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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Trending - Lloyds edging back to private hands and Aldi popping corks on Christmas sales

A look at some of the hot, trending stories of the day

The return of banking group Lloyds (LON:LLOY) into private hands seems to be taking an eternity, but it has edged closer, after it emerged that the UK government (the taxpayer) is no longer the largest shareholder.

The government has reduced its holding in the UK focused lender by 1% (selling 700,000 shares) to now 5.95%. It did have a 43% stake once after the bailout of 2008 and the financial crash.

The largest shareholder is now giant fund manager Blackrock, holding more than 5%.

Lloyds' ownership has been in focus for several years, along with other bailed out bank RBS (LON:RBS) and there had been talk of offering shares to the public at cut prices, but that was kicked into touch when global equities slumped and new chancellor Philip Hammond has now abandoned it entirely.

Aldi celebrating after record sales

Elsewhere, the New Year heralds an uncertain time for many, what with political unease and doubts over the econony from the Brexit vote.

But one thing is certain, the success of the discount retailers on Britain's High Street looks here to stay.

It will be no surprise to those who popped open a bottle of something sparkling from Aldi over the festive period that the German store recorded record Christmas sales.

The chain, which has also said it was increasing pay rates, was said to have sold over 13.5mln bottles of wine, champagne and Prosecco during December, while a promotion on fruit and veg also boosted sales.

UK sales were more than 15% higher during December compared to 2015.

It was one of the most popular business stories on Monday, as the retail sector continues to come into focus with trading updates in coming weeks. High Street bellwether Marks & Spencer (LON:MKS) reports in the next few weeks.

Premier Oil traders wait with baited breath

Closely followed FTSE 250 oiler Premier (LON: PMO) was up over 10% on the day as traders look forward to its restructuring plans to be unveiled this week.

The North Sea firm is trying to thrash out a bail-out with its lenders and its net debt sits at $2.6billion or five times' underlying earnings at a time when the oil sector is experiencing a torrid time.

Late last year, the group said it had made good progress in finalising the revised terms of financial facilities and agreements.

And investors have much to look forward to following any deal. First oil for example from the Catcher project in the central North Sea is expected this year.

Tube strike chaos

The tube strike in London continues to cause misery for millions of commuters this morning in the capital and as yet the implications for the economy are unknown.

It started at 6pm last night in a dispute over ticket office closures.

Reportedly, 133 stations closed across the network, while 94 stations have trains running through but not stopping.

Finally, in smaller stocks, shares in Braveheart Investment Group PLC (LON:BRH) pumped up over 17% as it has taken a 47% stake in Gyrometric Systems, an engineering firm using technology developed at Nottingham Trent University.

The technology is particularly useful in marine engines, machine tools and, potentially, wind turbines, as it protects drive-trains from overload and asymmetry damage.

In effect, the technology tunes the devices, enabling them to operate at maximum efficiency, thereby saving energy, maintenance and capital costs.

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