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London midday: Stocks in the red amid global downturn worries
London stocks were still firmly in the red by midday on Thursday amid ongoing concerns about a global downturn, as investors mulled the latest reading on UK GDP and household incomes.
Ryanair reaches pay deal with pilots’ union Balpa
Budget airline Ryanair has reached a pay deal with pilots’ union Balpa on post-Covid pay restoration for its UK pilots.
Bitcoin ends June below $20,000 and at risk of further short term declines
Bitcoin closes the month of June today, and does so below the $20,000 level (-4%, $19,279). Sentiment in the cryptocurrency market has been badly damaged by the collapse of the TerraUSD stablecoin, which has clearly dented confidence in the crypto ecosystem in general.
JPMorgan downgrades Intertek to 'neutral' from 'overweight'
JPMorgan Cazenove downgraded Intertek on Thursday to ‘neutral’ from ‘overweight’ as it took a look at the testing, inspection and certification sector.
Jefferies downgrades National Grid to 'hold'
Analysts at Jefferies downgraded utility company National Grid from 'buy' to 'hold' on Thursday, stating pressures on regulated returns and rising real yields both presented headwinds for the group.
UK Grid prepares to pay cos cash to cut power use this winter - report
National Grid is asking UK companies how much electricity demand they will be able to cut next winter to help keep the lights on, Bloomberg reported, citing documents.
UK car production rises 13.3% in May
UK car production rose 13. 3% in May, with 62,284 units leaving factory gates.
Mears witnesses 'robust trading' throughout H1
Social care provider Mears Group said on Thursday that "positive trends and robust trading" seen during the first four months of the financial year had continued through the remainder of the first half.
M&C Saatchi confirms FY profits will be in line with expectations
M&C Saatchi said on Thursday that trading momentum has remained strong and full-year pre-tax profit will be in line with management’s expectations.
IAG converts 14 A320neo options into firm orders
British Airways owner International Airlines Group (IAG) said was converting 14 A320neo orders into firm orders for 11 A320neos and three A321neos.
Europe open: Central banker inflation warnings hit shares
European shares slumped at the open on Thursday after warnings from central bankers that inflation would be more persistent than originally thought, sparking fears of a recession.
London open: Stocks slump amid recession fears; household incomes fall again
London stocks slumped in early trade on Thursday amid ongoing concerns about a global downturn, as investors mulled the latest reading on UK GDP and household incomes.
Pod Point names David Wolffe as CFO
Electric vehicle charging group Pod Point named David Wolffe as its next chief financial officer on Thursday ahead of David Surtees' retirement in February 2023.
GB Group slides after Audax Management sells 5m shares in placing
Identity and fraud software specialist GB Group slid on Thursday after Audax Management sold 5m shares in the company in a placing.
Virgin Money UK launches share buyback programme
Clydesdale Bank parent company Virgin Money UK has launched a share buyback programme, with an initial repurchase of up to £75. 0m in aggregate between its ordinary shares on the London Stock Exchange and its CHESS Depositary Interests on the Australian Securities Exchange.
Hunting sees rise in H2 core earnings as oil price surges
International energy services group Hunting said first-half trading was in line with expectations as it forecast a return to annual bottom-line profitability.
Nationwide sees 'tentative' slowdown in house prices after June figures
The pace of growth in UK house prices in June slowed from the previous month, with “tentative” signs of a slowdown in the market, mortgage lender Nationwide said on Thursday.
China's services, manufacturing activity rebounds in June
Activity in China’s manufacturing and services sectors rebounded in June as Covid restrictions were eased in Shanghai, according to figures released on Thursday by the National Bureau of Statistics.
UK Q1 GDP growth confirmed at 0.8%; household incomes decline 0.2%
The UK economy grew 0. 8% in the first quarter, according to figures released on Thursday by the Office for National Statistics, in line with the initial estimate.
Asia report: Shares lower on Powell comments; China outperforms on PMI
Asian shares were broadly lower on Thursday on warnings from central bankers that inflationary pressures would continue, fuelling worries over a recession.