Against a backdrop of scepticism towards the UK equity market, several UK focused investment trusts are significantly outperforming the FTSE All Share Index and appear to be overlooked, said analysts at Stifel
Highlighted trusts include Fidelity Special Values PLC (LSE:FSV), with its contrarian strategy focused on undervalued companies; Temple Bar Investment Trust (LSE:TMPL) and its traditional value investing approach; Edinburgh Investment Trust (LSE:EDIN) meanwhile distinguishes itself with a varied portfolio across recovery, growth and value stocks; while Mercantile Investment Trust PLC (LSE:MRC) takes a different path by concentrating on smaller and mid-sized companies not listed in the FTSE 100; and Law Debenture Corporation (LSE:LWDB) combines its professional services offering with investments in out-of-favour equities and businesses that have strong competitive edges.
Silver “has the most potential to benefit from a sustained rally in gold” among the precious white metals, reckon UBS analysts.
While not at all-time highs like gold, silver recently touched five-year highs against the pound sterling, with spot prices exceeding £22 per ounce. There could be more upside to come.
Ahead of ASOS PLC (LSE:ASC) interim results next week, analysts downgraded forecasts due to expectations of persistent pressure on sales.
Analyst Katie Cousins at Shore Capital cut her previous full-year forecast for a 2024 sales decline of 9.4%, which implied a broadly flat second half, after an 18% decline in the first.
Investors ignoring the recent rally in the copper price might be missing out on an opportunity worth up to $320 billion (£252 billion), according to analysts at Citi.
That's the US bank's estimate of the potential value of the current resurgence in 'Doctor Copper', which though slightly overshadowed by gold at present, Citi says has a lot further to run.
Imperial Brands PLC (LSE:IMB) trading update was "crashingly, boringly good" and management "seems to be getting the balance right", according to analysts.
In the tobacco giant's first trading report since November, investors were told that first-half operating profits are on track to grow by low single-digits, in line with previous guidance, while the second half is expected to be underpinned by hikes to tobacco pricing.
hVIVO PLC (AIM:HVO) results and outlook showed how the human challenge trial specialist is well-positioned for further growth, said analysts.
Revenues were up 16% to £56 million, as already disclosed, and EBITDA margins increased to 23.3% from 18.7%, ahead of forecasts, said Stifel analyst James Orsborne, who upped his forecasts and target price.
BP plc's trading update suggests it should be close to consensus numbers of US$3 billion net income when it publishes first quarter numbers, says broker Jefferies.
Strong gas trading will address a key concern during the quarter, while oil trading provides a good uplift quarter on quarter.
Tesla Inc (NASDAQ:TSLA, ETR:TL0) is likely to face further pressure on the back of competition from Chinese electric vehicle makers and a wider slowdown in demand, UBS has warned.
Elon Musk’s carmaker should remain the world’s largest electric vehicle brand over the coming year, but deliveries will likely be flat against 2023, UBS said in a note, after surveying trends in the industry.
HSBC Holdings PLC (LSE:HSBA)’s exit from the Argentina market received applause from City analysts, who see the US$550 million (£435 million) sale of its business to domestic player Galicia as the right step forward.
“Argentina has been a problematic market for HSBC in recent years given hyperinflation in the region and a sharp currency devaluation, which has resulted in significant earnings volatility for the business,” said Gary Greenwood at Shore Capital Markets.