Tuesday 18 January 2011 8:18 pm Tags: NULL INSTITUTIONAL investors are planning to increase their allocations to hedge funds in the next year, a new report by SEI and Greenwich Associates shows.Fifty-four per cent of 97 investors surveyed said risk management was the greatest appeal of the asset class.The survey shows that hedge funds are increasingly seen as a mainstream asset class, rather than being the preserve of a few eclectic risk-takers.In line with concerns about risk, “accessing non-correlated strategies” came out as a top priority at a time when asset classes are unusually correlated with one another.Eighteen per cent also said that reducing their portfolio’s volatility was a reason to use hedge funds, defying the industry’s reputation as being primarily for professional speculators with high risk tolerance.However, investors still have doubts about the less regulated aspects of hedge fund investment. Seventy per cent of investors say that transparency is a concern, and 58 per cent say liquidity is their main worry.Many hedge funds do not have to give daily valuations to their investors as do conventional funds, which can make it harder to withdraw cash at short notice.But even as investors plan to push more money into hedge funds, they are staying price-sensitive: 13 per cent say that “value for money” is a major challenge, up from four per cent last year. •Meanwhile, figures out yesterday from the EDHEC-Risk Institute show that the most successful hedge fund strategies last year were those focused on distressed securities and convertible arbitrage.Short selling took the last place for returns, with short hedge funds having delivered a 16.9 per cent loss on average. Of that loss, 5.5 per cent occurred in December, when the stock market rallied strongly. Risk concern driving cash to hedgies Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp whatsapp KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Show Comments ▼
Flour Mills Nigeria PLC (FLOURM.ng) listed on the Nigerian Stock Exchange under the Food sector has released it’s 2007 annual report.For more information about Flour Mills Nigeria PLC (FLOURM.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Flour Mills Nigeria PLC (FLOURM.ng) company page on AfricanFinancials.Document: Flour Mills Nigeria PLC (FLOURM.ng) 2007 annual report.Company ProfileFlour Mills Nigeria Plc is a flour milling company in Nigeria with business interests in food production, packaging, agricultural industries, port operations and logistics and real estate. The company manufactures and sells past, noodle, edible oil and refined sugar as well as livestock feeds; supplies fertiliser; manufactures and markets laminated woven polypropylene sacks and flexible packing material; and grows and processes sugar cane, oil palm, fresh tropical fruit, poultry and cassava. Business interests in ports operations and logistics include operating Terminal A and B at the Apapa port and offering customs clearing, forwarding and shipping agents and logistics services. Flour Mills Nigeria Plc owns and manages real estate in Nigeria. The company is a subsidiary of Excelsior Shipping Company Limited. Its head office is in Lagos, Nigeria. Flour Mills Nigeria Plc is listed on the Nigerian Stock Exchange
Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. “This Stock Could Be Like Buying Amazon in 1997” Forget the Lloyds share price! I’d buy this UK share in an ISA for the economic downturn Our 6 ‘Best Buys Now’ Shares I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Royston Wild | Friday, 20th November, 2020 | More on: LLOY See all posts by Royston Wild Image source: Getty Images. Simply click below to discover how you can take advantage of this. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! You could be forgiven for thinking that the Covid-19 crisis is almost over if the movement of UK share prices is anything to go by. The FTSE 100 for instance has rocketed 14% since November began and recently hit five-month highs above 6,400 points.A slew of good news surrounding coronavirus vaccines has helped to repair battered investor confidence. But it’s still too early to proclaim that an end to the pandemic could be upon us. Key questions over the eventual success of these vaccines and how they’ll be rolled out to the population remain. Meanwhile, Covid-19 infection rates continue to spike across the globe. The world economy isn’t quite out of the woods yet.