GCIGreggs are on a roll but are they good value?
Greggs are on a roll but are they good value?
Taking Stock: 10th January 2024
Companies discussed on “Taking Stock” today:
07:15 Greggs #GRG
10:00 Sainsburys #SBRY
13:05 Cornerstone FS #CSFS
15:00 Valereum #VLRM
15:20 & 27:17 Kefi Good & Copper #KEFI
15:54 Persimmon #PSN
20:45 Sondrel #SND
24:25 Sosandar #SOS
28:20 Great Western Mining #GWMO
28:48 Cellular Goods #CBX
29:05 CAP-XX #CPX
32:24 Silver Bullet Data Services #SBDS
33:20 Nightcap #NGHT
37:35 Marks Electrical #MRK
43:20 Totally #TLY
44:45 Mercantile Ports & Logistics #MPL
TOP BUSINESS STORIES
Sub-4% two-year fixed mortgage within sight as Barclays and Santander slash rates
Two-year fixed-rate mortgage interest rates may soon hit 4%, as Barclays and Santander unveiled a swathe of major rate cuts today.
The ‘big six’ lenders joined the ongoing rate war, following a number of others such as Halifax and HSBC in reducing mortgage prices this year.
The cuts from Barclays, coming into effect tomorrow, will be especially eye-catching as they bring the cheapest two-year deals within touching distance of the 4% threshold.
The bank cut rates on the lowest-priced of its two-year fixes by half a percentage point to 4.10%, though those deals will require a 40% deposit. Other deals have also been cut by a similar amount.
Santander also announced a number of cuts, also coming into effect tomorrow, alongside changes to its affordability criteria. The new prices include a five-year fix at 3.89%.
Venture capital investment in UK firms still below pandemic-era peak
Investment in UK start-ups fell to $21.3 billion in 2023, down from $31.3 billion in 2022 and a little over half of the peak fundraising in 2021, as higher interest rates cooled risk appetite, a report by HSBC Innovation Banking and Dealroom showed on Wednesday.
New British companies raised record amounts of funding during the COVID pandemic, with venture capital investment at $41 billion in 2021, then slumped in the second half of 2022, according to the report.
There are signs of a tentative recovery for UK VC investment, as companies raised $12.6 billion in the second half of 2023, which was a 46% increase on the previous six months, the report said.
Sainsbury's sells record pigs in blankets and mince pies
Sainsbury's sold record numbers of pigs in blankets, mince pies and sparkling wine, over the festive period, it has said.
Festive food sales helped to boost overall sales over Christmas, at the UK's second biggest supermarket chain.
Grocery sales were up 8.6% over the six weeks to 6 January, offsetting sharp drops in its Argos and clothing sales.
Sainsbury's said its food sales beat competitors over the period as it strives to take on discounters.
It has been locked in a battle with German retailers Aldi and Lidl as it tries to entice cash-strapped customers through its doors.
Sainsburys said many customers had used its Nectar loyalty card scheme for their festive shopping, saving £16 on an £80 Christmas shop by using Nectar cards.
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.