Market Pulse
US close: Stocks finish lower on inflation data, hawkish Fed
US stocks finished lower on Tuesday after inflation data missed forecasts and two Federal Reserve policymakers indicated an interest rate hike in September is a possibility.
John Menzies profits climb on sterling decline
Distribution and aviation company John Menzies reported a rise in half-year profits due to falling sterling, while new chairman Dermot Smurfit, who was appointed in July, said he would assess whether the aviation and distribution divisions needed to be split in two, if they are “best placed to prosper while they are part of one group”.
Commodities: Soros bails out of Barrick Gold
Commodities were generally higher as the greenback lost ground despite supportive comments from Fed officials on Tuesday, amid news that Soros’s investment vehicle had dumped its stake in Barrick Gold and that Chinese trading volumes had plummeted.
BoE Gilt purchase auction well subscribed
The Bank of England's latest reverse auction of longer-dated Gilts was well-subscribed, obtaining £3. 123bn of offers versus the £1. 170bn accepted, resulting in a cover ratio of 2. 67.
Sector movers: UK engineers drop on downgrades, utilities lower as well
Shares in British engineering groups Spectris and Halma dragged the Electronic & Electrical equipment sector lower after analysts at HSBC downgraded their stance on both in the wake-up of the recent run-up in their stock price.
May to travel to China to quell concerns over Hinkley Point
Prime Minister Theresa May is to travel to China in September in order to strengthen trade ties and steady relations with Beijing after trepidation from Westminster regarding China’s involvement in the Hinkley Point nuclear power project.
Director dealings: Bodycote sale follows mixed results
One of the family of Bodycote finance director David Landless has sold more than £332,000 worth of shares in the company as they trade just shy of 11-month highs.
London close: Stocks end lower after mixed inflation data
London stocks closed in the red on Tuesday after mixed UK and US inflation figures.
Investors bearish in August in wake of global growth revisions, says BofAML fund manager survey
As cash levels fell due to revisions to global growth expectations, investors were less bearish in August, according to the results of the Bank of America-Merrill Lynch’s fund manager survey.
RockRose Energy narrows loss as it works towards viability
RockRose Energy announced its interim results for six months ended 30 June on Tuesday, with nil revenue and an operating loss of £306k.
Orosur Mining continues to dig itself out of its financial hole in 2016
Orosur Mining continued to dig itself out of the hole it had fallen into as the company progressed on cost-cutting.
Armadale Capital confirms graphite mineralisation at Mahenge Liandu
AIM-listed investment company Armadale Capital said the geological mapping carried out at its recently acquired high-grade Mahenge Liandu graphite project in south-east Tanzania has confirmed extensive areas of graphite mineralisation.
FTSE 250 movers: Hochschild higher while BGEO gets buried
The FTSE 250 was sitting lower on Tuesday as investors digested mixed UK inflation data.
Amino Technologies wins software licensing contract with Hong Kong's PCCW Media
Amino Technologies, an internet solution provider to entertainment broadband operators, won a software licensing contract to provide its Enable TV device software to Hong Kong multimedia company, PCCW Media.
US open: Stocks fall as inflation figures miss forecasts
US stocks fell on Tuesday as data showed inflation slowed more than expected in July.
Mears Group revenue up as board continues turnaround
Provider of support services to the social housing and care sectors Mears Group announced its interim results for the six months to 30 June on Tuesday,with revenue of £466. 2m up 8% from the same time last year.
FTSE 100 movers: Airlines grounded as miners bounce on results
Despite mixed results, mining giants led the FTSE 100 risers on Tuesday but the index was drifting lower late in the session as rebounding oil prices weighed on airlines.
Google launches new Duo messaging app to rival FaceTime, Skype
Google has launched a new video chat application to rival, Facebook’s Messenger, Apple’s FaceTime and Microsoft’s Skype.
September rate-hike might be on the table, Fed's Dudley says
An interest rate-hike might be on the table for when the US Federal Open Market Committee's members meet in September, a top US central bank official said.
US industrial production rises more than expected in July
US industrial production grew more than expected in July, marking its biggest monthly gain since November 2014, according to the latest data form the Federal Reserve.