Inchcape (INCH)

Many people in the UK are eagerly waiting to discover what their investment in the Woodford Income Focus (BD9X6V3) fund will look like under the new management of Aberdeen Standard Investments (ASI). The fund has been suspended since October 2019 and dealing is expected to recommence in the coming weeks under the new name of LF ASI Income Focus. While the details of the restructured ...

Shares in motor retailer Lookers (LOOK) careered downhill in early trading, losing 13% to 43p after the firm halved its full-year profit target due to weak sales in the third quarter. In a trading update for the nine months to 30 September the company said that while the first half had been ‘challenging’, and that it had expected a tough second half, ‘trading has been much more ...

Britain’s automotive industry has stalled as low global demand and weak domestic consumer confidence weigh on sales, profits and sentiment. Disruption is impacting the global car industry and many of the businesses whose fortunes are tied to the automotive sector are in for a very bumpy ride. Yet those able to adapt to the shifting landscape could see exciting times down the road. In this ...

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 ...

Despite the headwinds facing the UK new car market, Vertu Motors (VTU:AIM) managed to trade in line with market expectations during an exceptionally difficult year ended 28 February 2019. So why then, are the lately unloved shares in reverse today, marked down 4.1% to 37p? The negative catalysts appear to be management’s understandable caution on the outlook ahead of Brexit, as well as ...

We think the generous and growing income on offer from Murray Income Trust (MUT) coupled with its focus on quality companies at an attractive price will prove a winner with investors. The investment trust offers a dividend yield of 4.3% and has grown its dividend in every one of the last 45 years. Like all closed-end funds, Murray can hold back cash to act as a buffer if its underlying ...

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now. There are rising concerns over the state of the US economy, and whether after a number of relative boom years, slowing growth might lead to a recession. Interest rates are rising, inflation is emerging and there ...

UK stocks open firmer after a positive showing on Wall Street overnight led by techology stocks and a small rebound in Asian equities. Leading the FTSE100 higher in terms of contribution to the index are heavyweight oil producers BP (BP.) and Royal Dutch (RDSB) together with Asian-exposed banks HSBC (HSBA) and Standard Chartered (STAN). TRICK OR TREAT Standard Chartered shares put on ...

Cigarette and nicotine products company British American Tobacco (BATS) puffs up 4.4% to £41.48 on news its revenue increased by 56.9% to £11.6bn on a year-on-year basis. The company’s chief executive Nicandro Durante says he is ‘confident’ that the company can exceed £1bn of revenue in its non-cigarette products as it seeks to diversify its product range. Molten metal engineering ...

Snaring a bargain can be very satisfying in any aspect of life and when it comes to the stock market increasingly lucrative too. There are signs that value is starting to come back into fashion following several years when investors were focused on companies delivering growth with little regard for valuation. Growth investors look to snaffle out stocks where there is potential for ...

The FTSE 100 is up 0.3% to 6,940.38 in early trading on Monday, helping to repair a little of the damage after a testing week for the index. Corporate news is largely dominated by M&A activity as packaging firm Smurfit Kappa (SKG) rejects a sweetened near €9bn offer from US rival International Paper. Its shares tumble 4.8% to £29.12 in response. Engineering firm GKN (GKN) is forced ...

Listed companies with strong competitive positions typically have pricing power, which in turn enables them to generate healthy margins and crucially, strong cash flow. This cash can be returned to shareholders through two mechanisms, dividends and share buybacks. Such capital allocation decisions are amongst the most important decisions management teams make on behalf of shareholders. Yet ...

Multi-brand car distributor and retailer Inchcape’s (INCH) sales sped 14.6% higher to £2.3bn in a strong third quarter, the top line boosted by weak sterling and a South American distribution acquisition made at the end of 2016. Stripping this deal out, revenues still rose 9.4% higher. Inchcape grew in all regions, notably in emerging markets. This performance demonstrates the advantages ...

UK bank Barclays (BARC) reports a 19% jump in third quarter pre-tax profit as a weak trading performance in its investment banking business dragged down group results. The bank posts a worse-than-expected figure of £1.1bn for the three months to 30 September, dragging the shares to among the FTSE 100’s worst performers in early trading on Thursday. The stock falls 5.2% to 186.7p. Barclays ...

Motor retail giant Pendragon (PDG) warns full year profits will come in at around £60m this year. That is more than 20% down on the £75.4m made in 2016 and triggers a 17.2% share price crash to 24p. Nottingham-headquartered Pendragon has been hit by a slump in demand for new cars amid waning consumer confidence, as well as a consequent price correction in the used car market. In a ...

Steel-to-mining giant Evraz (EVR), the largest coking coal producer in Russia, rises 5% to 241.9p on strong full year results, reflecting a surge in the coking coal price as well as cost-cutting initiatives. CEO Alexander Frolov remains ‘cautiously optimistic about the market environment’ and believes Evraz will generate resilient free cash flow and further decrease leverage during ...

Quoted motor retailers’ shares have fallen heavily along with other domestically-exposed names following the vote for Brexit. Investors are pricing in a softer outlook for the industry, which already appeared to be cooling having enjoyed a sustained boom in new car sales. The Society of Motor Manufacturers and Traders (SMMT) is forecasting new car registrations to fall by 5% in 2017. But there ...

A £234m acquisition expanding its South American business ignites the share price of global premium car dealer Inchcape (INCH), which accelerates 5.1%, or 32.5p, to 674.5p on the positive news. Consistent with CEO Stefan Bomhard's 'Ignite' strategy, the takeover of a high-quality South American car distribution business, focused on Subaru cars and Hino commercial vehicles, from Avayu family-run ...

UK shares face another pre-holidays lull on Thursday with investors lacking the appetite to drive London shares one way or the other. The FTSE 100 nudges a modest 6 points or so lower at 7,035, staying making a pre-Christmas close above the 7,000 mark more likely. In a quiet day for corporate news car dealer Inchcape (INCH) has agreed to pay £234m in cash to acquire a Subaru and Hino ...

Two more big profit warnings hit the FTSE 350 mid cap index on Thursday as industrial textiles business Berendsen (BRSN) and engineer Amec Foster Wheeler (AMFW) see their share prices crushed because of weak trading. Updates from Berendsen and Amec were delivered after a weak trading session overnight in the US and Asia though UK stocks opened the day flat at around 6,952 with roughly half ...