CITY TALK
Battery Warning
ACCORDING TO FINSERVICES
fi rm Hargreaves Lansdown, the
feeling of relief in the British car
industry was almost palpable
last month when Jaguar Land
Rover said it would invest
billions in producing new
electric vehicles in the UK. After
the recent closure of two other
UK automotive factories in fi ve
months - Honda in Swindon and
Ford in Bridgend – it was good
news for the 2,500 workers at
the Castle Bromwich plant.
Here’s the thing though,
amid the congratulations JLR
boss Ralf Speth struck a note
of warning. Not on Brexit this
time, but on the future of the
car sector in the absence of a
British battery industry. “One
thing is clear: if batteries go
out of the UK, then also the
automotive production will go
out of the UK.”
Gamma shares were trading
down at 1050 at the time of
writing, back to where they were
in April prior to their peak of 1195
at the end of May this year.
Gamma said (10 July) it
expects revenue to meet
market expectations but
earning per share are now
anticipated to beat forecasts.
CEO Andrew Taylor said:
“I am delighted to announce
that in the fi rst half of 2019
we have continued to deliver
strong revenue and gross profi t
growth across all business
areas, representing a positive
performance.”
The company said that as of
June 30, it had a cash balance
of GBP44.6 million compared to
GBP35.5 million from the end of
December, a 25% rise.
Pre & Post EU Referendum Vote
KEY CHANNEL INDICATORS
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unionstreet.uk.com
Indicator 23 Jun 15 July 19 Change Change %
FTSE 100 6,338 7546.00 1208.00 19.06%
FTSE 250 17,333 19598.00 2265.00 13.07%
BT 439.70 190.18 249.52 -56.75%
Vodafone 217.90 130.56 87.34 -40.08%
TalkTalk 226.60 105.10 121.50 -53.62%
Gamma 440.50 1050.00 609.50 138.37%
£/$ 1.487 1.252 0.235 -15.80%
£/€ 1.307 1.112 0.195 -14.92%
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