You might think that the exorbitant cost of living in the capital means Londoners are eager to find a bargain. But when it comes to investing, they pay little attention to budget brands.
Among the stocks least likely to appear in their portfolios are budget retailer B&M, pie shop Greggs and Wetherspoonspubs, says investment platform eToro.
They own a higher 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 appear in Londoners’ portfolios include Greggs
They also have a fondness for US-listed sportswear company Lululemon.
But the biggest criticism of B&M comes from outside the capital. It is less popular in the left-wing, luxury beachside resort of Brighton and Hove than anywhere else in Britain.
The most popular stock in that area? Deliveroo.
Maybe they’re trying to prevent pesky seagulls from diving on their fish and chips.
Shein increases prices prior to listing
Speaking of bargain brands, Shein is known for selling tops for as little as £3.
But according to reports, prices are being hiked ahead of a £50 billion initial public offering on the London Stock Exchange.
And Whispers can confirm that its staff is already developing expensive tastes.
Where did they hold a trial last week when they tried to convince a revolving door of city journalists?
The Chiltern Firehouse hotel, a regular haunt of the rich and famous – where you can get half a cup of coffee or a third of a cold-pressed juice for £3.
Pets at Home is not one of the fat cats
While fat cat bonuses face criticism from investors, at least Pets at Home won’t be on the examination table.
Chief executive Lyssa McGowan was eligible for a small portion of her bonus this year for achieving sustainability targets.
But the company’s compensation committee said that because the retail and veterinary chain failed to meet financial targets (90 percent of bonus criteria), it would use “downward discretion” to give her nothing.
Profits fell due to the costs of setting up a smart new warehouse in Staffordshire, and customers spent 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 rope due to the lack of succession planning for the chairman.
Eduardo Hochschild, 60, has held the position since 2006. The board says he plans to retire within 10 years. City rules recommend that a chairman serve a maximum of nine years.
During Thursday’s annual meeting, a fifth of participating shareholders voted against his re-election.
Hochschild has been with the company since 1987 and is still the largest shareholder with a 38 percent stake.
The group says she is staying with her husband because his continued role remains “in the best interests” of the miner. So there!
Contributor: John Abiona