Investment

Recent Investment Might Not Be Enough For Aston Martin – Motor1.com

Published

5 years ago

April 5, 2020

Aston Martin’s recent rescue by a consortium led by Canadian billionaire Lawrence Stroll was a welcome shot in the arm for the embattled company, but it’s not out of the woods yet.

That is because despite its coffers being boosted by £536 million ($658M), according to European Securities and Markets Authority rules – per Automotive News Europe – it still might not have enough working capital due to “increased and unquantifiable uncertainty” brought about by the coronavirus pandemic.

Aston Martin said that the problems caused as a result of the ongoing crisis have made it impossible to determine a “reasonable worse case downside,” and its shares have also tumbled by 9.3 percent as well. Aston Martin’s stock price has also has fallen 60 percent this year alone, and is now 89 percent below the price it was when the company first went public in 2018.

The recent cash infusion should have been enough to help Aston Martin with its cashflow problems, but the coronavirus crises put an end to that hope.

“Taking into account the proceeds of the capital raise, the company is of the opinion that the group does not have sufficient working capital to meet its requirements for 12 months,” Aston Martin previously said ahead of Stroll’s bailout.

As part of his investment, Stroll will take over as executive chairman of the company said that the investment “gives the necessary stability to reset the business for its long-term future. We have a clear plan to make this happen.”

The investment will also aid the production of the new DBX SUV, a product that Aston Martin is counting on to help it turnaround its fortunes. Deliveries are set to commence this summer, but they could be hindered.

Let’s block ads! (Why?)

Source link

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

1 day ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

Source link

Economy

S&P/TSX composite up more than 100 points, U.S. stocks also trade higher

Published

2 days ago

October 9, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in the technology and base meta sectors, while U.S. stock markets also climbed higher.

The S&P/TSX composite index was up 106.70 points at 24,179.21.

In New York, the Dow Jones industrial average was up 280.87 points at 42,361.24. The S&P 500 index was up 26.51 points at 5,777.64, while the Nasdaq composite was up 69.52 points at 18,252.44.

The Canadian dollar traded for 73.08 cents US compared with 73.22 cents US on Tuesday.

The November crude oil contract was down 67 cents at US$72.90 per barrel and the November natural gas contract was down eight cents at US$2.66 per mmBTU.

The December gold contract was down US$2.30 at US$2,633.10 an ounce and the December copper contract was down five cents at US$4.41 a pound.

This report by The Canadian Press was first published Oct. 9, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

Source link

Economy

S&P/TSX composite down nearly 100 points, U.S. stock markets move higher

Published

3 days ago

October 8, 2024

Anne Joseph

TORONTO – Canada’s main stock index lost nearly 100 points in late-morning trading, weighed down by losses in the energy and base metal sectors, while U.S. stock markets climbed higher.

The S&P/TSX composite index was down 96.78 points at 24,005.93.

In New York, the Dow Jones industrial average was up 42.35 points at 41,996.59. The S&P 500 index was up 43.17 points at 5,739.11, while the Nasdaq composite was up 215.69 points at 18,139.59.

The Canadian dollar traded for 73.15 cents US compared with 73.48 cents US on Monday.

The November crude oil contract was down US$3.42 at US$73.72 per barrel and the November natural gas contract was down two cents at US$2.73 per mmBTU.

The December gold contract was down US$32.20 at US$2,633.80 an ounce and the December copper contract was down 11 cents at US$4.46 a pound.

This report by The Canadian Press was first published Oct. 8, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

Source link