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The U.K.’s Financial Conduct Authority announced Thursday new rules for the country’s stock market listings in a bid to boost growth following a slow down in IPOs.

The new rules — which come into effect from July 29 — will ensure the U.K.’s listing system is more in line with those in other markets, and will make it simpler and more streamlined, the FCA said in a statement.

The measures mark the biggest change to the listing regime in over three decades, the FCA said. “They aim to support a wider range of companies to issue their shares on a UK exchange, increasing opportunities for investors,” the regulator added.

One key change is the removal of the ‘premium’ and ‘standard’ listing segments. Instead there will be one overall category for equity share listings, which has been named ‘commercial companies.’

https://www.cnbc.com/2024/07/11/uk-launches-new-listing-rules-in-bid-to-boost-london-stock-exchange.html

Trackers can adjust sometimes daily depending on the weighting of each holding/movement within the index, its very much dynamic.

Burberry have been highlighted (orange) for a while now as most likely to be demoted, current position 114.

https://www.stockchallenge.co.uk/ftse.php

Some of the volatility here is due to trackers responding to rate expectations, model adjustments ect..

The Goliath iShares ETF is a good example as it holds Burberry within their 'Consumer discretionary' category which has slipped a fair bit in recent months, now in third place.

https://www.ishares.com/uk/professional/en/products/244049/ishares-core-msci-eafe-etf

iShares incidentally is owned by Blackrock.

Another 750,000 for Alexander Milne at 8.75p increasing his holding to 6,494,686 or 1.90%

Scheme document how published with the Effective Date 20 August 2024, this of course is subject to voting and various other points mentioned in the document.

Max, it could be an oversight on their part for not filing the equivalent UK form, TR1 but unlikely imo, as mentioned earlier several managed funds group together in aggregate is possible.

Here's the actual filing 13G

https://www.sec.gov/Archives/edgar/data/1364742/000108636424002367/0001086364-24-002367-index.html

It does state they are 'beneficial owners' and have most (not all) of the voting rights, I would have thought this sufficient under UK listing rules to trigger a TR1 but maybe I am wrong on this, need to check.

23/24 AR has the same figure 27,729,908, quite a difference - it could be Blackrock are filing 13G in respect of combined managed holdings including their own, will look into a bit further and update.

Looking at the 2023 AR (As at 1 April 2023), Blackrock are listed as owning 27,729,908 shares or 6.62%, however their form 13G submissions shows 36,958,937 or 10.30%

https://fintel.io/so/us/burby

Thanks Jatw for the feedback, lots of useful bits in there.

Fed chair Powell making comments on the danger of keeping rates too high for too long, growth stock may yet have their day in the sun..

You know things are getting bad when people stop buying multicoloured vacuum cleaners lol

https://www.cnbc.com/2024/07/09/vacuum-cleaner-manufacturer-dyson-to-cut-up-to-1000-jobs-in-the-uk-.html

Markets are risk adverse following French election with the country now being perceived as unstable, CAC dropped over 1.5% today

Fed Chair Powell sounded alarm bells today on holding rates high for too long, well worth following some of the on-ground YouTube realtos for their view on what's actually happening, its basically of f the scale in terms of a pending crisis.

https://www.cnbc.com/2024/07/09/fed-chief-powell-says-holding-rates-high-for-too-long-could-jeopardize-economic-growth.html

Its completely unsustainable, something has to give..

Another 500,000 for Alexander Milne at 8.75p increasing his holding to 5,744,686 or 1.68%

Ospraie Ag Science initial disclosure 58,072,790 shares representing 17%

Now these are in, I would expect the scheme document to be published pretty soon.

Alexander Milne has purchased an additional 250,000 shares taking his holding to 5,244,686 or 1.5%

Initial declaration from Scobie, also increased from 44,664,624 - 13.1% to 45,984,624 - 13.46%

Ospraie still to report

Jatw, are you kiddin, look at the news feed - its chocka !

R & D update next week, hopefully continue momentum ..

Good day !

Prop traders must be reading from a text book lol

Each company clearly has its own specifics but in general terms ASC, Boo and THG ended 2021 a lot higher than current levels.

Approximate 2021 year end figures

ASC £23

Boo £1

THG £2.20

Official Bank Rate

https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

The end of 2021 was start of rate increases to where we are now, Blackrock responded by selling down their holding along with one or two others depressing prices further.

All three stocks are in the same category, Consumer Discretionary.

Put simply, THG has endured most of its public listing while rates have been increasing, prior to that it had a honey moon period post Covid of just 12 months.

ProAct Delivers Proven Margin in hashtag#Potatoes with potential MOIC up to £3,232/Ha

Boosts Yield and Quality: ProAct has consistently shown to increase yields and improve crop quality, making it a reliable choice for maximizing returns.

https://www.linkedin.com/posts/agriiuk_potatoes-activity-7214338410704990210-wknT/

All eyes on the pound tomorrow, any big dips and BOE unlikely to cut soon imo.

On the plus side some encouraging figures coming out of the US, also French election may prove a valuable ally to UK.

Never seen a stock behave in such a way, with each piece of good news the market makers/props get ever more aggressive pushing the price down to stem any momentum.

Bought a few more, moving back up the portfolio weighting to around third.

Oddo BHF AIF PLC accounts for 8,323,000 out of yesterdays near 21m volume

https://www.oddo-bhf.com/en

Just under 21m traded today or 6%, that's a fair lump of votes going somewhere.

Holders have until 10th July to submit Opening Position Disclosures.

Is this the fellow ?

Alex Milne

Corporate Finance Partner

https://www.rsmuk.com/our-people/alex-milne