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Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on FORMATION GROUP PLC. We currently have 6 research reports from 1 professional analysts.

Date Source Announcement
01Dec16 07:00 RNS Transfer of listing from AIM to ISDX
09Nov16 07:00 RNS Update
16Sep16 04:26 RNS Further extension to development loan facility
20Jun16 07:00 RNS Debt Repayment and Development Loan Extension
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SUMMARY FORECASTS

  • 06 Jan 16

Politics will exert considerable influence on markets in 2016 with November’s US presidential election, the UK in/out referendum expected over the summer and the escalating tensions in the Middle East. In each situation, the outcome is not assured and this is likely to drive volatility. There is also scope for other surprises. As widely expected, the US Federal Reserve increased rates in December but the Fed’s rate forecasts (a full percentage point increase p.a. to 3.25% at the end of 2018) are more hawkish than market expectations (about 50bps higher for 2016 and 100bps for 2018). Were the Fed to raise rates per its forecasts, either the US and world economies are more buoyant than many believe or the Fed could imperil the recovery through tightening too quickly. The outlook for the US economy is reasonable with the lower oil price and increased employment benefiting consumer spending. The Eurozone countries will also enjoy the lower oil price as importers and growth is anticipated across many member states. The outlook for China and the countries that rely on exporting commodities to China is more mixed, however. Growth in China seems assured but many believe it will fall short of the official target of 6.5%. The first data points of 2016, the official PMI and Caixin China Manufacturing PMI, both came in below consensus and pointed to a further contraction in manufacturing. The news resulted in sharp falls in Chinese indices, triggering the market ‘circuit breakers’ that were created last September, and weakness in other global markets. India looks set to be the best performing large economy in 2016 up 7.8%, a slight improvement on 2015, another oil price beneficiary. The recessions in the other two BRICs countries (Russia and Brazil) look set to continue. Shifting from macro to micro, 2016 should prove the defining year for many AIM-listed resources companies and we expect the shake out that occurred in 2015 will continue as many micro-caps are unable to secure additional funding. Beyond resources, the outlook is more benign with a stable economic backdrop, further M&A activity and fund inflows looking for better returns.

Northland Capital Morning Report

  • 02 Dec 15

Divergence looks set to dominate the final month of 2015 and set the tone for 2016. The European Central Bank is widely expected to extend its QE economic stimulus programme and could reduce its overnight deposit rate further in an attempt to boost inflation, and more stimulus could come from Japan and China. Meanwhile the Federal Reserve is now expected to lift rates from historic lows. Higher US rates will impact not only the cost of capital in the US but also emerging markets where growth remains much weaker and leverage high. The move by the ECB is unlikely to have a major impact, however, as it is an extension rather than a new tool and the headlines continue to be dominated by politics rather than financial markets (Isis, the refugee/migrant crisis, tensions between Russia and Turkey etc). The respective moves are likely to further weaken the euro in 2016. The UK sits somewhere in the middle. November’s Autumn Statement saw the Chancellor drop his tax credit reduction plans and benefit from a surprise £27bn improvement in the Office for Budget Responsibility’s five year public finances forecast, based on higher tax revenue and lower debt interest. The general shift away from austerity, the protection of tax credits and increased minimum wage should ensure further economic growth.