10 February 2023Commodities giants Glencore and BP were among the most bought companies by UK fund managers in 2022 but investors soured on Shell. Here, Trustnet looks at the most stocks most added to and removed from the top 10 positions of UK All Company fund managers. At the start of 2022 it appeared as a top holding in 8.3% of UK All Companies funds, but this jumped to 17.3% by the end of December. UK managers also increased allocations to British American Tobacco (BAT) in 2023, with top 10 positions rising from 15.3% to 19.3% throughout the course of the year. Source: FE AnalyticsUK managers also cut their top 10 positions in supermarket chain Tesco by 2.7 percentage points to 1.7%.
21 October 2022The latest snapshot survey by the FCA has found the cost-of-living crisis is biting hard. Around 35% of people have suffered from a financial shock so far this year, according to the latest financial lives survey by the Financial Conduct Authority (FCA). Myron Jobson, senior personal finance analyst at interactive investor, added that the nation’s financial resilience is “on a knife’s edge” and said the survey was “desperately worrying”. “It’s vital people think about how the rising cost of living could impact their financial wellbeing and consider what protective steps are necessary to take now. There are free debt services available, and the FCA has told firms that they must work with their customers to solve any problems with payment.5 months ago Trustnet
17 November 2022The chancellor has just unveiled his first Autumn Statement, outlining his priorities as the UK faces an uncertain economic future. Today’s statement delivers a consolidation of £55 billion and means inflation and interest rates end up significantly lower. But I will soften the blow on businesses with a nearly £14 billion tax cut over the next five years. And we commitment to our plan today with British resilience and British compassion. It is a balanced plan for stability, a plan for growth and a plan for public services.4 months ago Trustnet
24 October 2022With the support of more than half Conservative MPs, Sunak will be the next party leader and prime minister. Rishi Sunak has been confirmed next Conservative party leader and prime minister of the UK, after Penny Mordaunt pulled out of the leadership race. This was the straw which concluded Truss’s 44-days tenure and set off yet another Conservative party leadership campaign. Mordaunt pulled out of the race last minute after failing to gather the necessary 100 nominations, effectively coronating Sunak next prime minister. ‘’Gone are the days when Rishi Sunak was prepared to open the government coffers up to see the UK through a crisis.5 months ago Trustnet
27 October 2022As uncomfortable as it might be, the current market backdrop creates an opportunity to commit capital to strong business franchises at incredibly attractive prices. Those words were uttered to us recently in relation to the UK equity market by one of our longer standing, highly experienced stockbroker contacts and it encapsulates current sentiment perfectly. We haven’t yet asked for the updated version following the latest UK political shenanigans although we strongly suspect it would not be printable. While perhaps not a total surprise given recent events, the scale of outflows from UK equities this year is quite something. Consequently, as uncomfortable as it might be, the current market backdrop creates an opportunity to commit capital to strong business franchises at incredibly attractive prices.5 months ago Trustnet
28 October 2022The FTSE All Share has made 46.4% on average during the term of a Conservative prime minister. The UK has stability, for this week at least, after it was confirmed that Rishi Sunak had won the Conservative party leadership race. The new prime minister was sworn in on Tuesday, with the outgoing Liz Truss leaving the country, economy and markets in far worse shape than she took office just 49 days before. However, those looking for crumbs of comfort in the post-Truss world could take solace from the fact that markets do tend to do better under a Conservative government. The largest gain was made under Margaret Thatcher, with markets up 270.6% during her time as prime minister.5 months ago Trustnet
09 January 2023Bets against the UK’s 10 most shorted companies dropped for a second month running, with positions in Boohoo falling the furthest. Online fashion retailer, ASOS remained in the top spot after gaining the highest number of short positions the month prior, but bets against the company dropped by 1.4 percentage points. Things are looking more positive for fellow fashion retailer, Boohoo, as short positions in the company dropped 3.3 percentage points throughout December. Of the companies that did have an increase in short positions last month, home improvement business, Kingfisher had the most sizable hike of 0.7 percentage points. Shorts in the company have since reduced to 5.8% after its share price gained 4.6% over the past six months.2 months ago Trustnet