Hopes of a 'V-shaped' recovery in the UK stock market look to be fading as shares continue to take a beating, while dividend wipe-out across the market continues. The benchmark FTSE 100 index opened 3.7% down at 5,602 this morning, with investors hopes also dented by a warning from the Bank of England that the UK economy is set for long-term damage as a result of the coronavirus ...

UK stock markets stayed virtually flat at the start of a relatively quiet Wednesday with investors having relatively thin corporate news to provide direction and eyes firmly being fixed on the imminent signing of an initial US-China trade deal. US Treasury Secretary Steven Mnuchin said tariffs on Chinese goods would not be repealed until the completion of a Phase 2 agreement, planting some ...

UK stocks trod water at the opening following gains overnight in Asia and in Friday’s trading in New York. After finishing up more than 100 points or 1.4% on Friday, the FTSE 100 index of leading stocks slipped 0.1% to 7,230. The week ahead sees the UK hold its third election in four years as well as interest rate decisions from the European Central Bank (ECB) and the US Federal Reserve ...

Investors in LF Woodford Equity Income Fund (BLRZQ62) will have to wait until at least December before they can access their money. Buying and selling in the fund has been suspended since 3 June and will stay that way until later this year while fund manager Neil Woodford restructures the portfolio to focus mainly on large and mid-cap stocks in the FTSE 100 and FTSE 250 indices. Analysis of ...

At 502.6p shares in sub-prime lender Provident Financial (PFG) may be in recovery mode after it successfully fought off a hostile takeover by smaller rival Non-Standard Finance (NSF) but there are several reasons why investors should not get carried away. Non-Standard is walking away having failed to secure the regulators’ approval for the deal. However, there remain question marks over ...

Shares in sub-prime lender Provident Financial (PFG) surge 14% higher to 504p after Non-Standard Financial (NSF) drops its hostile takeover due to the regulatory capital requirements of the enlarged group. It has become apparent that because of the low level of acceptances, and large majority interests, the enlarged group would not meet it capital requirements. Shareholders opposing the ...

The FTSE 100 has opened 0.44% higher this morning to 7,246.24 following a rally in global stock markets overnight, but the big news has come from the FTSE 250. Shares in doorstep lender Provident Financial (PFG) have continually climbed in early morning trading and are now up over 10% to 490p after smaller rival Non-Standard Finance (NSF) ended its hostile takeover bid. Provident’s board ...

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 ...

The FTSE 100 is flat in early trading at 7,418.37 as investors await the start of the US first quarter earnings season with JP Morgan and Wells Fargo set to report later. Contracts-for-difference broking house Plus500 (PLUS) tumbles 36% as its first quarter revenue plunges 82%, owing to 'extremely subdued' trading in financial markets. Bus and train company National Express (NEX) gains ...

Retail shareholders in Provident Financial (PFG) might have been jumping for joy initially at the news that the company has received a bid, but on closer inspection there’s little to get excited about. Subprime lender Non-Standard Finance (NSF) has made an all-share offer which values Provident at no more than last night’s closing price of 511p. Provident shareholders are being ...

Investors have a couple of interesting takeovers to concentrate on in early trade on Friday as lender Provident Financial (PFG) and Cathedral City cheese maker Dairy Crest (DCG) recommend bids to shareholders. Provident, the £1.3bn business behind Vanquis credit cards, accepts a £1.3bn offer tabled subprime lending peer Non-Standard Finance (NSF). Interestingly, NSF was founded in 2014 by ...

News of Chinese stimulus helps support the FTSE 100 as investors await the outcome of today's crunch vote on Brexit later. Theresa May's draft deal is widely expected to be voted down. The FTSE 100 is currently 0.2% higher at 6,867.15, though the more domestic-facing FTSE 250 reverses earlier gains to trade 0.2% lower. House builder Persimmon (PSN) dips 1% to £22.07 as it guides for annual ...

UK and European are ending the week on a mixed note after the Dow Jones Industrial index dropped 300 points overnight on global growth fears. The FTSE 100 managed to nudge up 0.2% to 7,042. At one point last night the US benchmark was down more than 470 points while the CBOE Vix Index or ‘fear gauge’ jumped 15% as investors took a view that volatility in US stocks is set to rise. A ...

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 ...

Reports that Amazon could enter the insurance price comparison market have spooked investors in three UK-listed companies active in this space. Shares in GoCompare (GOCO), Moneysupermarket (MONY) and Confused.com owner Admiral (ADM) fell hard at the UK market open in response, although their losses have since been pared back. GoCompare initially slumped by nearly 10% but the losses have ...

Beleaguered sub-prime lender Provident Financial’s (PFG) annus horribilis may be behind it. Shares reported on the ‘green shoots of recovery’ here and Tuesday’s half year results have sparked a positive response from the market. Its share price is up 15.2% to 710.6p, albeit still a long way off the £32.50 it was trading at before disaster struck its business. On the face of it ...

Oil giant BP (BP.) beat second quarter profit expectations after it unveiled $2.82bn compared to forecasts of $2.6bn. That’s four times the amount it reached last year, boosted by higher oil prices. Investors like the encouraging figures, bidding shares in the group marginally higher in early trade on Tuesday, the stock up 0.7p to 566.2p. More good news for shareholders comes on the income ...

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 ...

When Provident Financial (PFG) lost 70% of its value last August, it was the biggest one day fall in FTSE 100 history. In a strange event for the-now FTSE 250 company, its value soared by 70% on 27 February 2018 when the company revealed its Financial Conduct Authority (FCA) fines were not as high as expected. Since then, its shares have been moving wildly up and down. So why are the shares ...

The latest update from Provident Financial (PFG) suggests the company may have turned a corner and is on the way to recovery. The market was buoyed by the statement with the company’s share price gaining 8.2% to 694.8p, although let’s put that in some context. On 22 August last year, Provident’s share price collapsed by 70% as the restructuring of its home credit business was a ...