Market Pulse
London open: Stocks rise ahead of UK services PMI
London stocks rose on Thursday after a mixed session in Asia as investor weighed a report on China services activity and awaited UK data.
Shawbrook hikes profits and sets out confident loan targets
Shawbrook Group grew profits 29% in the first quarter and, despite a small squeeze on net interest margins (NIM) from higher property lending in the period, stated its confidence in hitting full year targets.
Europe open: Stocks rise as oil prices gain ground
European stocks edged up in early trade as investors sifted through more earnings amid rising oil prices, with volumes likely lower than usual as France and Germany enjoyed a bank holiday for Ascension Day, although stock markets there were open.
Bunzl buys into German incontinence market
International distribution and outsourcing group Bunzl announced two fresh acquisitions in Germany on Thursday.
Sage first-half profit drops, buys stake in Fairsail
Software company Sage reported a drop in first-half pre-tax profit despite a rise in revenue, as it announced an agreement to buy a 20. 7% stake in Fairsail.
Rolls-Royce trading in line despite headwinds
Rolls-Royce Holdings was trading in line with expectations, despite challenging market conditions, it was set to confirm at its annual general meeting in Nottingham on Thursday.
Old Mutual reports solid rise in net client cash flows
Banking group Old Mutual reported an 80% rise in net client cash flows in its first quarter on Thursday, to £1. 8bn, citing its vertically-integrated strategy of owning distribution, an investment platform, discretionary fund management and asset management.
Smith & Nephew Q1 sales hit by China weakness
Artificial knee and hip maker Smith & Nephew posted a 3% rise in first-quarter revenue, as a solid performance in the US was offset by weakness in China.
London pre-open: Stocks seen higher amid raft of earnings
London stocks were expected open higher on Thursday following declines in the previous session.
Thursday newspaper round-up: BT, Wonga, Telefonica, RBS
Liberty Global, the media company that owns Virgin Media in the UK, plans to donate up to £500,000 to the campaign to keep Britain in Europe in one of the largest donations from the corporate sector. The donation, which has to be approved by Liberty Global shareholders, will match the amount already pledged by Goldman Sachs, with a number of other banks also donating lower six-figure amounts. – Financial Times.