Weekly Investment Update
31 May 2017 to 06 June 2017
The Irish government is planning to sell a 25% stake in Allied Irish Banks, which was bailed out by the government in 2009 at a cost of around £18.3bn. The sale could raise around £2.6bn.
Finnish real estate investment company Sponda has accepted a bid of £1.5bn by US private equity business Blackstone Group. Sponda owns office and real estate in Finland’s largest cities.
Ride hailing business Uber has said that its losses shrank in the first three months of 2017, from £767m last year to £549m. The firm, which is not a publicly listed business and doesn’t make detailed financial results public, said revenues in Q1 rose 18% to £2.6bn from Q4.
FirstGroup, the Scotland based transport business, has reported a 23% rise in annual pre-tax profits to £207m with revenues up 8.3% to £5.7bn. The firm’s North American school bus business performed well benefitting from the weak pound.
Amazon has seen its share price rise above the $1,000 mark for the first time in its 20-year history. The increased price has taken Amazon’s market capitalisation to around £377bn, which is twice that of Wal-Mart. Domestic appliance retailer AO World has seen its annual losses widen to £12m, however revenues rose 17% to £701m.
House prices in the UK have fallen for the third consecutive month, according to a report by Nationwide. Prices in the month of May fell by 0.2%, and by 2.1% annually.
The US economy added 138,000 new jobs in May, less than expected. The unemployment rate now stands at 4.3%,
its lowest level since 2001.
Brazil’s economy has grown by 1% in Q1, meaning it has emerged from the longest recession in the country’s
history. A record harvest of soybeans gave the economy a boost. During the last two years its economy has shrunk by
The pace of expansion in the Indian economy slowed during Q1 to an annualised pace of 6.1%, down from 7%
South Africa’s economy has slipped into recession as it shrank by 0.7% in Q1, following 0.3% fall in Q4. South If you have any queries or wish to seek advice, please contact us.
Africa is the third largest economy on the African continent and is now in its second recession in the last decade.
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Courtesy of Legal & General
This article is not intended to provide advice. The information provided is for general information purposes only and should not be relied upon by private investors or any other persons.