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3M hikes EPS and cash flow guidance for 2023
3M shares were rising strongly ahead of the opening bell on Tuesday after the American conglomerate raised its earnings and cash flow guidance following a solid third quarter.
JPMorgan puts Kingfisher on ‘negative catalyst watch’, cites weaker French outlook
JPMorgan Cazenove reiterated its ‘underweight’ rating on B&Q owner Kingfisher on Tuesday as it placed the shares on ‘negative catalyst watch’ ahead of the third-quarter trading update next month.
General Electric raises guidance again after strong quarterly earnings
General Electric (GE) raised its full-year profit forecast for the third time this year on Tuesday on the back of strong quarterly earnings.
US pre-open: Stocks seen up ahead of Microsoft, Alphabet results
US stock futures pointed to a firmer open on Wall Street on Tuesday as investors eyed results from tech giants Alphabet and Microsoft after the close.
Hermes reports strong quarter, though currency a drag
Luxury fashion brand Hermès announced strong quarterly results on Tuesday, with consolidated revenue reaching €10. 06bn by the end of September, marking a 22% increase at constant exchange rates and a 17% increase at current exchange rates compared to the same period last year.
London midday: Stocks a touch weaker as Barclays drags banks lower
London stocks were just a touch weaker by midday on Tuesday, with banks under the cosh after a disappointing update from Barclays, as investors mulled a raft of economic releases.
UK manufacturing orders suffer worst monthly fall since January 2021
UK manufacturers saw the worst monthly fall in orders in October since January 2021, according to a survey released earlier by the Confederation of British Industry.
Europe midday: Stocks rise as Stoxx 600 snaps five-day losing streak
European stocks markets were firmly higher on Tuesday morning as equities rebounded from five straight days of losses – that is with the exception of London's FTSE 100 which was being held in the red by heavy losses in the banking sector.
FD Technologies planning more investment as it swings to first-half loss
FD Technologies shares were tumbling on Tuesday morning after the company swung to a first-half loss due to a decline in revenue.
Volex on track to meet full-year market expectations
Critical power products manufacturer Volex said on Tuesday that it had continued to maintain "strong financial momentum" and was "well positioned" to achieve full-year results in line with market expectations.
ShoreCap downgrades Pets at Home to 'hold'
Shore Capital has slashed its rating on pet supplies retailer Pets at Home from 'buy' to 'hold' due to operational challenges and the ongoing regulatory investigation of its vet business.
Greatland Gold reports further progress at Havieron
Greatland Gold updated the market on its Havieron gold-copper project in Western Australia’s Paterson province on Tuesday, reporting that as of 8 October, the decline development had reached a depth exceeding 2,030 metres, with 770 metres remaining before reaching the base of the Permian cover and the top of the Havieron orebody.
Softcat shares slide as revenue misses forecasts
Technology infrastructure product and service provider Softcat described a year of robust profitability and cash generation in its preliminary results on Tuesday, although its shares were sliding after revenue fell almost 9% and failed to meet market forecasts.
UK private sector activity declines again in October
Business activity in the UK services sector fell again in October, according to a survey released on Tuesday.
Bunzl revenue falls in challenging third quarter
Distribution services giant Bunzl said in a trading update on Tuesday that its revenue fell in nominal and real terms in the third quarter, although it reaffirmed its 2023 adjusted operating profit growth forecast.
Barclays upgrades Rio Tinto on improving iron ore outlook
Barclays has upgraded mining group Rio Tinto from ‘neutral’ to ‘overweight’ after taking a more positive view on iron ore.
Eurozone composite PMI drops to three-year low in October
The economic downturn in the Eurozone deepened in October, with private sector output declining at its steepest rate in 35 months, according to 'flash' purchasing managers' indices (PMIs) out on Tuesday.
Asia report: Markets rebound amid flurry of regional data
Asia-Pacific markets mostly rebounded from earlier losses on Tuesday to end positively after a busy day for data in the region.
Barclays shares tank as full-year NIM guidance cut
Third-quarter headline profits at Barclays may have comfortably beaten analysts' forecasts, but the bank disappointed the market on Tuesday with a cut to its guidance for UK net interest margin (NIM), a key measure of profitability in retail banking.
Abrdn to buy four-closed end funds from First Trust Advisors
Abrdn said on Tuesday that its US subsidiary has agreed to buy the assets of four closed-end funds from First Trust Advisors, adding assets under management totalling around £0. 6bn.