Vermeer Partners

We pay tribute to Sir David McMurtry - founder of Renishaw - in End of an ‘Eras’ with a nod to Taylor Swift’s tour. The UK continues to trend around zero and US #inflation data was in line with consensus. SpaceX, the rocket and satellite maker founded by Elon Musk, was valued at $350bn making it the world’s largest private company, after employees sold some shares. It is proving to be a rather good time for Mr Musk as his various stakes in Tesla, SpaceX and X (previously known as Twitter) has made him the first person to be worth $400bn.  Elsewhere there was further good news from Alphabet Inc. and lastly it was interesting to note the Christmas shopping in the market matching the Vermeer Partners office with M&A deals in chocolate, wrapping paper and boosts for those with colds. Read more from Charlie Todd and William Buckhurst in That Was The Week That Was here: https://lnkd.in/eaVYtEs9 #vermeerpartners #theartofinvestment #investmentmanagement #taylorswift #wealthmanagement #privateclients #HNWI #TWTWTW #investmentnews

Lots of news last week - Syrian rebels look to have overthrown President Assad, bringing more uncertainty to the Middle East, French PM Barnier resigned over his social security bill, and President Yoon failed to install martial law in South Korea. In Company News: Aviva and Direct Line Group look to be merging, Accenture announced the acquisition of German software company AOX, Watches of Switzerland Group PLC of Switzerland finished 14% higher on mixed results as the company left full-year guidance unchanged. Management commented that they were “well positioned for a good holiday trading period” after an encouraging start in November. Read more from Charlie Todd and William Buckhurst in That Was The Week That Was here: https://lnkd.in/eGRhaZ_q #vermeerpartners #theartofinvestment #investmentmanagement #wealthmanagement #privateclients #HNWI #TWTWTW #investmentnews 

Simon King CIO, quoted in the Financial Times on ‘Special situations’ funds being hit by a retreat from active investing... https://lnkd.in/euTasETZ

Vermeer Partners and Vermeer Financial Planning were delighted to host a roundtable discussion “Preparing your business for sale and protecting and maximising your wealth post-sale” in conjunction with Ryecroft Glenton. Guests included entrepreneurs and founders of leading businesses. It was a brilliant discussion, with lots of experiences, learnings and insights shared and connections made. Thank you to Carl Swansbury FCA for his opening address on company valuations. Our team Rob Hodgson FPFS and Charlie Todd were thrilled to host the event and are grateful to our esteemed guests for the engaging conversation.   #vermeerpartners #entrepreneurs #businessexits #wealthplanning #roundtable #investment  

Smithfield meat market is to close, potentially as soon as 2028. The deal with the traders who run Smithfield and Billingsgate fish market will see millions of compensation in exchange for not fighting the closure. The City of London Corporation has also scrapped its £800m plan to move the markets to Dagenham, closer to the logistics and shipping routes, as building the modern facilities would be too expensive. Elsewhere in company news: Direct Line Group Line said it had rejected a £3.3bn bid from larger rival Aviva. TI Fluid Systems, a car parts manufacturer, recommended a £1bn offer from Canada’s ABC Technologies. Rémy Cointreau results were poor, but the shares rose 3% potentially pointing to a bottoming in the liquor stocks. Management stated they now see full year revenue declining 15-18% vs the 11.8% forecast decline. Consumers look to be spending less on their pets and not doing as much DIY as both Pets at Home and Kingfisher shares fell by over 10% after issuing profit warnings. Read more from Charlie Todd and William Buckhurst in TWTWTW here: https://lnkd.in/eqtPaiVk #vermeerpartners #theartofinvestment #wealthmanagement #privateclients #investmentmanagement #laterlifeplanning #TWTWTW

Bad news for the Chancellor as UK inflation data came in higher than expected. In Company news Tesla has been on a tear since the US election with shares moving higher again after reports suggested Trump would cut restrictions on self-driving cars. More Trump trades as Starbucks were reported to be looking at selling a stake in its Chinese business, potentially introducing local partners. In the UK, Melrose Industries PLC was up strongly as it confirmed its full year guidance even with the issues in the aerospace sector, and Halma plc finished higher as revenue rose 13% to £1.07bn on expectations of organic growth, supported by good order intake. Read more from Charlie Todd and William Buckhurst in That Was The Week That Was here: https://lnkd.in/eFynEDvG #vermeerpartnersLLP #theartofinvestment #wealthmanagement #privateclients #investmentmanagement #IFA #TWTWTW #laterlifeplanning

UK GDP data continued to be underwhelming, the German coalition collapsed and US stocks erased more than half of their post-election gains as ‘Trump trades’ lost steam amid an assumption the Fed will slow the pace of rate cuts. In Company News: Burberry may be merging with Moncler as it tries to put shareholders out of their misery; The Walt Disney Company beat consensus and more pleasingly Disney+ looks to be turning profitable; and Shopify closed up 20.8% in one day as revenue increased 26% year-on-year. Read more from William Buckhurst and Charlie Todd on the US pharma sector post RFK Jnr here: https://lnkd.in/e-2cGqME

Donald Trump became the oldest person elected to America's highest office, China deployed US$1.4trn to reinvigorate the country's prospects, and the Bank of England cut rates by 0.25%. In company news it was a good week for Marks and Spencer although management commented that last week's budget will cost them an extra £120mn - news echoed by both JD Wetherspoon (additional costs of £60mn) and Sainsbury's (additional costs of £140mn). Palantir Technologies had excellent results, moving 23.5% higher with revenue growing 30% above consensus estimates. The company stated that growth in the business was accelerating as they meet “unwavering” demand for the US driven AI revolution. See what else was of interest to William Buckhurst and Charlie Todd in That Was The Week That Was here: https://lnkd.in/eGrhkQ4v #vermeerpartners #theartofinvestment #investmentmanagement #wealthmanagement #privateclients #HNWI #TWTWTW #investmentnews

Citywealth Leaders List interview: 60 seconds with Chris Hogarth APFS Chartered FCSI EFP CFP CMgr, Vermeer Financial Planning This week’s 60-second piece is dedicated to Chris Hogarth APFS Chartered FCSI EFP CFP CMgr, Managing Director at Vermeer Financial Planning. Read more: https://lnkd.in/eWRZ4Jpp Subscribe to the Citywealth Weekly Newsletter to learn more about Private Wealth Management: https://lnkd.in/dS2Sw9ey

There was a budget... UK government bond yields rose to around 4.5%, their highest in over a year, as a series of government bodies and other think-tanks suggested the Chancellor’s “tax and spend” budget will not raise as much tax as she expects. The OBR have suggested the net effect of the employer’s NI increase is much less than it appears because it results in lower pay and hence lower income tax and employee NI. If you knock-off another c.£6bn for compensating public sector employers then Ms. Reeves’ anticipated £25bn annual tax take could fall to around £10bn. In company news: Apple reported quarterly revenue up 6%, but gave cautious guidance for the crucial Christmas quarter, AMD shares fell on disappointing AI chip sales, Bristol Myers Squibb beat expectations, driven by strong sales of established drugs like blood thinner Eliquis and cancer treatment Revlimid, and KEYENCE CORPORATION, the automation specialists, announced a 16% increase in its dividend as it reported a continuation of its strong performance and earnings above expectations. Read more of William Buckhurst and Charlie Todd's take on last weeks' news in TWTWTW here: https://lnkd.in/eUDFgPec #vermeerpartners #theartofinvestment #investmentmanagement #wealthmanagement #privateclients #HNWI #TWTWTW #investmentnews