views

DS Smith remains uncool, but that is why I regard it as one of the best FTSE 100 buy/holds out there

I see the packaging company DS Smith (SMDS) describes its half year numbers as a “robust performance in challenging environment” which means it is “on track” for its FY24 hopes. Are there concerns though from an 18% year-on-year fall in revenue, a 15% fall in operating profit, a flat half year dividend and a small negative free cash flow number?

views

BATS shares are up in smoke today. Time to buy, sell or focus on the dividend yield?

A few weeks ago Imperial Brands (IMB) gave a corporate update which was positively received by the market. However, despite “reiteration of FY23 delivery in line with guidance”, today's update from larger peer British American Tobacco (BATS) has not been taken so well, with the company's shares down over 5% as I write and trading at around a five-year low. What is going on?

views

Are you sending anyone a Moonpig card this Christmas? I thought not...

I have no idea why Moonpig (MOON) shares are up 57% year-to-date. I can though understand more easily why, since IPO in February 2021, the shares are still down by more than 57%. Today's half-year numbers to the end of October talk about a “return to technology-driven revenue growth” and “current trading in line with our expectations and guidance unchanged”, but I still regard it, fundamentally, as a comedy company…

views

Reality is (partially) kicking in for Rightmove...but you can still happily avoid the shares

I must admit that I am slightly surprised that Rightmove (RMV) shares are slightly up year-to-date and I wrote just over four months ago that "you may still love its website, but life is getting tougher for Rightmove plc". Can none of us get enough property market hype, naively thinking that every fall is an opportunity to buy?

views

Lloyds Bank says that business confidence is rising. Whatever...

Early this morning Lloyds Bank (LLOY) released a report observing that "business confidence rises to highest level since early 2022". I know, and believe, that the darkest hour is before the dawn and all of that, but it appears the analysts at Lloyds Bank believe that their "Barometer survey" (conducted before the chancellor’s Autumn Statement on 22 November) is a great predictive sage. Actually, I would be more excited about the survey if it was currently its worst since the GFC of 2007-9 and was so fearful that the only smart thing to do was to be greedy.

views

Change and uncertainty continuing to occur at Halfords...but remains a Buy for me

Back in early September, I wrote about Halfords (HFD) that "compared to today’s c.190p share price, wake me up when the stock is back north of the 250p level….Buy". That was looking quite smart a week ago when the shares were lurking close to the 235p share price level, but is not looking so smart this morning with the shares falling back below 190p. What is going on in the world of "the UK's leading provider of cycling, motoring services, vehicle servicing and repairs”?

views

easyJet is likely to keep on growing in 2024...but you have also got to know when to jump off

The most important component of full year numbers to the end of September from easyJet (EZJ) had already been largely announced to the market, but I am certain that today it likes talking more about "record H2 headline PBT of £865 million” and that its dividend has been reinstated. The key question, as often in the investment world, is what is going to happen next?

views

You should not smoke or vape, but that does not mean BATS shares are also an avoid

I look forward to the trading update from British American Tobacco (BATS) in about 10 days' time, but this morning I read that “the London-based tobacco company BAT has called for ‘more stringent’ regulations on vaping, including a licensing regime similar to alcohol and cigarettes”. What is going on?

views

The comedy excitement of consumer spending before, during and after “Black Friday”

At a certain level, I don’t really understand GfK’s monthly Consumer Confidence Index statistics. Unlike the (correctly much aligned) Purchasing Managers' Index data, which is growing if it is above fifty and declining if it is below fifty, the always-neutral GfK data feels all the time like comparing one bad number with a slightly less bad or slightly worse alternative. I was looking back at the UK GfK statistics for the 2010s, for a bit of late amusement, and the only time it was actually above zero during the “everything is awesome” decade was, briefly, in 2015. Spot the…unusual statistics!

views

PZ Cussons shares remain a buy for me (even if Imperial Leather products are not on my Christmas list)

I think I have attended one or two AGMs in my life…and that was frankly one or two too many. I know some people regard them as an essential part of the investment analytical process but, if I want to ask a tough question, I can do that on a conference call (preferably online). Unsurprisingly, I will not be attending today’s PZ Cussons (PZC) AGM despite owning a few shares over the last couple of quarters, but I am all over today’s trading update like a rash…