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Genel revenues slide as pipeline remains closed
Genel Energy reported a significant decline in revenue to $84. 8m in its full-year results on Tuesday, from $401. 9m in 2022, attributed in part to the average Brent oil price dropping to $82 compared to $101 year-on-year.
Fevertree earnings fall in mixed year for company
Fevertree Drinks reported a mixed set of results for 2023 on Tuesday, with UK revenue down 1% to £114. 8m, while US revenue jumped 22% to reach £117m.
US durable goods orders rise by more than expected in February
Orders for goods made to last more than three years increased by a bit more than expected last month.
FTSE 100 movers: Ocado rallies on trading statement; Auto Trader falls
London’s FTSE 100 was flat at 7,921. 21 in afternoon trade on Tuesday.
Broker tips: Dr. Martens, Mobico, Auto Trader
Goldman Sachs downgraded Dr Martens to ‘sell’ from ‘neutral’ on Tuesday and cut the price target to 87p from 93p.
RBC Capital downgrades Mobico to 'sector perform'
RBC Capital Markets downgraded Mobico on Tuesday to ‘sector perform’ from ‘outperform’ and cut the price target to 80p from 110p following the company’s update a day earlier.
Europe midday: Stoxx rebounds to record high; Softcat surges on H1 earnings
European shares rallied on Tuesday to hit record territory again as investors turned their attention to US durable goods data in the afternoon and inflation numbers later in the week.
Trump's Truth Social set for $6.8bn valuation in Nasdaq debut
Shares in Trump Media & Technology Group surged in pre-market trading on Tuesday ahead of its debut on the Nasdaq as the owner of Donald Trump's Truth Social social-media platform starts its first day as a public company valued at nearly $7bn.
London midday: Stocks flat as investors eye US consumer confidence, inflation
London stocks were little changed by midday on Tuesday as investors eyed a key US consumer confidence reading and inflation data due later in the week.
Co-op Bank announces plans to cut 12pc of workforce
The Co-operative Bank announced plans to slash 400 jobs on Tuesday, or about 12% of its current 3,000-strong workforce, in a bid to streamline operations and reduce costs.
JPMorgan puts Auto Trader on 'negative catalyst watch'
Auto Trader slumped on Tuesday as JPMorgan Cazenove placed the shares on ‘negative catalyst watch’ ahead of FY24 results in May.
US pre-open: Futures rise ahead of key economic data
US stocks were set to rebound on Tuesday after two straight days of losses and ahead of a busy few days on the economic data front.
Markets pricing too many UK rate cuts, says Catherine Mann
Bank of England policy maker Catherine Mann said on Tuesday that financial markets are pricing in too many interest rate cuts this year and that it’s unlikely the UK will move before the Federal Reserve.
Asia report: Stocks mixed on fresh Japan producer inflation data
Asia-Pacific markets closed with a mixed performance on Tuesday, as investors assessed a range of economic data.
Wood Group misses estimates for 2023 but upgrades guidance
Shares in Wood Group slumped on Tuesday despite an upgrade to its current-year outlook, as the engineering company reported wider-than-expected losses and increased debt levels for 2023.
888 posts full-year rise in revenue, adjusted earnings
Gambling operator 888 Holdings reported a significant uptick in revenue in its 2023 results on Tuesday, up 38% to £1. 71bn, while adjusted EBITDA jumped 41% to £308. 3m on a reported basis.
Goldman Sachs downgrades Dr Martens to ‘sell’
Goldman Sachs downgraded Dr Martens to ‘sell’ from ‘neutral’ on Tuesday and cut the price target to 87p from 93p.
Softcat hits operating profit record even as revenue slips
IT infrastructure specialist Softcat reported an 8. 8% fall in first-half revenue on Tuesday, to £467. 2m, but still achieved double-digit growth in gross profit, rising 11% to £196. 5m.
German consumer sentiment still sluggish - GfK
German consumer sentiment remains sluggish, but continues to make slow progress towards recovery, a survey showed on Tuesday.
Eurowag reports sustained growth as it completes investment phase
WAG Payment Solutions, trading as Eurowag, reported sustained robust growth across its products and services in its preliminary results on Tuesday, meeting expectations for 2023.