Market Pulse
Rex Bionics CFO to retire in March next year
The chief financial officer of AIM-listed Rex Bionics, Peter Worrall, plans to retire and step down at the end of March next year.
Results round-up
Titanium and ilmenite explorer FinnAust Mining’s full year pre-tax loss widened due to the cost of recent acquisitions, with management adding it was wary of the impact the Brexit vote would have on future trading and performance.
FTSE 100 movers: Miners rally but pharmas slip
London's FTSE 100 was up 1. 2% to 6,793. 45 in afternoon trade.
Mitie plummets on profit warning as clients delay spending
Outsourcer Mitie Group warned that full year profits would be materially lower than expected due to a drop-off in higher margin contracts in the first-half and the cost of new efficiency programmes.
Paragon Entertainment promotes its COO to CEO
Paragon Entertainment, an AIM listed attractions design, production and fit-out business, has appointed its chief operating officer (COO) to the role of Chief Executive Officer (CEO).
Avarae Global Coins' revenue rises as it intends to de-list from AIM
Avarae Global Coins, a company dedicated to purchasing, holding and selling rare and high quality coins, continued to trade in line with expectations as full-year revenue increased, while it intends to de-list from AIM.
Credit Suisse starts Petrofac and Wood Group at outperform
Markets were already looking ahead to European oilfield services companies emerging fitter and leaner from the worst downturn in exploration and production in over a generation, analysts at Credit Suisse said.
McDonald's could face $500m tax recall from Brussels
The European Union is preparing to crack down on another US corporation's taxes as fast food chain McDonald's could be forced to backpay $500m to Luxembourg.
Infoblox surges on Vista Equity Partners deal
Infoblox shares surged on Monday after the US network control company agreed to be acquired by Vista Equity Partners for around $1. 6bn.
UK cinemas enjoy box office boost in August
UK cinemas enjoyed their busiest August for five years, according to data out on Monday.
FinnAust Mining's full year pre-tax loss widens due to recent acqusitions
Titanium and ilmenite explorer FinnAust Mining’s full year pre-tax loss widened due to the cost of recent acquisitions, with management adding it was wary of the impact the Brexit vote would have on future trading and performance.
China's credit bubble will burst, warns BIS
Excessive lending by China’s banks could lead to a financial crisis in the next three years, according to a report by the Bank for International Settlements (BIS).
Payday lender CFO agrees to pay £35m for 'unfair practices'
Payday lender CFO Lending has agreed to pay out £34. 8m of redress to more than 97,000 customers for unfair practices, the Financial Conduct Authority said on Monday.
Microsoft to shut London Skype office amid fourth quarter cuts
Skype's offices in London are set to close as parent company Microsoft makes efforts to cut costs during the fourth quarter of this year, leading to the loss of around 220 jobs.
GoldStone Resources narrows loss as Ghana development continues
Africa-focused gold company GoldStone Resources posted its interim results for the six months to 30 June on Monday, again reporting nil revenue as it continued its exploration activities, but significantly reducing its operational costs and narrowing its loss.
Europe midday: Stocks push higher as oil prices gain
European stocks rose on Monday, boosted by firmer oil prices as investors looked ahead to central bank meetings.
London midday: Miners lead equities higher
London stocks advanced on Monday as mining shares rallied on an increase in metal prices.
Glencore rallies on Credit Suisse upgrade
Credit Suisse upped Glencore to ‘outperform’ from ‘neutral’ and nudged up the price target to 220p from 210p.
Ofwat urges more competition in water market
Regulator Ofwat said on Monday that introducing competition into the residential water market could be worth nearly £3bn and would provide financial and service benefits to customers.
Google faces sizeable back tax bill from Indonesia, report says
Indonesia could slap Google with a $400m tax bill for last year alone, amid an investigation into possible illegal tax avoidance that has been stepped up in the wake of the European Commission's tax battle with Apple.