Market Pulse
Judges Scientific revenue rises, outlook more uncertain
Scientific instrument sector investor Judges Scientific reported a 20% uptick in 2023 revenue in its final results on Thursday, reaching £136. 1m, although its shares were sliding on a more uncertain outlook for 2024.
3i Group reports strong growth at Action
3i Group said in its third-quarter update on Thursday that its largest portfolio company, the Benelux discount retailer Action, recorded notable growth in its 2023 financial year, with net sales reaching €11. 32bn and operating EBITDA hitting €1. 62bn, marking a 28% and 34% increase, respectively, compared to 2022.
UK private sector continues to grow in March
UK service sector output continued to grow in March, albeit at a slower pace, according to a survey released on Thursday, suggesting the economy has likely moved out of recession.
RBC Capital downgrades Redrow to ‘sector perform’
RBC Capital Markets downgraded Redrow on Thursday to ‘sector perform’ from ‘outperform’ following a period of outperformance and the fact the share price is now linked to that of Barratt Developments.
Nationwide, Virgin Money agree terms of £2.9bn deal
Virgin Money has formally agreed to be taken over by Nationwide Building Society in a £2. 9bn deal.
RBC Capital upgrades IAG to 'outperform'
RBC Capital Markets upgraded BA and Iberia owner IAG on Thursday to ‘outperform’ from ‘sector perform’ and lifted the price target to 220p from 200p.
FirstGroup secures London Cable Car contract with TfL
FirstGroup announced on Thursday that it has secured the contract from Transport for London (TfL) to operate the London Cable Car between the Greenwich Peninsula and the Royal Docks area along the River Thames.
London open: Stocks rally after Wall St gains; BoE in focus
London stocks rallied in early trade on Thursday, taking their cue from strong gains on Wall Street after the Federal Reserve stood pat on interest rates and chair Jerome Powell struck a dovish note.
London pre-open: Stocks seen higher after US gains; BoE in focus
London stocks were set to jump at the open on Thursday following strong gains on Wall Street, after the Federal Reserve stood pat on interest rates and chair Jerome Powell struck a dovish note.
Thursday newspaper round-up: Reddit, Daily Mail, zero hour contracts
The disgraced former owner of Norton Motorcycles should have served jail time for his role in the multi-million-pound pension fraud, the chair of the Pensions Ombudsman service has told a parliamentary inquiry into the scandal. The comments by Anthony Arter will be viewed by victims as a thinly veiled criticism of a prosecution run by the Pensions Regulator against former Norton boss, Stuart Garner, who was convicted of three pensions offences in 2022 but avoided prison because the regulator did not allege dishonesty.
US close: Stocks rise as Fed holds interest rates
Wall Street stocks finished Wednesday's trading session on a positive note following the Federal Reserve's decision to maintain interest rates, aligning with market expectations.