Amigo Holdings (AMGO)

The latest quarterly re-shuffle of the FTSE 100 threw up few surprises but there were several notable promotions and demotions in the mid-cap FTSE 250. Joining the top flight next quarter as expected are pharmaceutical firm Hikma (HIK), electrical and electronic kit-maker Meggitt (MGGT) and Russian precious metal miner Polymetal (POLY). Making way are under-pressure insurer Direct Line ...

UK stocks start Thursday trading on the front foot buoyed by a firm showing for US markets overnight, offsetting more trade tariff tightening that will see the US impose an extra $300bn burden on Chinese goods by the end of the year. The pound continues its decline as investors worry about Brexit no-deal implications, although comes as a boon for the FTSE 100, sidestepping the swathe of mid cap ...

If you are new to stock market investing you may still have heard of the FTSE 100. It frequently appears on TV news bulletins and in the papers, its relative direction up or down giving viewers/readers a steer as to how the UK economy is going and how optimistic, or not, investors feel about the nation’s prospects. By contrast, the FTSE 350 the has a very low profile and seldom gets a mention ...

It’s a fairly slow start for UK stock markets following the bank holiday weekend with attention very much focused on where European elections leave UK investors. The FTSE 100 opens the trading week up 19 point (about 0.2%) up at 7,296.73 while the midcap FTSE 250 makes modest single digit declines to around 19,118 in the wake of gains made across European markets on Monday and positive Asian ...

Investors liked plans by Apple to offer various new services including new TV, gaming and credit card platforms, sending its shares up 1.4% to $191.4. This move suggests it is trying new ways of growing earnings without being so reliant on sales of iPhones and its other consumer electronics products, which are slowing. While the company may be nearing saturation point with sales of tablets and ...

UK markets are starting to bounce back after yesterday’s Brexit calamity. The FTSE 250, which is considered the benchmark index for UK-focused companies, nudges up 0.2 points to 17,493, although that still leaves it trading well below the 21,324 year-to-date high. The FTSE 100 achieves a stronger lift, advancing 24 points to 6,746 off the back of gains in the mining and oil sectors, plus support ...

Maiden half year results from loan provider Amigo (AMGO) are getting a lukewarm reaction from the market with the shares down 1.1% to 262p. As a result, the shares are now 5% lower than the 275p issue price from its June IPO. There are no real nasty shocks in the numbers, which is probably a relief give the problems facing other firms in the sub-prime lending space. Notably Wonga which went ...

The summer stock market float of Amigo (AMGO) brought the UK’s best known guarantor loan company to the London Stock Exchange with a market cap of £1.3bn. Given the trouble of some companies in the sub-prime lending sector, notably Wonga, it is worth asking if all companies in this bracket, including Amigo, can be tarred with the same brush? Amigo’s chief executive Glenn Crawford is ...

The FTSE 100 is down 48 points to 7,514 as positive trading in the US fails to cross the pond to the UK. As the pound continues to make gains against the dollar, the overseas earning constituents of the main index feel the strain. FTSE 250 staffer Hays (HAS) is down 2.7% to 197.35p on release of its full year results. The company’s pre-tax profits grew by 17% to £238.5m and raised its core ...

One of the most well-known payday loan companies, Wonga, is understood to be in financial trouble following a surge in customer compensation claims relating to loans taken out before 2014. The situation is likely to result in increased regulatory pressure on the sector which includes several listed companies. Wonga’s problems are ‘very company specific’, relating to historically mis-sold ...

Lending to sub-prime candidates is big business but comes with equally big risks. High-profile problems with doorstep lender Provident Financial (PFG) may have reduced investors’ appetite for the sector, yet the stock market flotation of another loans business, Amigo (AMGO), is good reason to reappraise this space. Amigo has pioneered a new business model which keeps the interest charged within ...