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London midday: Stocks pop higher as sterling slumps on services data
London stocks had popped into the black by midday on Tuesday, as sterling fell on the back of uninspiring services data.
Eurozone August output falls at fastest rate in three years
Output in the eurozone during August fell at its fastest rate in three years in August, with services survey data revised downwards from initial estimates and price inflation making a worrying return.
Ofcom to review Royal Mail's universal service obligations
UK communications regulator Ofcom announced plans to review the nation's universal postal service on Tuesday, as a result of the changing needs and habits of postal users.
Morgan Stanley downgrades Hiscox, upgrades Lancashire
Morgan Stanley has reassessed its performance ratings on stocks in the insurance sector, leading to a downgrade for Hiscox and an upgrade for Lancashire Holdings.
Canaccord Genuity starts Trainline at 'buy'
Canaccord Genuity initiated coverage of Trainline on Tuesday with a ‘buy’ rating and 371p price target as it argued it’s potentially a 10-15% organic growth business and said the valuation is "very low valuation for such a high-growth and quality platform player".
Gamma Communications reports solid first-half performance
Gamma Communications reported a robust first-half financial performance on Tuesday, with significant growth across several key metrics.
JP Morgan downgrades B&M and Tesco on deflation risks
JP Morgan has cut its performance rating for UK-listed stocks B&M and Tesco as part of its downgrade of the whole European food retail sector.
New car registrations enter second year of post-Covid expansion
The UK's new car market saw robust growth of 24. 4% in August, as 85,657 new vehicles were registered, according to fresh data from the Society of Motor Manufacturers and Traders (SMMT).
Asia report: Markets mostly fall amid tsunami of data
Asia-Pacific markets finished in a mixed state on Tuesday, as investors weighed new data on inflation and business activity across the region.
UK services sector shrinks in August
Business activity in the UK services sector fell in August for the first time since January amid higher interest rates, according to a survey released on Tuesday.
EnQuest swings to H1 loss, cites windfall tax
EnQuest tanked on Tuesday after the oil producer posted a first-half loss, pointing to the energy windfall tax.
Renold posts strong first-quarter performance
Renold reported strong financial performance in the first quarter in a trading update on Tuesday.
More cryptos fall; what if Bitcoin drops to $22,000?
New falls in the cryptocurrency market; Bitcoin (BTC) drops 1% in the last 24 hours and falls below $25,700, while Ethereum (ETH), which drops slightly less, is putting $1,600 in danger. Over the past day, the market has lost 0. 86% in market capitalization.
Ashtead shares drop as UK sales forecasts cut
Shares in Ashtead sank on Tuesday morning despite the equipment rental group reporting a record performance in its fiscal first quarter, after it cut its forecast for UK growth due to a "softening" market.
London open: Stocks fall on China data; services PMI eyed
London stocks fell in early trade on Tuesday following uninspiring Chinese data, as investors eyed the latest reading on the UK services sector.
Rio Tinto appoints Jérôme Pécresse as CEO of aluminium business
Rio Tinto said on Tuesday that it has appointed Jérôme Pécresse as chief executive of its aluminium business, succeeding Ivan Vella.
Johnson Service Group ups guidance after strong first half
Shares in Johnson Service Group rose on Tuesday after the textile rental company raised its full-year guidance for the second time in two months and announced a new £10m share buyback programme, after a strong first-half performance.
Europe open: Shares down as weak China survey data hits sentiment
European shares opened lower on Tuesday as weak services survey data from China dampened sentiment.
Molecular Energies set to sell Argentina operations
Molecular Energies announced the proposed sale of its Argentinian oil and gas operations to PLLG Investments, a company beneficially owned by Peter Levine, on Tuesday.
Begbies Traynor buys Welsh insolvency advisors
Professional services consultancy Begbies Traynor is expanding its South Wales operations with the acquisition of Jones Giles & Clay, a debt advice and business insolvency practice based in Cardiff.