Fidelity Top Stories
Europe close: Corporate results boost main indices
European shares continued to rally on Wednesday as upbeat earnings reports and a strong rise in travel stocks boosted sentiment.
Royal Mail parcel volumes dip as Covid curbs ease
Royal Mail said revenues rose 12. 5% in the first quarter as people continued to shop online with Covid lockdown restrictions still in place, although UK parcel volumes had started to slip as curbs were lifted.
Next lifts annual guidance as Q2 sales crush forecasts
UK fashion retailer Next on Wednesday lifted full-year profits guidance after second quarter full price sales smashed expectations.
Anglo American Q2 shines on diamond demand
Anglo American reported a 20% rise in second quarter production, driven by strong output in diamonds and platinum, despite operations running at 95% of normal capacity because of Covid-19 disruptions.
BoE's Haskel warns against preemptive tightening of monetary policy
One of the Bank of England's top officials argued against reducing monetary stimulus for the economy.
Crude oil futures under pressure after OPEC+ deal at the weekend
Crude oil futures slid at the start of the week after the Organisation of Petroleum Exporting Countries ad its main allies clinched a deal at the weekend to increase their combined output.
Strong defence demand boosts Ultra Electronics first half
Strong demand from defence markets helped Ultra Electronics deliver better-than-expected first-half profits on Monday as it lifted its dividend by 5%.
UK may reinstate some lockdown measures if situation becomes 'unacceptable'
The UK might reinstate some lockdown measures if the latest wave of the coronavirus pandemic becomes unacceptable.
Wall Street primed for biggest correction since start of 'bull' market
Wall Street is now primed for the biggest 'correction' since the start of the current 'bull' market in March 2020, Marketwatch's Mark Hulbert wrote.
Upside surprise in US June retail sales
US retail sales surprised to the upside in June, driven by increased demand for electronics, gasoline and fashion.
Burberry Q1 sales return to pre-Covid levels driven by younger shoppers
Luxury goods maker Burberry reported a return to pre-pandemic sales as younger customers helped drive a sharp rise in first quarter revenues.
Rio Tinto iron ore shipments as weather, labour shortages hit production
Rio Tinto on Friday reported a 12% fall in quarterly iron ore shipments on Friday after storms and labour shortages hit its Pilbara operations in Western Australia.
DS Smith sells De Hoop paper mill for €50m
DS Smith said it had sold its De Hoop paper mill in the Netherlands to De Jong Packaging for €50m (£43m).
Washington weighing lifting travel ban on Europe
Washington may decide if and when to ease restrictions on travel between Europe and the US over the next several days, the US President said.
Revolut set to fetch 24bn pound valuation at funding round, Sky reports
A fund raising round is set to turn Revolut into the most valuable fintech company in Britain ever.
China GDP growth holds up better than expected in June
Economic growth in the People's Republic of China held up better than expected in June, although economists pointed to certain inconsistencies in the data.
Hays sees FY profits above expectations
Recruitment firm Hays said it expected full-year profits to be ahead of forecasts, driven by improving fees and cost management and a better-than-expected fourth quarter.
Citigroup beats analysts' forecasts, upbeat on outlook
US banking giant Citigroup posted better-than-expected results for the second quarter, despite a shrinking topline.
BoA revises 2021 UK CPI forecast higher, but says higher inflation 'transitory'
Economists at Bank of America revised their forecast for UK inflation in 2021 upwards following a stronger-than-expected print on June consumer prices.
eBay agrees to sell Adevinta stake for $2.25bn to net classified deal
Online auction giant eBay has agreed to sell part of its stake in Norway's Adevinta to private equity firm Permira for $2. 25bn, freeing the two firms up to combine their classified ads businesses.