Market Pulse
Babcock confident of second-half improvement, says ShoreCap
Babcock International has seen a slower performance in the first half but still expects to grow revenues 6% in the full year, broker Shore Capital revealed as it reiterated a 'buy' recommendation on the engineering services outsourcer.
HSBC reiterates 'reduce' rating on Sainsbury after trading update
HSBC has reiterated a ‘reduce’ rating and target price of 185p on Sainsbury after the supermarket reported a drop in second quarter sales.
Imperial Brands 'on track' to meet full year expectations
FTSE 100 tobacco maker Imperial Brands said it was completing its financial year on track with expectations, helped by growth from its huge US acquisition.
CMA to investigate price comparison websites
The Competition and Markets Authority has launched a study into digital comparison tools (DCTs) – websites or apps used by consumers to compare products – to gauge how they are working for consumers, business and the economy.
Plus500 founders offload 15.5m shares
The founders of contracts-for-difference trading platform Plus500 have sold 15. 5m shares in the company at 650p each, raising proceeds of £100. 75m.
Europe open: Energy shares pace the advance after OPEC deal
European stocks rose in early trade, with energy shares pacing the advance after OPEC ministers agreed a deal to cut production for the first time since 2008.
Allied Minds partners with GE Ventures to commercialise emerging tech
FTSE 250 intellectual property company Allied Minds partnered with General Electric’s venture capital subsidiary to commercialise next generation technologies.
Unite Group sells two student accommodation sites for £88.4m
FTSE 250 student accommodation manager Unite Group sold two of its assets to its investment partner Unite UK Student Accommodation Fund (USAF) for a combined £88. 4m.
London open: Stocks rise as investors mull OPEC deal
Stocks in London rose in early trade as investors mulled over news that OPEC ministers have agreed a deal to cut production for the first time since 2008.
KAZ begins commissioning at Bozshakol clay plant
KAZ Minerals announced the completion of construction and the commencement of commissioning works at the Bozshakol clay plant on Thursday.
Euromoney anticipating drop for full-year revenues
International business information and events group Euromoney Institutional Investor issued a pre-close trading update on Thursday, ahead of the announcement of its results for the year to September 30.
Atkins trading to expectations, though difficulties remain
Design, engineering and project management consulting company WS Atkins updated the market on its trading on Thursday, ahead of its half-year results for the six months to 30 September, which will be announced on 17 November.
Shaftesbury claims 'good' trading ahead of year-end
West End-focused real estate investment trust Shaftesbury posted a trading update for the period from 1 July to 28 September on Thursday, reporting trading across its shops, restaurants, cafés and bars as “good” throughout the summer months.
CMC Markets provides some reassurance on trading
Calming investor fears that trading may be deteriorating, CMC Markets on Thursday suggested the situation had not worsened.
GlaxoSmithKline raises £477m from offloading final Aspen shares
GlaxoSmithKline has sold its remaining shares in South Africa's Aspen Pharmacare to raise 8. 47bn rand (£477m).
QinetiQ on track to meet FY expectations
FTSE 250 science and engineering group QinetiQ maintained its expectations for the year on Thursday.
IP Group takes bigger chunk of Ceres after placing
Intellectual property-based business developer IP Group revised its holding in portfolio company Ceres Power Holdings on Thursday, after the latter raised a total of £20m before expenses by means of a conditional placing with new and existing investors in the UK.
RPC Group sees H1 revenues significantly ahead, lifted by acquisitions
Plastic product design and engineering company RPC Group said on Thursday that it expects first-half revenues and adjusted operating profit to be significantly ahead of the previous year.
Merlin posts summer growth despite struggling Midway
Leisure operator Merlin Entertainments posted a trading update on Thursday, outlining its performance over the key summer period.
Thursday newspaper round-up: Heathrow, BHS, RBS
Theresa May has sufficient support in parliament to drive through the contentious expansion of Heathrow airport if she decides to put it to a vote next month, according to close allies. The government will not make a final decision about how to proceed until an aviation subcommittee — chaired by Mrs May — meets on either October 11 or 18. – Financial Times .