|Bid||178.80 x 0|
|Ask||200.00 x 0|
|Day's range||189.05 - 194.35|
|52-week range||122.55 - 361.11|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||1.98|
|Earnings date||19 Nov 2020|
|Forward dividend & yield||0.17 (8.50%)|
|Ex-dividend date||10 Dec 2020|
|1y target est||610.50|
While there is optimism that a vaccine is on the horizon, there is potentially a long window before there is a vaccination programme and global economies can be fully reopened.
(Bloomberg) -- The U.K. government and central bank unleashed a fresh wave of stimulus into the struggling economy on Thursday, acting in conjunction and more aggressively than predicted as the coronavirus forces another lockdown.At 7 a.m, the Bank of England boosted its bond-buying program by a larger-than-expected 150 billion pounds ($196 billion), flooding the economy with cash to spur demand and lower government borrowing costs.The move was followed hours later by Chancellor of the Exchequer Rishi Sunak’s announcement that the government is extending its furlough program until March, rather than ending it when the latest curbs on businesses and movement expire on Dec. 2.The measures aim to counter the impact of a resurgent pandemic that has forced the government to order pubs, restaurants and non-essential shops to shut. With the outlook already clouded by the U.K.’s looming exit from the European Union’s single market -- potentially with no trade deal -- the nation risks a painful spike in joblessness.Sunak told Parliament that the double injection of stimulus shows “all economic and monetary institutions are playing their part.” Governor Andrew Bailey said in a press conference that it is “important that we take prompt, strong and coordinated action.”Spending on job support from November to March, along with an increase in help for self-employed workers, could cost around 25 billion pounds, Bloomberg Economics estimates.The measures announced on Thursday bring the government’s bill for the crisis to well above 200 billion pounds. Total U.K. debt now stands above 2 trillion pounds.The BOE has now eased monetary policy four times since March, cutting its benchmark interest rate to a record 0.1% and stepping up its quantitative easing program. Its loose policies, while ultimately aimed at ensuring price stability, also give the government room to increase crisis spending without worrying about spiraling debt costs.What Bloomberg Economics Says...“We don’t expect any more QE. But with the economy taking another hit from a second lockdown, the chances of the BOE having to do more, either through negative rates or QE, have risen.”\-- Dan Hanson, senior U.K. economistTo read his full report, click here.The coordinated economic response since the start of the outbreak has won praise from economists and global institutions such as the International Monetary Fund.“The governor and I are in constant communication as the situation evolves,” Sunak said. “Our responses are carefully designed to complement each other, and provide certainty and support.”The furlough program, which Sunak had previously insisted should be phased out, pays 80% of wages for the hours that workers are unable to work. It will now last more than a year, having been originally intended to last just three months during the first peak of the pandemic in the spring.Still, the actions can only partially counter the downturn. The BOE now expects the economy to contract in the fourth quarter, disrupting what had already been a fragile rebound.It had predicted unemployment would reached 7.75% in 2021, though the extra government support may mean the peak is lower, according to Bloomberg Economics.“Clearly the tightening of the restrictions was a game changer,” Philip Shaw, chief economist at Investec Bank Plc, said. “They seem to be much more fazed by the idea of the contraction in the economy over the fourth quarter, which is virtually inevitable, and also at the back of their minds they fear a return to market conditions like we saw in March.”The opposition Labour Party criticized Sunak for a piecemeal approach to aid that has seen him announce five major changes to the policy in six weeks. They also said the new support comes too late for those who have already lost their jobs.This week brought more evidence those losses are mounting, with big-name retailers including J Sainsbury Plc and John Lewis Partnership Plc have both announced planned cuts in recent days.The BOE expects 5.5 million workers will be furloughed in November, less than the 8.9 million who used it at its peak earlier this year.The central bank slashed its estimates for economic growth, lowering the third-quarter forecast to 16.2% from 18.3% and saying they now expect a 2% contraction in the last three months of the year.The economy will shrink more this year than previously anticipated, and the 2021 recovery will be slower, though Bailey said the country is “not in the middle of a double-dip recession” -- meaning the BOE doesn’t expect two quarters of contraction.GDP won’t get back to its pre-crisis level until early 2022, the forecasts show.“It’s an extraordinary situation,” Bailey said. “It’s by no means over.”(Updates with cost of government support in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY 1. KEY INFORMATION (a) Name of exempt principal trader: Investec Bank plc (b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree RWS Holdings plc(c) Name of the party to the offer with which exempt principal trader is connected: Investec is Joint Advisor and Joint Broker to RWS Holdings plc d) Date dealing undertaken: 3rd November 2020 (e) Has the EPT previously disclosed, or is it today disclosing, in respect of any other party to this offer?Yes 2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER (a) Purchases and sales Class of relevant securityPurchases/ sales Total number of securitiesHighest price per unit paid/received(pence) Lowest price per unit paid/received(pence) OrdinaryShares Purchases 6,626 548 548 (b) Derivatives transactions (other than options) Class of relevant securityProduct descriptione.g. CFDNature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit (c) Options transactions in respect of existing securities (i) Writing, selling, purchasing or varying Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitTypee.g. American, European etc.Expiry dateOption money paid/ received per unit (ii) Exercising Class of relevant securityProduct descriptione.g. call optionNumber of securitiesExercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant securityNature of dealinge.g. subscription, conversionDetailsPrice per unit (if applicable) The currency of all prices and other monetary amounts should be stated. Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. 3. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:If there are no such agreements, arrangements or understandings, state “none” None (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state “none” None Date of disclosure: 04th November 2020 Contact name: Rich White Telephone number: 0207 597 5462