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…A high-risk UK shareThe Lloyds Banking Group (LSE: LLOY) share price is one that’s soared in recent weeks. At 35.7p per share, the FTSE 100 bank is now trading at its most expensive since the beginning of June.In my opinion, this puts it in significant danger of a fresh share price correction. City analysts reckon Lloyds will bounce from a 64% earnings drop in 2020 with a 160% rebound in annual profits next year. However, I’m concerned a strong bottom-line recovery at the UK share could remain elusive.The experts at Morgan Stanley have summed up my concerns perfectly in a recent research note. The bank reckons the UK economy will only get “back to normal” in early 2023 and that the recovery will lag that of other major economies.Morgan Stanley says another Covid-19 lockdown will hamper the economic rebound, while its expectations of a no-quota and no-tariff deal in manufactured goods with the European Union will create additional problems “as Brexit increases barriers to trade and drags on investment.” Finally, the bank expects the Bank of England to drag interest rates down to zero in another hit to Lloyds’ profitability.A better bet than LloydsToday, this blue-chip UK share trades on a rock-bottom price-to-earnings (P/E) ratio of 9 times for 2021. Still, the high chance of current earnings forecasts being derailed means this low ratio doesn’t appeal to me. By extension, Lloyds’ chunky 4.7% dividend yield for next year hasn’t turned my head either.I’d much rather buy Begbies Traynor Group in my Stocks and Shares ISA in the current climate. The insolvency services provider announced this week that adjusted operating profits were up 25% in the six months to October as the British economy struggled. Unfortunately, the number of businesses experiencing severe distress inevitably surges during downturns. And the ONS suggests things could be about to get much worse. A whopping 14% of businesses either have low or no confidence that they’ll survive the next three months.City analysts reckon Begbies Traynor’s earnings will rise 5% this fiscal year (to April 2021). It leaves the UK share trading on an undemanding P/E ratio of 14 times. And this, combined with a chunky 3.5% dividend yield, makes it a great buy for value chasers, in my opinion.
Oliver Mardlin | Monday, 22nd March, 2021 | More on: AAF I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Why I think Airtel Africa shares will prove to be a winning long-term investment The share price of Airtel Africa (LSE:AAF), a multinational telecommunications and mobile money company, increased by over 10% last week, and in the long term I think this growth can continue. The recent price increase in Airtel Africa shares is likely due to a US$200 million agreement for an investment into its mobile money business, Airtel Mobile Commerce BV, by TPG’s Rise Fund.According to the World Economic Forum: The Rise Fund is committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns. This has likely inspired belief and expectation in the company’s prospects in the company’s mobile money business.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Mobile money will be Airtel’s key to expanding successAccording to Airtel Africa, the US$200 million investment will be used to cut debt and finance both network and sales infrastructure. CEO of Airtel Africa, Raghunath Mandava, said that this will enable the company to “realise the full potential from the substantial opportunity to bank the unbanked across Africa”.The barrier to entry to mobile money can be lower than having a traditional bank account. Mobile money also has the possibility of curbing corruption by wages directly to employees. In Afghanistan, when policemen were paid via mobile money, they received their full pay for the first time. People may also prefer it for travelling as they can deposit money before they leave and then withdraw it when they get to their destination: this prevents theft during the journey. Using mobile money in preference to cash can broaden the tax base, which could be an incentive for governments to encourage its use.On the 28th of January, Airtel announced that the application for renewal of its licence in Nigeria – for its subsidiary, Airtel Nigeria – had been approved for a period of 10 years, which will be until 30th November 2031. This can help to affirm the company’s position in this country with a population of 201 million, where it is already the third-largest Global System for Mobile Communications (GSM) operator.Risks to considerThere are a couple of things that make me hesitate to add Airtel Africa shares to my portfolio. The first being Covid-19 and the lack of vaccinations currently in many African countries. Without adequate control of the disease, there could be increased infections or proliferation of new variants leading to instability in many of the countries where Airtel operates. The second is that it takes payment in local currencies but reports its earnings in US dollars, which can lead to an impact on earnings due to the exchange rate fluctuations.My verdictHowever, due to the high market share Airtel has in many of the countries it operates in, coupled with its high population growth rates of countries and increasing demand for mobile money that Airtel can cater to, I feel that Airtel Africa shares could make a good long-term growth prospect for my portfolio. Image source: Getty Images. Enter Your Email Address I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. “This Stock Could Be Like Buying Amazon in 1997” Oliver Mardlin has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Oliver Mardlin Our 6 ‘Best Buys Now’ Shares
