WEEKEND READING: When a takeover approach isn’t a takeover approach

Here is the weekly round-up of what’s been happening in the world of UK stocks.

 

Stocks and Shares

 

The biggest shock is Stanley Gibbon revealing the response from Disruptive Capital that they haven’t made a takeover approach (Check the date). (LSE) Here’s a reminder of last week takeover approach RNS. (LSE)

 

St. Ives gave a half-heartened trading statement on Tuesday. Investors took the company’s shares higher by 30% as like-for-like sales are up 7% and 12% sales increase in their strategic marketing division. (Investegate) BTW, my response is the technical setup (St. Ives share price chart) was there for the share price to bounce on any news resembling good. (Here my analysis)

Fiserv UK Limited and Monitise have agreed on the term on a takeover of Monitise for £70m or 2.9p per share! (Monitise PLC) This company was trading at 80p back in 2014!

 

DFS gave a downbeat trading update on Thursday that sent the shares tumbling by 20% to £2 per share, the lowest since their IPO (DFS PLC)

Entu, the disastrous energy improvement firm expect full-year LBITDA (AKA the opposite of EBITDA) to come in at £1.2m-£2.2m. (Investegate)  Remember, this company was floated at £1 per share in late 2015. It makes for a great case study of to avoid these types of businesses.

 

Malaysian Tech firm Fusionex shareholders approved of the delisting of the firm. Shares are trading around 36p down from IPO of £1.50 per share.

Looks like the short-sellers are getting burned from Mitie, as shares made a surprising recovery from £1.80 to £2.90, despite losses of £51m.  

And, finally, we come to HaloSource, the clean water technology firm. The Chinese haven’t granted governmental approval for investment. Unsurprisingly, the shares took a beating, see HERE. HaloSource has the end of the month to raise £1.9m or it would be waving goodbye to the AIM market.

 

Companies, Market and Investment News

Here is your weekly round-up:

Thame Water was fined for £8.5m for leaky pipes, this was on top of the record fine of £20m in March. However, Thames Water shareholders got £100m in distribution.

 

The Bank of England has (just) kept interest rate at record lows of 0.25%, with voting coming in at 5 to 3 in favour.

 

UK Retail Sales is down 1.2% in May from April, but sales volume is up 0.9% from a year ago, the weakest since 2013. Shoppers are reverting back to cheaper brands (BBC)

 

Thanks for reading and have a good weekend.

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