Latest news with #PeelHunt
CNBC
5 days ago
- Business
- CNBC
As Trump visits Scotland, the UK looks to settle some unfinished business
As U.S. President Donald Trump visits Scotland this week, the U.K. will be looking to further cement warm ties with the White House leader and to complete some important unfinished business. The president is due to visit two Trump-owned golf sites in Turnberry and Aberdeen between Friday and Tuesday, as well as one of his new golf courses that's set to open in August. He's also due to have an informal meeting with U.K. Prime Minister Keir Starmer and "refine" a recent U.S.-U.K trade deal, White House Press Secretary Karoline Leavitt told reporters last week. The deal between Washington and London centered on a 10% baseline tariff on British goods arriving in the States, while also setting certain quotas and exemptions for autos and aerospace exports. While the "deal" kicked in on June 30, there are parts of the pact that remain in the "commitment" stage. One of them is the pledge to remove the 25% tariff on UK steel and aluminum — the rest of the world was hit with a 50% duty — with the U.K. needing to ensure that British steel imports are "melted and poured" domestically and don't originate in China. There are also ongoing, thorny discussions over a digital services tax that hits tech companies even if they're not headquartered in the U.K., which Washington wants removed. As such, while the U.K. is in a better position than many of its peers, particularly its neighbors in the European Union who are looking for a last-ditch trade deal before August 1, there is unfinished business. The question is where might we see some "give and take" in the U.S.-UK trade deal, Kallum Pickering, chief economist at Peel Hunt, told CNBC on Wednesday. "Of course, the U.K. would probably like the steel and aluminium tariffs to go down. And the U.S. has a bit of an issue over the digital services tax, so it's possible that that's just an easy deal," he said, adding that there could be some specific headline announcements when Trump and Starmer meet. "Anything that puts a positive spin on U.K.-U.S. relations in context of this [wider] August 1 deadline, probably at the margin, is actually positive for the U.K., even the deal itself is not a good one. We wouldn't sit here look through the detail and say, 'Oh, this is a brilliant trade deal,' it's just in context, actually, it doesn't look too bad," Pickering noted. While they're unlikely bedfellows politically, Republican Trump appears to get on well with Starmer, who heads a center-left government. When the leaders appeared in a jovial mood together at the Group of Seven summit in June, Trump was asked whether Britain would be protected from further tariffs. "The U.K. is very well protected. You know why? Because I like them. That's their ultimate protection," Trump responded. Ahead of this latest meeting with Starmer, the U.S. president said talks with the British prime minister would take place "probably one of my properties" in Aberdeen. The White House has yet to publicly confirm that detail, however. The Scotland trip comes ahead of a state visit that Trump and First Lady Melania Trump will make in Sept. 17-19, the White House said, noting that the president was "honored" and looking forward to meeting King Charles and Queen Camilla at Windsor Castle in the early fall.
Daily Mail
16-07-2025
- Business
- Daily Mail
Bloomsbury shares rise as analysts eye next Sarah J. Maas novel
Shares in Bloomsbury rose on Wednesday as the publisher told investors best-selling novelists Sarah J. Mass and J.K. Rowling would continue to drive profitability this year. Fantasy novelist Maas topped bestseller lists again in the UK and US with the paperback launch of House of Flame and Shadow in June, helping to nab Bloomsbury the Publisher of the Year crown at this year's British Book Awards. The popularity of Mass' work has become a major driver of sales at Bloomsbury, which is best known for Rowling's Harry Potter series. Rowling's Pocket Potters series is set to hit shelves in August and Bloomsbury told shareholders on Wednesday is has 'a strong front list in the remainder of the year'. Bloomsbury's academic publishing unit has also shown progress following the 'game-changer' acquisition of Rowman & Littlefield earlier this year. It expects full-year results to be in-line with market expectations of £335.9million in revenues and £41.86million in profits before taxation and highlighted items. Fantasy novelist Maas topped bestseller lists again in the UK and US with the paperback launch of House of Flame and Shadow in June The group said: 'We continue to execute our Bloomsbury 2030 vision focused on our growth, portfolio and people. 'The resilience of our business created through the portfolio of portfolios strategy underpins the confidence our Board has in the future.' Bloomsbury Publishing shares were up 3.7 per cent to 505p in early trading. They were dealt a blow in May after the group posted weaker profits. Another Maas novel to lift earnings? Analysts at Peel Hunt expect academic performance to remain 'subdued in the near term' but think Bloomsbury's consumer arm could boost shares over the next year. Jessica Pok and Melanie Yang wrote in a note on Wednesday: 'Bloomsbury made no reference to a new Sarah J. Maas title in today's statement. 'However, the author revealed on social media last week that the first draft has been completed. 'Her Instagram post has garnered 835k likes and 35k comments in just four days. 'The publisher has not yet issued an official announcement regarding the book or its release date. For context, House of Flame and Shadow was published roughly 10 months after its formal announcement. 'While a FY26 release remains possible, we believe FY27 is a more realistic timeline. 'The book has the potential to add c.£9million to FY27E EBIT, representing a 20 per cent uplift to our current forecasts.' Peel Hunt holds a target price for Bloomsbury shares of 815p – roughly 60 per cent ahead of their current value.
