Latest Features & market analysis news
Shares of Travis Perkins PLC (LON: TPK) fell around 9% on Tuesday after the company reported that its profits plummeted 81% in the first half of the year following the coronavirus-induced lockdown measures and shutdown of construction sites. Fundamental analysis: Construction halted Lockdown measures forced the company to shut its building sites, which then led a plunge in sales by 20%. Moreover, lower sales and revenue resulted in 2,500 j...
Shares of JD Sports Fashion (LON: JD.) gapped more than 9% higher today despite the fact that the sportswear retailer scrapping its dividend following a plunge in pre-tax profits. Fundamental analysis: Better-than-expected results? JD Sports said today it plans to scrap its dividend following the company’s earnings report that showed a strong decline in profit and warned about the uncertainty of future outlook. The sportswear retailer reported r...
Bitcoin (BTC) price is currently trading over 2% in the red on a weekly chart as technicals point to a continuation in the downtrend in the coming days and weeks. Fundamental analysis: Can Bitcoin stage a rally? Bitcoin price recorded some sharp price swings over the last week, keeping investors alert. The price action is hovering around the $10,000 mark after failing to keep its head above the $12,000 handle. This week could be very...
Shares of Future PLC (LON: FUTR) skyrocketed 20% on Monday after the media company raised its full-year profit guidance as it continues to profit from the shift to digital media. As a result, Future stock price is trading at the all-time high above GBX1700. Fundamental analysis: Future raises full-year profit guidance Future estimated its adjusted operating profit through September 30 to be “materially ahead” of current market estimates, which ra...
Shares of Associated British Foods (LON: ABF) rose 6% this morning after the owner of Primark said it expects its sales to hit $2 billion after the reopening amid the pandemic. Fundamental analysis: Food sector doing well Primark said its sales figures beat the estimates following the reopening of its stores after the lockdown, however, the sales are still lower than last year. The company said sales after the reopening would reach £2 billion, wh...
Binance Coin (BNB/USD) price has rebounded strongly today as the buyers attempt to erase losses from the past few days. The exchange rolled out the Binance Smart Chain (BNS), which is a parallel blockchain to the Binance Chain utilized for smart contracts. Fundamental analysis: BNS helping dApp developers As Invezz reported a few days ago, Binance presented Binance Smart Chain to provide dApp developers with more freedom to create on the network....
USD/JPY price closed the week nearly 1% higher as the price action continues to trade in the sideways manner. Yoshihide Suga, the incumbent Chief Cabinet Secretary of Japan and a clear frontrunner in a race to become the next PM, reiterated that he would prefer to keep Abe’s ultra-loose monetary policy. Fundamental analysis: Suga to replace Abe? Yoshihide Suga stated he would prefer the central bank to keep using its ultra-easy monetary policy si...
Ethereum (ETH/USD) price is trading around 20% lower this week despite hitting the highest levels since June 2018. Fundamentals have also approved for the world’s second largest digital asset as Ethereum network expanded from less than 1 million contract calls in June to 3 million per day. Fundamental analysis: A network congestion? A huge expansion in the Ethereum network, equal to an increase of 300% over a period of three months, will only in...
Shares of Softbank Group (T: 9984) fell more than 3% on Friday after the Financial Times unmasked the Japanese giant as the “Nasdaq whale” who placed billions in tech stock options. Fundamental analysis: Softbank’s bet on tech giants Softbank Group bought billions and billions worth of stock options in the past few months as the Japanese behemoth invested aggressively on fast-rising tech stocks. The Street was speculating for weeks that cer...
GBP/USD price surged above the $1.33 handle for the first time in 2020 as the dovish message from the U.S. Federal Reserve sent the greenback lower. Fundamental analysis: New inflation policy from the Fed The U.S. dollar plunged sharply on Friday against a basket of currencies, largely due to lower U.S. interest rates outlook, while the Japanese Yen climbed on news that Prime Minister Shinzo Abe will resign. The JPY managed to recover some...
Ripple (XRP) price broke below key short-term support at $0.27 as the sellers assumed control of the price action. In the meantime, the crypto giant is facing a lawsuit in Australia. Fundamental analysis: Legal troubles for Ripple A large Australian financial services company is pressing charges against the crypto company Ripple Labs on trademark infringement allegations. The payments firm New Payments Platform Australia (NPPA) said in a c...
Shares of United Airlines (NASDAQ: UAL) gained around 2% after the carrier announced the biggest pilot job cut in history as it moves forward with plans to sack 2,850 pilot jobs in October and November. Fundamental analysis: Pandemic consequences On Thursday, United Airlines announced it will cut 2,850 pilot jobs this year, 21% of its total pilot staff, making it the biggest pilot furlough in history. The airline has requested an additional $25...
Shares of Amazon (NASDAQ: AMZN) printed a fresh all-time high today on reports that the e-commerce giant plans to roll out a luxury brand fashion platform in September. Fundamental analysis: Challenges ahead According to a report in Women’s Wear Daily, Amazon is working for a long time on a new platform that will offer an opportunity to a number of European and American brands to present its products online. Accordingly, luxury brands will...
