Record year for trust mergersCombination to create £353 million vehicleKartik Kumar to join PhoenixArtemis Alpha Trust (ATS) has agreed to be taken over by UK All Companies sector rival Aurora Investment Trust (ARR) as the record year for investment trust mergers continues.Sub-scale, underperforming funds are combining with larger rivals to remedy wide discounts to NAV (net asset value) and creat

Frasers increases stake to 8.9%Sports Direct-owner a ?strategic shareholder?Opportunity to sell more products via GAME chainMike Ashley-controlled Frasers (FRAS) has shunted its way up the shareholder register at model trains-to-planes maker Hornby (HRN:AIM) as the deal-hungry conglomerate pounces on yet another retail name going through tough times.Shares in Hornby leapt 40.5% to 29.5p on news Fr

Most investment trusts provide investors with a diversified portfolio invested across many different stocks and sectors which lowers the volatility or variability of returns.They typically own small stakes in anywhere between 30 to over 100 companies which can be sold without disturbing the market price.Castelnau (CGL) is different in that it takes big stakes in a few companies. It is a higher ris

- New proposal to take company private at 525p per share- Priced at 25% premium to prior close - Alternative public and private options to remain investedFuneral services group Dignity (DTY) jumped 25% late Wednesday (4 January 2023) after the company announced it was in advanced takeover talks with a newly formed consortium of investors intent on taking Dignity private. The offer was pitched at 5

- Swings to first-half loss- Normalised death rate post-pandemic and pricing and product mix blamed- Long-term plan to grow market shareFunerals provider Dignity (DTY) got a frosty response from investors as it swung to a large first-half loss.Its shares fell 8.5% to 362p, paring earlier double-digit losses, as it posted a pre-tax loss of £156 million for the six months to 1 July 2022 compared wi

The idea of owning a portfolio of companies that have gone off track may not appeal to every investor. There are high risks because the underlying companies need to be fixed before they can grow. Yet the rewards could be equally high if this repair and revive strategy works, and that's where Castelnau (CGL) sits in the investment trust universe.It's more of a corporation than a traditional investm

Shares in insurance outsourcer Charles Taylor (CTR) could be poised for another leg up if 'super-catastrophe' (super-cat) claims return to more normal levels.Progress has been impressive since chief executive officer (CEO) David Marock took charge in 2011. Earnings per share (EPS) look likely to top 20p this year versus 13p in 2011 and Charles Taylor stock has gained 29% annually over three years.

Shareholders are being encouraged to vote down the remuneration policy at an EasyJet (EZY) annual general meeting today (12 Feb).The proposed new policy would see chief executive officer (CEO) Carolyn McCall take home 450% of her base salary in bonuses if targets are hit.In its weekly newsletter, Pensions & Investment Research Consultants (PIRC) says 'there are still concerns over the potential ex

Lloyd's insurer Catlin (CGL) falls 2.2% to 630.2p following yesterday's 10.8% gain on news that Dublin-based reinsurer XL Group (XL:NYSE) wants to buy the business. Catlin is mulling over the 699p cash and share offer, which values the property and casualty insurer at some £2.5 billion.This could be the start of a consolidation trend in the catastrophe insurance market. Low hurricane and storm ac

UK stocks make solid gains in early deals Thursday, matching the strong progress of Wall Street overnight after the Federal Reserve calmed nerves over monetary policy tightening. The benchmark FTSE 100 index is trading roughly 50 points higher, or 0.7%, at 6,389, its third straight trading session of gains, easing investors concerns after the recent sell-off on falling oil prices and other macro w

UK stocks sank sharply on Friday as heightened geopolitical concerns dampened investors' appetite for risk assets. The FTSE 100 completes a weak week, dropping 36.64 points to 6,560.52, having closed on Thursday at a four-month low of 6,597.37.That market malaise dampens enthusiasm for travel and leisure group TUI Travel (TT.), which dips 4.3p, or 1.2%, to 351.5p despite strong year-on-year profi

Non-life insurer Catlin (CGL) is entering a softening market in good shape after the publication of consensus-beating pre-tax profits and a strong underwriting performance for 2013 (10 Feb).The Bermuda-based specialty property and casualty insurer and reinsurer made $432 million before tax, ahead of the $390 million expected by the market. This was partly fuelled by the 7% increase in premiums to

The latest retreat in the FTSE 100 means Britain's premier benchmark still stands tantalisingly just below its all-time closing high of 6,930, reached on 31 December 1999. January's stumble took the index down from 6,837 to 6,510, much of the decline occurring in just five trading days (21 Jan to 27 Jan), as the market took fright over the US Federal Reserve's plans to taper its quantitative easin

£234.3 million Property and casualty insurer Catlin (CGL) is set to announce better-than-expected profits at next month's finals (10 Feb), despite the tough industry backcloth. Many insurers have warned of a difficult results season due to a run of major weather events in Europe and North America but which have been insufficiently devastating to prompt a compensatory rise in premiums. The £1.9 b

Property and casualty insurer and reinsurer Catlin (CGL) slipped 1.9% to 479.5p as floods in Canada and Western Europe and tornadoes in the USA hit its interim figures.The Bermuda-based group highlighted the problems many insurers have faced as it took a $99 million net catastrophe hit in the six months to July and suffered from rising bond yields.Despite its flood and tornado losses Catlin made $

The ongoing court battle over Centamin's (CEY) licence to mine gold in Egypt has taken a new turn. After countless delays to its appeal hearing, the miner is due in the Supreme court on 19 June. Yet the shares tanked, falling 14.5% to 39p, on news that the State Commissioner's Office has prepared a report for the Supreme court which is apparently not in Centamin's favour.The prospect of free-to-vi

He may not have been to everyone's taste but Michael Winner led a rich and varied life. When he passed away in January his obituaries were full of anecdotes about his career as a film director, most notably vigilante thriller Death Wish in 1974, and his later years spent as a food critic. He will also be fondly remembered by younger generations for dressing as a fairy while uttering the line: 'Cal

Online dating group Cupid (CUP:AIM) has been dumped by investors after a blossoming relationship turned sour. The £120 million cap slumped 10% to 141p, extending several days of losses, after a financial blog published internet monitoring data which implied the group's portfolio of websites to be losing popularity. The company was forced to respond to the large sell-off in its stock by saying its