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Pin to quick picksHipgnosis Song. Share News (SONG)

Share Price Information for Hipgnosis Song. (SONG)

London Stock Exchange
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Share Price: 101.60
Bid: 101.60
Ask: 102.00
Change: -0.60 (-0.59%)
Spread: 0.40 (0.394%)
Open: 102.40
High: 102.40
Low: 101.60
Prev. Close: 102.20
SONG Live PriceLast checked at -
Hipgnosis Songs is an Investment Trust

To provide shareholders with an attractive and growing level of income, together with the potential for capital growth, from investment in songs and associated musical intellectual property rights.

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LONDON BRIEFING: Superdry annual profit to be hit by weak trading

Tue, 19th Dec 2023 07:36

(Alliance News) - Stocks in London are likely to open flat on Tuesdays, as investors shake off hawkish comments from the US Federal Reserve, but fail to find positive catalysts.

In economic news, investors were considering the latest central bank decision in Japan. The dollar advanced slightly against the yen, after the Bank of Japan left its ultra-loose monetary policy in place.

In commodities, oil prices mostly held onto their gains overnight, having advanced on Monday amid disruption in the Middle East.

Iran-backed Huthi rebels have escalated attacks on tankers, cargo ships and other vessels in the Red Sea, imperiling a transit route that carries up to 12% of global trade. This prompted companies, including BP, to suspend transits through the area.

The US announced a 10-nation coalition to quell Huthi missile and drone attacks on ships transiting the Red Sea, with Britain, France, Bahrain and Italy among countries joining the "multinational security initiative".

"An extended period of disruption in global trade ways should not only sustain energy prices, but also put a renewed pressure on global supply chains and shipping prices. The latter is a threat to inflation," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Here is what you need to know at the London market open:

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MARKETS

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FTSE 100: called up 0.1 of a point at 7,614.58

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Hang Seng: down 1.0% at 16,466.64

Nikkei 225: closed up 1.4% at 33,219.39

S&P/ASX 200: closed up 0.8% at 7,489.10

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DJIA: closed little changed at 37,306.02

S&P 500: closed up 21.37 points, 0.5%, at 4,740.56

Nasdaq Composite: closed up 90.89 points, or 0.6%, at 14,904.81

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EUR: up at USD1.0939 (USD1.0914)

GBP: up at USD1.2676 (USD1.2640)

USD: up at JPY143.83 (JPY143.05)

Gold: up at USD2,025.02 per ounce (USD2,022.88)

Oil (Brent): down at USD78.07 a barrel (USD78.52)

(changes since previous London equities close)

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ECONOMICS

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Tuesday's key economic events still to come:

11:00 CET EU CPI

11:00 GMT UK CBI industrial trends survey

08:30 EST US housing starts

08:55 EST US Johnson Redbook retail sales index

12:30 EST US Fed Atlanta President Raphael Bostic speaks

16:00 EST US treasury international capital data

16:30 EST US API weekly statistical bulletin

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BROKER RATING CHANGES

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Peel Hunt raises Flutter Entertainment to 'buy' (hold)

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COMPANIES - FTSE 250

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Embattled music intellectual property investor Hipgnosis Songs Fund delayed the publication of its interim financial results, which had been scheduled for Tuesday morning. The delay was in light of concerns over the valuation of its assets, given that an independent valuer found its assets to be "materially higher than the valuation implied by proposed and recent transactions in the sector", particularly the proposed sale of assets to Hipgnosis Songs Capital. It expects the publish the results before the end of the year.

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OTHER COMPANIES

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Superdry warned its full-year profit will suffer amid the "well-documented challenging trading environment". The clothing retailer pointed to an "abnormally mild autumn" which resulted in a delayed update of its AW23 collection. Retail fell 13% year-on-year in the 26 weeks to October 28, as Wholesale plunged 41%, which it said was partly due to its US wholesale operation exit. "Despite progress on strategic priorities and ongoing programme to recapitalise the balance sheet, the external environment has proven challenging and trading performance has been significantly below management expectations. Profits for the year are therefore expected to reflect this weaker trading seen to date," the firm warned.

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De La Rue reported its interim results for the six months ended September 30. The security printed products maker said revenue slipped 1.7% year-on-year to GBP161.5 million from GBP164.3 million. Currency revenue fell 2.6% to GBP113.4 million, offsetting a 5.7% rise in Authentication revenue, which reached GBP48.1 million. It had also seen GBP2.4 million in Identity Solutions revenue in the prior year, with none recognised in the recent period. Its loss before tax widened to GBP16.8 million from GBP15.9 million. It reiterated guidance for GBP100 million in Authentication revenue for the whole financial year, as well as adjusted operating profit in the early GBP20 million range. "De La Rue's robust performance in the first half reflects the important actions that we have taken since 2020 to make the company resilient to changing market conditions. These actions have allowed us to navigate a downturn over the past 18 months, particularly in Currency, and I am pleased that the market is now showing signs of continuing recovery," said CEO Clive Vacher.

