Shares News

Net assets have reached an all-time high at capital preservation-focused investment trust RIT Capital Partners (RCP), topping £3bn for the first time as of 30 June 2019. Having preserved capital during a turbulent 2018, the portfolio’s winning strategy enabled it to generate healthy returns over the first six months of 2019 too, although founder Lord Rothschild strikes a cautious tone in his ...

Heavy selling on Asian markets and escalating trade tensions lead to second day straight of large losses across UK stock markets in early trade on Monday. Just mining group Fresnillo (FRES) and British Airways-owner International Consolidated Airlines (IAG) make positive moves across the whole FTSE 100, which slumps more than 100 points, or 1.35%, to 7,307.00. Leading the sell-off is grocery ...

Sirius Minerals (SXX) could be dealt a blow in financing its Woodsmith polyhalite mine in Yorkshire if reports are to be believed. Bloomberg has reported provisional guidance for the $500m bond it launched in July at a 13.5% coupon, the annual interest yield investors will get on their bonds. This is far higher than the original 10% to 12% yield that Sirius expected, and would place ...

Government-backed lender Royal Bank of Scotland (RBS) has warned that it was ‘very unlikely’ to meet its 2020 financial targets. While the bank maintained its 2019 outlook it admits that it is very unlikely that it will hit its tangible equity returns target of more than 12% or get below 50% cost-to-income ratio in 2020. ‘Given market conditions, continued economic and political ...

UK telecoms giant BT (BT.A) has reported first quarter to 30 June results showing widespread declines in profit and cash flow and inevitable hikes in capital expenditure (capex). Revenue eased marginally from £5.72bn to £5.63bn (about 1.4% down) while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell similarly to £1.96bn, having reported £1.98bn this time ...

The FTSE 100 fell a whopping 1.7% with a 134 point drop to 7,450 following a whole host of bad news across the world. After the Bank of England cut its growth forecast for the UK as it warned of the dangers of a no-deal Brexit, US president Donald Trump again used Twitter to move markets, announcing a fresh 10% tariff on another $300bn of Chinese goods, which effectively means all Chinese ...

Shares in Majestic Wine (WINE:AIM) jumped 1% to 262p on news that its physical stores had been sold to private equity group Fortress for £95m. A separate sale of one freehold property will realise a further £5m subject to it receiving planning approval for the redevelopment of the site. If the sale is voted through the transaction will represent a coup for Naked Wine boss Rowan ...

Global medical products and wound care company ConvaTec (CTEC) said that it saw an improving revenue trend in the second quarter with growth of 2.1% and confirmed it was on track to meet full year guidance, giving the shares a 15% boost to 180p. For the first half to 30 June, the company’s reported revenues of $889m were 3.5% below last year, but excluding a one-off provision and adverse ...

UK markets were weaker on Thursday with the FTSE 100 down 0.5% to 7,545 despite a much-anticipated cut in US interest rates overnight. The major US stock indices lost more than 1% after the chairman of the US Federal Reserve said that the 0.25% rate cut did not mark the beginning of a lengthy easing cycle. The Hong Kong central bank cut rates by 0.25% in line with the Federal ...

Shares in pest-control firm Rentokil Initial (RTO) hit their highest level since before the dot.com boom 20 years ago after the company said first half organic revenue grew at its fastest rate in over a decade, beating its medium-term target. That sparked a fresh wave of investor buying, sending the share price up more than 5% to 433p. The stock has only once before been higher, hitting ...