Ifa News Round-Up
NatWest shares fall on deposit outflows, despite forecast-beating Q1 profit
Shares in NatWest fell in early London trade despite the UK bank reporting better-than-expected first-quarter profit driven by higher interest rates, although there was a sharp drop in deposits as customers chased better rates as incomes were squeezed by rising inflation.
Rotork sees FY slightly ahead as Q1 sales rise on strong order book
Specialist engineer Rotork said it expected adjusted operating profit to be slightly ahead of expectations driven by strong order intake.
Pearson underlying Q1 sales rise 6%; plans £300m buyback in H2
Education publisher Pearson said it was on track to meet annual guidance and announced a £300m share buyback to start in the second half of the year as underlying group sales rose 6%.
Tullow Oil in asset swap deal with Perenco
Tullow Oil has signed an asset swap agreement with Perenco Oil and Gas to optimise its equity ownership across key fields in Gabon through a cashless asset swap, the company said on Friday.
Hikma upgrades FY guidance, cautious on Sudan impact
Hikma Pharmaceuticals upgraded full-year guidance after a stronger-than-expected start to the year for its generics business but expressed concern about the impact of the current conflict in Sudan on operations.
Barclays holds guidance as Q1 profit jumps 16%; Shares gain
Barclays said it was on track to meet full-year guidance as it posted a 16% jump in pre-tax profits driven by growth across all its businesses.
Sainsburys lifts guidance despite squeeze on FY profits amid price war
UK supermarket chain Sainsbury's on Thursday lifted guidance for the current fiscal year after posting a fall in 2022/23 profits as it spent £560m to keep prices low in the battle for consumers amid the cost of living crisis.
Capricorn Energy shares slump despite $575m payout pledge
Troubled oil and gas producer Capricorn Energy is planning to give shareholders $575m in payouts after a failed merger, boardroom clearout and radical cut in operations.
Spectris holds guidance as Q1 sales rise 24% on strong order book
Precision instrument maker Spectris held annual guidance as first quarter sales rose 24% driven by a strong order book and easing of supply chain constraints.
Glencore buys stake in Brazil assets from Norsk Hydro for $700m
Miner and commodities trader Glencore said it was buying a 30% stake in Brazilian alumina refinery Alunorte and a 5% stake in bauxite producer Mineracao Rio do Norte from Norwegian aluminium producer Norsk Hydro for around $700m.
DS Smith sees FY in line as prices offset lower volumes
Paper and packaging group held full-year guidance as higher prices offset forecast lower volumes.
GSK Q1 beats estimates
GSK first quarter profits and revenue both beat expectations driven by its shingles and meningitis treatments, among others.
Bunzl sees annual revenue slightly ahead of expectations
International distribution specialist Bunzl said it expected annual revenue and operating margin to be slightly ahead of forecasts as it reported a rise in first-quarter sales of 8. 4%.
AB Foods shares slide on cautious Primark consumer outlook
Shares in Primark owner Associated British Foods fell sharply on Tuesday as the clothing retailer-to-foods group guided for flat annual profits and expressed caution over consumer spending amid the cost of living crisis.
Belligerent UK deputy PM Raab quits after bullying findings
UK deputy prime minister and Justice Secretary Dominic Raab has resigned after he was found to have bullied and harassed civil servants.
UK's CBI reports new criminal offence to police
Scandal-ridden business lobby group the Confederation of British Industry has admitted handing over details of what it called a serious criminal matter to police.
Babcock warns on potential £100m hit from UK frigate contract
UK defence engineer Babcock on Thursday said it may have to take a hit of up to £100m on a Royal Navy frigate contract after inflation pushed build costs higher as it argued with the government over who should pick up the bill.
Wandisco woes worsen as FCA launches fraud probe
Embattled tech firm WANdisco’s woes worsened on Thursday as the UK’s finance watchdog said it was starting a fraud probe into the company.
Rio Tinto cuts copper production guidance, posts record iron ore shipments
Rio Tinto reported record first-quarter iron ore shipments from its Plibara operations in Western Australia as China ramped up steel production, but cut copper output guidance due to issues at its US Kennecott and Chilean Escondida operations.
UK, Germany drive rise in National Express Q1 revenue
Transport operator National Express reported a rise in first-quarter revenues driven by an improvement in UK buses and German rail.