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These FTSE 100 Shares Are About To Update The Market. Should You Buy Them Today?

These FTSE 100 Shares Are About To Update The Market. Should You Buy Them Today?

These UK shares are set to release fresh financial details over the next couple of weeks. Is now the time to buy in? Or should you give them a very wide berth?

Barclays

Imminent third-quarter financials from FTSE 100 banking colossus Barclays are bound to attract plenty of attention. This is a reflection of the blue chip’s standing in its own right as well as its role as a barometer of the health of the British economy. And I have to tell you that I’m not too optimistic over what they’ll show.

UK banks have already been forced to suck up gigantic impairments resulting from the Covid-19 crisis. Barclays itself announced it had booked £3.7bn worth of credit impairments in its half-year trading update in July. Profits at the bank sunk to £1.3bn between January and June from £3bn a year earlier, too. I fear another shocking set of numbers when that quarter three statement comes out on Friday, October 23.

I don’t think there’s much incentive to buy Barclays shares today. Its forward price-to-earnings (P/E) ratio of 20 times fails to reflect the possibility of its current travails stretching well into 2021 and possibly beyond, too. As well as Covid-19, of course, the Footsie bank also faces a significant threat from a disorderly Brexit at the end of December.

On top of this, Barclays and its peers also face the prospect that the Bank of England will hold interest rates at rock-bottom levels for years to come to support the UK economy. The central bank might even introduce negative rates soon if very-public chatter from key policymakers is to be believed. In my opinion Barclays simply offers too much risk. I fully expect its long-term share price downtrend to continue.

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Fiscal Stimulus Closer to a Certainty? Midday Market Update

Fiscal Stimulus Closer to a Certainty? Midday Market Update





Duration: 01:31

Markets moved higher Friday after sources said President Trump is raising his stimulus offer.

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IPO Update: InMed Pharmaceuticals Readies IPO Uplisting (Pending:INM)

IPO Update: InMed Pharmaceuticals Readies IPO Uplisting (Pending:INM)

Quick Take

InMed Pharmaceuticals (INM) intends to raise $10 million from the sale of common stock and warrants in an uplisting / Nasdaq IPO, according to an amended registration statement.

The company is developing cannabis-derived treatments for skin and eye conditions.

INM is still at a preclinical stage of development and is thinly capitalized; the IPO may be more suited to long-term hold institutional investors, so I’ll watch the IPO from the sidelines.

Company & Technology

Vancouver, Canada-based InMed was founded to advance drug programs for epidermolysis bullosa [EB], a skin condition that results in layers of skin not sticking to each other and for glaucoma, an eye condition that damages the optic nerve.

Management is headed by president and Chief Executive Officer Eric Adams, who has been with the firm since 2016 and was previously CEO at EnGene and held senior roles at QLT.

Below is a brief overview video of InMed’s recent announcement for treating EB:

Source: Business Television

The firm’s lead candidate is INM-755, a cannabinoid-based treatment candidate for epidermolysis bullosa.

The drug is current in Phase 1 safety trials and management expects it to advance to Phase 1/2 efficacy trials in 2021.

The company’s second candidate is INM-088, a cannabinoid treatment for glaucoma and management expects it to enter Phase 1 safety trials in 2021.

Below is the current status of the company’s drug development pipeline:

Source: Company S-1 Filing

Investors in the firm have invested at least $70 million.

Market & Competition

According to a 2019 market research report by Technavio, the global market for epidermolysis bullosa is expected to grow by nearly $305 million from 2019 to 2023.

This represents a forecast CAGR (Compound Annual Growth Rate) of almost 5% from 2019 to 2023, as shown in the chart below:

Key elements driving this

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These Cheap Stocks Are About To Update The Market. Can You Afford Not To Buy Them Today?

These Cheap Stocks Are About To Update The Market. Can You Afford Not To Buy Them Today?

These two UK shares are due to update investors in the coming days. Should you buy them today or steer well clear?

Motorpoint Group

You might be tempted to buy shares in Motorpoint Group given the recent strength in the used car motor market. Latest data from online car shopping website Auto Trader showed the average price of a pre-owned vehicle leap 7.6% in September, the highest year-on-year jump on record.

Demand for used vehicles has leapt for a couple of reasons. A fear of using public transport has prompted Britons to go car shopping during the peak of the pandemic. Difficult economic conditions have caused shoppers to switch down from buying more expensive new vehicles to cheaper, previously-owned units too. And it’s a phenomenon which has already boosted sales at Motorpoint.

In late August the retailer commented that “over the last 11 weeks, the period which the Group’s retail sites have been fully reopened, the board has seen its key operational and trading metrics comfortably ahead of the equivalent period last year.” I’m expecting another sunny statement when half-year numbers come out on Thursday, August 8. But I won’t be buying Motorpoint shares any time soon.

Why? Well recent data shows that sales of new cars are starting to slump at an alarming rate. It might take longer but I fear that the severe economic downturn facing the UK — not only due to Covid-19, but because of ongoing Brexit uncertainty and/or economically-disastrous ‘no-deal’ withdrawal from the European Union — could start to hammer sales of other big-ticket products like used cars as well.

According to the University of Buckingham, sales of used vehicles in the UK slumped to 17-year lows during the 2008/2009 global financial crisis. I fear that a period of significant sales

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