UK banks

No respite in mortgage market; downgrading Virgin Money UK to ‘Underperform’

While spreads on new mortgages stabilised during Q3, we do not think this will persist and therefore expect net interest margins (NIMs) to remain under pressure, with few lenders...

Amryt Pharma

Aegerion deal unlocks global opportunity

The Aegerion deal is clearly transformational; however, of greater interest, is that value accretion for shareholders is just beginning. The enlarged group has a global platform to...

Irish economy

Irish housing starts surge to 26,000, up 33% in Q3 2019

This morning’s Irish housing starts data have beaten all expectations, showing 7,596 commencements in Q3 2019 – up 33% on the year; the 2,648 in Dublin were up 27%. There have been...

Irish banks

Mortgage market reflection following Q3 developments

Mortgage market lending continues to grow and is on track to meet our 11% growth forecast for 2019 despite Brexit uncertainty and weakening house price growth. The market recovery...

Glenveagh Properties

Make yourself at home: long-term opportunity for growth

Glenveagh has materially outperformed its IPO volume targets in the last two years, and there is evidence to suggest that the build-out is still ahead of our expectations into the end...

Monthly Market Monitor

Global equity markets advance for a second successive month

The MSCI AC World Index advanced for a second successive month in October — it rose 1.9% following a 2.0% increase in September. The return brings the benchmark’s year-to-date (ytd)...

Aircraft leasing

Aircraft leasing deep dive: expanding sector coverage

The principal aim of this report is to give investors deeper insight into the four main US/UK listed aircraft leasing companies. Our preference is for businesses that have a strong...

Dalata Hotel Group

Focus on the cash

Investor attention over the past year has focused on slowing RevPAR growth. However, this overlooks the continued growth in free cashflow. Dalata now has one of the highest...

Flutter Entertainment

Positioning for growth in a changing gaming sector

Flutter Entertainment’s (Flutter) acquisition of The Stars Group (TSG) reflects the now much-changed opportunity and risk set for the global gaming sector. It should materially improve...

UDG Healthcare plc

Delivering to plan; building a leading advisory business

UDG Healthcare has committed c.$250m in the last three years in delivering on its strategy to build an advisory business within Ashfield. This now accounts for over 20% of group profit...