George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
COMPANIES - FTSE 100
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Taylor Wimpey said the Spring selling season is progressing in line with our expectations, ahead its annual general meeting later on Tuesday. Looking ahead, the housebuilder reiterated guidance. It said it expects 2024 UK completions to be in range of 9,500 to 10,000, with completions weighted 45% to 55% in favour of the second half of the year. Chief Executive Jennie Daly said: "We have made a good start to 2024 with the Spring selling season progressing as expected. While we are mindful of ongoing market uncertainty and affordability challenges, it is pleasing to see continued market stability supported by good mortgage availability and sustained customer confidence."
SP has bounced off circa 155.00p three times in the last three months, therefore I would suggest at resistance again ......
Reporting IAG raised to outperform - BNPP & Exane- 'Heathrow airport finally full after the pandemic and wage costs coming down'......
Goldman Sachs raises Lloyds Banking price target to 80 (77) pence - 'buy'
RBC cuts Lloyds Banking price target to 68 (70) pence - 'outperform'
Restates robust Q2
CEO interview on Bloomberg now ...
Goldman Sachs raises Lloyds Banking price target to 80 (75) pence - 'buy'...
Barclay family have lost control of crown jewel media assets in bitter row with newspaper group’s lender...
https://www.theguardian.com/media/2023/jun/07/daily-telegraph-and-sunday-telegraph-newspapers-to-be-put-up-for-sale
Receivers at Alix Partners have seized shares of the parent company of the Daily Telegraph on behalf of lender Lloyds Banking Group Plc....
(Alliance News) - Lloyds Banking Group PLC will hire bankers within days to launch a GBP600 million auction of the Telegraph newspapers and The Spectator magazine, according to a report by Sky News late Tuesday.
The news comes amid a bitter row between the Edinburgh-based bank and the titles' long-standing owners, Sky News said, with Lloyds being advised by financial consultancy Lazard Ltd on its options.
Sky cites "industry sources" as saying that Lloyds planned to appoint another large investment bank to kick off an immediate process to sell the Daily and Sunday Telegraph titles.
That would initiate one of the most hotly contested media auctions in Britain for years, Sky News reported, and bring an end to the Barclay family's nearly two-decade ownership of the broadsheet newspapers.
Sky News reported that Lloyds intends to pursue this course as early as Wednesday, enabling it to remove directors appointed by the Barclay family, according to an insider source.
Among those removed is expected to be Aidan Barclay, chair of the newspaper group and nephew of Frederick Barclay, who along with David Barclay engineered the takeover of the Telegraph in 2004.
https://news.sky.com/story/lloyds-to-launch-600m-telegraph-auction-after-seizing-control-12897863
(Bloomberg) -- US stocks gained Tuesday as a rotation into financial shares bolstered hopes the breadth of the S&P 500’s recent rally might extend beyond technology soon....
https://uk.finance.yahoo.com/news/asian-stocks-set-mixed-open-233007314.html
Boots has also emailed its employees saying that staff’s names, surnames, employee numbers, dates of birth, email addresses, the first lines of their home address and national insurance numbers have been affected. It said a “very small number” of employees may have had other data compromised.
The hack relates to Zellis, which provides payroll services. Zellis is used by a large number of major companies to process employee payments, including the NHS and BBC.....
The hack is understood to affect eight Zellis customers. It is not clear which employers have had details compromised beyond BA and Boots.
https://www.msn.com/en-gb/news/uknews/british-airways-and-boots-warn-staff-data-stolen-in-massive-hack/ar-AA1c9jY8?ocid=msedgntp&cvid=cf9e51f887a04c8cb643becbacd6590a&ei=6
IAG CEO interview highlight - 'This summer will be better but with challenges'...
Bloomberg have numerous interviews, including the IAG CEO, from the IATA Annual General Meeting (AGM) and World Air Transport Summit.
Interesting research for IAG and sector in general...
FTSE Futures up 0.30%
European Futures - unchanged
US Futures - slightly lower
HSBC raises JD Wetherspoon to 'buy' - price target 940 pence ...
May 30 (Reuters) - Qantas Airways (QAN.AX) on Tuesday forecast its international divisions to be twice as profitable in the post-COVID era on strong recovery in tourism, with earnings at domestic and loyalty divisions also projected to improve.
International margins at Australia's flagship carrier are forecast to grow to more than 8% in fiscal 2024, with its long-haul travel program Project Sunrise set to take off in late 2025, seen further boosting margins up to 12% in the future.
"This is a structurally different business than it was before COVID, operating in markets that have also changed," Alan Joyce, Qantas' outgoing chief executive officer said.
Project Sunrise, which will start with Sydney to London and New York on Airbus A350-1000 aircraft, is projected to deliver earnings in excess of around A$400 million ($261 million) every year from when all 12 aircraft ordered complete their first full year in service.
Qantas also expects its Loyalty division to reach its fiscal 2024 earnings before interest and taxes target of A$500 -A$600 million, rising further to A$800 million to A$1 billion by fiscal 2030.
Qantas reaffirmed its 2024 capital expenditure forecast provided in February of between A$3 billion and A$3.2 billion. That compares with its fiscal 2023 outlook of A$2.6 billion to A$2.7 billion.
Qantas shares were trading 1.8% higher as at 0300 GMT, marking their biggest intraday gain in nearly a week.
APLOGIES WRONG BOARD ...
May 30 (Reuters) - Qantas Airways (QAN.AX) on Tuesday forecast its international divisions to be twice as profitable in the post-COVID era on strong recovery in tourism, with earnings at domestic and loyalty divisions also projected to improve.
International margins at Australia's flagship carrier are forecast to grow to more than 8% in fiscal 2024, with its long-haul travel program Project Sunrise set to take off in late 2025, seen further boosting margins up to 12% in the future.
"This is a structurally different business than it was before COVID, operating in markets that have also changed," Alan Joyce, Qantas' outgoing chief executive officer said.
Project Sunrise, which will start with Sydney to London and New York on Airbus A350-1000 aircraft, is projected to deliver earnings in excess of around A$400 million ($261 million) every year from when all 12 aircraft ordered complete their first full year in service.
Qantas also expects its Loyalty division to reach its fiscal 2024 earnings before interest and taxes target of A$500 -A$600 million, rising further to A$800 million to A$1 billion by fiscal 2030.
Qantas reaffirmed its 2024 capital expenditure forecast provided in February of between A$3 billion and A$3.2 billion. That compares with its fiscal 2023 outlook of A$2.6 billion to A$2.7 billion.
Qantas shares were trading 1.8% higher as at 0300 GMT, marking their biggest intraday gain in nearly a week.