Data feeds are showing an incredible surge in the price of Hammerson’s stock this morning but that’s off the back of the company completing a 10 for one share consolidation. Without any other external factors, the share price should be showing a 900% gain, so the fact the upside is being recorded as a mere 894% just over an hour into the day actually reflects a 0.5% loss on the morning’s trade so far.
Sports car manufacturer Aston Martin published a trading update this morning, including an adjustment to full year guidance. Wholesale volumes have been revised down by around 1000 units to reflect supply chain issues and continued macroeconomic weakness in China. That means EBITDA forecasts for the full year are declining and H2 free cash flow, whilst improved, will remain negative. Management may be focused on still meeting FY25 targets but that has done little for the Aston Martin share price which is down 25% in early trade.
The online estate agency saw its share price slump in early trade after management issued a note advising once again that it was recommending shareholders do no accept the REA offer, which at today’s prices gives a valuation of 780p per share, plus a 6p dividend. The scale of the current discount – Rightmove is trading around the 650p mark – and news thar Rightmove have rejected REA’s request to extend the put-up-or-shut-up deadline certainly hints that there’s little confidence the suitor will make a firm bid by the time the offer window closes tonight. Rightmove’s share price is down 3% at 9.30am.
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Rightmove – Statement re rejection of possible offer
