Dr Martens the UK bootmaker saw a successful first day of trading on Friday when it's IPO closed at £4.50, the shares were priced at £3.70 and quickly moved up to £4.25 at the opening.  It's the largest IPO on the London Stock Market since September 2020 and is very welcome as it signals a return of confidence in the IPO market.  The shares now trade using the LSE code DOCS

There are a number of IPO's preparing to join the market including Moonpig.

What is positive about the Dr Martins IPO is that a few years ago the company was close to insolvency before it was purchased by a private equity house who turned it around, it has a long standing reputation and almost a cult status amongst some.

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In todays podcast our resident financial expert Adrian Lawrence talks about Reddit and how a subgroup on the popular social media platform have combined together to drive up the share price of a company called Gamestop.

There is an element of revenge investing at play as some members of the group are talking openly about the losses they suffered at the hands of hedge funds during the 2008 Financial crisis and not see this as an opportunity to get their own back.   Hedge funds have been short selliing Gamestop shares, which means borrowing shares they don't have, selling them, then buying them back at a lower price so they can be returned.  Of course not the share price has risen hugely from around a few dollars to over $300 those short sellers face huge losses.

It is a great story but not without a downsize the share prices of the stocks concerned are now very hight compared to the financial fundamentals of the companies concerned, which likely means small investors are going to end up loosing their money.

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In today's podcast the Reporting Accounts team is talking about Rolls Royce and its Aero Engines division which has been in the news again today.

Rolls Royce's income is based on the number of hours its aero engines are in service, so with the lockdown restrictions in the UK and USA, international aviation is very limited and therefore there is a significant impact on their earnings.

The latest Covid Mutation has meant longer lockdowns and a delay to the return of normality to global aviation.  Rolls Royce is indicating that this delay will likely cost it in the region of £2billion in additional lost income.

Not surprisingly the companies share price dipped on this announcement.  In the longer term the price will recover but that depends on pandemic being brought under control and for the moment this now seems further in the future that anticipated last year.

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In today's podcast Adrian talks about the legal case that Dyson has brought against the EU.  They are seeking £200m in compensation for loss of sales.  The case resolves around energy efficiency tests which favoured convential cleaners over the bagless Dyson versions.

The case is being presented as a victory for consumers as the regulations concerned were annuled by the EU court.

Its a positive story and a victory for the innovating Dyson company. 

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In today's podcast our resident financial professional Adrian Lawrence talks about the concept of a living pension, this is a new proposal from the Rowntree foundation and follows the example of the real living wage foundation, but for pensions rather than wages.

In the UK pensions are made up of the state pension which is capped at £155 per week based on 35 years of contributions and a compulsory private pension known as auto enrolment which is currently set at 8% of a band of earnings, being 4% employee 1% Government and 3% employer.

The issue is that for a 25 year old to get a decent pension the contributions need to be at least 12.5% and higher for someone older and that is based on all earnings.  There is therefore a significant shortfall between the current levels of contributions and what is actually required to eliminate pension poverty. 

The concept of the living pension is for employers to lead by example and encourage employees to contribute together with their employers the required 12%.

Reporting Accounts supports this approach and believe the Government is moving in this direction albeit slowly already.   

You can learn more about Reporting Accounts and access our free data covering more than 4.8 million companies via our website https://www.reportingaccounts.com

In today's podcast Adrian Lawrence our in house financial expert talks about Covid news and how the new mutant variant of Covid is not only more infectious but potentially has a higher mortality rate.   There is also news about the South African version of the virus which appears to be more resistant to the current vaccination versions, new versions are already being developed to combat this development.

Adrian talks about how the market has reacted to this news, and that markets being forward looking always attempt to price in the impact of any news that will impact on earnings.  Clearly if retail, travel and leisure businesses are forced to remain closed  for longer, or the summer holiday season is dispruted again, the this will have implications for future earnings and short term the price of stocks and shares.

The London stock market was weighted down by this news, but in the longer term pandemics pass and normality will return, it is just a question of when and to what extent the economy is damaged by this.

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In this podcast our resident Financial professional Adrian Lawrence talks about the forthcoming IPO of Deliveroo.   They are expected to come to market in April 2021 in what will be something of a blockbuster stock exchange listing.

Deliveroo has benefitted from the pandemic related shift of consumer spending away from the traditional highstreet and towards the internet based home delivery businesses.

They recently appointed Lord Simon Wolfson as chief executive and who joins Claudia Arney their chairman who herself joined from Ocado towards the end of last year.

So the team has significantly been beefed up with Directors who have a proven track records, all in all this points towards a successful float.   Roofoods Ltd trades as Deliveroo, presumably they will rebrand as part of the IPO.

In todays podcast our resident financial expert Adrian Lawrence FCA, talks about an interesting news story in today's financial press.  Pimlico plumbers a company floated on the London stock market are requiring all new and existing staff to agree to have a covid vaccine to be able to continue to be employed or for new employees to join them.

This raises a number of interesting legal and HR issues as in the UK you can dismiss someone with less than two years service but after that they have legal grounds to object to an unfair dismissal and could refuse a vaccine if for example the have medical grounds such as being pregnant or have religious objections.

Its an interesting policy and one that many other companies may follow and indeed we might find its only possible to travel to some countries if we can prove we have been vaccinated.

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