Are we at Peak Fear?
Taking Stock on Thursday 26th October 2023
Taking Stock: Is a look at today's top business news & investment views plus we cover the winners, losers, the most read company news & the most followed. Today this includes:
Are we at Peak Fear?
Warren Buffett once said that it's wise for investors “to be fearful when others are greedy and to be greedy only when others are fearful.” This statement is somewhat of a contrarian view of stock markets that relates directly to the price of an asset.
When others are greedy, prices typically boil over and one should be cautious lest they overpay for an asset that subsequently leads to anemic returns. It might present a good value investment opportunity when others are fearful.
Companies discussed on “Taking Stock” today:
Ocado #OCDO 04:15
iShares UK Property ETF #IUKP 06:39
iShares UK Dividend ETF #IUKD 06:57
Unilever #ULVR 07:30
Headlam #HEAD 14:00
Ethernity #ENET 15:20
Oxford Metrics #OMG 16:05
Upland Resources #UPL 16:08
Contango #CGO 16:55
Poolbeg Pharma #POLB 17:25
BSF Enterprises #BSFA 18:30
Agronomics #ANIC 20:30
Hummingbird Resources #HUM 21:30
Crest Nicholson #CRST 23:50
Alumasc #ALU 24:20
Safestyle UK #SFE 25:05
Argentex #AGFX 25:35
Gusbourne #GUS 29:00
Cab Payments #CABP 31:40
Cornerstone FS #CSFS 31:50
Hipgnosis Songs Fund #SONG 34:15
Kromek #KMK 38:13
Angling Direct #ANG 39:49
Standard Chartered #STAN 41:48
Geiger Counter #GCL 43:00
Yellow Cake ##YCA 43:30
Greatland Gold #GGP 44:08
Shanta Gold #SHG 45:05
TOP BUSINESS STORIES
UK public inflation expectations continue to ease in September -Citi/YouGov
The British public's expectations for year-ahead inflation continued to ease in September, U.S. bank Citi said on Thursday as it published a monthly survey by market research company YouGov.
Public expectations for inflation in 12 months' time dropped to 4.2% from 4.4% in August, while expectations for inflation in five to 10 years' time were stable at 3.3%.
"For now, these data continue to show UK inflation expectations to be relatively well-anchored," Citi economist Benjamin Nabarro wrote in a note to clients.
AI risks bio weapons but new jobs on the way - PM
UK to set up world's first AI safety institute, Sunak says
The prime minister's speech on Thursday morning set out the capabilities and potential risks posed by AI - including cyber attacks, fraud and child sexual abuse - following the publication of a government report.
Mr Sunak said the risk of human extinction should be a "global priority" before adding: "This is not a risk that people need to be losing sleep over right now and I don't want to be alarmist."
Mr Sunak said the UK would not "rush to regulate" AI because it was "hard to regulate something you do not fully understand".
The UK is hosting a two-day AI safety summit at Bletchley Park in Buckinghamshire next week, with China expected to attend.
The decision to invite China at a time of tense relations between the two countries has been criticised by some.
But supporters of the decision have argued that an effective discussion on safeguarding AI requires China's presence.
Government to invest £30 million in innovative technology for NHS
Applications are now open for Integrated care systems to apply for a share of £30 million to roll out innovative technology
UK carmakers have recorded their best September since 2020 - but warned growth is "under threat" from new Brexit export rules due to come into force within months.
More than 88,200 vehicles rolled off factory lines in September, an increase of over 25,100 - almost 40% - compared to the same time last year.
The Society of Motor Manufacturers and Traders (SMMT) described the period as a "triple success", as it was also the sector's strongest month of growth in 2023 so far and the best results for a September in three years.
The industry body said the rise was driven by a 32% growth in exports - with almost six in 10 vehicles going to the EU.
Output of electric vehicles (EV) also soared by 41.5%.
SMMT chief executive Mike Hawes hailed the figures as "particularly strong" and "good news for the UK, given the thousands of jobs and billions of pounds of investment that depend on the sector".
However, it comes only months before new "rules of origin" Brexit trade regulations are due to come into force in January 2024.
Under the measure, 45% of the value of an EV must originate in the EU or UK for it to avoid being slapped with a 10% trade tariff.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.