You might think the exorbitant cost of living in the capital would make Londoners keen to seek a bargain. But when it comes to investing, they hold little regard for budget brands.
The stocks least likely to show up in their portfolios include budget retailer B&M, pie shop Greggs and Wetherspoons pubs, says investing platform eToro.
They own a larger proportion of shares in luxury fashion groups including LVMH, Kering and Farfetch than investors in the rest of the UK.
Off the menu: The stocks least likely to show up in Londoners’ portfolios include budget retailer B&M, Greggs and Wetherspoons pubs
They also have a penchant for US-listed gymwear firm Lululemon.
But the biggest snub to B&M, comes from outside the capital. It is less popular in the left-wing luvvy beachfront haven of Brighton and Hove than anywhere else in the UK.
That area’s most popular share? Deliveroo.
Perhaps they’re trying to avoid pesky gulls swooping on their fish and chips.
Shein hiking prices ahead of listing
Speaking of bargain brands, Shein is known for selling tops for as little as £3.
But it is hiking prices ahead of a £50 billion flotation on the London Stock Exchange, according to reports.
And Whispers can confirm staff are already developing expensive tastes.
Where did they hold court last week as they wooed a revolving door of City journalists?
The Chiltern Firehouse hotel, a regular haunt of the rich and famous – where £3 will get you half a cup of coffee or a third of a cold-pressed juice.
Pets at Home not among the fat cats
While fat cat bonuses face criticism from investors, Pets at Home will at least not be coming on the examination table.
Chief executive Lyssa McGowan qualified for a slim portion of her bonus this year for hitting sustainability targets.
But the company’s pay committee said because the retailer and vet chain failed to reach financial goals – 90 per cent of the bonus criteria – it would use ‘downward discretion’ to give her nothing.
Profits suffered due to the cost of setting up a fancy new warehouse in Staffordshire, and customers spending less on accessories.
The big question is: will she be out of the doghouse by her next bonus review?
Frustration at Hochschild
Investors in Hochschild Mining appear to be at the end of their tether over the lack of succession planning for its chairman.
Eduardo Hochschild, 60, has held the job since 2006. The board says he plans to retire within the next 10 years. City rules recommend a chairman serve for nine years at most.
At the annual meeting on Thursday, a fifth of participating shareholders voted against his re-election.
Hochschild has been with the firm since 1987 and is still its top shareholder with a 38 per cent stake.
The group says it is sticking with its man because his continued role ‘remains in the best interests’ of the miner. So there!
Contributor: John Abiona
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