Market Pulse
EasyJet flies lower on Liberum downgrade
EasyJet flew lower on Tuesday as Liberum downgraded its stance on the stock to ‘sell’ from ‘hold’ and slashed the price target to 930p from 1,050p following the company’s third-quarter update last week.
Drax earnings drop amid weak commodity markets
Drax Group posted a drop in underlying earnings for the first half of the year amid weak commodity markets and following the removal of the climate change levy exemption.
Ladbrokes, Coral must sell 350 to 400 shops to get merger clearance, says CMA
The Competition and Markets Authority has confirmed that bookmakers Ladbrokes and Gala Coral will have to sell 350 to 400 shops in order to obtain clearance for their proposed merger.
Capital & Counties remains relatively robust in London uncertainty
Capital & Counties posted its interim results for the six months to 30 June on Tuesday, reporting equity attributable to owners of the parent of £2. 8bn - down from £2. 9bn at the start of the period.
Man Group profit, FUM slump in first half
Hedge fund Man Group reported a slump in pre-tax profit and funds under management for the first half amid tough trading conditions.
SEGRO earnings ahead in first half
SEGRO posted its results for the six months to 30 June on Tuesday, describing the period as having “strong operating metrics” supported by good occupational market fundamentals and active management of the portfolio.
EPRA earnings and net asset value ahead in first half at Unite Group
Developer and manager of student accommodation, The Unite Group, announced its half year results for the six months to 30 June on Tuesday morning.
Europe open: Stocks in the red as investors sift through earnings
European stocks were in the red in early trade as investors sifted through more earnings ahead of key central bank meetings.
US investment hurts Jardine Lloyd Thompson in first half
Jardine Lloyd Thompson Group announced interim results for the six months to 30 June on Tuesday, claiming a “good” underlying financial performance reflecting “continued momentum” in the business.
Victrex in line in third quarter, consumer electronics still struggles
High-performance polymer company Victrex released its interim management statement for the third quarter on Tuesday, covering the period 1 April to 30 June.
Croda International H1 profit up, on track for full year
Croda International posted a 7% rise in pre-tax profit for the half year ended 30 June as sales grew and the company said it was on track to meet full-year expectations.
SEGRO poaches Soumen Das as new CFO from Capco
SEGRO announced on Tuesday that it has appointed Soumen Das as its chief financial officer.
London open: FTSE 100 up as reporting season kicks off
London's blue chip stocks opened higher on Tuesday as reporting season kicked into gear to override a lower US close overnight and a mixed Asian session.
P2P Global Investments declares interim dividend
P2P Global Investments declared an interim dividend of 11p per ordinary share on Tuesday, for the three month period to 30 June.
Unilever prices $1.25bn bond on US market
Unilever announced on Tuesday that it had priced a dual-tranche $1. 25bn bond on the US market on Monday.
PZ Cussons posts drop in FY profit but says things are looking up
Imperial Leather maker PZ Cussons reported a drop in pre-tax profit for the year to the end of May but sounded a more optimistic note on its future prospects.
Provident Financial posts serious first-half improvement
Non-standard lender Provident Financial posted results for the six months to 30 June on Tuesday, with first-half adjusted profit before tax up 17. 6% to £148. 9m and adjusted earnings per share up 10. 7% to 77. 9p.
GKN H1 profit drops but revenue boosted by acquisitions
Engineer GKN reported a drop in first-half pre-tax profit and said it expects to book a charge in the second half of the year as it looks to cut costs, although revenue was boosted by acquisitions.
Mondi anticipates higher earnings in first half results
Mondi Group updated the market on its earnings expectations for the six months ended 30 June on Tuesday morning, ahead of the release of its results for the half-year on 4 August.
BP profits plunge in second quarter
BP underlying profits almost halved in the second quarter but the oil giant reduced the level of statutory losses for the first six months of the year and said it was drawing a line under the liabilities for the Deepwater Horizon oil disaster at $61. 6bn.