Equities Update: Currys, Vistry…

Currys standing tall on its own

Adam Vettese, Market Analyst at investment platform eToro, says: “Just a few months on from bidders circling and looking to swoop for a takeover, this latest update from Currys shows that the company has been doing just fine on its own. Interest in AI-enabled devices as well as England’s run to the Euro 2024 final boosting demand for TVs has put Currys in good stead, with growing revenue ahead of the peak festive period. With inflation pressure easing, this could be very timely as household budgets may allow for the latest electronics as Christmas gifts.

“Should potential bidders Elliot Advisers or JD.com think about returning, they will have to fork out considerably more than was rebuffed earlier this year with shares having gained some 20% since then.”

Vistry increases share buybacks as demand for affordable housing intensifies

Mark Crouch, Market Analyst at investment platform eToro, says: “Vistry has posted another earnings increase as demand for affordable housing intensifies. With a partnership model that is suited to tightening economic conditions, providing affordable housing is the foundation on which Vistry’s partnership is built. By breaking down each region into individual housing groups, developing relationships with local authorities and housing associations, the strategy has yielded excellent results.

“And with Vistry shares vastly outperforming the wider market, up nearly 50% in 2024, the company’s strategy has received an emphatic thumbs up from investors. That’s despite the housebuilder scrapping its dividend in 2023, instead opting for share buybacks, which has proven to be the right decision, returning cash to investors in a tax efficient way. All of this points to a company that is actively seeking to drive up efficiency in every aspect of its business.”