Member Info for HopeGreedNothing

Who would take 1.70 now?
It will be out of our hands for sure but look at Wood Group declined an offer of 2.40 only to go back to Apollo after shareholder pressure and looking to agree on previous terms. Ongoing.
Sit tight
Or
Sell
Or
Buy more

BR - you would think you would get lucky at least once and make a right call, but man are you really really bad at this guessing game, if fact you are so bad most normal people would have given up by now, still each to their own.

LVMH flags strong Chinese rebound, U.S. slowdown
PARIS (Reuters) - LVMH, the world’s largest luxury company, reported a 17% rise in first-quarter sales, more than double analysts’ expectations, as China rebounded sharply after COVID-19 lockdowns.

Sales at the French company, which owns the Louis Vuitton and Dior fashion houses, as well as Hennessy cognac and U.S. jeweler Tiffany, came to 21.04 billion euros ($23.10 billion) for the three months to end-March.

The 17% growth on an organic basis, which strips out the effect of currency fluctuations and acquisitions, compared with analysts’ expectations for 8% growth, according to a Visible Alpha consensus.

The figures for LVMH, a bellwether for the high-end industry that has proven resilient to rising inflation and market turmoil, offered the first snapshot of the scale of the Chinese recovery after lockdowns dented sales at the end of 2022.

LVMH said first-quarter sales grew by 14% in Asia, excluding Japan, compared with an 8% decline in the fourth quarter of last year, and the group said it expected China to drive growth in 2023.

The picture was more mixed in the United States, where the strong demand that boosted European fashion houses last year is showing signs of waning, particularly among younger, lower-spending shoppers.

U.S. sales grew by 8% in the quarter, more than analysts had expected, but LVMH finance chief Jean-Jacques Guiony said most of that growth was down to brisk business at its less exclusive Sephora retail chain of beauty stores.

“For the rest, the business is slowing down a bit,” he said, citing softer demand for fashion and leather goods, as well as jewelry.

LVMH made 27% of its 2022 revenues in the Americas, and 30% in Asia excluding Japan.

LVMH’s shares have risen 23% since the start of the year, outperforming a 14.5% rise in the French blue-chip index and giving the luxury goods group a market capitalisation of 420 billion euros - double its level three years ago -- cementing its lead as Europe’s most valuable company. LVMH shares have doubled in 3 years

Presenting headline numbers in the positive.

Missed what I hope is todays bottom by 1p with todays purchase Grrrrrrrr.

SW77 - I can’t believe I was so stupid, you should have said earlier, that you know people who work there.
That changes everything, there’s nothing wrong with the LSE. Everyone rest easy.

SW77 - I was responding to ‘ Theres nothing wrong with the LSE’. I don’t remember saying that about gov reviews but hey if makes you happy call me stupid.
I certainly haven’t called anyone in the LSE stupid, but why restrict your overactive imagination.

SW77 - no offence but if you believe that then you are as blind as your moniker.

C - buk, buk, buk, ba-gawk selling btc :)

E/H

OSG - where is this money coming from?

R8 - what’s the boards overall %?

SB - May have to put the hopium on ice also. :), hope I’m wrong.

On the booze early SB!

Maybe the ‘City’ should just attribute decent values to listed companies.
No sympathy for them, let’s see how they enjoy living on scraps.

If they can’t make the numbers work during a simple postal strike, what damage will a real recession do?

Ding ding…. Round 1!

Is that guy from EY’s - Scott McCubbin serious, hope that deluded dude isn’t doing our accounts review.

Or should he be? ‘Mmmmm………

This follows three government-backed reviews in recent years that have suggested that the listing rules could be changed to improve competitiveness. The FCA has taken forward some of these recommendations by loosening the free-float requirements and relaxing restrictions around companies with dual-class share structures in late 2021.
Scott McCubbin, EY’s UK and Ireland IPO leader, believes there is no reason why the UK could not fill the gap it has in technology. He said: “Do I think London is behind other capital markets in the world? Absolutely not.”

Capital’s international status at risk amid calls for shake-up
April 10 2023, The Times
Initial public offerings on the London Stock Exchange fell to their lowest level in a decade last year, underlining concerns about the capital’s status as an international financial centre.
The amount of money raised in new listings has fallen substantially in the year to March 31, with volatile markets whipped up by the war in Ukraine and jitters over the global economy, while the number of companies delisting, which has jumped to a six-year high, underpins calls for a shake-up of the stock market listing regime.
Only 41 companies completed initial public offerings on the main market of the London Stock Exchange last year, the worst showing since a mere 37 came to market in the same period to March 2013. The £1.2 billion raised in new issues was the smallest amount generated in at least 14 years and is 80 per cent below the £6 billion raised a year earlier. The figures from UHY Hacker Young, the accountancy group, showed that 82 firms delisted over the period.
In recent blows to London, the FTSE 100 building materials supplier CRH said it was shifting its primary listing to New York, while Flutter, the gambling business behind Betfair and Paddy Power, is exploring a similar move. The chip designer Arm, one of the country’s leading tech companies, has also said that it will float in the United States.
The plunge in London’s listings against the backdrop of unfavourable conditions means “for many in the corporate finance community this has been the worst year in their careers,” said Colin Wright, partner and chairman of the UHY Hacker Young Group.
British politicians and financiers have been looking at an overhaul of the listing rules over the past couple of years to boost London’s attraction for international companies and investors.
London’s stock markets, especially the FTSE 100, which is heavily weighted towards traditional stocks such as banks, drugmakers and oil explorers, have often been criticised for lacking tech stocks. Nick Train, one of Britain’s best-known fund managers, branded the UK the backwater of global equity markets, pointing to the dearth of “significant technology champions” and the UK’s “dismal capital performance”.
The Financial Conduct Authority (FCA) has been accelerating its revamp of the listing rules, saying it would start a consultation on its proposal to replace the premium and standard segments of the London market with a single category. As part of the switch, companies would no longer have to demonstrate a three-year record of financial performance before listing, nor would they have to hold shareholder votes on big deals and related-party transactions.

This follows three government-backed reviews in recent years that have suggested that the listing rules could be changed to improve competitiveness. The FCA has taken forward some of these recommendations by loosening the free-float requirements and relaxing restrictions around companies with dual-class share structures in late 2021.
Scott McCubbin, EY’s UK and Ireland IPO leader, believes there is no reason why the UK could not fill the gap it has in technology. He said: “Do I think London is behind other capital markets in the world? Absolutely not.”