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Hornby urges shareholders to reject Phoenix offer
AIM-listed model train set maker Hornby reiterated on Tuesday that the offer made by its largest shareholder, Phoenix Asset Management, "significantly undervalues" the company and its prospects.
Banks to ensure borrowers can cope with rate rises, Bank of England says
Amid new worries about sub-prime lending, the Bank of England is looking for banks to tighten up their mortgage requirements to ensure home owners can cope with a potential interest rate rise.
Euro area producer prices fall more than expected in May
Factory gate prices in the euro area slipped more than expected in May, adding to recent weakness.
Santander launches €7.1bn rights issue to support Banco Popular acquisition
Banco Santander has launched a €7. 1bn rights issue at €4. 85 per share to support its acquisition of struggling rival Banco Popular.
HSS Hire sees costs savings at upper end of target
Tool and equipment rental company HSS Hire said on Tuesday that it expects to deliver cost savings at the upper end of its target range, while capex is expected to be lower than previously guided.
Riksbank keeps repo rate at -0.50%, door open to cuts if needed
Policymakers in Sweden sounded a more confident note on the balance of risks but kept the door open to the possibility of fresh interest rate cuts, warning of the risk that inflation expectations might become unanchored or that the country's currency might strengthen too quickly.
Magnolia Petroleum agrees USD18.5m Oklahoma investment deal
Magnolia Petroleum has stuck a deal whereby it will invest$18. 5m on behalf of a US regional investment body in exchange for taking a 29% stake in the company via a new share issue.
Bain and Cinven may seek clearance to make fresh bid for Stada
German pharmaceutical group Stada Arzneimittel confirmed on Tuesday that private equity firms Bain Capital and Cinven are considering submitting an application for regulatory clearance to make another takeover offer for the company after their previous bid failed.
North Korea claims launch of intercontinental missile
North Korea has claimed it conducted a successful launch of an intercontinental ballistic missile for the first time.
Europe open: Central banks in focus
A test launch of a ballistic missile by North Korea is dampening sentiment at the start of trading, with investors otherwise focused on a speech from a top European Central Bank official later in the day which may help shed light on the institution's policy stance.
St Modwen interims disappoint despite optimism
Developer St Modwen Properties increased its dividend 4. 1% as net asset value grew in the first half of the year but profits shrank slightly.
NewRiver raises £225m in capital raising
Convenience-led UK retail and leisure property specialist NewRiver REIT confirmed the results of its £225m capital raising on Tuesday, which it had initially announced on 15 June.
Hunting watching cash generation closely as oil slump continues
International energy services group Hunting issued a pre-close trading statement for the first six months of the year on Tuesday,, ahead of its half year results set to be issued on 24 August.
London open: Stocks in the red after North Korea missile test
London stocks fell in early trade, taking their cue from a downbeat session Asia after North Korea fired a missile into Japanese waters.
Sainsbury's shines as customers demand fast-track paddling pools
Sainsbury's delivered a super start to its financial year as grocery sales growth accelerated and general merchandise, including Argos, outperformed the market.
Imagination Technologies swings to profit, says no progress in Apple dispute
Imagination Technologies has swung to a pre-tax profit for the year to the end of April as it remains in talks with potential buyers for the company.
Spirax-Sarco completes $415m Chromalox deal
Steam, peristaltic pumping and fluid path technology company Spirax-Sarco Engineering confirmed it had completed the acquisition of Chromalox on Tuesday.
Sainsbury's makes strong start to financial year, Spirax-Sarco completes $415m Chromalox deal
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Ryanair traffic jumps 12% in June
Budget airline Ryanair reported a 12% rise in passenger numbers in June as the load factor ticked higher.