Latest News
Ediston Property lifts first-half NAV/share and profit
Ediston Property Investment improved its EPRA net asset value per share to 109. 67p in the six months to 31 March, from 107. 7p six months earlier.
Europe open: Stocks hit by China downgrade
European indices recovered from a weak start to the session following news that ratings agency Moody's had downgraded its view on China's sovereign debt.
Electra Private Equity gets £50m from Epiris sale of PINE Unit Trust
Epiris, the portfolio manager of Electra Private Equity, has sold freehold investment property portfolio PINE Unit Trust to Universities Superannuation Scheme for £95m.
Gulfsands reverts to 100% WI, sole operatorship of PUT-14
Shares in Gulfsands Petroleum are down about 9% after stating its working interest in the Putumayo-14 (PUT-14) contract in Colombia will revert to being 100%, and that it will return to being sole operator.
US pre-open: Stocks seen muted ahead of FOMC minutes
US futures pointed to a muted open on Wall Street on Wednesday as investors awaited the release of the latest Federal Reserve minutes for clues on the timing of the next rate hike.
JPMorgan downgrades Go-Ahead, upgrades National Express
JPMorgan Cazenove upgraded National Express to 'overweight' from 'neutral' as it did the opposite to peer Go-Ahead.
Goldman downgrades TalkTalk, says growth priced in
Goldman Sachs downgraded TalkTalk to 'sell' from 'neutral' and cut the price target to 150p from 190p on valuation grounds as it took a look at the UK telecoms sector.
Moody's downgrades China credit rating on fears of slowdown
Ratings agency Moody's has downgraded China's credit rating for the first time in 30 years as fears grow that the Asian superpower's economy will experience a major slowdown.
RBC Capital downgrades Homeserve on valuation grounds
Homeserve was under pressure on Wednesday as RBC Capital Markets cut the stock to 'sector perform' from 'outperform', saying the valuation is now prohibitive for new money given the strong run in the share price.
HICL Infrastructure sees FY profit rise, proposes raising £205m
Shares in HICL Infrastructure are down more than 1% as it detailed a proposal to raise £205m to address its net funding requirement, and separately posted an improved set of full-year results.
Wednesday broker round-up
Homeserve: RBC downgrades to Sector Perform with a target price of 750p.
Ibstock lays solid start to year
Clay brick and concrete products manufacturer Ibstock updated the market on its trading in the four months to 30 April on Wednesday morning, ahead of its annual general meeting being held in London during the afternoon.
Riverstone Energy delivers another quarter of NAV growth
Riverstone Energy issued an interim management statement on Wednesday, for the period from 1 January to 31 March, reporting that its net asset value stood at $1. 722bn (£1. 372bn) at the end of the period.
Polypipe to replace CEO in board reshuffle, results in line
Piping and ventilation firm Polypipe Group has announced that chief executive David Hall has stepped down after 12 years in the role, with finance chief Martin Payne due to take the reins in October.
LondonMetric sells Morrisons in Loughborough for £33m
LondonMetric Property announced on Wednesday that it sold its Morrisons food store in Loughborough for £32. 5m, reflecting a net initial yield of 4. 25%.
Lively last quarter helps boost Dixons Carphone
Electronics retail group Dixons Carphone posted an update on its fourth quarter trading to 29 April on Wednesday, with reported revenues up 6% across the group, or 2% on a like-for-like basis during the 16-week period.
London open: Stocks little changed but miners drop after China downgrade
London stocks were little changed in early trade as investors sifted through a raft of corporate news and digested a downgrade of China’s credit rating.
Berendsen fights back against 'high risk' French takeover
Laundry services group Berendsen has come out fighting against an unwanted takeover offer from France's Elis Services, saying a the proposal very significantly undervalues the company and would raise risks.
Great Portland Estates 'resilient' in tough year
Great Portland Estates announced its results for the year to 31 March on Wednesday, with its portfolio valuation down 4. 9% during the year, and down 0. 4% n the second half.
Marks & Spencer holds dividend as profits plunge 64pc
Although sales remained steady, Marks & Spencer reported a 64% plunge in profits for the year to 1 April after taking a £437. 4m hit mainly from changes to its pension scheme, international stores, and UK head office.