Market Pulse
Europe open: Stocks waver as oil slips back
European stocks wavered in early trade following healthy gains in the previous session, as oil prices steadied after Monday’s rally.
London open: Stocks edge higher as pound drifts lower
Stocks in London started lower but quickly moved back into the black following gains in the previous session.
Wood Group secures contract with Suncor Energy to reduce oil well costs
Oil and gas service company Wood Group was awarded a three-year contract to work on Suncor Energy’s heavy oil well pads in Canada due to its cost-saving designs.
BP shelves Great Australia Bight exploration, Dudley eyes $55-$70 oil
In the face of staunch environmental protests, BP has decided to shelve its exploration drilling programme in the Great Australian Bight in order to channel capital into more profitable opportunities.
Great Portland Estates lets 93,000 sq ft since July
Great Portland Estates announced on Tuesday that it had completed 92,800 sq ft of lettings since 1 July, generating a combined annual rent of £7. 9m, with GPE’s share at £7. 1m and market lettings broadly in-line with March 2016 ERV.
Tritax Big Box buys two logistics facilities
Tritax Big Box has exchanged contracts with a “major UK institution” to buy two modern Big Box logistics facilities in Birmingham and Northamptonshire for £115. 5m. ".
Retail sales surprisingly pick up in September, BRC finds
UK retail sales unexpectedly rebounded in September as strong growth in food spending counterbalanced weather-weakened clothing sales, according to a closely followed survey.
Victrex bounces back with strong second half
Plastics group Victrex enjoyed an improved second half, but full year sales still shrank due to consumer electronics weakness that is expected to persist.
SIG poaches McCarthy & Stone's CFO Nick Maddock
Construction supplier SIG poached Nick Maddock of housebuilder McCarthy & Stone to replace its outgoing chief financial officer.
PageGroup reports rise in Q3 profit but cautious on UK, short-term outlook
FTSE 250 recruitment firm PageGroup reported a rise in total third-quarter profit but a drop in the UK, as it expressed caution following the result of the EU referendum.
Grainger claims solid growth, gets go-ahead for Apex House
Residential property investment and management company Grainger provided an update on trading for the year to 30 September on Tuesday, reporting “good rental growth” and “strong sales performance” as a result of cost reductions.
McCarthy & Stone's CFO steps down as it reports improved sales
Retirement housebuilder McCarthy & Stone said trading had improved in the first few weeks of the financial year in comparison to the sharp fall it experienced after the Brexit vote, as the company announced that its chief financial officer was stepping down after five years.
Keller wins contract in Port Said, Egypt
Keller Group has been awarded a “major” contract in Port Said, Egypt, valued at around £60m.
London pre-open: Stocks seen lower after Monday's gains
Stocks in London were set for a weaker open on Tuesday following gains in the previous session, with oil prices still in focus after Russian President Vladimir Putin told an energy congress in Turkey that the nation was ready to join OPEC in a proposed curb on production.
N Brown profits slim less than feared as sales swell
Profits fell 20% in the first half of the year for specialist-fit clothing retailer N Brown, but this was ahead of consensus forecasts and followed a recovery in sales in the second quarter.
Tuesday newspaper roundup: £66bn a year Brexit, Putin, tourism boost
Cabinet ministers are being warned that the Treasury could lose up to £66 billion a year in tax revenues under a “hard Brexit”, according to leaked government papers. GDP could fall by as much as 9. 5 per cent if Britain leaves the single market and has to rely on World Trade Organisation rules for trading with the continent, compared with if it stayed within the EU, the forecasts show. - The Times.