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Investors’ Chronicle: JD Sports, Oxford BioMedica, Tesco

BUY: JD Sports Fashion (JD.) Headline pre-tax profits are expected to reach £475m-£500m this year, as the retailer said partners share its vision of elevation and collaboration, writes Harriet Clarfelt. Physical stores were allowed to reopen this week in England and Wales, in a welcome reprieve for customer-starved retailers with …

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UK stocks climb to highest level since February 2020

The FTSE 100 crossed 7,000 points on Friday to reach its highest level since February 2020 as investors piled into the “value” sectors that feature heavily in the UK blue-chip index.  The FTSE rose 0.4 per cent to 7,014 points, breaching the 7,000 threshold for the first time since the …

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Should investors play the UK reopening trade?

There were scenes of jubilation as lockdown restrictions were eased in England this week. Shoppers queued to bag a bargain in Primark; pub beer gardens are now booked solidly for weeks and restaurant dining is back on the menu — so long as you’re happy to wear a coat and …

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Corporate Europe’s under-appreciated comeback

The writer is Bank of America’s head of global thematic research The US and China have been at the forefront of the key trends this century: trade wars, technology frontiers, economic growth and beyond. Meanwhile, Europe has spent the past 20 years languishing with inferior progress, relatively unloved by investors. …

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Capitalising intangibles and indeterminate losses

Michael Mauboussin is one of the biggest brains in finance. Since this Alphavillain got hold of his book More Than You Know back when we were just beginning to learn the market ropes, we’ve always devoured his academic work, interviews and writing on the occasions it’s appeared in the public …

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Loose monetary policy is today’s biggest market risk

There are no two ways about it, argues Jeremy Grantham: “The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble”. The co-founder of Boston-based-based fund manager GMO says: “Featuring extreme overvaluation, explosive price increases, frenzied issuance and hysterically speculative investor behaviour, I believe this event …

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US government debt prices decline ahead of key inflation data

US government bonds slipped and equities drifted ahead of American inflation data that investors will scrutinise for clues about how long the nation’s central bank can continue with its ultra-supportive policies. The yield on the benchmark 10-year Treasury, which moves inversely to its price, rose 0.02 percentage points to 1.693 …

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Ark ETFs cross-holding and other linkages raise concerns

Interested in ETFs? Visit our ETF Hub for investor news and education, market updates and analysis and easy-to-use tools to help you select the right ETFs. Ark Invest’s keenly awaited Space Exploration and Innovation (ARKX) exchange traded fund has already made its mark — in part by pushing up the …

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