Ifa News Round-Up
Future shares surge as annual guidance held despite 'mixed' markets
Shares in specialist media firm Future surged by more than 20% on Friday as it held annual earnings guidance despite volatile markets, and a warning that trading conditions remain mixed.
Rathbones CFO to become chief of staff to support Investec Wealth transition
Rathbones chief financial officer Jennifer Mathias is stepping down at the end of the year to become group chief of staff to support the integration of Investec Wealth & Investment Limited (IW&I), the company said on Friday.
Mitchells & Butlers sees FY at top end as cost pressures ease
Pub and restaurant chain Mitchells & Butlers said it expected full-year earnings would be at the top end of expectations after a strong rise in sales and easing of cost headwinds.
Morrisons CEO Potts to step down, replaced by former Carrefour boss
Supermarket chain Morrisons said David Potts was stepping down as chief executive after nine years in the role, to be replaced by former Carrefour boss Rami Baitiéh.
LandSec says demand holding up despite rising rates
Property developer Land Securities reported a rise in lettings over the first five months of the financial year as demand for office space held up, despite rising interest rates.
Flutter buys 51% stake in Serbia's MaxBet for €141m
Gambling company Flutter Entertainment said it had bought a 51% stake in Serbia's MaxBet for €141m (£123m), with an option to acquire the remaining 49% in 2029 based on performance.
Cussons holds guidance despite fall in FY profits
Personal care consumer goods maker PZ Cussons on Tuesday held annual guidance despite a fall in full-year profits as cost inflation and issues at its Nigerian operation continued to weigh.
Volumes, pricing drive 20% profit rise at Smiths
Engineering group Smiths hailed a 20% rise in annual operating profit, driven by volume growth and higher prices which offset the impact of inflation.
Aviva buys AIG's UK protection business for £460m
British insurer Aviva on Monday said it had bought AIG's UK protection business for £460m.
Rathbones deal, higher interest rates boost Investec H1
Investec on Friday said it expected to post higher earnings for the first half of the year, boosted by the now-completed merger of its UK wealth and investment business with Rathbones, higher global interest rates and growth in average lending books.
Frasers tries to drag Morgan Stanley boss into margin call legal fight
Mike Ashley's Frasers Group on Friday confirmed it had asked a New York court to order Morgan Stanley chief executive James Gorman to hand over evidence for a UK lawsuit against the bank over an almost $1bn margin call covering trades in Hugo Boss.
BoJ holds rates steady again
The Bank of Japan left its monetary policy unchanged on Friday with rates left at -0. 1%, in line with expectations.
UK retail sales rise 0.4% in August after wet July
UK retail sales rebounded in August from the rain affected prior month, rising 0. 4% on the back of strong food and clothing purchases by consumers, according to official data published on Friday.
Next lifts annual profit guidance again after strong summer sales
UK fashion retailer Next on Thursday lifted full-year guidance for the third time in four months after better-than-expected summer sales and said inflationary pressures should ease next year.
Murdoch steps down as chair of Fox and News Corp
Rupert Murdoch is to step down as chair of Fox and News Corporation, it was officially announced on Thursday, with the 92-year-old media empire owner becoming "chair emeritus", leaving the way open for his son Lachlan to take over the reins.
JD Sports surges on FY outlook as demand for trainers stays strong
Shares in JD Sports Fashion surged as the UK sportswear retailer said it was on track to deliver a 5% rise in annual profit after interim earnings rose by more than a quarter, driven by resilient sales of trainers and athletic leisurewear amid the cost-of-living crisis.
Rise in UK borrowing limits Hunt's scope for tax cuts
Britain's budget deficit in August was slightly higher than expected, according to official data published on Thursday, meaning Finance Minister Jeremy Hunt will have less scope for tax cuts ahead of the General Election.
Elementis shares surge as Franklin sale demand rebuffed
Shares in UK chemicals group Elementis on Wednesday surged as the company rejected a demand by major shareholder Franklin Mutual Advisers to sell the company.
Finsbury Food shares surge on sale to DBAY
Shares in Finsbury Food Group surged by a fifth on Wednesday after agreeing to a £143. 4m takeover by asset management firm DBAY.
Dunelm sees higher earnings in 2024 as annual profits fall 7.8%
UK homewares retailer Dunelm reported a 7. 8% fall in annual profits as hard-pressed shoppers reined in spending amid the cost-of-living crisis, but expects earnings growth this year on higher volumes.