The market gave a largely positive response to Labour's first Budget with the domestic-facing FTSE 250 index and AIM market both enjoying strong gains following the unveiling of chancellor Rachel Reeves' plans.While the inheritance tax exemption on AIM shares was halved it wasn't abolished as had been feared. Rachel Winter, partner at Killik & Co: 'AIM shares have suffered from a perfect storm...

Jet2 founder Meeson sells five million sharesMajor Costain shareholder sells upWeir director snaps up £60,277 sharesPhilip Meeson, founder and largest shareholder of airline and package holidays provider Jet2 (JET2:AIM) has sold five million shares to a limited number of institutional investors on 11 September, representing approximately 2.3% of the issued ordinary share capital in the...

Costain (COST) 69.6pGain to date: 27.5%We flagged infrastructure and engineering specialist Costain (COST) in late August 2023 at around 55p on the basis a lowly valuation, strong balance sheet and the prospect of a return to the dividend list would eventually be seized on by the market. WHAT HAS HAPPENED SINCE WE SAID TO BUY?We are gradually being proved right. The company declared a dividend...

Stock prices in London opened largely higher on Tuesday morning, with TP ICAP topping the FTSE 250 as it mulls a minority float of its Parameta Solutions arm, while pet care firms struggled amid UK watchdog scrutiny.The FTSE 100 index rose 59.85 points, 0.8%, to 7,729.08. The FTSE 250 climbed 34.28 points, 0.2%, at 19,564.37, though the AIM All-Share fell 2.09 points, 0.3%, at 736.19.The Cboe...

Costain (COST)Price: 64.8p. Gain to date: 18.7%Original BUY @ 54.58p on 31 August 2023When we recommended buying shares in infrastructure and engineering group Costain (COST) we flagged its superior revenue and earnings visibility, thanks to the size of its order book and the security of its customers, which tend to be county councils and major utilities.We also suggested the firm's lowly...

Prime minister Rishi Sunak has floated and announced big policy changes recently from delaying a ban of the sales of new petrol and diesel cares, pulling back on phasing out gas boilers and introducing a New Zealand-style anti-smoking policy.There has also been the public discussion of abandoning or at least curtailing the zero-carbon high-speed railway to the north of England - better known...

It isn't often we come across stocks on a low single-digit PE (price to earnings) multiple with a net cash pile almost equal to their market value but infrastructure and engineering group Costain (COST) is one.Its half-year results were steady rather than spectacular - revenue was flat, operating profit was up 7%, both ahead of forecasts, and basic earnings per share were up 12.8% on an...

Panic in the banking industry overshadowed any big market impact from the Budget on 15 March even if the abolition of the lifetime allowance on pension contributions was a genuine rabbit out of the hat for investors.Previously the lifetime allowance, which is the maximum you can build up in a pension pot without paying extra tax, stood at a little more than £1 million. The motivation for the...

On a miserable day for stock markets amid concerns about the banking sector, UK chancellor Jeremy Hunt managed to pluck enough rabbits out of the hat to halt the decline in the FTSE 250 share index and trigger a small recovery.The FTSE 250 is typically seen as a better benchmark for the UK economy than the FTSE 100 because it has a greater number of domestic companies in its index. Before the...

- First half revenues rise almost 20%- High level of contract bid activity during the period- Dividends remain on holdInfrastructure group Costain (COST) delivered a positive first half trading update and maintained its full year outlook, sending the shares up 4% to 41p.Investors were even prepared to overlook the lack of dividends as the firm said it preferred to focus for now on increasing...

UK stocks began the last trading of the week in better spirits despite a turbulent overnight session for US equities as shares in Facebook owner Meta lost $250 billion in value, the largest single one-day loss in US history, contributing to a 4.2% slide in the Nasdaq 100 technology index.In contrast, Amazon delivered better than expected earnings thanks to its cloud business, sending its...

UK investors were in 'wait and see' mode ahead of a huge week for markets, with central banks in the UK, Europe, Japan and the US set to guide on the future path of interest rates.On Wednesday the US Federal Reserve is expected to announce it will accelerate 'tapering' or reducing its support for financial markets and to issue guidance on when it will raise rates, while on Thursday the Bank of...

Equipment rental firm Speedy Hire (SDY) offers that rare combination of growth and value. Sales and earnings are growing at close to 30%, and the firm has just raised its full year outlook, while the shares are trading on just 15 times this year's earnings and less than 13 times next year.The pace of the firm's recovery from the pandemic has been remarkable, with earnings before interest,...

Shares in leading tool and industrial equipment rental group Speedy Hire (SDY) climbed 5% to 67p on above-average volume after the firm posted a robust first half trading update and raised its full year outlook.Sales for the first half to September rose 28% to £186.6 million thanks to a 31.8% increase in hire revenues and a 22.2% increase in service revenues, driven by the rehire...

Shares in smart-infrastructure solutions company Costain (COST) languished in early trading after announcing first half year results for the first six months of 2021 with the shares slumping 6.3% lower at 59.3p.The muted share price response was despite the company returning to profit during the period, and announcing that full year profits would be in line with expectations.The company...

Enterprise value (EV) is often underappreciated by investors who tend to focus on the market value of a company. It is arguably a better way to value a business than market capitalisation (also known as market cap) because it takes account of debts, preferred shares, minority interest and cash.Put simply, it is the value of the whole business, not just the portion financed by shareholders. In...

London's FTSE 100 made some decent gains by lunchtime on Monday after a volatile morning as rising commodity prices and a $101 billion injection into China's financial system eventually lifted the index.However, weighing on UK stocks were further falls in travel companies, as investors continued to digest new quarantine restrictions placed on European travelers.The UK's benchmark index rose...

Shares in infrastructure firm Costain (COST) slipped 5% to 54.5p after it reported a 'resilient' first half but cautioned it was still waiting for a court decision on one contract and had put aside tens of millions of pounds for the termination of another contract, which would impact its earnings.The firm said it had performed steadily through the pandemic and made 'strong progress with its...

London's FTSE 100 crept higher on Monday, up 0.18% to 6,100.85 early on, as rises in the oil and mining sectors were offset by further falls in travel companies and the $101 billion injection into China's financial system announced overnight failed to really move the market.Among the mining titans, Rio Tinto (RIO) ticked up 1.5% to £47.76, BHP (BHP) also caught a bid, adding 1.5% to trade at...

UK stocks opened higher on Friday after retail sales rebounded in May, helping to offset concerns about a second wave of Covid-19 infections.In early trading the FTSE 100 was up 0.4%, at 6,246.89 following on from a mixed session in the US overnight.The top riser on the index was housebuilder Taylor Wimpey (TW.) following the completion of its £522 million placing to finance opportunistic...