Market Pulse
Cenkos confirms FCA investigation into Quindell role
Broker Cenkos has confirmed that it is being investigated by the Financial Conduct Authority (FCA) over its work advising Quindell, which has since become Watchstone Group.
GDP rises more than expected but Brexit slowdown already apparent
UK economic growth accelerated slightly more than expected in the second quarter, though the official data showed a significant loss of momentum even before the Brexit decision began to take effect and so may not be enough to stop the Bank of England from cutting interest rates next week.
Shawbrook income and profit rise in first half
Shawbrook Group posted interim results for the six months to 30 June on Wednesday, with net operating income improving to £99. 3m, compared with £77. 1m a year ago.
Jupiter Fund Management's H1 profit, AUM rise
Jupiter Fund Management posted a small increase in pre-tax profit for the first half as assets under management edged higher.
Morgan Advanced Materials reports fall in first half profits
Morgan Advanced Materials posted on Wednesday a 6. 1% decline in first half pre-tax profit to £46. 2m as the manufacturer of specialist products underwent a restructuring.
Marston's sales rise, sees 'no discernible impact' from Brexit
FTSE 250 pub operator Marston’s said on Wednesday that it has not seen any discernible impact from Brexit on trading to date as it updated investors on its third quarter.
Mitchells & Butlers reports drop in third quarter sales
Pub operator Mitchells & Butlers reported on Wednesday a 0. 7% drop in total like-for-like (LFL) sales in the third quarter, blaming wet weather in June and the Euro 2016.
Rightmove surges as it posts rise in first-half profit
Shares in online estate agent Rightmove surged on Wednesday as it posted a rise in first-half pre-tax profit and expressed confidence over the full year despite the impact of Brexit.
Apple iPhone sales fall but tech giant beats estimates
Apple's third quarter results provided another fall in sales for its flagship iPhone, despite narrowly beating expectations against the year-ago period.
Rentokil and Google hatch plan to catch rats via the Internet of Things
Royal ratcatcher Rentokil Initial is becoming an online ratcatcher after it teamed up with Google and consultancy PA to provide a 'digital pest control' service that will employ internet of things (IoT) technology to not only monitor infestations but then also predict rodent behaviour and map swarms of pests across continents.
First half earnings slide at Rathbone Brothers
Rathbone Brothers issued its half-yearly report on Wednesday, reporting total funds under management at 30 June of £30. 6bn, up 4. 8% from £29. 2 billion at 31 December.
St James's Place H1 profit slips but dividend lifted
Wealth manager St James’s Place reported a drop in first-half pre-tax profit but lifted its dividend and reported record net inflows.
Europe open: Stocks boosted by Japan stimulus amid earnings deluge
European stocks rose in early trade, with sentiment underpinned by Japan’s announcement of a stimulus package, as investors awaited the outcome of the Federal Reserve’s latest policy meeting later.
Antofagasta improves copper production, reduces costs
Antofagasta posted its second quarter production update on Wednesday, with the company reporting a 5. 8% increase in copper production over the first quarter at 166,200 tonnes.
London open: FTSE touches yearly highs as ITV and St James lead rebound
London's FTSE 100 bumped around 12-month highs in early trading on Wednesday as the rebound since the Brexit vote continued thanks to some encouraging corporate results releases.
ITV hikes dividend as it warns ad revenues likely to slow in third quarter
ITV's revenue growth slowed in the latter part of the first half of the year and, as the broadcaster cautioned that television advertising is likely to be down in the third quarter, it hiked the interim dividend 26% to 2. 4p to keep investor's glued.
Renishaw FY profit slumps 44% but confident over outlook
Engineering firm Renishaw reported a 44% slump in full-year pre-tax profit as revenue fell due to a drop in Asian orders.
ARM revenues power ahead in second quarter
Chipmaker ARM Holdings posted its second-quarter numbers on Wednesday, with group revenues in USD growing 9% year-on-year to $387. 6m and 17% in GBP to £267. 6m in the three months to 30 June.
London pre-open: Stocks seen higher; FOMC in focus
London stocks were expected to open higher on Wednesday ahead of the Federal Reserve rate announcement and as Asian markets got a boost from rising stimulus expectations.
Wednesday newspaper round-up: Executive pay, BHS, Ofcom
A powerful investor group has thrown down the gauntlet to companies over "excessive" and "ineffectual" executive pay,presenting a 10-point plan it says will “rebuild trust” over bosses’ high levels remuneration. The report from the Investment Association, which represents firms managing £5. 5 trillion of assets, said it wanted to “simplify pay structures for company bosses” and “improve the alignment of their interests with those of shareholders who own their businesses”.