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Capital & Counties NAV falls but remains upbeat for 2017
Capital & Counties Properties’ net asset value fell in 2016 due to changes in stamp duty and political uncertainty, although the property firm remained upbeat over its key London assets in Earls Court and Covent Garden.
Fever-Tree fizzes higher as RBC Capital initiates at 'outperform'
Fever-Tree got a boost as RBC Capital Markets initiated coverage of the stock at ‘outperform’ with a 1,700p price target, saying the long-term trajectory is robust.
Tritax Big Box buys land, agrees funds for Oxfordshire distribution centre
Tritax Big Box Real Estate Investment Fund said it had bought land for a new distribution centre in Oxfordshire and also provided forward funding for the project.
Indivior full-year profit hit by litigation charge
Drug maker Indivior reported a drop in full-year pre-tax profit as it took a hit from a one-off litigation charge.
Petrofac swings into the green in 2016
Petrofac posted its full-year results for the 2016 calendar year on Wednesday, claiming a “good operational performance” across all businesses with an underlying net profit of $421m.
London open: Stocks edge higher as investors eye GDP; Lloyds in focus
Stocks in London edged higher in early trade, buoyed by a strong performance in the US, where indices closed at fresh highs, as investors awaited the release of UK economic growth figures.
UBM full year up slightly; sees 2017 boost from FX
Events company UBM said full year pre-tax profits rose slightly to £120. 1m from £119. 6m.
Higher trade tariffs in US and abroad would be "very bad", Fed´s Williams says
A top US central banker said the strength of the US economy called for gradual interest rate hikes over the next few years, while conceding that the new US administration´s economic policy choices might influence the appropriate pace of policy normalisation.
Hays posts rise in first-half profit, net fees
FTSE 250 recruiter Hays reported a rise in profit and net fees for the first half of the year, thanks in particular to solid performances in Germany and Australia.
Unite Group's earnings rise although profit falls, remains upbeat for 2017
Student accommodation manager Unite Group’s earnings for 2016 rose underpinned by an expansion of its portfolio through acquisitions, although profit halved for the year.
Metro bank narrows full year loss
Challenger bank Metro narrowed full year pre-tax losses to £16. 7m from £49. 1m as it reported a 56% rise in deposit growth to £7. 9bn.
Profit surges at Barratt Developments while revenue and completions dip
Housebuilder Barratt Developments posted its half year results to 31 December on Wednesday, reporting completions outside of London as being at their highest level for nine years.
Morgan Advanced Materials agrees sale of UK Electro-Ceramics business
Morgan Advanced Materials has agreed the sale of its UK Electro-Ceramics business, which comprises two sites at Ruabon and Southampton, to CeramTec UK Limited, a fully owned subsidiary of CeramTec GmbH.
ConvaTec launches catheter product in US
Medical technology company ConvaTec has launched GentleCath Glide, an intermittent catheter developed to provide more options for hydrophilic catheterisation, and has extended the Me+ direct to consumer programme in the US.
Weir full year profits fall, but sees growth in Q4
Oil services outfit Weir reported a 22% fall in full year pre-tax profits to £170m as it was hit by the collapse in prices but said it had returned to growth in the final quarter as prospects for the sector brightened.
Barratt profits rise as completions outside London surge, Lloyds Bank profit more than doubles
London open.
London pre-open: Stocks seen higher on strong US cues; GDP eyed
Stocks in London were set for a firmer open on Wednesday, taking their cue from a positive session in the US, where indices closed at fresh highs, as investors await the release of UK economic growth figures.
Wednesday newspaper round-up: Brexit, business rates, Peugeot
The City of London has warned that the loss of banking jobs to EU countries due to Brexit could threaten British and European financial stability. Interviews with more than half a dozen senior bankers and business leaders reveal growing certainty that the threat of losing single market access will force a wave of relocations this year and may cause an “unwinding” of a cluster of related businesses. – Guardian.