Business Insider
12-07-2025
- Business
- Business Insider
Positive Report for Liontrust Asset Management (LIO) from Peel Hunt
Peel Hunt analyst upgraded Liontrust Asset Management to a Buy yesterday and set a price target of p435.00. The company's shares closed today at p374.50. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. In addition to Peel Hunt, Liontrust Asset Management also received a Buy from Panmure Liberum's Rae Maile in a report issued on June 25. However, today, Deutsche Bank reiterated a Hold rating on Liontrust Asset Management (LSE: LIO). LIO market cap is currently £227.4M and has a P/E ratio of 14.89. Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LIO in relation to earlier this year.
The Independent
11-07-2025
- Business
- The Independent
FTSE 100 closes winning week on the back foot
London's FTSE 100 closed a winning week on the back foot after soft economic growth figures and threats of further tariffs from the US. 'The UK economy being stuck in the mud and the threat of high tariffs on Canada won't be a shock to markets, but they are hard to ignore,' said Dan Coatsworth, investment analyst at AJ Bell. 'After a strong start to the week, investors ran out of energy on Friday,' he added. The FTSE 100 index closed down 34.54 points, 0.4%, at 8,941.12. The FTSE 250 ended down 81.45 points, 0.4%, at 21,613.25, but the AIM All-Share rose 0.42 of a point, 0.1%, at 773.55. For the week, the FTSE 100 rose 1.3%, the FTSE 250 climbed 0.3% and the AIM All-Share was down 0.1%. Figures showed the UK economy shrank again in May, confounding expectations for a modest rise. According to the Office for National Statistics, UK gross domestic product fell 0.1% on-month in May. It followed a 0.3% fall in April from March. The economy had been expected to grow 0.1% in May, however, according to consensus cited by FXStreet. More positively, growth in March was revised up to 0.4%, from 0.2% before leaving GDP up 0.5% in the three months to May. Peel Hunt's Kallum Pickering said the 'material slowdown' in the second quarter did not come as a major surprise. 'First quarter activity was lifted by exporters increasing production ahead of anticipated US tariffs, as well as domestic homebuyers accelerating purchases ahead of the stamp duty rise on 1 April. 'Second quarter activity, meanwhile, is depressed by rising employment taxes and higher minimum wages, as well as increases in regulated prices for energy and water,' Mr Pickering said. But the softer-than-expected May suggests some downside risk to Mr Pickering's forecast that real GDP will expand by 0.2% quarter-on-quarter in the second quarter, he said. Goldman Sachs left its second quarter GDP forecast at 0.1% quarter-on-quarter but nudged its forecast for 2025 as a whole upwards to 1.2% from 1.1%, given the upward revision to March's figure. The data put sterling under pressure. The pound was quoted at 1.3503 dollars at the time of the London equities close on Friday, lower compared with 1.3561 dollars on Thursday. The euro traded higher at 1.1699 dollars, against 1.1679 dollars. Against the yen, the dollar was trading higher at 147.34 yen compared with 146.49 yen. In European equities on Friday, the CAC 40 in Paris closed down 1.0%, while the DAX 40 in Frankfurt ended 0.8% lower. Stocks in New York were lower at the time of the London close on Friday. The Dow Jones Industrial Average was down 0.7%, the S&P 500 index was 0.4% lower, and the Nasdaq Composite gave back 0.2%. Tariff nerves resurfaced as US President Donald Trump said the US will impose a 35% tariff on Canada at the start of August. The US president sent a letter to Canada late on Thursday, following an interview in which Mr Trump warned EU nations to expect a tariff announcement targeting the bloc 'today or tomorrow'. He said countries that had not received a letter from him would face tariffs of 15% to 20%. 