Market Report
Europe open: Weak China data, stronger euro exert drag on shares
European stocks are trading sightly lower with weaker-than-forecast Chinese economic data again a key factor together with strength in the euro following a bumper report on German growth in the third quarter.
Electrocomponents growth accelerates after bumper first half
Electrocomponents reported a 16. 6% reported improvement in revenue in its first half on Tuesday, to £823. 8m, or 13. 3% on an underlying basis, as its gross margin rose 0. 6 percentage points to 43. 4%.
Higher material costs offset bumper steel market for Vesuvius
Molten metal flow engineering company Vesuvius updated the market on its trading for the period from 1 July to 30 September on Tuesday, reporting that since its half year results in July, global steel production growth has exceeded its expectations and overall sales growth has continued to outperform the global steel market.
Schneider posts good growth ahead of combination with AVEVA
Schneider Electric Software saw a 4% improvement in its first half revenue to $288. 5m in the six months to 30 September, it reported on Tuesday, ahead of its planned combination with FTSE 250 company AVEVA.
AVEVA posts solid first half as market conditions stabilise
AVEVA Group claimed a “good” first half performance in its interim results on Tuesday, which it said reflected “strong” sales execution and more stable market conditions in the six months to 30 September.
Vectura initiates £15m share buyback
Vectura Group announced on Tuesday that its board has approved a share buyback to return up to £15m of capital to shareholders.
BTG continues to deliver growth in first half
BTG reported a 20% rise in revenue in its interim results on Tuesday to £341. 3m, or 13% at constant exchange rates, while product sales were ahead 24% on the same time last year at £239. 7m.
Centrica expands Hive partnership with Eni in Italy
Energy giant Centrica announced on Tuesday it had inked a five-year partnership with Italian energy firm Eni Gas e Luce that would see its 'Connected Homes' products available on the continent by the end of the month.
Aukett Swanke scores Dubai mall contract from Lesso
London-based architectural design firm Aukett Swanke Group landed a new project win in the Middle East to provide roughly 1,270,000 square feet of retail space.
Ascential trading 'in line' as Cannes Lions 2018 launches
Ascential said it remained on track to hit full year forecasts, ahead of a capital markets day being held by the events group o Tuesday.
Gendedrive inks second distribution agreement with Sysmex
Molecular diagnostics business Genedrive announced on Tuesday that it had signed a distribution agreement with Japanese health care firm Sysmex Asia Pacific for its HCV ID kit and its Genedrive platform in the Asia Pacific region.
Bovis Homes on track to meet FY profit expectations amid 'robust' demand
FTSE 250 housebuilder Bovis Homes said on Tuesday that it is on track to meet its expectations for FY2017 and to deliver “significant improvements” in profits for FY18.
Computacenter sees FY results 'comfortably in excess' of previous expectations
Shares in Computacenter surged as the IT services group said results for 2017 will be “comfortably in excess” of its previous expectations following a strong start to the fourth quarter.
London open: Stocks edge higher ahead of inflation data; Vodafone rallies
London stocks edged higher in early trade on Tuesday as investors eyed key inflation data and sifted through a slew of corporate releases.
Meggitt CEO retires, confident despite bumpy third quarter
Defence supplier Meggitt said that chief executive Stephen Young will retire next April as it reported slower progress in civil aerospace and a decline in military revenue in the third quarter.
Rough diamond sales rise at Anglo American's De Beers
Sales at Anglo American’s De Beers diamond business edged up in the ninth sales cycle of the year as orders rose ahead of Christmas.
McCarthy & Stone profit drops but revenue beats expectations
Retirement housebuilder McCarthy & Stone posted a drop in full-year profit on Tuesday even as revenue beat analysts’ expectations, amid increased build and incentive costs.
Land Securities posts solid first half despite Brexit headwinds
Land Securities posted a 5. 2% year-on-year improvement in revenue profit in its first half on Tuesday, to £203m, while its valuation deficit was broadly stable, falling 0. 1% to £19m.
ITV enjoys improvement in TV advertising revenues, Studios sales
ITV reported an easing in the television advertising crunch in the third quarter and further good growth in online and overseas sales of its Studios productions.
Aviva swallows Ireland's Friends First in EUR 130m deal
Aviva has reached an agreement to acquire Irish insurer Friends First Life Assurance Company for a cash consideration of €130m, it announced on Tuesday.