Ifa News Round-Up
Ocado holds guidance as Q3 retail sales rise 7.2%
Online grocer and technology company Ocado maintained annual guidance after a 7. 2% rise in third-quarter retail revenues.
Moonpig holds guidance amid challenging conditions
Greeting card maker Moonpig on Tuesday reiterated half-year revenue guidance as trading remained in line with expectations.
Tui holds annual outlook on strong bookings, higher prices
Travel giant Tui on Tuesday held annual guidance on the back of a strong summer and solid bookings for this winter, underpinned by higher prices and despite extreme weather such as wildfires and floods in Europe.
Shares in S4 Capital tank as guidance lowered again, 500 jobs axed
Shares in Martin Sorrell's S4 Capital tanked by almost a third on Monday as the digital advertising agency cut full-year earnings guidance again and axed 500 jobs as clients pull spending over recession fears.
Pendragon sells UK motor, leasing arm for £250m
Car dealership operator Pendragon on Monday said it was selling its UK motor and leasing business to US firm Lithia for £250m.
Mondi signs €775m deal to complete Russia exit
Paper and packaging group Mondi said it had sold its last remaining facility in Russia to Sezar Invest for 80bn roubles (€775m).
Subdued August weighs on UK house prices
A subdued August left UK house prices largely unchanged, industry research showed on Monday.
Games Workshop shares surge as profit, revenues ahead of expectations
Shares in Games Workshop Group surged on Friday after the Warhammer maker said trading for the quarter to August 27 was ahead of expectations, driven by healthy growth across all channels.
Trainline launches £50m buyback after strong first half
Online travel platform Trainline on Thursday launched a £50m share buyback as ticket sales grew by almost a quarter in the first six months of its financial year.
DiscoverIE buys Slovakia's 2J Antennas for £45m
International customised electronics designer and maker discoverIE Group said it had bought Slovakia-based 2J Antennas Group (2J), for €52. 5m (£45m) on a debt free, cash free basis.
Dowlais holds guidance as GKN posts strong first half
GKN Automotive owner Dowlais Group held annual guidance after posting better-than-expected maiden interim profits, driven by strong margins and the growing push for electric vehicles.
Ithaca Energy to buy out Shell stake in Cambo field
UK oil and gas producer Ithaca Energy on Tuesday said it was buying the remaining 30% stake in the West Shetland Cambo field from Shell UK.
AB Foods lifts guidance again as Primark recovers
UK conglomerate Associated British Foods lifted annual guidance again boosted by recovery at its Primark retail chain and strong performance from food operations.
Germany economy slated to contract in 2023, says EC
The German economy is set to shrink this year as high inflation and rising interest rates as Europe's biggest economy goes into a prolonged recession, the European Commission said on Monday.
German August CPI eases to 6.1% but energy, food still surging
German inflation eased to 6. 1% in August - confirming initial readings - as elevated food and energy prices continued to outstrip the overall rate, according to official data released on Friday.
Berkeley holds guidance despite 35% slump in reservations
UK housebuilder Berkeley on Friday reaffirmed full-year earnings guidance but said private sales reservations were down 35% due to rising interest rates and political volatility.
Direct Line shares surge on 25% price hike, commercial lines sale
Shares in Direct Line Insurance Group surged on Thursday as the company slapped drivers with a 25% premium hike to improve operating profit next year while it also picked up £520m via the sale of its commercial lines business.
Direct Line faces £30m bill for overcharging customers
UK insurer Direct Line has agreed with regulators to review overcharging of existing motor and home policyholders in a move that could cost it £30m to fix.
German industrial production falls again in July as struggles continue
German industrial production fell again in July as manufacturing in Europe's largest economy continued its struggles to recover from high inflation and costs.
China exports fall for fourth month in a row
China exports fell for the fourth successive month in August as weak demand and persistent supply chain issues continued to dog the world’s second-largest economy in its efforts to rebound from the impacts of the Covid pandemic.