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Tag Archives: royal

Thursday preview: Philly Fed, Royal Mail in the spotlight

The key data release on Thursday was expected to be the Philly Fed´s regional manufacturing index, which economists believed would reveal a small improvement in activity levels for the month of November. As ever, investors would likely also be keeping close tabs on the latest weekly unemployment claims figures. The …

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UBS downgrades Royal Mail to ‘sell’, shares tumble

Royal Mail shares tumbled on Wednesday as UBS downgraded them to ‘sell’ from ‘buy’ and cut the price target to 440p from 590p. The bank said risks to opex were increasing, with potential pricing pressure in UK Parcel. UBS cut its FY22/23 EBIT estimates by 8%/15%, mainly driven by higher …

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Royal Mail sees higher H1 profit as revenues rise 8%

Royal Mail said it expected a rise in first half profits despite rising costs as the pandemic-driven boom in parcel delivery from online shopping continued to drive revenue growth. The letter and parcel carrier said revenues climbed 8.2% to £5.1bn in the five months to August. It added that it …

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