CITY WHISPERS: Are Hipgnosis traders set for an Easter rinsing?
Things are getting ever extra discordant for traders in Hipgnosis.
The music fund, which owns the rights to songs by artists comparable to Shakira and Justin Bieber, noticed its shares plunge to an all-time low final week after it slashed the worth of its portfolio by 1 / 4.
It stated its huge catalogue may very well be price as little as £1.5 billion, which is 26 per cent lower than what it was valued at in September.
This pushed shares to a report low of 53p, a far cry from their peak of £1.29 in late 2021.
In a fair much less comforting signal for traders, Hipgnosis, the brainchild of music mogul Merck Mercuriadis, has stated it would give one other replace to the market on March 29.
Elephant within the room: Hipgnosis has stated it would give one other replace to the market on March 29
This is, Whispers notes, Good Friday and a Bank Holiday.
It will delay the opportunity of extra share worth distress because it leaves a four-day break earlier than buying and selling resumes on the Tuesday.
Perhaps Mercuriadis simply desires to eat his Easter eggs in peace.
Richard Griffiths tripled his holding in IQE
There was a lift for IQE final week as ‘Welsh wizard’ Richard Griffiths tripled his holding within the semiconductor agency to 7.6 per cent.
The former sheep farmer is understood for his success in backing companies comparable to Nanoco, GVC and Oxford Nanopore Technologies.
Maybe his newest transfer will work some magic on IQE’s share worth, which has but to get better from a plunge a yr in the past.
M&S scoops vogue retailer award
Britain’s prime shopkeepers gathered on the swanky Grosvenor House Hotel in Mayfair final week for the annual awards hosted by commerce rag Retail Week.
Among these on the rostrum have been Sainsbury’s boss Simon Roberts, who clinched retail chief of the yr. Tesco received the gong for greatest massive retailer.
Perhaps the largest winner of the evening was M&S, which secured the trophy for vogue retailer of the yr.
None shall be celebrating more durable than the agency’s head of clothes Richard Price. He has spent the previous 4 years, together with director of womenswear Maddy Evans, making Marks & Spencer trendy once more.
What a makeover!
Ship dealer Clarksons buoyant
Clarksons posted a report set of outcomes.
The FTSE 250 agency has been in demand as Houthi insurgent assaults within the Red Sea have left transport corporations scrambling to safe passage on various routes. But buried in its outcomes was one more reason.
Clarksons flagged that the shortage of ships had been exacerbated by a push to inexperienced fuels because the sector battles to carry down emissions.
This is making house owners hesitant to order extra vessels because of worries that they could not choose the precise gas know-how. Not precisely plain crusing, eh?
Contributors: Francesca Washtell and Leah Montebello