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Shares in Japan's Nippon Steel slid on Tuesday after it announced plans to buy US Steel for more than USD14 billion in a deal that will create the world's number two steelmaker. The agreement will see Nippon pay USD55 a share – a 40% premium on US Steel's closing price on Friday – and comes after the US steelmaker launched a strategic review in August following several unsolicited offers for a partial or total takeover. US Steel shares closed up 26% in New York on Monday. The deal will also see Nippon assume the US firm's debt, taking the total value of the agreement to USD14.9 billion. The agreement has sparked a backlash in the US, with United Steelworkers International president David McCall saying it demonstrated "the same greedy, shortsighted attitude that has guided US Steel for far too long".

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
2 Jul 2024 20:04

IN BRIEF: Merck Mercuriadis to leave Hipgnosis Song Management

Hipgnosis Song Management Ltd - London-based music investment company - Says Merck Mercuriadis, founder and chair intends to step down. His departure will be effective upon closing of the proposed acquisition by Lyra Bidco Ltd, owned by Blackstone-managed funds. Mercuriadis says: "Six years after founding HSM, I have decided that now is the right time for me to step back from my role as [chair]. This is a timely opportunity for me to undertake a strategic shift of focus, and to spend more time advocating on behalf of songwriters to ensure that they are properly compensated for their work."

Read more
25 Jun 2024 09:24

Hipgnosis Songs Fund closer to takeover by Blackstone after clearances

(Alliance News) - Hipgnosis Songs Fund Ltd on Tuesday said its takeover by Blackstone Inc has edged closer.

Read more
25 Jun 2024 07:48

LONDON BRIEFING: Mixed bag for Astra drug; Landsec ups Bluewater stake

(Alliance News) - London's FTSE 100 is set to tread water on Tuesday, with a slump for US tech shares overnight keeping a lid on enthusiasm.

Read more
3 Jun 2024 09:20

Blackstone to increase Hipgnosis offer

(Sharecast News) - US private equity firm Blackstone has upped its bid for embattled music rights publisher Hipgnosis as it looks to change its takeover offer to a so-called 'scheme of arrangement'.

Read more
3 Jun 2024 08:56

TOP NEWS: Hipgnosis Songs Fund agrees to raised offer from Blackstone

(Alliance News) - Hipgnosis Songs Fund Ltd has agreed to a slightly improved takeover offer from US private equity firm Blackstone Inc, the two companies announced on Monday.

Read more
16 May 2024 16:17

Concord withdraws buy offer for Hipgnosis after outbid by Blackstone

(Alliance News) - Concord Chorus Ltd on Thursday said it terminated its proposed takeover offer for Hipgnosis Songs Fund Ltd, after it was outbid by Blackstone Inc in its pursuit of the music rights investor.

Read more
9 May 2024 15:21

London close: Stocks manage gains as BoE holds rates

(Sharecast News) - London markets closed on a positive note on Thursday, bolstered by the Bank of England's decision to maintain interest rates, in line with market expectations.

Read more
9 May 2024 11:49

TOP NEWS: Blackstone victorious as Concord says Hipgnosis bid is final

(Alliance News) - Concord Chorus Ltd on Thursday said it will not raise its bid for Hipgnosis Songs Fund Ltd, handing victory to Blackstone Inc in its pursuit of the music rights investor.

Read more
9 May 2024 11:02

Blackstone set to clinch Hipgnosis Songs as Concord sticks with lower bid

May 9 (Reuters) - Blackstone looked set to clinch its $1.57 billion deal for Hipgnosis Songs Fund after Apollo-backed Concord said on Thursday it would stick with its lower bid for the music rights owner of artists such as Shakira and Red Hot Chili Peppers.

Read more
9 May 2024 08:13

Blackstone leads Hipgnosis race as Concord says bid is final

(Sharecast News) - Private equity giant Blackstone appeared to have emerged as the winner in the race to buy troubled music rights owner Hipgnosis Songs Fund after Apollo-backed Concord said its latest $1.25-a-share offer was final.

Read more
29 Apr 2024 15:08

London close: Stocks manage to finish above the waterline

(Sharecast News) - London markets showed resilience on Monday, finishing in the green as investors looked to the start of the US Federal Reserve's policy meeting.

Read more
29 Apr 2024 12:03

LONDON MARKET MIDDAY: Outperforming FTSE 100 spikes to another record

(Alliance News) - London's FTSE 100 was higher heading into Monday afternoon, though trade was more cautious in mainland Europe, as focus turns to this week's Federal Reserve interest rate decision.

Read more
29 Apr 2024 08:54

TOP NEWS: Hipgnosis Songs backs new bid as Blackstone eclipses Concord

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday backed a USD1.57 billion takeover offer from Blackstone Inc, trumping a previous offer from Concord Chorus Ltd, as the pursuit for the music rights publisher took another twist.

Read more
29 Apr 2024 08:54

LONDON MARKET OPEN: Solid start to week for record-setting FTSE 100

(Alliance News) - Stocks in London opened at a record high on Monday, as a key week for equities got off to a solid start.

Read more
29 Apr 2024 08:31

Blackstone beats Concord with $1.6 bln bid for Hipgnosis Songs

Concord had earlier outbid Blackstone

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Read more

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