Market Pulse
BP and Rosneft form Siberian joint venture
BP and Russian resources behemoth Rosneft have created a new joint venture called Yermak Neftegaz to explore for oil and gas in seven license blocks in Siberia and nearby.
UK manufacturing PMI misses expectations in October
Activity in the UK manufacturing sector deteriorated more than expected in October, according to data released on Tuesday.
Amec Foster retreats on Barclays downgrade
Amec Foster Wheeler was under the cosh on Tuesday as Barclays downgraded the stock to ‘equalweight’ from ‘overweight’ and cut the price target by 17% to 500p.
Franchise Brands buys Barking Mad for £900,000
Franchise Brands bought Barking Mad, a provider of dog sitting services, for £900,000 on Monday, which is part of the franchisor’s buy-and-build strategy.
China's Evergrande said to be in talks with Cala
China’s second-biggest property developer is reportedly in talks to buy privately-owned UK housebuilder Cala in a deal that could be worth as much as £700m.
Shell's Q3 earnings improve but outlook remains uncertain
Royal Dutch Shell’s third quarter results improved from the second and beat forecasts, however the oil giant remains uncertain about the oil price outlook.
Jefferies downgrades Morrisons ahead of Thursday's results
Jefferies downgraded Wm Morrison to a 'hold' rating after the stock outperformed the FTSE 100 by more than 40% in the year to date.
Europe open: Stocks edge higher as BP, Shell earnings in focus
European stocks edged a little higher in early trade following encouraging Chinese manufacturing data, as investors continued to sift through earnings releases.
Renew Holdings buys railway engineer for £5m
AIM-listed engineer Renew Holdings has bought Giffen Holdings, a provider of mechanical, electrical and power services for railways, for an initial £5m.
London open: Stocks edge higher ahead of manufacturing data
Stocks in London were a little higher in early trade as investors digested Chinese data and sifted through earnings from the likes of Shell and BP, ahead of the latest reading on the UK manufacturing sector.
Moneysupermarket on track despite low interest rate drag
Moneysupermarket. com Group said it was on track to meet forecasts for a record year after a resurge in insurance offset flat a flat period for credit card and loan switching in the third quarter.
Virgin Money nine-month mortgage lending up 19%
Virgin Money reported a rise in gross mortgage lending for the nine months to the end of September as it expressed confidence that the Brexit vote would not affect its full-year performance.
Hastings nails its targets a year after listing
Hastings Group Holdings provided an update on its trading performance for the 9 months to 30 September on Tuesday, with the board claiming to to deliver in line with, or ahead of, the targets set at IPO.
BP third quarter profits cut in half but beat forecasts
Underlying third-quarter profits halved at BP compared to last year but the fall was not as bad as feared as the oil colossus continues to chip away at costs.
Weir Group lowers full-year expectations on soft energy market
Weir Group posted its interim management statement for the third quarter to 31 October on Tuesday, with aftermarket orders stable during the period, though overall order input was down 7%.
Go-Ahead maintains outlook despite Southern Rail strikes
FTSE 250 transport operator Go-Ahead said its expectations for the full year remain unchanged, as it reported “robust” trading in the first quarter despite a series of Southern Rail strikes.
London pre-open: Stocks seen flat as manufacturing data eyed
Stocks in London were set to open little changed on Tuesday as investors looked to some key manufacturing data.
Tuesday newspaper round-up: Rolls-Royce, Carney, new bank probe
Rolls-Royce, Britain’s leading manufacturing multinational, hired a network of agents to help it land lucrative contracts in at least 12 different countries around the world, sometimes allegedly using bribes. An investigation by the Guardian and the BBC has uncovered leaked documents and testimony from insiders that suggest that Rolls-Royce may have benefited from the use of illicit payments to boost profits for years.