Shares of Rolls-Royce Holdings PLC (LON: RR.) tumbled almost 10% early this morning after the British firm reported a record loss for the first half of the year. Fundamental analysis: Demand slumps Rolls-Royce, which produces engines for jets, announced a pre-tax loss of £5.4 billion for the first half of this year. The operating loss was reported at £1.7 billion in the first half of the year as flying hours crashed 70-75% in May, June and...
Bitcoin (BTC) price has been dragged lower to test weekly support near $11,000 after the buyers failed to close above the $12,000 handle last week. Fundamental analysis: A beginning of another bull market? The largest Bitcoin exchanges and crypto wallet apps such as Coinbase, Blockchain Wallet, Binance, BRD and others registered record-high combined downloads last month, largely thanks to the fact that many institutional investors turned to...
Xiaomi (HKG: 1810) stock price soared nearly 6% to trade at a 2-year high near the 20.00 handle. The producer of smartphones topped market expectations for the second quarter. Fundamental analysis: Revenue rises Xiaomi posted revenue of $7.77 billion in the second quarter, which is 3.1% higher than a year ago. This is also 7.7% higher compared to the previous quarter, as the company started recuperating in most international markets amid the pand...
Shares of Best Buy (NYSE: BBY) moved higher to hit a fresh record high near $120.00 on the back of a strong performance the company delivered in the second quarter of the year. Fundamental analysis: Stronger-than-expected sales Best Buy posted better-than-expected sales growth results today for Q2 2020, driven by the biggest-ever surge in online sales on a quarterly basis as clients massively bought computers, kitchen utilities and other pr...
USD/JPY price gained on Tuesday as global equities raced higher on positive news related to the coronavirus vaccine developments and indications about progress in the trade deal between the U.S. and China. Fundamental analysis: Equities gain on improving risk sentiment Global equities moved on reports that high ranking officials representing the U.S. and China held a phone call and reaffirmed their commitment to the Phase 1 trade deal...
Shares of AstraZeneca PLC (LON: AZN) gained over 1% on reports that the U.S. government considers fast-tracking the approval for Astrazeneca’s coronavirus vaccine in the States before the forthcoming presidential elections, according to a report by the Financial Times. Fundamental analysis: Unrealistic scenario? The FT report said that President Donald Trump is considering several options, one of them including the FDA’s approval for the emergen...
Shares of BT Group PLC (LON: BT.A) gained around 9% on Monday on weekend reports that the firm may be a subject of the £15bn ($19.6bn) takeover bid. As a result, BT is looking to draft a new defence strategy against the takeover approach. Fundamental analysis: Goldman instructed to prepare a defense strategy BT Group has reportedly asked Goldman Sachs to prepare a new defence strategy against a potential takeover bid from rivals after BT’s...
Shares of Frasers Group PLC (LON: FRAS) slipped 0.5% in London trading today after the retailer acquired a part of assets of Dave Whelan’s DW Sports for £37 million. Fundamental analysis: Over 900 jobs saved Mike Ashley’s Frasers Group agreed to pay £37 million to purchase a part of DW Sports’ assets. DW Sports is in administration, hence 922 employees are saved from losing their jobs. The retailer collapsed into administration earlier in A...
Shares of Chevron Corporation (NYSE: CVX) are likely to join other oil stocks in tumbling on Monday after the company has been forced to shut production and commence evacuation of its crews from the US Gulf of Mexico ahead of tropical storms. Fundamental analysis: Another issue for oil producers Chevron joined Shell, BP, and Equinor in announcing it will shut production at its four facilities in the US Gulf of Mexico ahead of the announced...
Shares of Volkswagen AG (ETR: VOW) are set to open lower on Monday after luxury sports vehicle unit Porsche AG launched an investigation into suspected engine manipulation. Volkswagen stock price ended the prior week over 2% lower. Fundamental analysis: New scandal on the horizon? Porsche has notified KBA – Germany’s automotive watchdog, the Stuttgart prosecutor’s office, and U.S. authorities of “suspected illegal changes to hardware...
Ripple (XRP) price has fallen nearly 8% this week as the sellers take control of the price action. The sellers have been working on a specific bearish chart pattern that could eventually take the price action to low $0.20s. Fundamental analysis: 20% of RippleNet transactions is based on XRP Asheesh Birla, Senior Vice President of Product and corporate development at Ripple, has stated that 20% of RippleNet transactions are performed with XR...
Shares of Microsoft Corp (NASDAQ: MSFT) hit a fresh record high this week above $217 as the buyers continue to dominate the price action. The latest news from the United States shows that the tech giant may win a new batch of contracts with governments worldwide. Fundamental analysis: JEDI is a win The Joint Enterprise Defense Infrastructure, or JEDI, could prove to be much more valuable to Microsoft than initially thought. This cloud-based servi...