A 14% discount to net asset value at Strategic Equity Capital (SEC) suggests significant rerating scope remains at this concentrated trust of 20 carefully selected small cap names.Since seasoned investor Ken Wotton took over as lead manager last September, the discount has narrowed, and we think an improved net asset value performance driven by portfolio changes offers a catalyst to bring the...

Shares in estate agency Countrywide (CWD) jumped 7% to 365p first thing on Monday, valuing the firm at £123m, on confirmation that it is in discussions with rival agency LSL Property Services (LSL) 'regarding a possible all-share combination.'Reports had begun circulating at the weekend that the companies, two of the UK's largest listed estate agencies, were in talks about a possible...

The FTSE 100 tumbled on Monday as Italy's lockdown and a sharp rise in cases in South Korea fueled market fears over the coronavirus outbreak becoming a pandemic.The UK's benchmark index plunged close on 3% to 7,187.17, worse than Asian markets overnight. The Hang Seng in Hong Kong fell 1.8% to 26,820 and the Shanghai Composite in China fell 0.3% to 3,031.Though, as is usually the case in...

London's FTSE 100 recovered some of the heavy ground lost yesterday, rising a modest 11.3 points to 7,423.3 early on Tuesday, although markets are likely to be in a holding pattern until there is greater clarity on how and when the coronavirus can be contained.Recently in the doldrums following a savage profit warning last summer, IRN-BRU-to-Rubicon maker A.G. Barr (BAG) fizzed 14.7% higher to...

Today's Queen's Speech setting out the legislative agenda for Theresa May's minority government was a slimmed down affair and the market reaction also seems modest.Sterling is strengthening slightly after a pledge to 'build the widest possible consensus on the country's future outside the European Union'. The tone suggesting a 'softer' approach to Brexit. Eight of the 27 bills outlined relate...

Estate agents often top the list for the least popular professionals and they can also quickly lose favour with investors at the slightest bit of bad news.We believe sentiment has become too negative for Countrywide (CWD) and that its shares are worth buying after a 50% fall in the past 12 months.Its shares look too cheapCountrywide is the UK's largest estate agent. It is now valued at less...

The potential impact to earnings from the recently-announced ban on upfront lettings fees is beginning to emerge for the quoted property agent contingent.The move, announced in the Autumn Statement, led to big share price declines at the likes of Countrywide (CWD), compounded by a mild Brexit-related warning (24 Nov). Other names suffering a decline included LSL Property Services (LSL) and...

The market is underwhelmed by Chancellor Phillip Hammond's Autumn Statement although there are a few notable stock movements including infrastructure specialists and estate agents.MARKET UNDERWHELMEDThe domestic focused FTSE 250 barely moved on Hammond's statement. That's despite a promised reduction in corporation tax to 17% and the announcement of a £23bn infrastructure and innovation fund...

The FTSE 100 is up 0.6% at 6,863.3, taking its cue from a positive session on Wall Street overnight and ahead of the Autumn Statement at 12.30pm.Travel operator Thomas Cook (TCG) gains 3.7% to 76.3p as it announces its first dividend in five years alongside full year results and reports 'encouraging' summer bookings for 2017. Profit after tax more than halves year-on-year to £9m, reflecting...

The number of house sales in the UK is expected to fall in the second quarter of 2016, estate agency LSL Property Services (LSL) warned on Thursday.In an update the group saw revenue from house sales improve 19.9% in the three months to 31 March, but reports a softer market in April.Shares in the £305 million cap remained largely flat on the update, moving 0.9% higher to 293p.Such an upbeat...

Shares in estate agency and lettings business LSL Property Services (LSL) remain flat as 2015's results offered few surprises.The stock trades 0.7% higher to 260.5p as operating profit edging 2% higher during the calendar year to within touching distance of £43 million.Investors received a 2% higher dividend than they did in 2014 at 12.6p a share, a 4.8% yield.The only figure that has made...

London equities make fractional gains in early trade on Thursday with rising miners and oilies only just outstripping falls among utilities, financials and pharmas. European markets are modestly firmer overall, following drops on Wall Street and across Asia after the Fed Reserve held its benchmark interest rate overnight.The FTSE 100 index nudges just a point or two higher to 5,990, although...

Estate agency and related services provider LSL Property Services (LSL) trades 3.8% lower at 360.5p as interim pre-tax profits 80%. The group, which owns 12 estate agency brands including Your Move, is seeing a massive slowdown in residential sales, slashing pre-tax profits from £31.4 million a year ago to just £6.2 million.The company is blaming uncertainty in the General Election run-in...

London equities recover from declines posted at the market open to rally modestly with miners reversing early falls despite commodity prices acting as a drag on the sector. The start of the UK government's £2.1 billion share sale of its stake in Royal Bank of Scotland (RBS) is another big issue that will be closely watched by investor on Tuesday.The benchmark FTSE 100 index manages to nudge...

Expectations of a breakthrough in the Greek crisis helps send London's blue chip index 62.92 points higher to 6,643. Investors hope a deal to stop the country exiting the Eurozone can be reached after Athens submitted a new plan to tackle its huge debts. Tax rises and pension reform are at the heart of its proposals.The FTSE has also been buoyed by European and Chinese investment funds, which...

While the surprise Conservative majority win is good for equities short-term, investors should not lose sight of a possible EU referendum which could be highly disruptive for the UK stock market.All the major UK indices rallied on news of a Tory victory (8 May) as it removed market uncertainty and led to the removal of valuation discounts previously placed on a wide range of stocks on the...

Although Mill Residential REIT (MRR:AIM) is pitched as a direct alternative to buy-to-let properties it is better characterised as a vehicle which can compliment a wider buy-to-let portfolio.The pre-Christmas float of Mill Residential provides a means of putting buy-to-let properties into your pension. The company became the UK's first residential real estate investment trust (REIT) when it...

London shares rise the fourth day straight on Friday as huge gains on Wall Street overnight provide a boost to confidence. The Dow Jones index chalked-up its biggest one-day gain in three years, ending 2.4%, or 421 points higher at 17,778.15. The UK's blue-chip FTSE 100 index echoes that upbeat sentiment on Friday, up 0.7%, or 45 points, to 6,511 in early deals and has now risen by over 5%...

This year Christmas came slightly early for those looking to buy property. After revolutionising the pensions industry in April's Budget, Chancellor George Osborne turned his attention to property in the Autumn Statement (3 Dec) cutting the cost of buying a home for the majority of house-hunters in England and Wales.The development prompts Shares to look at the various options available to...

UK stocks move modestly higher in early trading Thursday, returning to the recently positive path after slipping back on Wednesday, its first reverse performance in six sessions. Stimulus hopes in China and easing concerns about the Japanese economy give London equities a boost, the FTSE 100 trading 20 points higher at at 6,629 in early deals.Sir Richard Branson's bank Virgin Money (VM.)...