Market Pulse
Modern Water finalises first sales of wastewater technology in China
Purification and filtration specialist Modern Water secured the first sale of its proprietary all-membrane brine concentration (AMBC) technology on Tuesday to treat wastewater from a Chinese power station.
Bob Foster back in CEO seat at Stratex
Stratex updated the market on its search for a CEO on Wednesday, given the board has been reviewing its composition and the future direction of the company in light of the outcome of the general meeting on 1 November and the termination of the proposed acquisition of Crusader Resources.
Hilton Foods encouraged by trading after Seachill acquisition
Retail meat packer Hilton Foods said on Wednesday that it had made "significant strategic progress" in the last four months with the acquisition of Icelandic fish smokers Seachill and the finalisation of an agreement to build a new facility in New Zealand.
Benchmark reveals development of disease-resistant shrimp
Aquaculture health, nutrition, breeding and genetics company Benchmark Holdings has developed specific pathogen resistant (SPR) shrimp, it announced on Wednesday, to address issues facing the Asian market - the largest and fastest growing market for shrimp.
JZ Capital confident despite declining NAV
UK-based investment company JZ Capital Partners saw its net asset value (NAV) slip in the first half of the year as operating and debt service expenses in its US real estate portfolio offset a positive performance in its micro-cap portfolio.
FCA examines wholesale insurance brokers
The Financial Conduct Authority has announced an investigation into competition between wholesale insurance brokers.
Capco may give up control of housing estates in Earls Court development
Capital & Counties confirmed on Wednesday that it is in talks with the London borough of Hammersmith & Fulham about significant changes to the development of the property developer's 77-acre Earls Court development.
Frutarom acquires iron delivery technology from AB-Biotics
Flavouring and fine ingredient producer Frutarom Industries announced on Tuesday that, via a subsidiary, it had signed an agreement with Spanish company AB-Biotics for the purchase of its iron delivery technology AB-Fortis.
Sophos raises outlook after strong first half trading
Sophos raised its outlook for annual sales after the security software company's trading picked up during the first half of the year.
Aukett Swanke office project wins two 'prestigious' award
Aukett Swanke announced on Wednesday that Verde SW1, the building completed for Tishman Speyer in London's Victoria earlier this year, has won awards for ‘best office development’ and ‘best office architecture’ at the UK Property Awards at the Royal Lancaster London Hotel.
C&C elevates SABMiller veteran Solesbury to permanent CFO role
Manufacturer, marketer and distributor of branded cider, beer, wine and soft drinks, C&C Group, announced the appointment of Jonathan Solesbury as group chief financial officer and as a member of the board of directors on Wednesday, effective immediately.
Marks & Spencer sales improve as Norman accelerates restructuring
Marks & Spencer reported stronger first-half profits than expected and outlined some material shifts in the pace and direction of its five-year restructuring plan, although this will be without chief finance officer Helen Weir who has stepped down.
OneSavings Bank posts loan book growth, ups forecast
OneSavings Bank reported 17% growth in its loan book for the first nine months of the year, driven primarily by its buy-to-let activities, as it bumped up its loan book growth forecast.
Mondi boosted by Morgan Stanley upgrade to 'overweight'
Paper and packaging group Mondi got a boost on Wednesday as Morgan Stanley upgraded the stock to ‘overweight’ from ‘equalweight’ and lifted the price target to 2,200p from 2,000p.
Tullow Oil ups production, cash targets after refinancing talks begin
Tullow Oil increased its production and cash targets and cut spending guidance for the full year after an eventful third quarter that has allowed it to proceed on development plans in Ghana and begin re-financing its sizable debt pile.
SSE earnings fall, plans merger of retail arm with npower
Energy generator and retailer SSE performed in line with its recently-published expectations in its first half, it reported on Wednesday, with adjusted earnings per share falling 8. 8% to 31. 2p and adjusted operating profit falling 8% to £586. 2m.
London open: Stocks edge higher as pound slips; M&S, SSE in the black
London stocks edged higher in early trade on Wednesday, helped along by a weaker pound and some well-received releases from the likes of Marks & Spencer and SSE.
Esure lifts guidance after record third quarter
Esure has lifted its guidance for the full year following a record third quarter thanks to a strong performance in the motor division.
Persimmon reports strong demand in third quarter
Persimmon said demand for its properties remained strong in the third quarter as the housebuilder benefited from the government's Help to Buy programme.
Wizz Air lifts FY profit guidance after record first half
Low-cost Hungarian airline Wizz Air said on Wednesday that it was lifting its profit outlook following record first-half results, with “robust” trading across all of the group’s markets.