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Morgan Stanley double upgrades IAG to 'overweight', shares fly higher
Morgan Stanley double upgraded IAG on Wednesday to ‘overweight’ from ‘underweight’ and lifted the price target to €2. 80 from €2. 10.
SSP shares surge as Q3 sales rise on strong travel recovery
Shares in SSP Group surged by 11% on Wednesday as the airport and train station food outlet operator held annual guidance after third quarter sales rose 16%, driven by increasing demand for leisure travel.
London midday: Stocks push higher as airlines gain
London stocks had extended gains by midday on Wednesday, helped along by a strong showing from airlines, as investors turned their attention to Federal Reserve chair Jerome Powell’s second day of testimony to Congress and this week’s US inflation reading.
Europe midday: Shares hold gains; SSP soars on trading update
European shares were higher on Wednesday as investors eyed the second day of testimony from US Federal Reserve boss Jerome Powell, while shares in travel food outlet operator SSP Group surged on an upbeat trading update,.
Volkswagen deliveries fall on China weakness, margin guidance cut
German car giant Volkswagen said vehicle deliveries inched lower in the first half as growth was held back by declines in China and the rest of Asia, just one day after it lowered its margin forecasts for the full year.
Johnson Service Group flags rise in half-year revenue
Textile service provider Johnson Service Group issued a positive trading update for the six months ended 30 June on Wednesday, anticipating revenue of £244. 1m, up from £215m a year earlier.
Mpac H1 profits 'substantially above' prior year
Packaging and automation solutions provider Mpac said on Wednesday that trading throughout the first half has been in line with internal expectations, with profits for the period "substantially above" the prior year.
RBC stays positive about PageGroup despite profit warning
PageGroup's profit warning this week wasn't enough to deter RBC Capital Markets from changing its 'outperform' rating on the stock, saying it expects a "sharp recovery in earnings".
Personal Group disposes of salary sacrifice division
Workforce benefits and services provider Personal Group has disposed of its salary sacrifice division for a total upfront consideration of £2. 0m on a cash-free, debt-free basis.
Impax reports fall in AUM, acquires SKY Harbor's Europe assets
Impax Asset Management reported a 6. 8% decrease in assets under management (AUM) for its third quarter on Wednesday, and announced the acquisition of SKY Harbor Capital Management.
Barratt flags slowdown in completions, shares soften
Barratt Developments warned on Wednesday that completions would be up to 7% lower in the current year, hit by higher mortgage costs.
Cordel secures North American railroad contract
Artificial intelligence platform operator Cordel Group has secured a new customer contract with Genesee & Wyoming, the owner and lessor of more than 100 short line and regional freight railroads in North America.
Griffin Mining reports record quarterly production results
Griffin Mining announced record production results for the three months ended 30 June, highlighting significant increases in ore mined and processed at its Caijiaying Mine.
Corero closes out Q2 with 'significant new orders'
Network security specialists Corero has received "significant new orders" for its SmartWall ONE distributed denial of services protection solutions to close out the second quarter.
Acuity RM reports recent strategic progress
Acuity RM Group updated the market on its strategic achievements and future outlook in an update on Wednesday, following the acquisition of Acuity Risk Management.
Asia report: Markets mixed on inflation data, RBNZ holds rates
Asia-Pacific markets exhibited a mixed performance on Wednesday, with Japanese stocks achieving new peaks following the release of expected inflation data.
Hostelworld reports solid first-half performance
Hostelworld Group reported a strong performance for the first half of 2024 on Wednesday, with net bookings reaching 3. 7 million, a 9% year-on-year increase, driven by record performances in Asia and Central America.
The Gym Group FY results seen at higher-end of expectations
Gym operator The Gym Group said on Wednesday that full-year results would likely be at the higher end of expectations following a "strong first half" performance.
Feedback inks collaboration deal with Vertex In Healthcare
Clinical infrastructure specialist Feedback announced a collaboration agreement with Vertex In Healthcare, a clinical IT firm with a presence in the UK, the UAE, and South Africa, on Wednesday.
Direct Line unveils plans to boost growth
Direct Line is to put its flagship motor brand on price comparison websites for the first time, the insurer said on Wednesday, as part of a wider strategy intended to boost profits and cut costs.