Ashmore Group (ASHM)

Sector:

Financials

Index:

FTSE 250

477.80p
   
  • Change Today:
    -1.80p
  • 52 Week High: 542.50
  • 52 Week Low: 356.00
  • Currency: UK Pounds
  • Shares Issued: 712.74m
  • Volume: 761,792
  • Market Cap: £3,405.48m
  • RiskGrade: 129
  • Beta: 1.26

Tuesday preview: UK employment, Netflix in focus

By Alexander Bueso

Date: Monday 15 Apr 2019

LONDON (ShareCast) - (Sharecast News) - The market spotlight in the UK on Tuesday will be firmly on the labour market, with both economic data and some well-known corporates likely to help to shed some light on the current situation.
In global markets, the focus will be on a steady stream of corporate announcements in the States, including from Bank of America and Johnson&Johnson before the opening bell, followed by IBM and Netflix after the close.

Economists are forecasting that the rate of unemployment in Britain will edge up by a tenth of a percentage point, from 3.9% in January to 4.0% for February, alongside an acceleration in the rate of growth in headline earnings from 3.4% to 3.6%.

Nevertheless, there may be scope for a positive surprise, says Barclays Research, if stockpiling ahead of the original Brexit date boosted hiring as it did monthly GDP, although "Q1 19 inventory-fuelled upside surprises to growth to be reversed from Q2 onwards."

Barclays expects unemployment to have held at 3.9% and wage growth to have picked up a tad less, to 3.5%.



Global recruiter Hays is among the corporates set to update its shareholders, with Numis's Steve Woolf anticipating a further slowdown in net fee growth during the group's fiscal third quarter to 8% on a year-on-year basis, after an increase of 9% over the preceding three months.

According to the analyst, market conditions had "softened slightly" but the firm's focus on consultant productivity should allow for double-digit growth in the back half of the year.

Woolf also emphasised that companies in the UK were continuing to defer investment decisions.

In New Zealand however, whose construction sector was the group's biggest market, the analyst conceded that there was an ongoing slowdown.

"Elsewhere, we expect the strong growth in the US, Asia and EMEA ex-Germany to continue, benefiting from both additional headcount, and greater productivity from the existing consultant base."



For Ashmore's third quarter trading update meanwhile, Numis's David McCann had penciled-in assets under management of $80.0bn, net flows of -$0.7bn and and performance gains of $3.9bn.

The analyst saw downside risks for the fund manager's net flows in calendar year 2019.

He anticipated a decline of -$4.3bn and told clients that, at about $5bn, the consensus was being "somewhat complacent and likely not factoring in the lag between weakening EM sentiment and Ashmore specific flows."

Nevertheless, "our negative recommendation is a short-term tactical call," he clarified.

"Long term we are fans of Ashmore - but not in the short term given the risks we see to both short-term valuation and forecast."

Regarding Netflix, the analyst consensus was for the streaming video giant to post adjusted earnings per share of $0.58, with the focus likely to be on what the company planned to counter competition from new entrants into the space, including Apple and Disney.

Tuesday April 16

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Capacity Utilisation (US) (14:15)

Industrial Production (US) (14:15)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (GER) - Economic Sentiment (10:00)

FINALS

Card Factory, Flowtech Fluidpower, JD Sports Fashion, Parity Group, Telit Communications

ANNUAL REPORT

Legal & General Group

AGMS

Aberdeen Emerging Markets Investment Company, Cloudbuy, Eland Oil & Gas, Herald Investment Trust, Quixant, XP Power Ltd. (DI)

TRADING ANNOUNCEMENTS

BHP Group, Hays, Mediclinic International

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (09:30)

FINAL EX-DIVIDEND DATE

Sagicor Financial Corporation Limited (DI)



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Ashmore Group Market Data

Currency UK Pounds
Share Price 477.80p
Change Today -1.80p
% Change -0.38 %
52 Week High 542.50
52 Week Low 356.00
Volume 761,792
Shares Issued 712.74m
Market Cap £3,405.48m
Beta 1.26
RiskGrade 129

Ashmore Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.52% below the market average74.52% below the market average74.52% below the market average74.52% below the market average74.52% below the market average
82.22% below the sector average82.22% below the sector average82.22% below the sector average82.22% below the sector average82.22% below the sector average
Price Trend
61.03% above the market average61.03% above the market average61.03% above the market average61.03% above the market average61.03% above the market average
68.49% above the sector average68.49% above the sector average68.49% above the sector average68.49% above the sector average68.49% above the sector average
Income
18.16% above the market average18.16% above the market average18.16% above the market average18.16% above the market average18.16% above the market average
13.58% below the sector average13.58% below the sector average13.58% below the sector average13.58% below the sector average13.58% below the sector average
Growth
3.17% above the market average3.17% above the market average3.17% above the market average3.17% above the market average3.17% above the market average
25.62% below the sector average25.62% below the sector average25.62% below the sector average25.62% below the sector average25.62% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 9
Sell 0
Strong Sell 2
Total 15
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ashmore Group Dividends

  Latest Previous
  Final Final
Ex-Div 31-Oct-19 01-Nov-18
Paid 06-Dec-19 07-Dec-18
Amount 12.10p 12.10p

Trades for 05-Dec-2019

Time Volume / Share Price
16:35 423,948 @ 477.80p
16:29 310 @ 477.80p
16:29 220 @ 477.40p
16:29 110 @ 477.40p
16:29 200 @ 477.60p

Ashmore Group Key Personnel

CEO Mark Langhorn Coombs
Chair David Bennett

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