|Bid||20.94 x 0|
|Ask||21.45 x 0|
|Day's range||20.99 - 20.99|
|52-week range||18.59 - 28.12|
|Beta (3Y monthly)||1.19|
|PE ratio (TTM)||32.00|
|Forward dividend & yield||0.37 (1.41%)|
|1y target est||N/A|
The HL Multi-Manager High Income fund sold the stake in the LF Woodford Income Focus fund this week, said Emma Wall, head of investment analysis Hargreaves Lansdown. Woodford’s fund had assets of 353 million pounds as of June 12, according to data compiled by Bloomberg. The sale is part of a U-turn by Hargreaves Lansdown, which had been a major backer of Woodford until he froze withdrawals from his flagship LF Woodford Equity Income Fund at the end of May. Chris Hill, the chief executive officer of Hargreaves Lansdown, has apologized to clients of the firm who were affected by Woodford’s decision.
Senior British lawmaker Nicky Morgan has asked UK fund supermarket Hargreaves Lansdown for information about its links to the Woodford fund suspended last week, a British parliamentary committee said on Tuesday. Treasury Select Committee chair Morgan has written to Hargreaves' CEO Chris Hill to ask about the firm's links to the Woodford fund, its inclusion on Hargreaves Lansdown's "Wealth 50" list, and to detail the number of its customers exposed to the fund, the committee said in a statement.
British politicians and regulators piled pressure on Neil Woodford following the suspension of his flagship fund a week ago, while investors pulled money from his other products and a major backer distanced itself from the frozen fund. Woodford Investment Management suspended its equity income fund on June 3, a rare move for a product aimed at retail equity investors, after a run of redemption requests. Morgan's comments came after Andrew Bailey, chief executive of Britain's markets regulator, the Financial Conduct Authority, said the suspension raised "important questions" about how illiquid investments should be regulated.
A mere two days after Woodford -- perhaps Britain’s most celebrated stock-picker -- stunned the world of finance by halting withdrawals from his flagship fund, his reputation is in tatters. The unraveling gathered pace on Wednesday as some supporters distanced themselves, with one key client who accounted for about 40% of assets at Woodford’s firm severing ties. What seemed like a sudden reversal of fortunes for the 59-year-old money manager has, in fact, been years in the making.
The radical step by the 59-year-old manager could further undermine investor confidence and piles pressure on his firm after assets tumbled in the LF Woodford Equity Income Fund. For many investors, the freeze is a reminder of the turmoil that followed the 2008 financial crisis, when some managers resorted to such extreme measures to safeguard holdings. Hargreaves removed the main Woodford fund, and another that his firm oversees, from its Wealth 50 list of favorites.
British fund supermarket Hargreaves Lansdown on Wednesday posted a 13.9% rise in assets in the first four months of 2019, boosted by market and new business gains. Hargreaves, which offers a range of financial services to largely UK retail customers, said a slow start to the year had picked up into April as clients looked to make use of their tax-free savings allowance before the end of the financial year. Total assets under administration at the end of April were 97.8 billion pounds ($126.26 billion), up from 85.9 billion at the end-December, it said in a statement.
Committees that check if employees get a good deal from their work pension should also consider how retirement schemes examine the impact of climate change on investments, Britain's markets watchdog proposed on Monday. Firms that have workplace pension schemes already have to set up an independent governance committee, or IGC, to check that members are not being ripped off by unfair transaction costs. The Financial Conduct Authority (FCA) is proposing to widen this remit to include a duty to report on environmental, social and governance (ESG) issues, consumer concerns, and how pension scheme providers select stocks and bonds to invest in, known as stewardship.
Shares (Berlin: DI6.BE - news) in British Gas owner Centrica (Frankfurt: A0DK6K - news) have fallen sharply after it warned 2019 financial performance would be hit by factors including the energy price cap. The FTSE 100-listed group was down 12% after it also revealed that it had shed 742,000 UK customer accounts last year in a "highly competitive" market. Centrica said profits at its UK home energy supply division were down by 19% to £466m for 2018, though the overall group's headline measure of adjusted operating profit was up 12% to £1.39bn.
Anglo American (LSE: AAL.L - news) reported on Thursday better than expected core earnings, driven by higher copper and coal prices, but said no financial performance was "worth a life" and its biggest challenge was eliminating danger at its mines. The mining industry is under scrutiny following the collapse of a dam operated by Vale (Swiss: VALE.SW - news) in Brazil in January, which has rocked confidence in the sector just when balance sheets had been repaired after the commodities crash of 2015-16. Of the major companies, Anglo American was one of the worst hit by the commodity market slump and has made the strongest recovery.
A planned merger of Sainsbury's and Asda has been thrown into jeopardy after the competition watchdog identified "extensive" concerns. The Competition and Markets Authority (CMA) said the deal could lead to higher prices and lower quality and that it would be "difficult" for the companies to resolve them so that it can go ahead. The CMA said options for addressing its concerns included blocking the deal or forcing the companies to sell off "a significant number of stores and other assets" - potentially including one of the Sainsbury's or Asda brands.
