Articles by: CHRIS BAILEY


Interesting updates from Essentra and James Halstead

For me, any company with a market cap below £1 billion is a small cap and so a bit of small cap focus for me today, given updates from two corporate names I have mentioned before: Essentra (ESNT) and James Halstead (JHD).

  • By Chris Bailey
  • 2022-10-03 11:55:25

Between playing the investment game or not, you can do a lot worse than 3i Infrastructure

It is the last day of the month and also the final day of the third quarter of the year. Interesting times at many levels but it is not impossible out there for any investor (so long as you don’t pick some crazy investments). To that end, I hope you have not been too light in your allocations to the commodities, tobacco, defence and pharmaceutical sectors, as well as a bit of general non-sterling exposure. But one area a bunch of investment thinkers are very excited about is the infrastructure space. And that brings me back to 3i Infrastructure (3IN).

  • By Chris Bailey
  • 2022-09-30 10:27:08

Imperial Brands really should be loved by ESG investors

Another ‘interesting’ day in the financial markets but, fortunately, not all my pension fund holdings are down today. I see Burberry (BRBY) has announced another senior corporate change as “Daniel Lee has been appointed Chief Creative Officer” from Monday 3 October 2022, as “Riccardo Tisci will be stepping down as Chief Creative Officer and leaving the Company at the end of this month”. As you all know I am a big fashion expert (not!), so clearly the newbie’s Bradford background, profile as an “award-winning designer and one of the most exciting British creative talents of his generation”, combined with his recent three years as the Creative Director at Bottega Veneta “where he helped reinvigorate the Italian luxury brand”, is all very exciting stuff. I am completely unsurprised the stock is up 3% today given all of that then! And moving on from one area of excitement, to another: the world of ESG and Imperial Brands (IMB).

  • By Chris Bailey
  • 2022-09-28 11:55:59

The ongoing saga of woe at Saga

As undoubtedly many of you know, a saga is ‘a long story of heroic achievement, especially a medieval prose narrative in Old Norse or Old Icelandic’. Meanwhile in the UK financial world, in my opinion there is an ongoing saga at Saga plc (SAGA), a company which may describe itself as “a British company focused on serving the needs of those aged 50 and over” and hence sound very relevant, but which has had even a peer shocking 95% share price fall over the last five years. So why has its first half numbers today pulled the stock down over 15% this morning to what looks like a new share price low?

  • By Chris Bailey
  • 2022-09-27 11:30:19

More management change excitements in the FTSE 100 (and beyond)

I am sure there are lots of people thinking about the pound today, but hopefully you are much more of a global investor than your UK-centred cost base will need. As even the Americans will learn over the next generation or so, it is about so much more than apple pie, the right to bear arms and the dollar. Anyhow, onto other matters. Shall we talk about job changes again?

  • By Chris Bailey
  • 2022-09-26 10:39:41

Seminar time with easyJet and Sage Group

Welcome to Friday and the ‘excitement’ (as the BBC put it) of a “wave of tax cuts expected from chancellor in bid to boost growth”. What fun awaits (not)! Meantime, what I have been busy with over the last couple of days is a couple of corporate seminars.

  • By Chris Bailey
  • 2022-09-23 10:45:58

We could talk about global central banks but I would prefer to focus on today’s numbers from PZ Cussons

The good news for you today is that I am not going to talk about the bunch of central bank rate increases, including further upward moves by the Federal Reserve and the Bank of England plus the first shift by Swiss National Bank to a positive base rate for ages. By my reckoning, the only central bank still with the comedy of negative base rates is the Bank of Japan (who you may recall the new PM has a soft spot for). And all ahead of tomorrow’s mini-budget special by the new chancellor… Of course what I really want to talk about though is stocks, which brings me to full year numbers from PZ Cussons (PZC).

  • By Chris Bailey
  • 2022-09-22 14:16:15

Is it double or quits time for Haleon shareholders?

As I observed yesterday, “some GSK plc (GSK) shareholders have sold their Haleon (HLN) spin-off shares and some have not”. I belong in the latter group on the basis that yesterday’s half one numbers are a classic double or quits moment. After having the opportunity to listen to the conference call yesterday, what am I going to do with my position in one of the world's largest consumer health brands businesses given the range of oral health, vitamins, minerals and supplements (VMS), pain relief and digestive health product exposures the company has.

  • By Chris Bailey
  • 2022-09-21 10:29:32

Kingfisher keeps on hoping for more and more “home nesting” by us all

Some GSK plc (GSK) shareholders have sold their Haleon (HLN) spin-off shares and some have not. I belong in the latter group on the basis that today’s half one numbers are a classic double or quits moment, based far more on the conference call being held by “one of the world's largest providers of specialist oral health” later today. I look forward to sharing some thoughts with you all on this tomorrow – as shown by the share price rise this morning, the numbers were alright…but what really matters is where the group is going over the rest of the decade. Meanwhile, a couple of months ago I wrote on Kingfisher (KGF).

  • By Chris Bailey
  • 2022-09-20 13:03:00

For me to figure out Dunelm…I am really going to have to visit one of its stores

Plenty has happened in markets and the broader business economy over the five months since I last wrote about Dunelm (DNLM), “the UK’s #1 homewares retailer, with a growing presence in the furniture market” HERE. Maybe I have better things to do, but I still have failed to visit one of its 175 “mainly out of town, with many offerings made-to-measure blind, curtain, shutter and accessories fitting service, and cafes” stores across the land. I guess that was wise as the shares are now down c.45% year-to-date (albeit still remaining a few percent above the early April 2020 COVID-19 low). How has trading been recently?

  • By Chris Bailey
  • 2022-09-14 13:02:50
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