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Global GDP to fall 5% this year, UK unemployment to hit 10% - NIESR
Global GDP will fall 5% this year, while the UK economy will shrink 10% and unemployment will reach 10%, according to the National Institute of Economic and Social Research.
FTSE 250 movers: Greggs falls on H1 loss; Greencore gains on results
London’s FTSE 250 was up 0. 6% at 17,251. 92 in afternoon trade on Tuesday.
FTSE 100 movers: Housebuilders rally; Fresnillo loses its shine
London’s FTSE 100 was up 0. 3% at 6,120. 42 in afternoon trade on Tuesday.
Goldman lifts 12-month gold price forecast to $2,300
Goldman Sachs bumped up its gold price forecast on Tuesday, highlighting concerns around the longevity of the US dollar as a reserve currency.
Barclays upgrades BT to ‘equalweight’
Barclays lifted its stance on BT to ‘equalweight’ from ‘underweight’ on Tuesday, upping the price target to 130p from 115p as it said Openreach’s plans to build fibre-to-the-premises for 20 million homes over the next five to 10 years will be a positive.
Housebuilders rally on report of Help to Buy extension
Shares of London-listed housebuilders rallied on Tuesday following a report the UK government is planning to extend the Help to Buy scheme.
SSE appoints John Manzoni as chair
Energy company SSE has appointed Sir John Manzoni to succeed Richard Gillingwater as chair of the board with effect from 1 April 2021.
Retail sales return to growth in July - CBI
Retail sales rose a little in July after non-essential shops were allowed to reopen following the Covid-19 lockdown, but sales are expected to dip next month, according to a survey from the Confederation of British Industry.
London midday: Stocks turn lower as virus fears take hold again
London stocks had reversed earlier gains by midday on Tuesday as worries about a rise in new coronavirus infections outweighed hopes of a US stimulus package and a strong showing in the housebuilding sector.
Cleaning product demand boosts Reckitt Benckiser H1
Consumer goods giant Reckitt Benckiser reported a jump in first-half net revenue and profit on Tuesday thanks to a strong performance from its health and hygiene businesses as the Covid-19 pandemic boosted demand for cleaning and pain relief products.
Mitie Q1 revenues fall after contract loss
Outsourcer Mitie posted an 11% drop in first-quarter revenue on Tuesday, partly due to the loss of a major contract.
Foxtons losses widen as London property market hit by Covid
Estate agent Foxtons reported a widening of its interim losses on Tuesday, with revenues down as the London property market was dented by the Covid-19 lockdown.
Greggs swings to H1 loss after store closures
Bakery chain Greggs said on Tuesday that it swung to a loss in the first half as sales fell after its shops were forced to close for three months due to the coronavirus pandemic.
London open: Stocks edge higher as housebuilders rally
London stocks edged higher in early trade on Tuesday, with housebuilders pacing the gains.
Moneysupermarket interim profit drops due to Covid-19
Comparison website Moneysupermarket. com reported a drop in interim profit and revenue on Tuesday as its core markets took a significant hit from the Covid-19 pandemic.
B&M European Value sees H1 earnings ahead of consensus
Discount retailer B&M European Value Retail said on Tuesday that first-half adjusted underlying earnings are set to be comfortably ahead of consensus expectations.
Travis Perkins H1 sales fall 20% due to Covid lockdown
Builders’ merchant Travis Perkins reported a 20% fall in first-half revenues on Tuesday as its performance was dented by the coronavirus lockdown, but trends are improving.
Greencore Q3 revenues decline; agrees sale of molasses businesses
Irish convenience food group Greencore posted a drop in third-quarter sales on Tuesday as it took a hit from the Covid-19 pandemic, and announced the sale of its molasses businesses.
London pre-open: Stocks seen up on positive US cues
London stocks were to rise at the open on Tuesday following a positive session on Wall Street.
Tuesday newspaper round-up: Unemployment benefits, stamp duty cut, restaurants, Boohoo
The number of people claiming unemployment benefits per job vacancy in Britain has increased fivefold since the onset of the coronavirus pandemic, according to an employment thinktank. The Institute for Employment Studies (IES) said approximately eight people are claiming benefits support for every job opening, up from 1. 5 people per job before the crisis began in March. – Guardian.