'We're just going to say all of the remaining countries are going to pay, whether it's 20% or 15%. We'll work that out now,' Mr Trump told NBC News. Mr Trump's 'reciprocal' tariffs are currently set at 10%. The yield on the US 10-year Treasury was quoted at 4.41%, widening from 4.37%. The yield on the US 30-year Treasury was quoted at 4.93%, stretched from 4.88%. On the FTSE 100, BP advanced 3.3%. It guided a pick-up in upstream output in the second quarter, but also expects results to be hit by weaker commodity prices and impairments. The London-based oil major said it now expects upstream production for the second quarter that ended on June 30 to be higher against the first quarter, an improvement on its prior estimate for production to be broadly flat. In the gas and low carbon energy offering, realisations are expected to contribute a 100 million dollar to 300 million dollar hit, when compared with the first quarter, however. In oil production and operations, a chunkier hit in the range of 600 million dollars to 800 million dollars has been earmarked. The company noted 'production mix effects and the price lags on BP's production in the Gulf of America and the UAE'. 'There was a significantly higher level of turnaround activity' in its products segment, the company noted. 'The oil trading result is expected to be strong.' 'Finally some encouraging news from BP, with a 2Q25 outlook statement that should reverse the swath of negative revisions that consensus has made in recent weeks,' commented Citi analyst Alastair Syme. Further support came as Brent oil rose to 70.38 dollars a barrel at the time of the London equities close on Friday, from 68.89 dollars late on Thursday. A jump in the gold price boosted miners Fresnillo and Endeavour Mining, up 2.9% and 2.8% respectively, while on the FTSE 250, Hochchild Mining advanced 5.8%. Gold was quoted higher at 3,364.33 dollars an ounce against 3,320.06 dollars. Heading south, SSP fell 8.1% after UBS downgraded to 'sell' from 'neutral'. UBS believes weak volumes and lower near-term capacity put consensus forecasts at London-based operator of food and beverage outlets in travel locations at risk. The biggest risers on the FTSE 100 were Fresnillo, up 51 pence, at 1,516.0p, BP, up 13.3p, at 402.0p, Endeavour Mining, up 60.0p at 2,280.0p, British American Tobacco, up 81.0p at 3,788.0p and Aviva, up 10.6p at 627.0p. The biggest fallers on the FTSE 100 were JD Sports, down 2.96p at 87.6p, GSK, down 46.0p at 1,408.5p, WPP, down 12.6p at 420.8p, Smith & Nephew, down 33.0p at 1,122.5p and Croda International, down 82.0p at 2,978.0p. There are no significant economic events on Monday. The week picks up with US inflation figures on Tuesday and UK inflation and labour market data on Wednesday and Thursday.
Yahoo
11-07-2025
- Business
- Yahoo
FTSE 100 closes winning week on the back foot
London's FTSE 100 closed a winning week on the back foot after soft economic growth figures and threats of further tariffs from the US. 'The UK economy being stuck in the mud and the threat of high tariffs on Canada won't be a shock to markets, but they are hard to ignore,' said Dan Coatsworth, investment analyst at AJ Bell. 'After a strong start to the week, investors ran out of energy on Friday,' he added. The FTSE 100 index closed down 34.54 points, 0.4%, at 8,941.12. The FTSE 250 ended down 81.45 points, 0.4%, at 21,613.25, but the AIM All-Share rose 0.42 of a point, 0.1%, at 773.55. For the week, the FTSE 100 rose 1.3%, the FTSE 250 climbed 0.3% and the AIM All-Share was down 0.1%. Figures showed the UK economy shrank again in May, confounding expectations for a modest rise. According to the Office for National Statistics, UK gross domestic product fell 0.1% on-month in May. It followed a 0.3% fall in April from March. The economy had been expected to grow 0.1% in May, however, according to consensus cited by FXStreet. More positively, growth in March was revised up to 0.4%, from 0.2% before leaving GDP up 0.5% in the three months to May. Peel Hunt's Kallum Pickering said the 'material slowdown' in the second quarter did not come as a major surprise. 'First quarter activity was lifted by exporters increasing production ahead of anticipated US tariffs, as well as domestic homebuyers accelerating purchases ahead of the stamp duty rise on 1 April. 