Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Much better today. The fall in the price of oil should help here.
It's hard to know how serious this is and whether it could spread wider/worldwide. Or is it just a massive tree shake making people panic and sell their shares cheaply.
That's one of the hardest things I find about investing in shares, not knowing which noise can be ignored and which to be fearful of. It's hard not to do anything when prices are down and panic sets in. Our natural reaction as humans is to act if something is going wrong, but actually sometimes it is best to do nothing at all.
Sentiment in the airline sector was lifted by news German carrier Lufthansa returned to profit in 2022 as revenue jumped on doubled passenger numbers, although they remained below pre-pandemic 2019 figures.
The Cologne, Germany-based airline said it made a net profit of €791mln in 2022, from a loss of €2.19bn in 2021. However, this is still 35% lower than a pre-pandemic net profit of €1.21bn achieved in 2019.
Revenue jumped 95% to €32.77bn from €16.81bn and was 10% lower than €36.42bn in 2019. Passenger numbers more than doubled to 101.8mln from 46.9mln, but was 30% below 2019's 145.2mln. The load factor improved to 80% from 62% but was below 83% in 2019.
Shares in Lufthansa jumped 5.5% and helped lift shares in British Airways owner International Consolidated Airlines Group SA (LSE:IAG) by 2% and Wizz Air Holdings PLC (AIM:WIZZ) by 2.8% and easyJet PLC by 3%.
Watches of Switzerland had its target price cut by Jefferies although it said it continues to see it as an “attractive proxy” for watches.
Analysts at the bank cut its target price to 1300p from 1500p, although it remained a buy on the Rolex seller.
“We remain buyers of the name as we continue to see the investment thesis as compelling and unique in terms of resilience and opportunity,” said the broker.
Jefferies said it expects Watches of Switzerland to meet guidance for the fiscal year 2023, while waiting lists for luxury watches give it “confidence on resilience of sales.”
“Whilst waiting lists have always been a feature for some models of Rolex, through 2021 and 2022 there was an expansion in both the breadth of waiting lists and their length which are 8+ years for some models.”
Watches of Switzerland also has a strong opening pipeline for 2024, including expansion at Bond Street and a new store in New York.
Decent results in the current economic climate. Hopefully the share price will kick on a bit now.
Nice 8.5% increase to the final dividend.
Was expecting an announcement on when the next tranch of the share buyback will commence but can't see anything. Unless I missing it?
Very glad I topped up just before we went ex-divi. Divi arriving soon plus share price growth is a great combination.
500p coming soon I think.
Looked good to me. Certainly didn't see any red flags to warrant a 5% drop at open.
This is not new information. The yield will still be very healthy and above the FTSE 100 average.
The FTSE 100 is still only trading on an average forward earnings of 10 compared to around 15 for the major index. Yes there are some companies with limited growth potential and a lot of utilities, fossil fuel companies, insurance and tobacco companies but it is still undervalued.
Retail results have been a lot getter than expected and with gas and petrol prices coming down, inflation might not be a high as feared and the recession shallower and shorter than predicted.