Market Pulse
Renold wins £10.6m contract with Royal Canadian Navy
Industrial chains and power transmission products supplier Renold has secured a contract to manufacture flexible couplings for Batch 1 of the Canadian Surface Combatant ships for the Royal Canadian Navy, worth £10. 6m.
London midday: Stocks a touch firmer as investors eye Fed announcement
London stocks were just in the black by midday on Wednesday as investors mulled the latest UK manufacturing data and awaited a policy announcement from the US Federal Reserve.
Picton Property Income hikes quarterly dividend
Picton Property Income declared a 5. 7% increase in its dividend on Wednesday, with the interim payment for 1 January to 31 March to be 0. 925p per share, up from 0. 875p per share for the three months ended 31 December.
Custodian Property maintains quarterly dividend
Custodian Property Income maintained a fourth-quarter dividend of 1. 375p, it confirmed on Wednesday, fully covered by its EPRA earnings per share of 1. 5p.
Asia report: Stocks fall on quiet day for region
Markets in the Asia-Pacific region were in the red on a largely quiet Wednesday, ahead of the US Federal Reserve’s rate decision due later in the global day.
Jefferies reiterates ‘buy’ rating on Volution
Jefferies reiterated its ‘buy’ rating on Volution on Wednesday as it said the company’s ability to drive margins higher, through both revenue mix and efficiency, is more than offsetting the challenging market backdrop to deliver ongoing earning upgrades.
Inspiration Healthcare shares hit record low as material export order remains outstanding
Medical technology provider Inspiration Healthcare Group shares hit a record low early on Wednesday as it said a material export order that was due at the end of January remains outstanding.
Berenberg lowers target price on Videndum following FY results
Analysts at Berenberg lowered their target price on hardware and software manufacturer Videndum from 500. 0p to 450. 0p on Wednesday following the release of the group's full-year results on 23 April.
Safestay acquires Cordoba hotel for EUR 2m
Safestay announced the acquisition of Hotel Lineros in Cordoba, Spain on Wednesday, for €2m.
LSL Property Services appoints new chairman
LSL Property Services announced the appointment of Adrian Collins as non-executive chairman on Wednesday.
Mulberry hit by downturn in luxury spending
Luxury handbag maker Mulberry struck a cautious tone on Wednesday as it reported a drop in full-year revenues, pointing to a downturn in luxury spending.
Spirent Communications Q1 revenues down as market conditions remain 'challenging'
Telecommunications testing company Spirent Communications said on Wednesday that first-quarter revenues were in line with internal expectations but lower year-on-year as market conditions remained "challenging".
Haleon makes 'solid start' to FY24
Consumer healthcare company Haleon said on Wednesday that it had made a "solid start to the year", posting better-than-expected Q1 profits despite seeing a fall in revenues.
London open: FTSE edges higher ahead of Fed; Nationwide data in focus
London stocks edged up in early trade on Wednesday as investors eyed the latest UK manufacturing data and a policy announcement from the US Federal Reserve.
Computacenter warns on first-half profits
Computacenter warned on first-half profits on Wednesday, citing strong prior-year comparatives and challenging UK markets.
Smith & Nephew maintains guidance after strong first quarter
Smith & Nephew reported first-quarter revenue of $1. 39bn in an update on Wednesday, up 2. 9% year-on-year, as its orthopaedics business continued to recover.
UK house prices fall again in April - Nationwide
UK house prices unexpectedly fell in April for the second month in a row, as borrowing rates went up, according to figures released on Wednesday by Nationwide.
London pre-open: Stocks seen flat ahead of Fed announcement
London stocks were called to open flat on Wednesday as investors eyed the latest UK manufacturing data and a policy announcement from the US Federal Reserve.
Wednesday newspaper round-up: Amazon, dividends, Weardale Lithium
Amazon profits soared once again in the first quarter of 2024, the company announced on Tuesday – the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence and advertising sales. Amazon reported overall revenue of $143. 3bn in the first three months of the year – up 13% from the same period in 2023 and surpassing Wall Street expectations of $142. 65bn. The e-commerce giant reported an increase of more than 200% to $15bn, with net income more than tripling to $10.