This week’s guest editor is Alan Hudson, Head of UK and Ireland Restructuring. Inflation to the left of me, online rivals to the right…many of our retailers really do look stuck in the middle, squeezed between rising economic and structural challenges in 2017. This week, we’re looking at the EY ITEM Club’s latest thinking on the … More Why retail?
We talked here before about the differential impact of BREXIT on UK share prices, but what about multiples? This week we’d like to look at how UK market multiples have changed in the last year – in absolute terms and against their European peers. A few sectors stand out in particular…could this make them a target … More The ‘BREXIT delta’
Political risk, inflation and uncertain monetary backdrop… and still leverage loan issuance reached its highest level since the financial crisis at the start of 2017. Can nothing upset debt markets? Given the continuing high level of support from monetary policy and a better than expected economic outlook, the likelihood is that conditions will remain broadly … More What about debt?
I was delighted to be invited to sit on a CASS Business School panel last week to discuss the M&A outlook. I’d like to share some of the observations here – especially in the light of the fast moving events that happened shortly after! These are uncertain social, economic and political times. But, we seem to … More Thoughts on deal making – and last weekend
At the end of 2016 we wrote about a new era for oil and a new pricing pattern that we thought would hold into 2017. Is the snake still stuck in the drain? How well is our price prediction holding up and what does it mean for M&A and the much beleaguered oil field services … More What’s new in oil?
Profit warnings are a measure of performance against expectation. So, given the overall upside surprise in 2016, it’s not surprising that the annual figure was the lowest for three years. But our data also tells a story of a growing gap between winners and losers. What’s creating such a great divergence, will it last and … More Profit warnings: who’s swimming against the tide?
We said it wouldn’t be a quiet year! This week we’re focusing on two phenomena: what looks set to be a record January for global M&A – surpassing even 2007 – and record equity market performances in the wake of the Dow going through 20K. The dollar looks “interesting” too. As do high-yield bonds – … More Animal spirits trump uncertainty