Market Pulse
Judges Scientific warns of extended low order trend
Judges Scientific, the acquisitive scientific instrument group, has warned investors full year profits could be in danger as bookings have not picked up after their usual slow seasonal start to the year.
US services PMI unexpectedly drops in May
Activity in the US services sector unexpectedly deteriorated in May, according to data released on Wednesday.
Canada's WSP to buy Sweett Group for £24m
AIM-listed Sweett Group, which provides professional services for the construction and management of building and infrastructure projects, has agreed to be bought by Canada’s WSP Global Inc for around £24m.
Brexit could jeopardise sterling´s reserve currency status, S&P says
Leaving the European Union could "jeopardise" the pound´s standing as a reserve currency, make attracting foreign capital dearer, Standard&Poor´s Global Ratings pointed out.
Credit Suisse cuts Tesco target price on big-box sales drop
Calculating that Tesco's sales performance at larger stores is likely to be worse than reported and that margins should be "permanently rebased lower", Credit Suisse has cut its earnings estimates and its target price on the supermarket group.
CMA accuses top model agencies of price fixing
The Competition and Markets Authority has accused five modelling agencies of colluding to fix their prices.
Mitchells & Butlers gains on HSBC upgrade
Shares in Mitchells & Butlers gained on Wednesday after HSBC upgraded the stock to ‘buy’ from ‘hold’ and raised the target price to 340p from 300p.
JP Morgan expects boost for CRH from higher US government spending
CRH was well-placed to benefit from recently passed legislation Stateside to boost spending on infrastructure, analysts at JP Morgan said.
Shell reveals 2,200 new job cuts
Royal Dutch Shell has announced it will axe 2,200 further jobs, taking its total 2015-16 job cuts to 12,500.
Former Mothercare boss said to lead rescue bid for BHS
Former Mothercare boss and current chairman of investment group House of Britannia, Greg Tufnell, is reportedly leading a bid to rescue retailer BHS.
RBC upgrades Regus after underperformance
Flexible workspace solutions provider Regus got a boost on Wednesday as RBC Capital Markets upped the stock to ‘outperform’ from ‘sector perform’ and lifted the price target to 400p from 300p.
Europe midday: Stocks push up on Greek deal, rising oil prices
European stocks racked up healthy gains on Wednesday, underpinned by rising oil prices, Greece’s deal with creditors and a better-than-expected reading on German business confidence.
US pre-open: Stocks seen higher as oil advances
US futures pointed to a higher open on Wednesday as oil prices advanced, edging closer to the $50 a barrel level.
London midday: Stocks rise as Greece agrees deal with creditors
UK equities advanced on Wednesday as Greece’s creditors have agreed a deal to unlock a further €10. 3bn in bailout funds to ease the country’s debt burden.
Greece creditors agree to unlock further aid
Greece’s creditors have agreed a deal to unlock a further €10. 3bn in bailout funds to ease the country’s debt burden.
HSS Hire Q1 revenue up but warns of softness in UK economy
HSS Hire Group reported a rise in first-quarter revenue and earnings but warned that market conditions remain “very competitive” and there are signs of softness in the broader UK economy.
Pennon Group's annual pre-tax profits rise marginally
Water utility Pennon Group reported a slight rise in full year pre-tax profit as a strong performance in its energy recovery business offset lower water prices.
Great Portland Estates subsides despite London commercial property confidence
Great Portland Estates's net asset value (NAV) surged 19. 5% in a year of "record-breaking leasing" as, apart from Brexit uncertainty, London's commercial property market was said to remain supportive.
McCarthy & Stone amends credit facility terms
FTSE 250 retirement housebuilder McCarthy & Stone has amended the terms of its £200m revolving credit facility.
Allied Minds announces successful completion of feasibility programme
Allied Minds’ partnership with Bristol-Myers Squibb (BMS), Allied-Bristol Life Sciences, has successfully completed the drug candidate feasibility programme ABLS II and has approved up to $15m to fund further development of the lead optimisation programme.