There was a modest bump for Foxtons this morning after the estate agency announced a £3m share buy back, taking into account a number of factors – including the currents hare price valuation. The stock had taken a beating in line with the wider market over the last couple of weeks and despite today’s gains, it continues to trade at a meaningful discount. The Foxton’s share price was up as much as 3% shortly after the bell.
Some commentary here that relates directly to the US tariff news, with Belluscura providing an update. The company manufactures portable oxygen generators in China, with sales feeding into the US market. The imposition of tariffs on these shipments has left the company in a position where it has had to withdraw its previous market guidance. An update will be offered once a fuller assessment of the situation has been made but in early trade the Belluscura share price was down by more than 40%.
International Consolidated Airlines
The owner of British Airways, Iberia and other airlines fared well this morning, rising to the top of the FTSE-100 amidst a marked improvement in global sentiment. Equities have been truly rattled in the last few days, so a recovery rally was always expected at some point, but the question now is whether these gains are sustainable. With talk building even amongst right wing think tanks in the US that the tariff gambit has been overplayed, is a broader recovery on its way or is this just a pause for breath on the way down?
Most read news on Investegate this morning
Shareholding in Ricardo over 20% - - Ricardo (RCDO)
Statement re proposed imposition of Tariffs - - Belluscura (BELL)
