Market Pulse
Retail volumes inch higher in May but likely to fall in June, CBI finds
UK reported retail sales volumes returned to modest growth in May, according to a survey by the Confederation for British Industry (CBI), but orders have dropped sharply and volumes are expected to fall again next month.
Carney defends Brexit stance, says mortgage rates could rise
Bank of England governor Mark Carney defended his organisation's rhetoric on Brexit in front of the Treasury Select Committee on Tuesday morning, and explained why he believes mortgage rates could rise if Britain votes to leave the European Union.
US pre-open: Stocks seen touch higher with Fed still in focus
US futures pointed to a slightly firmer open on Wall Street in a rebound from Monday’s declines, although the focus is expected to remain firmly on the Federal Reserve and the timing of the next rate hike.
Asia report: Markets retreat as investors watch Fed
Most markets in Asia ended lower on Tuesday, with Japan and China leading the pack lower as investors in the region took after their US counterparts in playing wait-and-see with the Federal Reserve.
Playtech buys Swedish games studio Quickspin
Gambling software developer Playtech has acquired Swedish games studio Quickspin AB for a maximum consideration of six times the company’s EBITDA in 2018, subject to a €50m cap.
German economic sentiment unexpectedly deteriorates in May
German investor confidence unexpectedly deteriorated in May, according to the latest survey from the ZEW Center for European Economic Research in Mannheim.
Nationwide sees solid profit growth; mortgage lending at pre-recession levels
Nationwide Building Society posted a solid jump in full-year profit, with mortgage lending volumes rising to pre-recession levels.
Barclays upgrades Imperial Brands on improving margin confidence
Barclays upgraded Imperial Brands to ‘overweight’ from ‘equalweight’ and lifted the price target to 4,200p from 3,750p, driven by more bullish medium-term expectations.
Shanks confirms talks to acquire Van Gansewinkel in reverse takeover
Shanks said it is on the verge of making an acquisitive approach for a larger rival, Dutch and Belgian waste collection and recycling business Van Gansewinkel, which would constitute a reverse takeover.
Revenue, earnings slightly ahead at Keller Group
As investors gathered for Keller Group’s annual general meeting on Tuesday morning, the ground engineering specialist revealed its numbers were ahead of last year in year-to-date trading.
Topps Tiles interim profit rises as store rebrand bears fruit
Topps Tiles posted a rise in first-half profit, with revenue up as the rebrand and upgrade of its store bears fruit.
Card Factory sales growth slows in first quarter
Card Factory said like-for-like sales growth slowed as a reduction in footfall at it stores offset continuing growth in average spend per customer.
Kingfisher nails first quarter as Laury's repairs gain traction
DIY retailer Kingfisher put together a solid start to the year, with 6. 2% like-for-like growth in B&Q and Screwfix stores in the UK and Ireland contributing to 3. 6% group growth to £2. 7bn.
London open: Stocks rise ahead of BoE testimony
London stocks edged higher on Tuesday ahead of a Parliamentary testimony from Bank of England officials including governor Mark Carney.
Go-Ahead raises concerns over Bus Services Bill
Passenger transport operator Go-Ahead Group laid out its concerns over the proposed Bus Services Bill on Tuesday, saying it was yet to be convinced that the franchising powers granted to combined authorities will be sufficiently independent.
Micro Focus expects revenue at top end of guidance
Micro Focus International said on Tuesday that it has made a strong finish to the financial year and expects revenues and underlying earnings before interest, tax, depreciation and amortisation to be at the top end of management views.
Acquisitions add to Entertainment One profit growth
Media company Entertainment One reported a modest 2% rise in revenues for the year on Tuesday, to £803m, driven by strong performances in television and family offset by a weaker film division.
Europe open: Stocks in the red as Fed remains in focus
European stocks edged lower in early trade, taking their cue from downbeat US and Asian sessions.
Halfords steps up cycling focus with twin acquisition
Halfords has acquired Swansea online bike sellers Tredz and Wheelies Direct for at least £18. 4m cash.
Homeserve full-year profit and revenue up as customer numbers grow
FTSE 250 repair and insurance company HomeServe posted a rise in profit for the year to the end of March as revenue and customer numbers grew.