Fund outperforms benchmark in 2023Dividend increases by 7% to 7.65pShares sit at 13% discount to NAVMid- and small-cap UK growth investor Mercantile Investment Trust (MRC) outperformed its benchmark in the year to 31 January, delivering a net asset total return of 4.5% and total shareholder returns of 6.1%.The dividend was increased by 7% for the year to 7.65p per share, comfortably covered by rev

French conglomerate flags slowdownAsia Pacific disappointsGucci turnaround remains uncertainEuropean luxury stocks were marked down on Wednesday after French conglomerate Kering (KER:EPA) warned its first-quarter sales were expected to tumble by 10%, dragged down by its flagship brand Gucci which is in the early stages of a turnaround.Kering shares plunged 15% to ?362.3 in early Paris trading on t

Out of more than 3,500 regulated investment funds in the UK industry VT Argonaut Absolute Return (B7FT1K7) says to ?the best of its knowledge? it is the only one to have delivered double-digit returns for the last five years in a row.The fund?s performance over the past year is particularly eye-catching, returning more than 30% to investors. Since launch in 2009 the fund has achieved a return of 2

Post-Christmas updates from the industry demonstrate that not all luxury goods companies are created equal, with sector players experiencing contrasting fortunes as the post-pandemic boom normalises and well-heeled shoppers prove more selective.On 25 January, the world?s largest luxury goods group LVMH (MC:EPA) confounded investors? gloomy expectations by delivering better-than-expected fourth qua

Pre-tax profits for the year expected to be 10% below market forecastsPre-Christmas retail trading challengingDemand for core pawnbroking at ?record levels?Shares in H&T (HAT:AIM) were down over 17% to 329p in morning trading despite the UK?s biggest pawnbroker reporting a ?robust? performance in the fourth quarter of the year.Aggregate lending in 2023 amounted to £260 million, an increase of 19%

London?s FTSE 100 ended in the green on Thursday, though its gains fell short of the loftier progress delivered by European peers, as equity markets recovered from Wednesday?s sell-off.Central to the drab mood in markets has been the dialling back of Federal Reserve rate cut expectations. Though a Fed cut in March is still the most likely scenario, the odds of one have dwindled in recent days, and

Stock prices were more stable at midday Thursday after Wednesday?s decline and ahead of the weekly US jobless data.The FTSE 100 index was up 10.95 points, 0.2%, at 7,457.24. The FTSE 250 was up 146.84 points, 0.8%, at 19,011.21, and the AIM All-Share was up 1.96 points, 0.3%, at 740.76.The Cboe UK 100 was up 0.3% at 745.29, the Cboe UK 250 was up 0.7% at 16,429.45, and the Cboe Small Companies was

Shares fell 30% in morning tradingFull year 2024 guidance revised downwardsBlames challenging macro-economic conditionsShares in Watches of Switzerland (WOSG) were down as much as 30% at one point in morning trading to 408p as the luxury watch-to-high end jewellery retailer said volatile Christmas trading and post-Christmas trading had a knock-on effect for full year 2024 revenue.The Rolex seller

Stock prices in London opened little moved on Thursday as investor mood remained cautious after Wednesday?s stark falls amid the surprise uptick in UK inflation, and the evolving outlook for US rate cuts.The FTSE 100 index opened down 6.72 points, 0.1%, at 7,439.57. The FTSE 250 was up 0.41 of a point at 18,864.78, and the AIM All-Share was down 0.35 of a point at 738.45.The Cboe UK 100 was flat a

There were several trends in the UK stock market this year which, if you managed to identify them, served you well.Most obviously, although it may not have seemed it at the index level, large-cap stocks generally performed better than small- and mid-caps, although for the lucky few the small-cap space has been rife with takeover activity.In terms of sectors, aerospace and defence topped the FTSE 3

Major indices make biggest gains since JanuaryDriven by hopes that inflation and interest rates have peakedMid-cap FTSE 250 beats blue chip indexNovember was a great month for risk assets with major stock indices racking up their biggest gains since January. The German Dax was the leading European index, gaining close to 10% while the UK blue chip FTSE 100 was a laggard notching up a 2% gain.The d

Global spirits leader Diageo's (DGE) shares plunged last week after the Johnnie Walker whisky maker warned on first half profits amid worsening sales in the Latin American and Caribbean region, where macroeconomic pressures have resulted in lower consumption and 'consumer downtrading'.Diageo's shock earnings alert, combined with the slower growth now being experienced by other high-end product pur

The FTSE 100 was held back by miners and oil firms on Tuesday, while other stocks finished on the up, amid a slight recovery for the dollar.The FTSE 100 index closed down 7.72 points, 0.1%, at 7,410.04. The FTSE 250 ended up 14.24 points, 0.1%, at 17,761.71, and the AIM All-Share closed up 0.75 of a point, or 0.1%, at 698.63.The Cboe UK 100 ended down 0.2% at 739.72, the Cboe UK 250 closed up 0.1%

Shares jump on plan to more than double sales and profitFirst half sales up 3%Full year guidance maintainedLuxury watch retailer Watches of Switzerland (WOSG) has revealed an ambitious plan to more than double profits by 2028 overshadowing a resilient second quarter and boosting the shares by almost a tenth to the top of the FTSE 350 leader board.The shares have roughly halved this year after a sl

London's FTSE 100 opened a touch lower on Tuesday, with gains for Primark owner Associated British Foods and Sports Direct operator Frasers Group offset by declines in oil stocks, miners and RS Group.The mood in equities was subdued, with some hawkish words from a US central banker unnerving investors.Over in Zurich, UBS shares rose despite a swing to loss after it said it has 'stabilized Credit S

No time to panic following Bucherer buyUS growth rate to reassure investorsRetailer should reiterate 2024 guidance2023 has proved a tough time for shareholders in Watches of Switzerland (WOSG) with almost 40% swiped from the luxury watch-to-high end jewellery retailer's market value amid growth slowdown concerns and a negative reaction to key brand Rolex's acquisition of its retail partner Buchere

Directors bought almost £900,000 of stock on 1 SeptRolex purchase of Bucherer hit shares hardWatches of Switzerland still has substantial growth opportunityIt has been a rough few weeks for investors in Watches of Switzerland (WOSG), whose shares plunged after Swiss luxury watch-maker Rolex agreed to buy retail partner Bucherer, one of Watches of Switzerland's rivals.The surprise move raised fear

August is a quiet period for UK retail reporting, but the month proved volatile for the share prices of three shopkeepers as investors reacted to the negative read-across from corporate activity and updates from the US retail sector.Watches of Switzerland's (WOSG) shares plunged 27% to 499p on 25 August, a record one-day move, after Swiss luxury watch-maker Rolex agreed to buy retail partner Buche

Despite coming under selling pressure from the slightly hawkish words of Federal Reserve Chair Jerome Powell this afternoon, the FTSE 100 closed in the green on Friday.The FTSE 100 index edged up 4.95 points, or 0.1%, at 7,338.58. The FTSE 250 shed 63.55 points, 0.4%, to 18,131.02, and the AIM All-Share slipped 0.85 of a point, 0.1%, to 733.67.For the week, the FTSE 100 added 1.1%, both the FTSE 2

The FTSE 100 pushed higher at midday on Friday, as investors hoped to learn more about the future of interest rates at US Federal Reserve Chair Jerome Powell's address at Jackson Hole later in the day.The FTSE 100 index was up 35.67 points, or 0.5%, at 7,369.51. Meanwhile, the FTSE 250 was up just 3.12 points at 18,197.69, and the AIM All-Share was virtually flat at 734.50.The Cboe UK 100 was up 0