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Have a look at this long term chart HSI https://money.cnn.com/data/world_markets/hang_seng/?source=story_quote_link

Hutchmeds prospects in financial terms are strengthening, currently waiting for a partner 9glbal) for fruquintinib. China itself is pulling out all the stops to bolster flagging economy post covid.

We could also hear something from US audit inspector who have boots on the ground, although no idea how long this process takes.

FIL Limited have just gone over 5% on Boo as shareholders, not every institution is in sell mode, some are undoubtedly positioning for the turn.

Looking at the redemptions table its possible/likely Jupiter are winding down Jupiter UK Mid Cap Fund, the redemptions are not far behind European fund which has already closed - both listed below.

My suggestion here is the market knows this positioning shorts on those equities being sold.

Jupiter European Fund -£607mn

Jupiter UK Mid Cap Fund -£423mn

https://www.ftadviser.com/investments/2022/05/03/jupiter-s-outflows-make-it-vulnerable-to-a-takeover/

"Every one of its UK funds has seen outflows, with the Jupiter UK Mid Cap Fund seeing net redemptions of £423mn, and its Income Trust (which invests in UK equity income) has lost £170mn. "

See redemptions table

https://www.ftadviser.com/investments/2022/05/03/jupiter-s-outflows-make-it-vulnerable-to-a-takeover/

I wondered if they might close down this particular fund altogether. Seems possible given how much they are selling of course they cannot signal that intention otherwise hedgies will short as they did with much of Woodford's portfolio.

Problem here is Jupiter issued a TR1 showing a substantial reduction in THG, this may have piqued short sellers interest adding to already high selling pressure (if that makes sense)?

Jupiter European fund closure

https://www.jupiteram.com/uk/en/professional/jupiter-suspends-dealing-for-jupiter-emerging-european-opportunities-fund/

I would guess Jupiter are suffering from persistent redemptions forcing asset sales, bit like a run on a bank.

We should know more mid Oct when they publish an update.

Bit of action after hours on top of 550k

Tensions between US and China escalating, finger on buy button.

As interest rates/LIBOR rises so does the cost of borrowing stock, todays rise will be reflected in tonight's cost of carry rate.

Better returns elsewhere one would have thought.

Its the 10% rule LD, in other words the board must be confident of adding 10% or more revenue/profit this year, that would imply a deal worth north of 200m GBP - this is only a rough guide though, there can be other factors which override this.

Iceland have two applicable categories, Health and Beauty which already have some well known brands but nothing around sports that I could see, also Beauty could be another tie up at some point.

https://www.iceland.co.uk/

Re-reading that para it states both types of customer "will offer both Iceland and Myprotein customers""

Presumably there's not much manufacturing difference between a healthy protein meal and a healthy meal, just add a few more carbs, potatoes or pasta.

https://www.myprotein.ie/sports-nutrition/protein-ready-meal/11273533.reviews?pageNumber=2

Good spot there 2phevs,

It doesn't mention market sector which you assume to be sports, perhaps they are leveraging their ingredient divisions (Claremont, David Berryman) to produce a general market offering.

"The product range we are developing together will offer both Iceland and Myprotein customers high-quality meals, ingredients and ice creams to rival any other range already available on the market."

https://www.foodmanufacture.co.uk/Article/2021/01/05/The-Hut-Group-acquires-Claremont-Ingredients-David-Berryman

Even though we have caps on energy there is still a need to conserve what we have, both environmentally and economically.

If they are turning off the Eiffel tower lights how does this look when Harrods is lit up end to end with lights, once famous for their shop window displays it could be a different going forward.

Heating these large stores may also be an issue when scrutinised, again for the above reasons as will large fancy in shop displays, all of this favours efficient centralised (and automated) DTC hubs. Bots can work 24/7 in much lower temperatures without the need for lighting.

All of this underpins the THG Ingenuity model which has attracted so much long term investment, doing this over starting from scratch takes time, lots of it along with substantial financial backing - a big moat for most businesses to cross, time to raise the drawbridge !

Worth reading the potential impact of energy costs on retail bricks and mortar, from diming lights, swathing off air conditioning to banning illuminated signs.

How Europe plans to cut gas usage this winter

https://www.cnbc.com/2022/09/21/short-showers-and-driving-slower-how-europe-plans-to-cut-gas-usage.html

Market waiting for something, TR1 perhaps ?

Agree Ohh, encouraging if it keeps up.

Something has to give Sofina, Balderton and Softbank will be spitting feathers by now, it could be one or more are active in the market but again notification thresholds may be higher.

UBS recently bought into REVB even though currently suspended, there is interest out there for sure.

Always a bit tricky for issuing TR1's due to the higher limit for overseas co's (5%)

Reasonable volume today wit a few large trades after the close.

from results:

"The Group's intention to step-up to the Premium segment of the Main Market of the London Stock Exchange remains, with timing subject to the outcome of an FCA review for reform of the listing regime expected in 2023.""

This could be what they are referencing?

FCA planning reform of the listing regime to boost growth and competitiveness

https://www.fca.org.uk/news/press-releases/fca-planning-reform-listing-regime-boost-growth-and-competitiveness

Not directly relevant but perhaps the future against a backdrop of Climate change

Beijing must provide more financial support, guidance to develop China’s cultivated protein sector, NGO says

https://www.scmp.com/business/china-business/article/3193014/climate-change-beijing-must-provide-more-financial-support

US inspectors arrive in PwC, KPMG offices in Hong Kong to review Chinese companies

https://www.scmp.com/business/article/3192982/us-inspectors-arrive-pwc-kpmg-offices-hong-kong-review-chinese-companies

Its a long shot for sure Dg but that would be my preference, depends I guess how they are fairing overall not been a good year as reported.

They still have their original stake plus a growing list of potential customers within their own portfolios, That said much has changed with divisions closed, points of contact moving on and such so probably a very different picture now..

The other reason for favouring this type of partnership is the long term commitment unlike say a hedge fund who may choose to break up the group undoing a lot of accretive hard work.