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US close: Stocks finish lower on inflation data, hawkish Fed
US stocks finished lower on Tuesday after inflation data missed forecasts and two Federal Reserve policymakers indicated an interest rate hike in September is a possibility.
John Menzies profits climb on sterling decline
Distribution and aviation company John Menzies reported a rise in half-year profits due to falling sterling, while new chairman Dermot Smurfit, who was appointed in July, said he would assess whether the aviation and distribution divisions needed to be split in two, if they are “best placed to prosper while they are part of one group”.
Commodities: Soros bails out of Barrick Gold
Commodities were generally higher as the greenback lost ground despite supportive comments from Fed officials on Tuesday, amid news that Soros’s investment vehicle had dumped its stake in Barrick Gold and that Chinese trading volumes had plummeted.
Bonds: Fedspeak pushes Gilts lower, Spanish bonds outperform
These were the movements in the most widely-followed 10-year sovereign bond yields:.
BoE Gilt purchase auction well subscribed
The Bank of England's latest reverse auction of longer-dated Gilts was well-subscribed, obtaining £3. 123bn of offers versus the £1. 170bn accepted, resulting in a cover ratio of 2. 67.
Sector movers: UK engineers drop on downgrades, utilities lower as well
Shares in British engineering groups Spectris and Halma dragged the Electronic & Electrical equipment sector lower after analysts at HSBC downgraded their stance on both in the wake-up of the recent run-up in their stock price.
May to travel to China to quell concerns over Hinkley Point
Prime Minister Theresa May is to travel to China in September in order to strengthen trade ties and steady relations with Beijing after trepidation from Westminster regarding China’s involvement in the Hinkley Point nuclear power project.
Frenkel Topping confirms 2017 targets
Frenkel Topping saw assets under management increase despite the uncertainty surrounding Brexit as it continued to focus on migrating some of its clients to its new proprietary fund management platform.
Europe close: Markets end on a down note
European stocks edged lower on Tuesday as investors digested a weaker-than-expected reading on German economic sentiment, with miners bucking the trend following well-received results from BHP Billiton and Antofagasta.
Director dealings: Bodycote sale follows mixed results
One of the family of Bodycote finance director David Landless has sold more than £332,000 worth of shares in the company as they trade just shy of 11-month highs.
London close: Stocks end lower after mixed inflation data
London stocks closed in the red on Tuesday after mixed UK and US inflation figures.
Investors bearish in August in wake of global growth revisions, says BofAML fund manager survey
As cash levels fell due to revisions to global growth expectations, investors were less bearish in August, according to the results of the Bank of America-Merrill Lynch’s fund manager survey.
RockRose Energy narrows loss as it works towards viability
RockRose Energy announced its interim results for six months ended 30 June on Tuesday, with nil revenue and an operating loss of £306k.
Centaur Media launches £1m share buy-back programme
Centaur Media launched a £1m share buy-back programme which was to be executed on the open market.
Motif Bio pushes ahead on clinical trials as investors await news on funding
Motif Bio continued to push ahead in its clinical trials for two antibiotics against drug-resistant bacteria, even as its funding options were recently put under the microscope after it postponed listing on Nasdaq.
Results round-up
Although first-half revenue was lower for Antofagasta, the Chilean copper mining colossus improved earnings and kept its dividend flat thanks to some heavy cost cutting.
Small caps news round-up
Orosur Mining continued to dig itself out of the hole it had fallen into as the company progressed on cost-cutting. Full-year fiscal revenues at the South America-focused gold explorer fell 35% to $42. 87m, but the company’s bottom line, before impairments and write-offs, improved from the net loss of $6. 8m seen in 2015 to a profit of $1. 42m.
Orosur Mining continues to dig itself out of its financial hole in 2016
Orosur Mining continued to dig itself out of the hole it had fallen into as the company progressed on cost-cutting.
Armadale Capital confirms graphite mineralisation at Mahenge Liandu
AIM-listed investment company Armadale Capital said the geological mapping carried out at its recently acquired high-grade Mahenge Liandu graphite project in south-east Tanzania has confirmed extensive areas of graphite mineralisation.
FTSE 250 movers: Hochschild higher while BGEO gets buried
The FTSE 250 was sitting lower on Tuesday as investors digested mixed UK inflation data.