STOCKS TO WATCH: Russians are coming – with Tui in the sights
STOCKS TO LOOK FOR: Russians are coming – with travel company Tui in the sights
The situation for travel agencies finally appears to be improving as restrictions ease and families are tempted to rush overseas for some sunshine.
However, Tui’s shares have fallen in recent weeks and that appears to have prompted its largest shareholder to act.
Russian steel tycoon Alexei Mordashov recently shelled out around £ 3.8million more on his shares, bringing his family’s stake to 32%, from 25% last year, to around 1.2 billion of pounds sterling.
In the frame: Tui’s stock has plummeted in recent weeks and this appears to have prompted its largest shareholder to take action
Share purchase brings his family’s stake closer to the 36% they are allowed to keep without making a take-over bid under amended rules as part of Tui’s state-backed bailout Last year.
The Mordashov clan also owns the gold miner Nordgold, which last month postponed a listing in London.
Would they be tempted to do a swoop for Tui instead?
Questions before the BT AGM
Pass the popcorn for BT’s annual reunion this week. The telecom giant’s resolutions are all passable, so the main focus of the largely virtual event will be the personalities on display.
It will be the swan song of outgoing president Jan du Plessis, appearing alongside pugnacious boss Philip Jansen after rumors of tensions.
The shareholder event will be the first since famous Franco-Israeli billionaire Patrick Drahi appeared on the register last month with a 12% stake through his Altice vehicle.
So far he has openly supported Jansen and his strategy, but the city gossip is busy guessing his intentions.
The investor meeting will certainly be the perfect stage for Drahi to speak.
Verditek issues ‘green’ bond to raise £ 500,000
The publicly traded tiddler Verditek, a solar panel maker chaired by former Tory minister Lord Willetts, is issuing a ‘green’ bond to raise £ 500,000.
Amid the rush of fund managers to invest in “environmental, social and governance” stocks, the company is offering a 7% yield on the two-year bond, which is issued via the crowd for crowdfunding platform. Angels and will help expand its facilities. in Italy.
The action peaked at 18p last year, but is currently languishing at just 2.4p.
Bank stocks in the spotlight
Bank stocks will be in the spotlight this week as the Bank of England’s Prudential Regulation Authority prepares to remove dividend caps.
Analysts have raised Divi’s forecasts and price targets for big guns, including Barclays, Lloyds and NatWest.
Meanwhile, there is a payment in sight at minnow Manx Financial.
The AIM-listed lender is set to declare its first dividend, further enriching Arron Banks, one of the so-called Bad Boys of Brexit, who is expected to shell out £ 29,000 on his investment in Manx, which is led by billionaire Brexit-backer Jim Mellon – the man who allegedly introduced him to a certain Nigel Farage.