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https://www.hl.co.uk/shares/share-research/202202/iag-recovery-ready-to-take-off
On here
(Adds details from statement, background)
LONDON, Feb 11 (Reuters) - UK's second-largest airport
Gatwick said on Friday it would reopen its south terminal next
month, as it expects demand to pick up this summer, with
coronavirus travel curbs having eased.
The airport said a number of airlines will start returning
to the south terminal from March 27. The terminal shut down for
nearly two years due to the coronavirus pandemic.
Airlines including British Airways, Dublin-based,
Aer Lingus, Oslo-listed Norwegian Air and low-cost
carriers Vueling, Wizz Air and Ryanair will
operate from the terminal, while easyJet will operate
across south and north terminals.
Passenger numbers, particularly in international travel, are
expected to pick up as virus-related restrictions have either
been completely lifted or are being gradually eased in major
economies.
Ryanair last week laid out expectations that pent-up demand
could lead to record summer passenger numbers.
Still, the possibility of new variants poses a threat to a
sustained rebound and Gatwick Chief Executive Stewart Wingate
warned that it may take time for consumer confidence to fully
recover.
Highlighting some of the persistent uncertainty, Britain's
biggest airport Heathrow warned earlier in the day of a slow
start to 2022 due to the fast-spreading Omicron variant of the
virus even as it set a more positive tone for the summer.
(Reporting by Muvija M in London; editing by William James)
BOA STAYS 'NEUTRAL' ON UNILEVER, SAYS UPSIDE AND DOWNSIDE RISKS 'WELL BALANCED'
(Sharecast News) - Analysts at Bank of America reiterated their 'neutral' recommendation for shares of Unilever following news at the weekend that it had made three bids for GlaxoSmithKline's consumer health business, telling clients they belived that upside and downside risks to the share price were "well balanced" at current levels.
On the plus side, the proposed deal would help rectify Unilever management's excessive focus on profitability be a step in the right direction towards growing its topline, while giving it exposure to leadership in faster-growing categories.
But there was limited scope for synergies due to Unilever's scant presence in consumer health, oral care and nutrition, they added.
To that one could add Unilever's lack of experience in over-the-counter consumer health products and possible competition concerns in oral care, as the company's market share would be in excess of 35%.
Lastly, given the increasingly costly rejections of its offers, and the resulting increase in its projected indebtedness if it succeded, BoA believed that any potential hike in the offer price would likely be in shares or require further disposals of "sizeable parts of the business".
They estimated that a £41bn increase in the company's debt would push its net debt as a proportion of earnings before interest, taxes, depreciation and amortisation to 4.5-5.0 times, which would be more than its European Food/HPC peers.
BoA stood by its 4,500.0p target price on the stock.
On HL website
(Sharecast News) - Sub-prime lender Provident Financial said its fourth-quarter trading performance continued to track ahead of management expectations, driven by favourable macroeconomic conditions and demand for credit from customers, and announced the restructuring of the board of Vanquis Bank as part of an effort to "substantially align its membership" with the board of PFG.
Provident Financial said its fourth-quarter trading performance continued to track ahead of management expectations, driven by favourable macroeconomic conditions and demand for credit from customers.
In the group's credit card business, credit standards remained "tight" and delinquency trends remained "benign", consistent with those outlined at the end of the third quarter.
Overall, customer credit card spend for the quarter was in line with pre-pandemic levels, although spend levels were impacted by the spread of Omicron through December and early January, in line with the wider market, while the group stated its vehicle finance business ended 2021 "well", with year-on-year growth in its customer numbers, customer feedback scores remaining positive and pricing of used vehicles at all-time highs.
As a result of the improved trading conditions in the second half, Provident now anticipates being able to release approximately £20.0m of Covid-19 macroeconomic related provisions as it reappraises its coverage ratios and intends to declare an ordinary dividend of approximately 30% of adjusted ongoing full-year earnings and anticipates providing guidance for a longer-term, progressive dividend policy with its full-year results.
Elsewhere, Provident Financial revealed it had restructured the board of Vanquis Bank as part of an effort to "substantially align its membership" with the board of PFG.
Has it lost its sparkle like Tesla?
From Morningstar
2020’s top riser with a return of more than 100%, Scottish Mortgage Investment Trust (SMT), was in 21st place in 2021 with a still respectable 12% increase. The trust benefited from a weighting towards Tesla (TSLA) in 2020 and general focus on tech, but has slipped down the table. (Co-manager James Anderson is stepping down in April 2022).
Fun money out and in for a few extra shares
Date Type Company Market Quantity Executed Price Net Consideration Reference
05 Nov 2021 BUY IAG LSE 1,189 163.54p £1,953.33
21G3BKX
Trade
Research
04 Nov 2021 SELL IAG LSE 1,145 171.01p £1,953.11
21G2WKD
Trade
Research
Date Name Position (if held) Deal type Number of
shares dealt Price Value of trade Shares
remaining
06 Oct 2021 Breteau, Nicolas Noel Andre CEO Regular purchase transaction 21,000.00 £1.49 £31,248.00 155,220.00
20 Sep 2021 Cates, Katherine (Kath) Non-Executive Director Regular purchase transaction 10,315.00 £1.65 £16,999.12 19,274.00
08 Sep 2021 Hemsley, Mark Simon Independent Director Regular purchase transaction 22,000.00 £1.74 £38,315.20 22,000.00