sharon's redundancy package will be reduced by 50%?
I agree Costa. Highly likely that management won't be upset if a number of people walk out the door, a cheap way of dropping the headcount in head office. The issue I have with this is that it's often the best people that leave first - the dross never go as they hang on as long as possible. Still, let's hope the effect is minor enough that it doesn't impact the company performance.
I’d imagine that attendance to work for those that work from home has been greater than that of those that go in office, so what have thought that absentee days would increase as result of this. Also would think that free hours that people who work from home will now not be inclined to do so productivity would decrease. I suspect that other factors in play for this kind of decision making. Maybe a cunning ploy by the board to reduce headcount in the office without having to pay redundancy costs. Perhaps short term pain for long term gain
🤞
You could argue that post COVID the company have let their employees choose where they work, and during this time we have enjoyed our most successful period in decades. If I were the CEO I’d probably not change anything like this without strong proof it makes a positive difference.
The OP is surely an M&S employee, given no posting history anywhere. Let’s hope we don’t lose key people - and I don’t mean upper management, who are likely already in the office a lot, or at least paid well enough that they won’t mind. But the people in the middle actually making the business hum.
I do t have a lot of experience in this type of culture change, but have done some reading and I wouldn’t say it’s positive news. Also wouldn’t expect it to impact company performance over the short and medium term. Long term who knows!
And the truth of the post...It's not based on any facts..
Gove will soon be Gone, one battle lost but the war can still be won.
Agree, prob because they know that the battle with Michael Gove is lost and now needs to pay the extortionate rent to force people into the office for little added valu
Bit of a better day today. Ocado has push the SP up a bit.
IMO, dyor.
The working from home obsession is being phased out in most businesses
From March 1st , M&S will be insisting that all staff come into the office at least 3 days per week , in a bid to increase performance. They've shut a bunch of offices since COVID and hired more staff , so keep a close eye on company performance in the coming year. There will be a higher turnover of staff as everyone hired far from London will leave ect.
It's not based on any facts as there has been no evidence of increased performance when other firms have done this , but there has been a huge drop in employee satisfaction and staff retention. Those people who used to work extra hours will now be travelling , so very likely everybody will do less work once this starts. Interesting times
Price in support area, its loss would be a negative signal, but note the possibility of noise around the level. Today we need more bulls to come back in control.
At 4pm on a Friday I'll say it was venting ahead of the weekend, unless you'd been to the pub in which case it was a rant. 😉
In the current month, MKS has received 10 Buy Ratings, 5 Hold Ratings, and 0 Sell Ratings. MKS average Analyst price target in the past 3 months is 283.57p.
Here's to a good week. Gla
Overseas events aside, I do also think our own government is giving the impression of making it up as they go along whilst being so heavily reliant upon their mantra of "We are spending more on it now than ever before" (NHS / Police / Education et al) - which people are heartily sick of and no longer believe, largely because it so apparent that "it" clearly isn't working for the economy or us in our day to day lives. Looking across Westminster it is very hard to see where our next half-decent leader will come from to tackle so many of the issues. I say that when trying to envisage a "leader" who has the charisma and enough political savvy to genuinely unite a party around him / her in order to 'get a grip'. Decent as the two main party leaders may be, there are too many egoists working for themselves behind their scenes rather than for the good of the country. We need to put aside these egos, stop mistaking stubborness for national passion and sincerely look inwards in order to 'listen' rather than 'speak' for a change. We might also be wise to stop telling other countries how to live their lives whilst our own is in dire need of attention. THAT is one of the main reasons for the current direction of the FTSE and the fact that quality shares such as M&S do not currently appeal to overseas investors in the way they perhaps should - poor leadership with poor prospects, including from the BoE and its "leadership". Would you invest in a company that is being run like UK at present - or invest in it's component companies which are attempting to thrive in an economy of uncertainty? Apologies for the rant but I am angry and so sad to see what has happened to us in recent times especially. M&S is a great company and deserves better, just like the rest of us. But in the interim?...........,
P*k*stan JJ
not my ****.
****stan, another try. jj
****stan/ iran; palestine/israel; russia/ukraine; biden/trump; to name but a few. at any time one of these could lead to ww3. markets hate uncertainty. there is so much talk of increasing expenditure on the 'war machine'. the western leaders seem to think right is on their side when they will know from history that believing you have right/ god on your side is the sure fire way of having more wars. love and not war, jj
The macro is all over the place at the moment.
Since the new year we have had - fantastic results from the likes of M&S, Tesco and the discounters.
Higher inflation than expected - fuelling expectations that interest rates will stay high.
Contradictory retail sales figures - lower than expected sales fuelling expectations of interest rate cuts.
The net result is that share prices have tanked on sentiment - all VERY frustrating!