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Sunday share tips: Provident Financial, Jimmy Choo

Sun, 09th Oct 2016 16:22

(ShareCast News) - The top brass at Provident Financial did nicely for themselves in the wake of Brexit, picking up stock in the doorstep lender on the cheap.Chief Peter Crook, Vanquis bank president Chris Sweeney and corporate affairs boss Nick Boakes bought into the shares after they lost 26% of their value in the two days following the referendum vote.Since then, the stock has recovered to trade well above its level from before Brexit.Confidence is not sky high, as the drop in sterling to 31-year lows reveals, but the shares may yet prove a good place to stash some cash, The Sunday Times´s Danny Fortson said.Unlike some of its rivals, Provident Financial finances itself via its deposits - from people with riskier credit histories - instead of through wholesale debt markets, which are prone to seizing-up.That business model means that a downturn can in fact lead to a boost in profits, because its losses are front-loaded.A crisis may also lead some banks to pull in their horns, leaving the field wide open for firms such as Provident."Buy", Fortson said. Jimmy Choo is one of the luxuruy brands that is continuing to grow while others falter and the weakening pound can only add to its allure, the Mail on Sunday´s Midas column said.Sales Stateside have been mixed in the past year, but in Asia they are booming and the company is moving into segments of the market, such as handbags and accessories as well as men´s shoes."The underlying business looks sound. The foreign exchange effect makes this look like a very promising investment," Midas said, so 'buy'.
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3 Dec 2014 10:09

Jimmy Choo expected to join FTSE 250

Jimmy Choo is expected to join the FTSE 250 index, just one month after its initial public offering (IPO). The luxury shoe maker started trading in London in October after pricing its flotation at the bottom of its price range at 140p. The FTSE Group is expected to announce Jimmy Choo's move at its

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17 Oct 2014 11:41

London midday: Oil stocks boost markets as sentiment recovers, Rolls-Royce drops

UK stocks staged a partial recovery on Friday following a turnaround in sentiment on Wall Street, with oil producers leading the upside after a bounce in oil prices from their recent lows. The FTSE 100 was up 0.8% at 6,245 by midday. On the face of it, a 0.8% gain on the FTSE 100 would otherwise be

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17 Oct 2014 10:35

TOP NEWS: Rolls-Royce Shares Lose Power After Revenue Warning

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17 Oct 2014 09:19

Jimmy Choo begins trading with IPO priced at bottom of price range

Jimmy Choo on Friday morning started trading in London after pricing its flotation at the bottom of its price range at 140p. The luxury shoe maker's shares rose to 143p a share in the first hour of trading but quickly pared back gains with a flat opening. The company had originally set its initial

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17 Oct 2014 07:30

Shoemaker Jimmy Choo Prices IPO At Low End Of Guidance (ALLIPO)

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