Finimize - 🇬🇧 Britain’s buyback bonanza

Tesla reported record deliveries in China | UK firms look set to by back more shares than ever |

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Today's big stories

  1. Tesla delivered a record number of cars in China last month
  2. Here’s how you can invest like a $10-trillion asset manager – Read Now
  3. British firms are treating investors by repurchasing heaps of shares

Tesla Motors Ahead In China

Tesla Motors Ahead In China

What’s Going On Here?

Data out over the weekend showed that Tesla delivered a record number of cars in China last month.

What Does This Mean?

Musk might've been licking his wounds after last quarter’s disappointing global deliveries report, but delivering a record 83,000 EVs in the world’s biggest auto market last month might turn his frown upside down. That’s not to say the bumper showing has come as a complete bolt from the blue: there were a couple of key catalysts at play. For one, Tesla’s factory in Shanghai was recently upgraded, boosting the number of cars it can produce each week by 30%. And for another, the company started wooing Chinese customers with insurance incentives in September, which have appealed to drivers who were already sick of rising fuel costs.

Why Should I Care?

The bigger picture: You win some, you lose some.
Tesla might be making strides in China, but its competitors are doing their damnedest to edge into the firm’s other strongholds. BYD – the world’s third most valuable car company after Toyota and Tesla – recently unveiled plans to launch in Europe, an early step in its ambitious global expansion. And Chinese firm Nio wants a slice of that sweet European pie too, announcing last week that – after a year of sales in Norway – it now plans to sell cars throughout the continent.

Zooming out: China’s not so hot right now.
It’s no surprise that Tesla’s Chinese rivals are looking to expand overseas with the economy in tatters. Data out over the weekend showed that China’s services industry shrank for the first time in four months in September, as the country’s zero-Covid strategy took a toll on consumer spending. And with the current government due to be handed a fresh five-year leadership term this week, it doesn’t look like that policy’s going to change any time soon.

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Analyst Take

Where BlackRock Sees Light Through All The Dark Clouds

Where BlackRock Sees Light Through All The Dark Clouds

By Jonathan Hobbs, Analyst

I’m going to save you some time this week.

BlackRock, the world’s biggest investment house with nearly $10 trillion in assets under management, just completed its global outlook report for the fourth quarter.

Those pages lay out where the firm sees the economy and markets headed next, and where it’s putting its clients’ money now.

I’ve carefully read over the slide deck (twice) so you don’t have to, and I’ve made a note of everything you need to know about it

That’s today’s Insight: here’s how BlackRock is investing now.

Read or listen to the Insight here

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The UK Shows Some Self-Love

The UK Shows Some Self-Love

What’s Going On Here?

Projections out on Monday show British firms are set to spend a record amount on share buybacks this year.

What Does This Mean?

Everyday Brits might be cutting back their spending, but the country’s biggest businesses sure aren’t. In fact, finance chiefs of companies in the FTSE 100 – an index tracking the UK’s biggest firms – are set to spend a record £51 billion ($57 billion) on share buybacks this year (tweet this), which would reduce the supply of shares and, in turn, mean remaining shareholders would each claim a bigger chunk of any profit. After all, they have plenty of cash to play with: the UK’s biggest companies are multinational firms that make a heap of money overseas, and today’s weaker-than-usual pound means foreign profit is worth more when converted back to home currency. Add lower share prices into the mix, and that might be why high-flying execs believe it’s high time to pay some of that bounty back to shareholders.

Why Should I Care?

Zooming in: Let’s get cynical.
Businesses use their spare cash to reinvest internally, buy other firms, or pay shareholders back. Many executives claim that buybacks – one way to return shareholders’ cash – are a vote of confidence, indicating that shares are going for a bargain. But cynics might argue that buybacks are a last resort, and could be a negative long-term signal that a firm’s management has failed to find any growth-fuelling opportunities.

The bigger picture: How the other half live.
British companies gorging on buybacks is a sure sign that they have bucketloads of cash on hand. But you haven’t slipped into an alternate dimension, the country’s economy is still in a tight spot. See, what’s good for business isn’t always good for the country as a whole: while a weaker pound might make companies’ overseas profit look heftier, it diminishes consumers’ spending power on imported goods. Plus, pumped-up commodity prices mean the biggest energy companies rake it in while everyday folk struggle to fill their tanks.

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💬 Quote of the day

“There is no shortage of good days. It is good lives that are hard to come by.”

– Annie Dillard (an American writer)
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🎯 On Our Radar

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🥳 Coming Up This Week

All events in UK time.

🏡 The Pathway To Property Investing In 2022: 12pm, October 11th
📈 How To Invest Like Warren Buffett: 6pm, October 12th
🧑‍💻 Why A Digital Asset Should Be Your Next Investment: 1pm, October 14th
💸 How To Understand The True Value Of Crypto: 6pm, October 17th

👀 And After That…

🌍 How to Avoid Greenwashing When Investing: 12:30pm, October 18th
💻 How To Invest In Tech Stocks During A Recession: 5pm, October 18th
💪 Three Metrics You Should Know Before Investing: 1pm, October 19th
🎧 How To Invest In Music NFTs: 6pm, October 24th
🔥 How To Secure Your Financial Future Before 40: 5pm, October 26th
🏆 How To Spot Investment Opportunities In Gold: 12pm, October 27th
🤑 Asset Allocation For Young Investors: 5pm, November 2nd
🙋‍♀️ Ladies Investing Club Meetup: 6.30pm, November 2nd (in person)
🚀 Modern Investor Summit: 12pm, December 6th-7th

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