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Sunday newspaper round-up: Brexit, BoE, LSE, housebuilders, Rio Tinto, Go-Ahead
A group of businesses is preparing a legal challenge to prevent the government from beginning Brexit negotiations without an act of parliament. The action, brought by law firm Mishcon de Reya, would potentially complicate Britain’s path to leaving the EU, given that a majority of MPs were in favour of remaining and many have continued to speak in favour of maintaining access to the single market. - Financial Times.
Sunday share tips: B&M European Value, Gym Group, Burford Capital, CVS, Joules
Buy shares in B&M European Value Retail said the Sunday Times' Inside the City column. As the referendum decision to leave the EU sends the economy into a recession, discounters like B&M should do well. The business model is to attract customers with value groceries and then offer bargain-basement brands that are bought in vast bulk or with some non-grocery items made for B&M out in Asia. B&M's gross profit margin was above 34% in the last two years.