News

Key Points

• Shares of Elox surged almost 100% after receiving an increased price target from Oppenheimer and published preclinical data demonstrating activity against subtypes of colorectal

• Hunt and Sunak to consider review bodies’ pay proposals
• Barratt still on track to meet expectations
• UK GDP shrinks in May, but not by much
• Bob Iger given 2 more years at Disney
• Chinese

Mark Levin Salutes NLPC for Confronting Corporatists The Ben & Jerry’s ice cream company, a subsidiary of the London-based conglomerate Unilever, “celebrated” Independence Day by claiming that

Currys’ (LON:CURY) full-year revenue fell 7% to £9.5bn on a like-for-like basis, with declines in all markets except Greece. This was due to a fall in consumer spending as persistent inflation and

Reducing consumer friction may be an obvious trend. But it ranges from the quite literal elimination of steps taken on a website to making a variety of everyday tasks easier for the consumer.

Key Points

• Carnival shares are selling off at Monday’s market open; the decline follows the company’s release of its second quarter 2023 earnings results. 
• A seemingly significant disconnect

Key Points

• Houston-based utility NRG Energy surged 3.94% as the company addressed concerns of activist investor Elliott Management, which acquired a $1 billion stake in NRG in May.
• The

Vodafone Group plc (LON:VOD) has agreed terms with Three UK owner, Hutchinson Group, to merge their UK telecoms businesses. The combination of Vodafone UK and Three UK will create a new entity

• We Soda, the world’s largest producer of natural soda ash, has pulled out of plans for a listing on the London Stock Exchange.
• It would have been the biggest UK listing so far in 2023.

Key Points

• Constellation Brands stock was up 6.27% over the past three months and 9.01% over the past six months.
• Analysts recently upgraded price targets or reiterated “buy” ratings.

Pennon Group plc (LON:PNN)’s full-year underlying revenue rose 4.1% to £825.0m, reflecting contract wins by Pennon Water Services and a full twelve-month contribution from Bristol Water.

• FTSE 100 opens lower as concerns continue over inflation and the US debt ceiling vote.
• Brent crude heads back towards $76 a barrel as uncertainty lingers.
• Asda makes a further foray into

Look ahead to FTSE 350, other companies reporting & economic events from 29 May – 2 June

• Ocado Group PLC (LON:OCDO) set to drop out of FTSE 100
• Birmingham based engineer IMI plc (LON:IMI)

Pets at Home Group PLC (LON:PETS)’s full year revenue rose 6.6% to £1.4bn. In the core retail business, like-for-like growth was up 7.5% with revenue of £1.3bn. Sales were a record for the group

• Yesterday we heard that core inflation had risen to 6.8%, raising interest rate expectations.
• The swaps market is pricing in three or possibly four more rate rises to a peak of around 5.5% – up

Close Brothers Group plc (LON:CBG), the UK merchant banking group, has issued an update on trading in the third quarter of its financial year, covering the period from 1 February to 30 April 2023

• The International Organization of Securities Commissions which regulate financial markets unveils 18-point plan to put guardrails around crypto investing.
• Bitcoin rises as proposals propel

In his Daily Market Notes report to investors, Louis Navellier wrote:

Climbing Wall of Worry

S&P 500 climbed the wall of worry and briefly broke 4,200 this morning.

Despite the unresolved

Look ahead to FTSE 350, other companies reporting & economic events from 22-26 May

• Can the AI boom help NVIDIA Corporation (NASDAQ:NVDA) buck the chip slowdown?
• How will cost pressures

Key Points

• Canoo is crossing a major milestone and will begin production soon. 
• The company expects a 20K run rate by EOY this year, but cash reserves are dwindling. 
• Short interest is

• Early bird SIPP investors’ picks positive on global equities in the new tax year
• SIPPs are for the long term, so higher short-term volatility is less of an issue
• Equities typically provide