Pepin concludes from his research that venture philanthropy will result in an increased diversity of funding, and not just in venture philanthropy, leadingto more sustainable and less vulnerable charitable organisations. It will also yield improved evaluation techniques within the sector, leading to improved techniques for achieving social goals.Pepin’s paper includes a useful appendix which summarises the main venture philanthropy models, together with a series of case studies.You can download the paper from UK Fundraising in Adobe Acrobat format (PDF). AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 John Pepin on future trends in venture philanthropy increased financial capital and expertise in the movementthe leverage of the movement will be felt throughout the sector, for example with traditional grantmakers adapting some of the principles of the movementthe model will involve, with venture philanthropists increasing their understanding of the charity sectornew capital structures will be developed, such as “recipient-driven captive funds” and “diverse blended fund portfolios”charities will change their behaviour, for example with fundraisers adopting a more strategic approach to matching capitalto needsthe impact of venture philanthropy will start to be felt in the larger charities “The venture philanthropy movement is evolving out of the incubation phase into a mature and increasingly accepted practice”, says John Pepin in his analysis of the future of venture philanthropy or “high engagement giving” in the UK.John Pepin’s research acknowledges that venture philanthropy activity in Europe is still on a smaller scale to that in the USA, with just a small number of dedicated funds, such as Impetus Trust. However, “its influence can be felt in a larger number of venture philanthropy-like organisations, such as Futurebuilders and Diageo’s corporate citizenship initiatives.”Pepin’s report highlights six key trends in the development of venture philanthropy in the UK: Advertisement Howard Lake | 29 March 2005 | News 24 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
“When parents and teachers are under attack, what do we do? Stand up, fight back!” This was a very popular chant during the 2019 Oakland teachers’ strike, Feb. 21-March 1. Little did anyone know at that time that teachers and parents would be physically attacked by school and city police for opposing school closures and consolidations.Oakland teachers strike and student support in 2018 focused politically on stopping the growth of charter schools in the district.Unfortunately, one of the unresolved issues from the strike centered around Oakland Unified School District’s plans to close and consolidate 24 public schools. So far, the board has only targeted public schools in high-poverty “flatland” areas (leaving untouched schools in the more-privileged “hills”). OUSD’s refusal to provide quality public schools for Black and Latinx students is at the heart of this struggle. Under the coalition name, “Oakland is not for sale!” parents and teachers have united to oppose OUSD’s “blueprint.” On Oct. 23, the Oakland school board conducted a brutal attack on parents, teachers and the community who have been actively opposing the closures and consolidations. After several weeks of protests during school board meetings, the board decided to unleash its combined police force of school safety officers and Oakland police against the peaceful protests of parents, teachers and community members. The videos of this attack clearly showed the unjustified brutality suffered by community members. The Oakland Education Association and the California Teachers Association immediately released statements condemning this attack. The OEA demanded that OUSD “issue a public apology to our students, parents and educators for the use of police barricades, over-policing, and violence at the Oct. 23 board meeting.” The teachers’ union also demanded that OUSD stop funding Oakland police and instead fund school counselors. This demand is key to a citywide campaign launched by Oakland’s Black Organizing Project.Many organizations, including United Teachers of Los Angeles, came out against the attack and in support of the Oakland community’s fight to save neighborhood public schools. The OEA is calling for the OUSD to enact a moratorium on school closures and consolidations. OEA is holding a vigil against school closures and police violence on Monday, Oct. 28 at 4:30 p.m. in front of the OUSD in downtown Oakland. Greenspan is a retired Oakland public school teacher and a member of the California Teachers Association. For more information about this struggle, go to facebook.com/oaklandnotforsale/.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
