After touching a 22-year low on Monday, Provident Financial’s share price spiked massively on Tuesday morning, reaching a six-month high of 1,075p, as it resolved one of its investigations with the Financial Conduct Authority (FCA).
Provident Financial’s shares have sunk to their lowest point since 1996 as rumours swirled that the firm might include a £500m rights issue in its annual results.
Provident Financial’s share price saw a modest gain on Friday morning after confirming it had finally found a CEO replacement.
Although last year brought “tough times” for Neil Woodford, the star fund manager said he will not back down from his contrarian positions but will attempt to provide greater clarity on his views to appease shareholders.
Wednesday trading brought fresh pain for Neil Woodford-majority owned companies, Provident Financial and Utilitywise, putting him on shaky ground early into the new year.
Tuesday was a mixed bag for FTSE 250 trading updates, with Provident Financial predicting a bigger loss for its troubled home credit division and JD Sports and Ashmore reporting that business is booming.
Provident Financial’s car finance division Moneybarn is being investigated by the Financial Conduct Authority over loan affordability assessments and its treatment of customers facing financial difficulties.
This year’s FTSE 100 promotions have one thing in common – they reflect investors’ insatiable appetite for growth, growth and more growth.
Provident Financial has confirmed that its executive chairman Manjit Wolstenholme has died at the age of 53.
Provident Financial’s shares rebounded sharply as it updated the market on its recovery plan, offsetting a £120m loss and news it will not be paying a full-year dividend.
Royal Mail and Provident Financial have been ejected from the UK’s top 100 listed companies following the index’s latest quarterly rebalance.
Following a week of profit warnings and dramatic share price movements from FTSE favourites, are the UK bears right? Is this a sign of more trouble ahead for UK businesses?