'Second quarter activity, meanwhile, is depressed by rising employment taxes and higher minimum wages, as well as increases in regulated prices for energy and water,' Mr Pickering said. But the softer-than-expected May suggests some downside risk to Mr Pickering's forecast that real GDP will expand by 0.2% quarter-on-quarter in the second quarter, he said. Goldman Sachs left its second quarter GDP forecast at 0.1% quarter-on-quarter but nudged its forecast for 2025 as a whole upwards to 1.2% from 1.1%, given the upward revision to March's figure. The data put sterling under pressure. The pound was quoted at 1.3503 dollars at the time of the London equities close on Friday, lower compared with 1.3561 dollars on Thursday. The euro traded higher at 1.1699 dollars, against 1.1679 dollars. Against the yen, the dollar was trading higher at 147.34 yen compared with 146.49 yen. In European equities on Friday, the CAC 40 in Paris closed down 1.0%, while the DAX 40 in Frankfurt ended 0.8% lower. Stocks in New York were lower at the time of the London close on Friday. The Dow Jones Industrial Average was down 0.7%, the S&P 500 index was 0.4% lower, and the Nasdaq Composite gave back 0.2%. Tariff nerves resurfaced as US President Donald Trump said the US will impose a 35% tariff on Canada at the start of August. The US president sent a letter to Canada late on Thursday, following an interview in which Mr Trump warned EU nations to expect a tariff announcement targeting the bloc 'today or tomorrow'. He said countries that had not received a letter from him would face tariffs of 15% to 20%. 'We're just going to say all of the remaining countries are going to pay, whether it's 20% or 15%. We'll work that out now,' Mr Trump told NBC News. Mr Trump's 'reciprocal' tariffs are currently set at 10%. The yield on the US 10-year Treasury was quoted at 4.41%, widening from 4.37%. The yield on the US 30-year Treasury was quoted at 4.93%, stretched from 4.88%. On the FTSE 100, BP advanced 3.3%. It guided a pick-up in upstream output in the second quarter, but also expects results to be hit by weaker commodity prices and impairments. The London-based oil major said it now expects upstream production for the second quarter that ended on June 30 to be higher against the first quarter, an improvement on its prior estimate for production to be broadly flat. In the gas and low carbon energy offering, realisations are expected to contribute a 100 million dollar to 300 million dollar hit, when compared with the first quarter, however. In oil production and operations, a chunkier hit in the range of 600 million dollars to 800 million dollars has been earmarked. The company noted 'production mix effects and the price lags on BP's production in the Gulf of America and the UAE'. 'There was a significantly higher level of turnaround activity' in its products segment, the company noted. 'The oil trading result is expected to be strong.' 'Finally some encouraging news from BP, with a 2Q25 outlook statement that should reverse the swath of negative revisions that consensus has made in recent weeks,' commented Citi analyst Alastair Syme. Further support came as Brent oil rose to 70.38 dollars a barrel at the time of the London equities close on Friday, from 68.89 dollars late on Thursday. A jump in the gold price boosted miners Fresnillo and Endeavour Mining, up 2.9% and 2.8% respectively, while on the FTSE 250, Hochchild Mining advanced 5.8%. Gold was quoted higher at 3,364.33 dollars an ounce against 3,320.06 dollars. Heading south, SSP fell 8.1% after UBS downgraded to 'sell' from 'neutral'. UBS believes weak volumes and lower near-term capacity put consensus forecasts at London-based operator of food and beverage outlets in travel locations at risk. The biggest risers on the FTSE 100 were Fresnillo, up 51 pence, at 1,516.0p, BP, up 13.3p, at 402.0p, Endeavour Mining, up 60.0p at 2,280.0p, British American Tobacco, up 81.0p at 3,788.0p and Aviva, up 10.6p at 627.0p. The biggest fallers on the FTSE 100 were JD Sports, down 2.96p at 87.6p, GSK, down 46.0p at 1,408.5p, WPP, down 12.6p at 420.8p, Smith & Nephew, down 33.0p at 1,122.5p and Croda International, down 82.0p at 2,978.0p. There are no significant economic events on Monday. The week picks up with US inflation figures on Tuesday and UK inflation and labour market data on Wednesday and Thursday. Monday's UK corporate calendar sees a trading update from investment manager, Ashmore Group. Contributed by Alliance News
