Market Pulse
Europe midday: Stocks in the red as autos, miners weigh; euro rallies
European stocks were still in the red by midday on Tuesday, kicking off the new year on a downbeat note as weakness in the auto and mining sectors weighed, while the euro was boosted by strong manufacturing data.
Europe open: Stocks start the year in the red as miners, autos weigh
European stocks kicked off the new year on a downbeat note on Tuesday, weighed by weakness in the auto sector following a rating downgrade of BMW and as miners retreated.
Christopher Brown to step down as TomCo CEO
TomCo Energy is looking for a new boss after chief executive Christopher Brown said he would step down to concentrate on his other business interests.
UK manufacturing growth slows more than expected in December
Growth in the UK manufacturing sector slowed more than expected in December, according to data released on Tuesday.
Eurozone manufacturing PMI hits record high in December
Activity in the eurozone manufacturing sector improved in December, as expected, ending 2017 with record-high growth, according to data released on Tuesday.
Randall & Quilter buys Constantia for £1.5m in cash
AIM-listed Randall & Quilter has acquired Constantia Insurance Company, a captive company now in run-off, from Old Mutual, for £1. 5m in cash, which will be financed from existing resources.
London open: Stocks flat as investors pause for breath after record highs
London stocks were little changed in early trade on Tuesday, kicking the year off with a whimper rather than a bang after ending 2017 on a high.
Rightmove begins share buyback ahead of results
Rightmove has kicked off the process to buy back up to £23m of its shares in the coming eight weeks.
BBA Aviation promotes Mark Johnstone to CEO
BBA Aviation has ended a seven-month search for a new chief executive by appointing internal candidate Mark Johnstone to run the company.
Marks & Spencer confirms sale of Hong Kong and Macau businesses
Marks & Spencer has confirmed the sale and franchise of its retail business in Hong Kong and Macau to its long-established franchise partner Al-Futtaim.
Compass confirms succession plans after death of CEO Richard Cousins
Compass Group has confirmed the death of its chief executive, Richard Cousins, and his family in a plane accident over the weekend, and said it has moved forward the date of his succession.
RDI eyes lower leverage investments after completing German disposal
RDI REIT completed the sale of its German retail property portfolio for €205m, which it will use to further reduce leverage and recycle proceeds into income-enhancing investments it has identified.
BGEO buys 50% stake in Tbilisi boutique hotel for $4.1m
BGEO Group’s real estate subsidiary, m2 Real Estate, has acquired a 50% stake from a third-party in an upcoming lifestyle boutique hotel in Tbilisi, the capital of Georgia, for $4. 1m.
BP expects $1.5bn tax charge from US changes before later gains
BP expects changes to US tax rates to trigger a charge of about $1. 5bn (£1. 1bn) before benefiting the company in the long run.
IAG creates Austrian budget arm with Niki purchases
British Airways and Iberia owner IAG has swooped to buy assets and invest in Niki, a former part of the collapsed Air Berlin group.
Sythomer sells Leuna site in Germany for undisclosed price
Speciality chemicals company Synthomer has sold its Leuna site in Germany to Alberdingk Boley Gmbh for an undisclosed price.
London pre-open: Stocks to kick off 2018 in record territory
London stocks were set to kick the year off in record territory on Tuesday, with miners likely to take the lead following some upbeat data out of China.
Tuesday newspaper round-up: Business optimism, rail fares, Co-op, Dignity
Global business optimism is at a record high, according to a survey by accountancy firm Grant Thornton, but sentiment among UK companies has fallen in the last year as uncertainty over Brexit continues to weigh heavily on corporate confidence. Its quarterly International Business Report found that optimism among firms around the world is at the highest level since it was started 25 years ago, which is reflected in the widespread expectation that profitability will increase in the next 12 months.