Market Pulse
Broker tips: Restaurant Group, AB Foods, Petrofac
Restaurant Group shares fell on Wednesday as Citigroup downgraded its stance on the stock to ‘sell’ from ‘neutral’ and cut the price target to 320p from 350p.
Inmarsat launches $550m convertible bond
Satellite services group Inmarsat said on Wednesday that it has launched a bond offering of up to $600m.
UK business confidence falls in August due to Brexit uncertainty
As UK consumers shrugged of any Brexit anxiety in August with an increase in spending, businesses reported a dip in confidence, a survey showed on Wednesday.
UK shoppers regain confidence after Brexit vote as saving levels decline
British shoppers have regained their confidence since the Brexit vote, after an initial sharp fall.
Punch Taverns says full year trading in line
Pub operator Punch Taverns reported a rise in average profit per pub for the 52 weeks to 20 August, with like-for-like net income growth in the core estate.
Grafton H1 profit up but warns of challenging UK merchanting backdrop
FTSE 250 builders merchant Grafton Group posted a rise in first-half pre-tax profit as revenue grew thanks in part to strong growth in the Netherlands and Ireland, but the company warned of a challenging backdrop in UK merchanting.
Carclo unlikely to pay dividend after yield slump wipes out reserves
While business remains in line with expectations, Carclo warned it is unlikely to be able to pay its dividend after the slump in corporate bond yields since the Brexit led to a "significant" increase in its pension deficit.
The Gym Group swings to profit in H1, declares maiden interim dividend
The Gym Group, which listed on the London Stock Exchange in November, reported a rise in revenue as it swung to a profit and announced a maiden interim dividend.
Restaurant Group slumps on Citi downgrade
Restaurant Group shares fell on Wednesday as Citigroup downgraded its stance on the stock to ‘sell’ from ‘neutral’ and cut the price target to 320p from 350p.
Microsoft to sell MSN China to local partner
US technology company Microsoft is set to sell its operations in MSN China to Xichuang Technology, a company founded by a former manager of Microsoft Online.
Chemring Q3 revenues up as order book grows
Chemring reported a jump in revenue for the third quarter and said its expectations for the full year remain unchanged.
Europe open: Stocks waver as investors await inflation figures; Commerzbank rallies
European stocks wavered in early trade as investors digested better-than-expected German data ahead of key eurozone inflation figures.
UK housing market shrugs off Brexit uncertainty in August, Nationwide data shows
UK house price growth accelerated in August as demand continued to outstrip the supply of properties for sale, according to Nationwide on Wednesday.
Gala Coral revenue up but losses widen
Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker’s loss widened due to exceptional costs.
London open: Stocks flat as investors digest consumer confidence figures
London stocks were little changed in early trade as investors sifted through some mixed corporate earnings and a survey showing a rebound in UK consumer confidence.
James Fisher eyes return to growth in second half
Marine services group James Fisher said it expected to return to growth in the second half and produce "a good improvement" in the full year as new contracts and acquisitions aid the revival after further falls in revenue and profits in the first half.
Diploma sales growth accelerates thanks to weak pound
Underlying sales grew 2% in the year to September at Diploma with acquisitions and the weak pound helped lift statutory revenues 14%.
888 ups the ante on sports to improve mood after failed Hill tilt
A new dash into sports betting and strong casino winnings lifted first-half results from 888 Holdings, helping to make up for its failed plot to buy William Hill.
London pre-open: Stocks seen flat as investors digest consumer confidence survey
London stocks were expected to open little changed on Wednesday as investors mull over a survey showing a rebound in UK consumer confidence.
Wednesday newspaper round-up: BHP boss, ARM Holdings, ITC Travel
The construction of what would be the tallest building in the City of London may be delayed as commercial property investors across the capital become nervous after the Brexit vote about a slowdown in demand for office space. The property division of the French-owned Axa is set to ask investors whether they want to proceed with building 22 Bishopsgate, a 62-storey 278m-high building in the heart of London’s financial district costing an estimated £1. 5 billion.