Ifa News Round-Up
M&S shares surge as H1 guidance lifted on rise in food, clothing sales
UK food, clothes and homewares retailer Marks & Spencer on Tuesday lifted guidance for half-year profits after strong sales growth in the first 19 weeks of its financial year, sending its shares soaring.
UK food price inflation falls for fifth month in a row - Kantar
UK food price inflation fell for the fifth month in a row in the four weeks to August 6 providing some hope that the eye-watering cost of a grocery shop will start to ease for consumers, according to data published by market research group Kantar.
China suspends youth jobs figures as data misses estimates
China's economic woes continued last month, as a deluge of data missed estimates and the country's statistics bureau controversially suspended publication of youth unemployment figures.
BoE under pressure as UK wages growth hits record high, unemployment up
UK wages growth in the three months to June leapt to its highest rate since records began while the unemployment rate also rose unexpectedly, according to official data released on Tuesday, putting more pressure on the beleaguered Bank of England to lift interest rates again in its fight to quell inflation.
Japan Q2 GDP growth beats expectations
Japan’s economy expanded for the third quarter in a row driven by growth in exports on the back of a weak yen, according to provisional data published on Tuesday.
China makes surprise cut to rates as economy falters
The People’s Bank of China made a surprise cut to interest rates on Tuesday as it looked to stimulate economic demand amid a sputtering recovery.
Glencore profits halve on weaker commodity prices
Mining giant Glencore saw earnings halve in the first six months of the year on weaker commodity prices, which had surged in response to Russia's unprovoked invasion of Ukraine last year.
Beazley shares on the rise as Berenberg lifts target price
Shares in non-life insurance firm Beazley gained on Tuesday after broker Berenberg raised its target price, saying that the stock’s recent underperformance “confounds reality”.
China travel rebound helps IHG interim profits rise 62%
Hotels operator IHG on Tuesday reported a sharp jump in half-year profit as the travel sector continued to rebound from the Covid pandemic.
Wet weather, inflation hit July UK retail sales - BRC
Heavy rain and high inflation hit UK retail sales in July, forcing firms to cut prices, a survey showed on Tuesday.
China trade slumps more than expected in July
China’s imports and exports slumped further than expected last month, official data showed on Tuesday, reflecting a stagnating recovery in the world's second-largest economy and increasing pressure on Beijing to provide more stimulus.
German factory orders rise unexpectedly in June
German industrial orders rose unexpectedly in June - defying expectations of a fall - as large-scale orders provided a boost.
US July non-farm payrolls rise by lower-than-expected 187,000
The US economy added fewer new jobs than expected last month, with official data showing non-farm payroll rose by 187,000 in July, below forecasts of an increase of 200,000.
Eurozone July construction activity contracts sharply - PMI
Construction activity in the eurozone entered a "sharp and accelerated decline" last month according to key survey data released on Friday.
Capita shares slump as £25m cyber attack cost hits profits
Shares in UK government contractor Capita plunged on Friday after it posted a loss for the half-year, including taking a hit of up to £25m from a cyber attack on its computer systems.
Next lifts FY guidance after strong rise in Q2 full-price sales
UK fashion retailer Next raised annual profit forecasts on Thursday after strong second-quarter full-price sales and better-than-expected clearances of summer stock.
Eurozone July business activity fell faster than estimates - PMI
Eurozone business activity stagnated more than initial estimates last month as the services sector also slowed along with the already-troubled manufacturing industry, a survey showed on Thursday.
Wilko to call in administrators with 12,000 jobs at risk
UK retailer Wilko on Thursday said it planned to call in administrators as it neared collapse, putting more than 12,000 jobs at risk, amid anaemic consumer demand and high costs.
Hikma lifts guidance for generics business
Hikma Pharmaceuticals lifted annual revenue and margin guidance for its generics business as first-half core operating profit rose 35%.
Wizz Air swings to Q1 profit on soaring demand; Cuts H1 ASK guidance
Low-cost carrier Wizz Air swung to a first-quarter profit on the back of soaring demand for travel and record passenger numbers.