The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
FUTR seem to be weathering this storm reasonably well. I would expect subscriptions for mags to be well up in this environment as people stay at home and need something to do?
Incentivised at the expense of shareholders it seems! I suppose the warnings were there when they said that they were being told to sort out the balance sheet by stakeholders. The KHSA disposal and the fit for growth programme were a drop in the ocean and never going to be anywhere near enough to sort the debt out. The huge short position was a big red flag here.
Don’t like the sound of this: “The level of net debt is increasingly a key focus for stakeholders in the industry and the Board recognises the importance of a strong balance sheet to take advantage of opportunities to underpin its future performance. “
Big downgrade on IG and Plus this afternoon from Canaccord. Initiated Sell rating on both
GNC gets a mention in today’s alphaville markets live - bid spec. Looking good for a short squeeze of anything comes of it
What was the record date to be eligible for the 2.10 return? My understanding was that is was for shareholders on the register the day before the acquisition was announced, but the latest results statement suggests its for "current" shareholders
Another bid bump on friday
Interesting telegraph article http://www.telegraph.co.uk/business/2017/06/22/ftse-100-falters-oil-languishes-near-10-month-lows-glut-fears/
Shares up on Sunday Mail article looks good http://www.dailymail.co.uk/money/investing/article-4283466/MIDAS-SHARE-TIPS-UPDATE-TT-shares-course.html
FT speculation of M&A activity today with Credit Suisse. Seems it's in a few other papers too
Willis towers Watson expecting cut to minus 0.5. Difficult to know what the market has already priced in. https://www.willistowerswatson.com/en-GB/press/2017/02/Motor-re-insurers-face-significant-reserve-charge-from-potential-discount-rate-change
Rns today delaying results until after new discount rate is announced. DLG saying they have been using a rate of 1.5% instead of the required 2.5% so any reduction won't have so much of a negative effect. Seems that the current share price is reflecting a reduction to 1.5%?
Fitch report Reuters LONDON, February 13 (Fitch) Fitch Ratings says in a new report that a likely reduction in the UK's Ogden discount rate in February 2017 would result in higher costs for claims settled as a lump sum. This could be significant as many payouts are intended to cover decades of costs, so small changes in the discount rate can add up to a large effect on lump-sum payments. The poor profitability of the UK personal motor market means the sector is unlikely to be able to simply absorb increased claims costs. Presumably this is why Macquarie have a 295p price target?
Reuters LONDON, February 13 (Fitch) Fitch Ratings says in a new report that a likely reduction in the UK's Ogden discount rate in February 2017 would result in higher costs for claims settled as a lump sum. This could be significant as many payouts are intended to cover decades of costs, so small changes in the discount rate can add up to a large effect on lump-sum payments. The poor profitability of the UK personal motor market means the sector is unlikely to be able to simply absorb increased claims costs.
Well in the absence of any other news I'd still say the Investors Chronicle has helped drive the shares higher. That and the low free float. Shame it couldn't hold on to 194p high paid and since dropped back a bit
I thought the shares were rising on the bullish investors chronicle article from last week?
At a loss! I suppose the market was hoping for a better price on the disposal but maybe it will creep up from here
I've added. This should be at 18p by now