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Some self-professed cultists investing in Bill Ackman’s SPAC, Pershing Square Tontine Holdings, now are betting on a deal announcement by mid-May.
These retail investors, posting on the Reddit forum r/PSTH, call it “hopium” and it’s just the latest speculation from those who’ve been trying to time the deal, as well as figure out which company will be the SPAC’s merger partner.
The new speculation is based on an April 29 video interview with Ackman on “The Interactive Investor,” a British retail platform, in which the hedge fund manager said that Pershing Square Holdings, his UK-listed hedge fund, had sold its stake in Starbucks about a month ago and was replacing it with “a new investment we haven’t disclosed. You’ll will see the beginnings of disclosure of that probably with a filing we will make in mid-May.”
FTSE 100 dividends surged in April. More passive income for UK shareholders! Image source: Getty Images.
One joy of being a veteran value investor is watching dividends pile up. Dividends are cash payments made to shareholders, usually half-yearly or quarterly. These distributions can be taken as cash, or reinvested into more shares. Not all companies pay dividends, but most
FTSE 100 firms do.
FTSE 100 dividends crashed in 2020
As Covid-19 spread in early 2020, many British businesses feared for their future. UK dividends slumped last year, as companies cut, cancelled or delayed payouts. Some of the biggest cuts came from UK banks and financial firms and from oil supermajors
9 hours ago
UK-listed travel, hospitality and leisure companies issued 90 per cent fewer profit warnings during the first three months of 2021 than they did during the equivalent period in 2020.
However, these companies continue to face a challenging outlook, according to the latest EY-Parthenon analysis of profit warnings.
Between January and March this year, FTSE Travel and Leisure companies, which includes restaurants and bars, recorded only five profit warnings, issued by eight per cent of the sector.
This compares with the record 50 issued in the equivalent quarter in 2020, when the pandemic began.
It is also a decrease on the 11 profit warnings issued in the previous quarter, between October and December last year.
Are we soon to see a soaring stock market? Image source: Getty Images
Global bond markets have been twitchy in recent weeks – and during the second week of March, that twitchiness turned into a rout.
Over just two trading sessions, the yield on United States 10-year treasuries – a popular benchmark – jumped from 1.48% to 1.62%. Here in the UK, 10-year gilts also spiked sharply higher.
And when yields rise, don’t forget, that means that bond and gilt prices are falling: a fixed-income sell-off is under way.
Inflation ahead?
Fixed-income investments – bonds and gilts – deliver, as their name implies, a fixed income. Compared to shareholder dividends, it’s an income that is more stable, more resilient, and more predictable – but also fixed: the price that you pay for a bond or gilt at the point of purchase determines the return that you get.