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Weir Group scales back revenue guidance for full year
Scottish mining-focused engineering group Weir reported a small rise in first-half adjusted profits and said that strong aftermarket demand has bolstered its project outlook, though full-year revenues will likely miss forecasts.
Glencore to reveal decision on coal demerger next week
Commodities miner and trader Glencore held annual production guidance and said it would reveal whether a planned demerger of its coal and carbon steel assets would go ahead at interim results next week.
Greggs benefits from expanded range as interim profits rise
Bakery chain Greggs lifted its interim dividend on Tuesday as it reported a jump in profit and revenue as it benefited from an expanded food and drinks range.
UK's FCA considering redress scheme for motor finance claims
The UK’s financial watchdog said it was considering a compensation scheme for motor finance customers who complained about commission payments but was extending a deadline for companies to respond.
BHP, Lundin bid $3.25bn bid for Filo to expand copper presence
Australian Mining giant BHP rebounded from its failure to buy rival Anglo American and announced it would expand its copper interests in South America via a joint venture with Canada’s Lundin Mining which in turn would offer $3. 25bn to acquire Filo Corp.
Diageo profits hit by weaker performance in Latin America, Caribbean
Diageo reported a drop in full-year organic operating profit on Tuesday as it pointed to a weaker performance in Latin America and the Caribbean (LAC).
BP unveils more share buybacks after beating Q2 profit forecasts
BP swung into the red on a reported basis in the second quarter as a result of $2. 77bn of so-called "adjusting items", but that didn't stop the energy giant from beating market forecasts on an underlying basis and unveiling another $1. 75bn share buyback programme.
London pre-open: Stocks seen flat amid earnings barrage
London stocks were set for a flat open on Tuesday as investors mulled the latest retail inflation data and braced for a barrage of earnings from the likes of BP, Standard Chartered and Diageo.
Standard Chartered lifts guidance, Fresnillo reports first-half growth
London open The FTSE 100 is expected to open 20 points lower on Tuesday, having closed up 0. 08% on Monday at 8,292. 35.
Standard Chartered unveils $1.5bn share buyback as profits beat estimates
Asia-focused bank Standard Chartered on Tuesday unveiled its biggest-ever share buyback and lifted guidance as interim earnings beat estimates.
Tuesday newspaper round-up: House prices, Ofgem, NatWest
House prices are expected to rise over the second half of the year across the UK, according to a forecast, with the market bolstered by more people selling their homes. Prices are likely to increase by 2% towards the end of 2024, Zoopla has predicted. The improved outlook for the housing market was the result of an increased number of homes for sale, the property portal said. The number of sales agreed in the four weeks to 21 July was 16% higher than the same period a year ago and the average estate agent had more homes for sale than at any point in the past six years.
US close: Stocks broadly flat as investors await tech earnings
US stocks started the new trading week in subdued fashion, with markets rangebound ahead of hotly anticipated earnings reports from the likes of Microsoft, Meta, Amazon and Apple over the next few days.