A planned merger of Sainsbury (Amsterdam: SJ6.AS - news) 's and Asda has been thrown into jeopardy after the competition watchdog identified "extensive" concerns. The Competition and Markets Authority (CMA) said the deal could lead to higher prices and lower quality and that it would be "difficult" for the companies to resolve them so that it can go ahead. The CMA said options for addressing its concerns included blocking the deal or forcing the companies to sell off "a significant number of stores and other assets" - potentially including one of the Sainsbury's or Asda brands.
Drugmaker AstraZeneca forecast a second straight year of sales growth on Thursday, driven by revenue from cancer medicines and other new treatments, lifting its shares. Shares in AstraZeneca, which reported better than expected fourth-quarter results, were up 5.1 percent to 6,015 pence by 1040 GMT, on track for their best day in more than 18 months. After a sharp sales fall following his appointment in 2012 due to the expiry of major patents, the results were the latest vindication of Chief Executive Officer Pascal Soriot's strategy for rebooting the British drugmaker.
Struggling Debenhams has netted an additional £40m credit facility as it continues talks with lenders to secure its financial future. Debenhams (Frankfurt: D2T.F - news) said it hoped to conclude a "comprehensive" agreement in due course but added that it had agreed a deal in principle with retail stock specialist Li & Fung (HKSE: 0494-OL.HK - news) , aimed at improving its goods and controls. Debenhams is looking to accelerate its turnaround, which will see dozens of stores closed and thousands of jobs lost.
Struggling Debenhams has netted an additional £40m credit facility as it continues talks with lenders to secure its financial future. Debenhams said it hoped to conclude a "comprehensive" agreement in due course but added that it had agreed a deal in principle with retail stock specialist Li & Fung, aimed at improving its goods and controls. Debenhams is looking to accelerate its turnaround, which will see dozens of stores closed and thousands of jobs lost.
British retail tycoon Mike Ashley's Sports Direct has withdrawn its offer to buy scandal-hit British cafe chain owner Patisserie Holdings (LSE: CAKE.L - news) , a source told Reuters on Monday. Sports Direct on Friday offered to buy Patisserie out of administration to enlarge an empire stretching from department stores and sofa shops to lingerie, but wrote to Patisserie administrators KPMG saying it lacked the information required to continue bidding, British media reported on Sunday. Patisserie Valerie was plunged into crisis in October after its owner uncovered accounting irregularities.
British retail tycoon Mike Ashley's Sports Direct has offered to buy cafe chain owner Patisserie Holdings out of administration to enlarge an empire stretching from department stores and sofa shops to ...
Thomas Cook (Frankfurt: A0MR3W - news) has warned that anxiety among UK consumers is affecting summer holiday bookings - hours after rival TUI (LSE: 0NLA.L - news) said it was facing a profit squeeze in the British market. Thomas Cook revealed it was considering a sale of its airline business as it seeks increased resources to carry out a shake-up, while TUI issued a profit warning that sent shares 19% lower. The turbulence in the industry has already led Thomas Cook to reduce capacity and it said this had helped support prices for the summer ahead.
Ocado said a fire at one of its automated warehouses has caused "substantial damage" and will hold back its ability to meet growing customer demand. Shares (Berlin: DI6.BE - news) in the online grocer fell 7% after it warned that the blaze at its Andover site in Hampshire, which represents 10% of its current capacity, would mean a reduction in sales growth. Ocado said the fire, which began in the early hours of Tuesday morning, had not been contained as initially believed and later expanded.
Firefighters are struggling to extinguish a blaze at one of Ocado's automated warehouses. The online grocery firm's distribution centre in Andover, Hampshire, was evacuated at 2.45am and customer deliveries suspended. Hampshire Fire and Rescue said on Tuesday evening that 120 firefighters with up to 20 vehicles, including aerial platforms, had been involved in the incident.
Shares in Alphabet, Google's parent company, fell 3% in after-hours trading despite the company reporting bumper profits - as it ramped up spending on projects such as cloud computing and self-driving ...
Shares in Google owner Alphabet fell 3% in after-hours trading despite the company reporting bumper profits - as it ramped up spending on projects such as cloud computing and self-driving cars. Profits ...
BT is planning to appeal against two court judgments that ruled the telecoms giant cannot change the way it calculates pensions for thousands of employees. CPI is generally lower than RPI, which is no longer used widely in government.
BT Group (Other OTC: BTGOF - news) 's outgoing CEO Gavin Patterson said he was handing over a company with the momentum needed to see through a major restructuring and withstand pressures ranging from demands from regulators to aggressive competition in consumer broadband. Philip Jansen, a former Worldpay chief executive, takes the helm at Britain's biggest broadband provider on Friday, eight months after Patterson launched a cost-cutting plan to tackle financial and operational underperformance.
British shares ended a five-day losing streak on Tuesday as investors sought safety stocks amid worries about the U.S.-China trade spat and ahead of a parliamentary vote on Brexit. The FTSE 100 index added ...