Which company is the next Takeover Target?
Taking Stock on Monday 30th 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:
Big week for data this week:
Wednesday
UK House Price Index
UK Manufacturing PMI
Fed Interest Rate Decision
Thursday
BoE Interest Rate Decision
European PMI's
Friday
UK Service PMI
UK Composite PMI
Which company is the next Takeover Target?
Companies discussed on “Taking Stock” today:
Upland Resources #UPL 00:30 & 04:50 & 07:50
Facilities by ADF #ADF 02:20
Destiny Pharma #DEST 05:20
Bioventix #BVXP 05:40
Good Energy #GOOD 07:35
Ascential #ASCL 07:55
Helium One #HE1 09:05
Quantum Blockchain Technologies #QBT 10:20
Bushveld Minerals #BMN 11:20
Glencore #GLEN 11:50
Smith & Nephew #SN. 13:00
Cadence Minerals #KDNC 15:50
Insig AI #INSG 17:54
Powerhouse Energy #PHE 20:20
Inspecs #SPEC 20:45
Cordel #CRDL 22:05
Intelligent Ultrasound #IUG 23:25 &29:00
Northern Bear #NTBR 24:00
Contango Holdings #CGO
Adsure Services #ADS 27:30
TOP BUSINESS STORIES
UK mortgage approvals fall to lowest since January as rate hikes bite
British lenders approved 43,328 mortgages in September, the lowest number since January, the Bank of England said on Monday, in a further sign of how rising borrowing costs are slowing the property market (YoY -32.5%)
Economists polled by Reuters had forecast 45,000 loans for home purchases would be approved.
Net approvals for remortgaging fell to around 20,600, the lowest since January 1999, and there was a net repayment of 940 million pounds ($1.14 billion) in mortgage debt in September, the lowest net mortgage borrowing figure since April this year (-57.9%).
Monday's data from the BoE showed net borrowing by consumers fell to just under 1.4 billion pounds last month from almost 1.7 billion pounds in August. But the pace of growth in consumer credit over 12 months was its fastest since late 2018 at 8.0%.
Fall in UK jobs postings shows labour market is cooling
Britain's jobs market is showing more signs of cooling with online vacancies and pay offers falling, according to data from job search website Adzuna which will be noted by the Bank of England before this week's interest rate decision.
Online job adverts fell by 1.6% in September from August, bucking the usual end-of-summer bounce in job postings, and advertised salaries fell by the same amount, Adzuna said.
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.