More Cool Stuff Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Name (required) Mail (required) (not be published) Website Rep. Judy Chu (CA-27) released the following statement on the Joint Comprehensive Plan of Action (JCPOA) between the P5+1 and Iran:After much deliberation, study, and discussion with both opponents and supporters, I have decided that I will vote to support the Iran nuclear deal.“My decision was not an easy one. I attended briefings, studied the classified documents in the Capitol basement, and read position papers both for and against. Many on both sides of the issue reached out to me, answered my questions, and kept me informed throughout the debate. There has been a great deal of honest and sincere advocacy all around, and I thank those who care so deeply about this issue for their input.“However, I have concluded that the issue of utmost importance here is ensuring that Iran does not get a nuclear weapon. A nuclear Iran would be an unacceptable danger. Iran’s rhetoric about destroying Israel presents the real threat that one nuclear bomb from Iran could wipe out the Jewish state forever. Allowing the existential threat to Israel’s existence to become even slightly more real cannot be an option. The stated threats to Israel, Iran’s bellicosity in the region, and the nuclear arms race they would almost certainly trigger are the reasons we and the world’s major powers put crushing sanctions on Iran in the first place. And in fact, if the worst-case scenario becomes necessary, and that is military action against Iran, it would be much more difficult to do so if Iran did actually have a nuclear weapon.“Currently, Iran can produce enough material for a nuclear weapon in 2-3 months. This deal would prevent Iran from having a nuclear weapon for 15 years. Under this deal Iran must take several unprecedented steps. They must reduce their existing uranium stockpile by 98%, reduce the installed number of centrifuges by two-thirds, and only use their oldest versions for 10 years. They must ship all spent fuel from the Arak reactor out of the country forever, and end any plutonium production at the heavy water reactor at Arak, while not developing any additional heavy water reactors for 15 years. In order to produce a bomb, they would have to enrich uranium up to about 90%, but for 15 years, they can only enrich uranium up to 3.67%.“Certainly, the Iranian government has demonstrated that they are not to be trusted. That is why this deal goes further than any agreement in history and offers real verification measures. This includes inspection of Iran’s uranium enrichment sites, centrifuges, and uranium ore supply chain for up to 25 years.“This deal is not perfect. I have listened carefully to the critics, talked to the experts and have weighed the arguments.“First, critics say that the deal does not stop Iran’s nuclear program forever, as critical provisions end in 15 years. However, the 15 years that we do have provide the ability for us to know much more about Iran’s nuclear capabilities. And under this deal and the Nuclear Nonproliferation Treaty (NPT), Iran is still permanently banned from ever having a nuclear weapon. With the knowledge we have and will have acquired, even if Iran does proceed, in 15 years, the U.S. will have the time and intelligence to intervene before a nuclear weapon could be produced.“Secondly, critics say that the Iranians will cheat in the inspections. However, this deal is constructed so that Iranian activity is independently monitored and verified at every step throughout the process by the International Atomic Energy Agency (IAEA.) Even for inspections of past military dimensions at Parchin, the taking of soil samples will be under close observation by IAEA inspectors, under a protocol that has been upheld by nuclear experts around the world. Overall, the entire Iranian supply chain will be inspected, so there are no ways to secretly acquire uranium. And if they did, there would be no place to enrich it. Iran cannot clandestinely build an entire nuclear enrichment facility without our intelligence agencies noticing the construction and many wires necessary to provide enough power. This is how we were able to observe their nuclear program previously, and doing so now will only be easier with inspectors on the ground.“Third, critics focus on the sanctions relief that Iran will receive, saying that Iran will be an even greater threat by using this money for terrorism. I share this concern, and this is why I have pushed for greater assurance that we continue with sanctions related to terrorism and human rights. This is also why I welcomed the President’s letter of August 19, which confirms our commitment to Israel’s security, and to working with our allies and partners to vigorously deal with Iran’s destabilizing activities in the region. The U.S. commitment to Israel’s qualitative military edge will ensure that – so long as Iran is restricted to conventional weapons, as is achieved with this deal – we will maintain a military superiority to Iran.“There are those that say we should reject this deal, and go it alone, assuming the other partners in this deal will come back eventually. I do not believe the other partners will come back, after having negotiated in good faith for 2 years. For the Europeans, negotiations have been taking place for as many as 12 years. Nor do I believe that using our financial system to shut out all who do business with Iran is possible without triggering a global economic crisis. It would only damage our position as the world’s only reliable superpower.