Spreadex Market Update
Euro stocks hit by Eurozone GDP number
With stocks sat at multi-year highs, market participants seem to be split between believing the market as being overbought verses a potential momentum play. But it would be worth remembering the case for benchmarks being fairly valued, in which case, investors might find themselves paying for volatility that fails to materialise.
Manchester United
Manchester United today helped give naysayers the boot, as pre-tax profit at the club increased to £28.4m in the three months to the end of December. Total revenue increased to £110.1m.
Ed Woodward, the vice chairman, pointed to strong growth from sponsorship as a catalyst for developing commercial operations. The shares are trading at a significant premium to the list price of $14 at $18, striking a positive tone with fans and investors.
The results come following a 1 - 1 conclusion against Real Madrid, drawing attention to two of the world’s richest clubs.
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