Fidelity Top Stories
Frasers Group in yet another results delay
Frasers Group on Friday said its annual results would be delayed by at least a month – the third time it four years – as it cited issues with auditing figures for its newly-acquired Studio Retail business.
Euro area core CPI jumps in April
The cost of living in the single currency bloc continued rising in April, hitting a new record in the process as inflationary pressures broadened out from energy.
AO World warns on profits as customers cut back on spending
Shares in UK online electrical goods seller AO World plunged on Friday after the company issued a profits warning as it faced falling sales and warranty cancellations by customers looking to save cash during the cost of living crisis.
Johnson Matthey shares surge as US fund takes 5% stake
Shares in UK chemicals firm Johnson Matthey surged by more than 30% on Friday after the investment arm of New York-based Standard Industries took a 5. 23% stake.
US Q1 compensation growth seen having scant impact on Fed policy
The broadest measure of inflationary pressures in the US jobs market jumped by more than forecast last month as benefits exploded.
NatWest Q1 profits rise on higher interest rates, income
NatWest Bank on Friday reported soaring first quarter profit driven by a rise in interest rates and income.
House price growth slows more quickly than expected in April, Nationwide says
House price growth in the UK slowed more than expected in April amid the ongoing squeeze on household incomes and rising interest rates, the results of a closely-followed survey revealed.
Number of empty shops falls as UK economy reopens
The number of shops standing empty fell in the first quarter, industry research showed on Friday, as the UK economy reopened following the worst of the pandemic.
US GDP contracts unexpectedly in Q1 for first time since mid-2020
The US economy contracted unexpectedly in the first quarter as strong consumer and business spending was offset by a ballooning trade deficit, slower inventory build and a fall in public expenditure.
Sweden unexpectedly lifts key interest rate; flags more hikes as inflation soars
Sweden’s central bank on Thursday raised a key interest rate from zero to 0. 25%, citing the highest inflation level since the 1990s, and said more hikes would follow.
Sainsbury's warns on profits as cost-of-living crisis, inflation bite
UK supermarket chain Sainsbury's warned of lower profits this year due to the impact of the cost-of-living crisis on consumers' disposable income and inflationary pressure.
Weir Group sees hit of up to £20m from Russia exit
Engineering group Weir said it would take a hit of up to £20m as it announced an exit from Russia due to the Ukraine war.
Smith+Nephew Q1 revenues beat forecasts as elective surgeries resume
Medical products maker Smith+Nephew beat first quarter revenue forecasts as elective surgery volumes from the impact of the Omicron Covid variant at the start of the year.
Standard Chartered Q1 profits beat forecasts on rising global rates
Asia-focused bank Standard Chartered on Thursday reported a better-than-expected 6% rise in first-quarter profit, boosted by rising global interest rates.
CMC Markets sees possible path down to parity opening up for euro
The task of managing the differences between economies in the single currency bloc has been magnified by the war in Ukraine and may result in further losses for the euro, perhaps even towards parity with the US dollar, City-based analysts say.
Boeing posts $1.2bn loss as 777X production delayed
US aerospace giant Boeing posted wider first-quarter losses on Wednesday as it took a hit from costs on its Russian business and its new 777X aircraft.
Lloyds Bank posts better-than-expected profits but warns on defaults
Britain’s Lloyds Bank posted better-than-expected first quarter profits on Wednesday, but warned of an uncertain economic outlook amid the cost of living crisis facing Britons.
WH Smith swings to interim profit as travel rebounds after Covid peak
Stationery and travel outlet chain WH Smith swung to a profit for a profit for the half-year as air and rail passengers returned after Covid lockdowns.
Elon Musk to take over Twitter in $44bn deal
Twitter faces an uncertain future, chief executive Parag Agrawal has told employees, after the social media giant agreed to be acquired by US billionaire Elon Musk in a deal worth $44bn.
Primark warns of price rises as inflation bites, H1 profits soar
Agribusiness-to-clothing group Associated British Foods on Tuesday reported soaring first-half profits, but warned of increasing prices at its Primark clothing business due to inflation.