27 April 2017 · 2 min read

China launches its first indigenous aircraft carrier

A show of force which will force the West to take notice

China celebrated the launch of its first domestically built aircraft carrier yesterday (Wednesday 26th April). Known as Type 001A, the ship is as yet unnamed and is the largest ever warship to be built by China. The televised launch comes at a time when tensions are running high in the region’s waters after the US deployed warships and a submarine to the Korean peninsula.

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Richard Windsor
27 April 2017

Samsung Q1 17 - Roaring 40s

Semis is a powerhouse with growth and margins in the 40s. 

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Andy Chambers
27 April 2017 · 2 min read

Is stability returning to aerospace in Dorset?

Cobham and Meggitt Q1 FY17

Meggitt and Cobham both provided in line trading statements this morning, although the current position of both companies is somewhat diverged.

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Stephen Rawlinson
27 April 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 27th April 2017

It’s a big day for news with AGM related trading updates across the patch including Berendsen, Taylor Wimpey and Persimmon. Q1 trading updates from Howden Joinery, Countrywide and Travis Perkins have added to a busy morning. The trend in the last week has been for there to be far more risers than fallers in the HICS sector and stock prices are creeping upwards. That trend is not wholly consistent with the increased level of uncertainty now faced by UK companies in terms of the home market.

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Richard Windsor
26 April 2017

Yahoo - Fair fee

We don’t begrudge Marissa her 5% payoff.

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Stephen Rawlinson
26 April 2017 · 1 min read

Market Commentary - Housing, Infrastructure, Construction and Services 26th April 2017

Forterra announced that the Lonestar shares had been placed a few days ago and today Ibstock has announced that the remaining private equity holdings in its shares have been placed. CRH has updated the market ahead of its AGM today. We are visiting the Stewart Milne modular housing factory this morning.

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Richard Windsor
25 April 2017

Juicero - Cautionary tale

A cautionary tale for budding entrepreneurs

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Stephen Rawlinson
25 April 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 25th April 2017

News from three companies provides interesting read across, Havelock Europa (fit out specialist), Carpetright and Vp, the hire company. Serco was the class act yesterday, up 3.8% to 117.9p. Our view has been consistent; inside the operations there is a great company emerging with the right values and systems in place.

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24 April 2017 · 3 min read

French Election: Is populism already passé?

Relief rally follows 1st round vote which puts Le Pen against a moderate

If last year was the year investors were caught out by misleading polls, today’s market action suggests that investors are being caught out by mistrusting them. A collapse in near-term euro volatility, sharply higher equity markets and a compression in the spread between French and German government bonds emphasises the relief that Le Pen was not in a run-off with a far left-wing candidate.

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Richard Windsor
24 April 2017

Microsoft - An Office education

Office in education sets up the future.

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