Strong backdrop for future demand But contracts shift to the right Co-founder Clark to take career break Defence sector-focused engineering consultancy RC Fornax (RCFX:AIM) has committed the cardinal sin in investors' eyes by delivering a damaging revenue warning just months after joining the stockmarket via an IPO (initial public offering) priced at 32.5p per share. Issuing a revenue or...

TM Redwheel UK Equity Income Fund (BG34293) 124p Assets: £501 million Managed by the duo of Ian Lance and Nick Purves, the TM Redwheel UK Equity Income Fund (BG342C6) is the spiritual successor to the pair's former five-star-rated income fund which they ran at Schroders (SDR) more than 15 years ago. With a similar brief, to generate income and capital growth in excess of the FTSE All Share...

Mark Hawtin, head of Liontrust global equities team: 'We can understand why markets have reacted as they have because, if fully enacted, the tariffs have far-reaching impacts and many unintended consequences. Trump is single-handedly meting out huge cost problems on the iconic brands created in the US.' Ben Conway, chief investment officer and head of fund management at Hawksmoor Investment...

In late February, when we ran our screen of the UK's biggest five-year laggards, investment management firm Schroders (SDR) was one of the worst FTSE 100 performers with its shares languishing 33% below their pre-pandemic level.Last week, the firm surprised the market not only by beating forecasts with its 2024 result but by unveiling a three-year strategic plan to return to profitable...

The FTSE 100 lagged European peers on Thursday, after a perceived 'hawkish' rate cut by the European Central Bank drove the euro higher.Dan Coatsworth, investment analyst at AJ Bell said there wasn't any bad news to cause a minor sell-off.'It's just one of those days where investors reassessed their portfolios given the uncertain economic and geopolitical backdrop,' he noted.The FTSE 100 index...

Blue chip stocks in London and Paris were lower at midday Thursday, but up a notch in Frankfurt amid hopes of big investments from the incoming German government.The European Central Bank 'is expected to cut rates having been given a freer hand as inflationary pressures have eased,' AJ Bell's Russ Mould noted.The FTSE 100 index was down 82.84 points, 1.0%, at 8,673.00. The FTSE 250 was down...

Stock prices in London were mostly higher at midday Tuesday as US voters are choosing their next president, as data showed UK service sector growth softened but outperformed its flash reading in October.The S&P Global UK services purchasing managers' index declined to 52.0 points in October from 52.4 in September, but beat the flash score of 51.8 points. The PMI composite output index fell to...

Expects Scottish Widows legacy costs of £8 billionInstitutional clients losses of circa £2 billionYear-to-date Schroders shares fall 24%Schroders (SDR) shares fell over 12% to 319p in morning trading despite the fund management group reporting record total AUM (assets under management) of £777.4 billion for the nine months to 30 September.There were positive net flows in the fund management...

Trust lags FTSE All ShareBurberry and Diageo dragNAV down 3.2% in AprilNick Train, manager of the popular Finsbury Growth & Income Trust (FGT), has apologised to shareholders for the trust's 'poor investment performance' not only over the past six months but over three years.The manager also acknowledged the 'growing impatience' from the shareholders.Train's apology comes after the trust...

We have covered the issue of diversification many times this year in light of the extreme levels of concentration in US equities, where the top 10 stocks by market weight now account for a record 31% of the S&P 500 index.This in turn means the US now makes up 63% of the MSCI All-Country World Index as of the end of October, so even investors who take a global approach are holding lots of US...

Deal sees veteran Pease bow outConsolidation gathering paceListed UK firms could be vulnerable to takeoversCompetition for customers and the need for economies of scale are driving another round of consolidation in the UK wealth management industry with the announcement this week of yet another deal.Yesterday it emerged that hedge fund Lansdowne Partners had agreed to acquire equities...

Rathbones (RAT) £19.10Loss to date: 10%We recommended wealth management outfit Rathbones (RAT) in April 2022 as a read-across from RBC's £1.6 billion bid for UK asset manager Brewin Dolphin, but since then things have been extremely quiet on the UK corporate front.Financial firms in general have had a rough ride of late, and it is no reflection on Rathbones that its shares are 10% lower...

According to fabled US stock market trader Jessie Livermore 'the big swings make the big money'.Livermore was used by Edwin Lefervre as the basis for the character of Larry Livingstone in his investment classic Reminiscences of a Stock Operator. The bestselling book, dedicated to his memory, was published a century ago but this same truth of the importance of the big picture is evident in the...

Fundsmith Equity (B4Q5X52), Terry Smith's flagship fund with over £22 billion of assets, is looking at its first annual loss since it was launched in November 2010.For the 11 months to the end of November 2022, the total return for the T Class Accumulation shares was -15.1% compared with a 2.8% loss for global equities (as measured by the MSCI World index in sterling), a 12.9% loss for...

- Net asset value (NAV) slides 5.8%- Second consecutive year of underperforming the benchmark- Train shows confidence by buying sharesNick Train-managed Finsbury Growth & Income Trust (FGT) suffered a disappointing 5.8% slide in its net asset value total return for the year ended 30 September 2022.This represented a second consecutive year of underperformance against the benchmark FTSE...

There have been few hiding places for investors in 2022 and to make matters worse, bonds which have historically provided some protection, have clocked up double-digit percentage losses.This means traditionally conservative 60/40 portfolios, a bedrock of many retirement pots, have suffered losses for the first time since 2008.The Bloomberg 60/40 index is down around 10% year to date while the...

- Higher borrowing costs causing delay- Profits to miss consensus by around 10%- Questions over strength of investor demandCompounding the current negative sentiment towards house builders, build-to-rent and student accommodation developer Watkin Jones (WJG:AIM) warned investors that earnings would miss market forecasts due to slower than expected second-half sales.The shares, which had...

- Company faces $75 million of 'immediate obligations'- Warnings over financing date back almost a year- Potential rescue offer depends on interim financingShares in oil services group Lamprell (LAM) cratered 80% to 4.6p after it warned it faced 'severe liquidity constraints' and wouldn't meet its short-term obligations without emergency funds.Specifically, the firm has $75 million of...

Having initially underestimated how 'sticky' it would be, and faced with the added impetus of soaring energy prices due to the invasion of Ukraine, central banks around the world are being forced to hike rates to stop inflation rising, even at the risk of choking off growth.The latest inflation figure from the US was worse than expected, proving again that interest rates are a blunt tool when...

Despite posting a strong finish to 2021 and forecasting strong trading this spring and summer, theatre operator Cineworld (CINE) is still the most-shorted UK stock according to daily data from the FCA (Financial Conduct Authority).Short sellers are also targeting other companies which are dependent on discretionary spending such as retailers.LIGHTS OUT?Sifting through the FCA data its is clear...