“It is true that we will continue to face the challenges of a hostile Iran in the coming years, but now, we can do so for at least 15 years without the threat of a nuclear bomb. Considering the anxiety of recent years when the prospect of a military strike on Iran felt imminent, this deal is a welcome alternative.“We have the choice of two historic firsts. One, a never before seen inspections regime that assures us of a nuclear free Iran. Or two, America walking away from a deal that we negotiated with other world powers, abdicating our global leadership at a moment of crisis. There are risks with accepting and rejecting the deal. But the risks of rejecting it are too great. For the sake of our security, the security of our allies, and our position as a trustworthy global leader, I have concluded that we must support the Iran nuclear deal.” Subscribe Make a comment Business News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. First Heatwave Expected Next Week Your email address will not be published. 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KFSN-TV(MADERA, Calif.) — Police are searching for a woman who allegedly left a newborn baby lying in the middle of a rural California road in frigid temperatures.The Madera County Sheriff’s Office in central California said a newspaper delivery person found the newborn baby girl early Monday morning, lying “on the center line of a roadway” with her umbilical cord still attached.The newspaper carrier said he took the baby into his vehicle to keep the child warm and dialed 911 immediately.“It’s very fortunate that the child was discovered by the newspaper delivery person before she was seriously injured or even possibly killed,” Madera County Undersheriff Tyson Pogue said at a press conference Monday night.The baby was wrapped in a blanket and wearing a one-piece flannel pajama set, Pogue said. She was transported to a local hospital and was said to be in good condition.Authorities estimated the baby was on the road for a matter of minutes.A witness said he encountered a woman with a baby near the scene, just minutes before the infant was found.He said the woman approached him with the infant in her arms and begged him to take the child.“He was approached by a female driving a white, smaller SUV. This female got out of her car, asked the man if he could help her and asked him to take her child,” Pogue said. “The man directed her to the fire station and the Valley Children’s Hospital down the street and suggested she take the baby there.”The witness described the suspect as a Hispanic woman in her early 20s, who was driving a smaller white SUV, Pogue said. The suspect could face felony charges of child endangerment and possibly attempted murder, he said.Pogue said the baby was “cold” when she was rescued, but she’s expected to recover.“Luckily, she was discovered early enough that she’ll make a full recovery,” Pogue. “We’d like to remind everyone that there are many safe surrender sites that will allow someone to surrender a newborn child without any questions asked.”He said anyone with information about a potential suspect should contact the Madera County Sheriff’s Office immediately.Copyright © 2019, ABC Radio. All rights reserved.
Purplebricks shares rose by 4.32% or £45.8 million yesterday during trading on London’s AIM, valuing the hybrid estate agency at £1.11 billion.At the end of trading, Purplebricks shares price stood at £4.10p, nearly four times its price in mid-November last year and the highest it has been to date – a year ago they were trading at just £1.37p each.This means the company, which recently launched a new tranche of ‘commisery’ TV adverts, is now valued at nearly three times the market capitalisation of Countrywide, and almost as much as Savills although it still has some way to go before it reaches ZPG (£1.63 billion) or Righmove (£4 billion).Belvoir Lettings also saw its share price rise yesterday, by 2.34% to £1.06p but Countrywide’s share price dropped by nearly 3%.Encouraging resultsPurplebricks’ most recent trading statement on the 4th may saw its share price rise by 2% on the back of good news from its UK operation including instruction growth of 83%, and “encouraging” results from its fledgling Australian operation.At the time leading investment advice website Motley Fool pondered whether its then share price of £3.22p could ever reach £4, surmising that “Purplebricks could quite conceivably achieve this price based on optimism alone”, a prediction that has come to pass.The optimism around Purplebricks shares in the city might be linked to a recent report by leading proptech consultant James Dearsley, who as we revealed last week, believes the hybrid agent is a threat to the dominance of Rightmove and could soon be significant online rival.Purplebricks shares June 1, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Purplebricks shares jump by £45m in one day previous nextAgencies & PeoplePurplebricks shares jump by £45m in one dayShares in the hybrid agent rise unexpectedly while shares in most other property PLCs – including Countrywide – drop.Nigel Lewis1st June 201701,489 Views