Is the Bull Season about to start?
Taking Stock on Friday 27th 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:
Is the Bull Season about to start?
Over the last 10 years, the AIM All Share has rallied:
70% of the time in Q4
70% of the time in November
80% of the time in December
The Darkest Hour is Before Dawn
Companies discussed on “Taking Stock” today:
Natwest #NWG 05:00 & 35:38
Ethernity #ENET 06:15
Starvest Energy #SVE 06:30
Upland Resources #UPL 07:25 & 08:25
Greatland Gold #GGP 08:05
Cab Payments #CABP 09:05
Kodal Minerals #KOD 09:29
Avacta #AVCT 10:55
Van Elle #VANL 11:45
Altitude Group #ALT 14:20
4Imprint #FOUR 15:00
Arcontech #ARC 18:00
Arc Minerals #ARCM 20:45
Boohoo #BOO 21:55
ASOS #ASC 22:05
Cordel #CRDL 22:40
Global Petroleum #GBP 23:45
Safestyle #SFE 24:30
Logistics Development #LDG 26:55
Intuitive Investments Group #IIG 28:45
Challenger Energy #CEG 30:58
International Consolidated Airlines #IAG 32:25
Impax Asset Management #IPX 39:25
Good Energy #GOOD 42:15
TOP BUSINESS STORIES
NatWest admits serious failings over how it treated Nigel Farage
"Serious failings" were made by NatWest in its treatment of Nigel Farage when it closed down his Coutts bank account, an independent review has found.
It said the bank failed to communicate its decision properly and also found shortcomings in how it treated Mr Farage's confidential information.
But the closure was lawful, and based mainly on commercial reasons, it said.
Mr Farage said the review was a "whitewash" and described the findings as "laughable".
Five Wilko shops to reopen before Christmas
Five Wilko shops will reopen before Christmas, the new owner of part of the high street hardware chain has said.
Two Wilko shops in Plymouth and Exeter will become concept stores, The Range's parent company CDS Superstores said.
A further two stores will be in the South East and the final will be in the North.
It comes just weeks after 400 stores were closed and 12,500 jobs lost as Wilko went bust.
The Range has acquired Wilko's intellectual property and website.
US economy grows at fastest pace in nearly two years
The US economy grew faster than expected in the third quarter of the year, helped by a tight jobs market and consumer spending.
The economy expanded at an annual rate of 4.9% in the July to September period, according to the government's first estimate.
It marked the biggest rise seen since the last three months of 2021.
Consumers spent a lot despite the Federal Reserve trying to clamp down on spending with higher interest rates.
Analysts expected that the economy would grow by 4.5% in the third quarter of this year.
But a strong jobs market meant that consumers were able to ask for bigger pay packets and keep spending on concerts, movies or holidays over the summer.
Consumer spending, which accounts for more than two-thirds of economic activity in the US, was the main driver behind the rise.
The latest figure is a big spike from the 2.1% growth seen in the three months to July.
It raises a question over previous predictions that the world's biggest economy could possibly enter a recession.
So far, the world's biggest economy has managed to defy the worst predictions.
But Nationwide chief economist Kathy Bostjancic said she expects that consumers are spending the "last portion of pandemic-related savings," and that she expects growth will slow in the last three months of 2023.
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.