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Hargreaves Lansdown looking to recover from capital punishment
"The board has concluded it needs to retain an additional £50mln of capital and hence the group will not pay a special dividend"
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LON:HAT
H&T Group PLC is the UK's largest pawnbroker and provides a range of financial services to meet customers' needs. The company is also one of the largest retailers of high-quality pre-owned and new jewellery and watches.
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"The board has concluded it needs to retain an additional £50mln of capital and hence the group will not pay a special dividend"
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Week ahead includes UK inflation, unemployment, average earnings data; trading update from Kingflsher PLC, interims from Hargreaves Lansdown PLC, Admiral PLC ...
Some the main risers and fallers in London at 2.45pm: Quadrise, Concha, Oilex
"The group has delivered a strong financial result in 2016 with a solid operational performance assisted by a higher gold price."
Investments and investor services
Around 3.30pm, the FTSE 100 index was up almost 28 points at 7,371, just below the day’s best level of 7,376, having only hit a low of 7,342
H&T had an aureus anni - that's a golden year to thee and me (if Google translate is to be trusted)
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A glance at some of the stories on the Proactive newswire today.
The business, over 100 years old, said the pledge book had increased 5.9% to £41.3mln
“The real story is how the growth of the personal loans business will play out over the next few years."
Also covered: Blur, Eckoh, Eurasia, FairFX, H&T, Rosslyn, KrisEnergy, Sierra Rutile, Tern, ValiRx, Xtract Resources
Shares in H&T are up more than 40% this year, as investors spotted the benefit the group was likely to reap from the recovery in the gold price
The hook-up should provide a new source of business for H&T
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Brokers were obviously impressed with yesterday’s rally in the mining sector as both Credit Suisse and Jefferies upgraded
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The online food order and delivery service received a boost from the bank, while elsewhere insurance firms were in the spotlight
The group enjoyed a strong first half of trading in 2016 as it capitalised on the surge in gold prices, increasing profits while reducing debts
The dust is starting to settle after the EU referendum vote, which should mean companies can have a bit more confidence in forecasting the impact
In line with management's expectations, it has also increased the personal loan book by 82.4% to £6.2mln.
Even with the tailwind of a weak exchange rate, manufacturing activity is contracting in the UK. Also covered: gold, Armadale, Sabien, Trakm8, Tribal Group.
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Meaty profits for Domino's pizza, a new deal for Tethys Petroleum and Genel Energy sees a drop in revenues.
Here are some significant movers at around 3.15pm....
Pawnbroker H&T Group said it traded well last year, despite difficult markets, and posted a 23.6% increase in pre-tax profit.
Where other pawnbroking businesses have fallen away amid changing market conditions and a lower gold price, H&T Group (LON:HAT) has emerged relatively unscarred.
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Retailers, and their post Christmas numbers, have been in focus all week, big and small, so when online fashion group ASOS (LON:ASC), the largest junior on AIM, reports, small cap investors tend to take notice.
H&T Group reported a solid trading performance for the year, which saw its pledge book stabilise as the pawnbroking market adjusts to a new environment
Investments and investor services
Mariana Resources released a maiden mineral resource estimate for the Hot Maden gold-copper project in eastern Turkey.
While its performance remains dependent in part on the price of gold, H&T's efforts to broaden its range are paying off.
Corporate news on Tuesday is likely to again focus on housebuilders with Persimmon reporting while oil will be in the news with Cairn Energy also releasing interims.
Investments and investor services
Deutsche Bank said the timing and drilling locations for three wells in Senegal could be unveiled. While they are in deep waters off the coast of west Africa, they aren’t technically challenging.
The marketplace is changing, and the new retail products introduced by pawnbroker H & T are doing well