Market Report
Renold reports mixed results for first half of trading year
UK-based power transmission products manufacturer Renold posted a mixed set of results on Tuesday, increasing group revenue in the first half of trading while watching its operating profits slide.
FTSE 100 movers: Tesco rallies on Booker go-ahead, but ITV drops on update
London’s FTSE 100 was up 0. 1% to 7,424. 64 in afternoon trade on Tuesday as investors digested the latest inflation data.
Strong LED revenues at Carclo offset softer performances elsewhere
UK-based manufacturer Carclo posted a strong performance from its LED technologies wing in the first half, offsetting a decrease in profits from it technical plastics operations.
Europe midday: Selling in stocks accelerates as euro gains altitude
Selling is picking up moderately in European stocks as the single currency continues to regain some altitude on the back of a surprisingly strong reading on Germany's third quarter gross domestic product, alongside another burst of weaker-than-forecast Chinese economic data.
Binary options to be regulated by FCA from January
The City watchdog will begin policing firms offering binary options from January and issued a warning to consumers about the risk of investing in such high-risk, speculative products.
Sareum Holdings raises £700k in placing to progress drug development
AIM-listed Sareum Holdings has raised £700,000 before expenses through a placement of 1 million shares, which will be used to progress the company’s drug development programmes and for working capital purposes.
German economic sentiment improves less than expected in November - ZEW
German economic sentiment improved a little less than expected in November, according to the latest survey from the ZEW Center for European Economic Research in Mannheim.
Ilika to deploy solid-state battery technology for condition monitoring of turbine blades
British group Ilika announced on Tuesday it had finalised a partnership with a Chinese wind turbine manufacturer that would see its Stereax solid-state battery powered devices used to monitor the condition of the turbines.
Asia report: Most markets lower as China data disappoints
Almost all markets in Asia finished lower on Tuesday, as investors sifted through a barrage of disappointing economic data out of China.
US pre-open: Stocks seen broadly flat; central bankers in focus
US futures pointed to a muted open on Wall Street on Tuesday as investors continued to watch out for earnings releases and any news on corporate tax reforms.
London midday: Stocks cling on to positive territory as inflation holds steady
London stocks were clinging on to positive territory by midday on Tuesday as the pound weakened after data showed inflation unexpectedly held steady in October.
Intermediate Capital AuM rise 14% in first half
Asset manager Intermediate Capital reported a 14% jump in assets for the first half on Tuesday as it raised €5. 7bn of new money.
Picton nearly doubles first half profits
Guernsey-based investment firm Picton Property Income almost doubled its profit after tax in the first half of its trading year, increasing its net asset value 5% in the process.
Redefine International morphing into RDI REIT
Redefine International announced on Tuesday that, as of 1 December, it will change its name and rebranding to RDI REIT.
Chinese economy continues to cool-off in October
China's economy slowed further in October with economists eyeing scope for further cooling ahead.
Polypipe 'on track' to achieve management expectations for full-year
Plastic piping manufacturer Polypipe reported strong organic growth across UK residential and mainland European markets in the ten months to 31 October, putting the firm on track towards management expectations for its full year.
B&M sees continued revenue improvement as estate expands
B&M European Value Retail reported a 21. 7% improvement in group revenues to £1. 35bn in its half-year results on Tuesday - a 21% rise at constant currencies.
FirstGroup boosted by new South Western Railway franchise
Passenger transport operator FirstGroup updated the market on its overall trading in the first half on Tuesday, saying it was “consistent” with plans it outlined at start of the financial year with “strong” cash performance in addition to inflows from the recent start of its South Western Railway joint venture.
UBM leaves expectations unchanged despite fashion and pharma 'softness'
Events and business information provider UBM updated the market for the current financial year to date on Tuesday, reporting that trading since the half year has been “strong” with the group on track to deliver “significantly accelerated” adjusted underlying revenue growth in annual events for the full year, of at least the Global B2B Exhibitions Industry average.
UK inflation holds steady at five-year high
UK consumer price inflation has unexpectedly held steady at its five-year high, confounding predictions from the Bank of England.