Market Pulse
London close: Stocks finish lower after Airbus profit warning
London stocks ended Tuesday in negative territory, influenced by significant losses in key sectors following a profit warning from Airbus.
Director dealings: Aviva non-exec invests, Britvic director covers share award costs
Among the director dealings disclosed to market on Tuesday, Aviva announced that T Neil Morrison, a non-executive director, haad purchased a substantial number of shares in the company.
FTSE 250 movers: Ocado hit by broker note; Bodycote, Babcock fall
London’s FTSE 250 was down 0. 9% at 20,377. 54 in afternoon trade on Tuesday.
FTSE 100 movers: Admiral boosted by upgrade; Melrose, Rolls-Royce slump
London’s FTSE 100 was down 0. 3% at 8,258. 89 in afternoon trade on Tuesday.
Elementis shareholder Gatemore calls for strategic review
Elementis shareholder Gatemore Capital Management said on Tuesday that if the company does not launch a strategic review, accelerate its cost-savings programme and replace its chief executive, it may seek to oust the chairman.
Britvic suspends £75m share buyback after Carlsberg offer
Britvic said on Tuesday that it was suspending its £75m share buyback after rejecting a £3. 1bn takeover proposal from Danish brewer Carlsberg.
Merck shares plunge on failure of cancer drug trial
Shares of German chemical and pharmaceutical firm Merck were falling sharply on Tuesday, after it announced that a trial for its head and neck cancer drug xevinapant had been halted due to a lack of efficacy.
Deutsche Bank downgrades Airbus to ‘hold’ after profit warning
Deutsche Bank downgraded Airbus to ‘hold’ from ‘buy’ on Tuesday after the company cut its earnings guidance and delivery targets on Monday.
Deutsche Bank hikes Rolls-Royce price target
Deutsche Bank hiked its price target on Rolls-Royce to 555p from 465p on Tuesday as it revisited the valuation ahead of first-half results.
Chapel Down considers sale as it weighs funding options
Chapel Down said on Tuesday that it is conducting a strategic review of options to fund long-term growth, which includes investment from existing and new shareholders and a potential sale of the company.
London midday: Stocks fall as Rolls-Royce, Melrose hit by Airbus warning
London stocks had fallen into the red by midday on Tuesday, with Rolls-Royce and Melrose pacing the declines after a profit warning from Airbus.
EU calls Microsoft's bundling of Teams 'abusive'
The European Union (EU) accused Microsoft of violating competition regulations on Tuesday, through the “abusive” bundling of its Teams and Office products.
Morrisons sales rise in Q2 as it expands convenience estate
Supermarket operator Morrisons reported a strong second-quarter performance on Tuesday, with continued sales momentum, significant operational progress, and substantial deleveraging.
Tortilla Mexican Grill buys Fresh Burritos for €3.95m
Tortilla Mexican Grill said on Tuesday that it has bought Fresh Burritos, the second largest fast-casual Mexican restaurant group in Europe, and largest in France, €3. 95m (£3. 3m).
Proton Motor Power gets follow-up order from Deutsche Bahn
Proton Motor Power Systems, a designer and producer of zero-carbon fuel cells and fuel cell electric hybrid systems, announced a new follow-up order from DB Bahnbau Gruppe, a subsidiary of Deutsche Bahn, on Tuesday.
Sound Energy demobilises Tendrara workover rig
Sound Energy has announced the successful completion and demobilisation of the Star Valley Rig 101 on Tuesday, following planned workover operations on the gas wells TE-6 and TE-7 at the Tendrara project.
Berenberg upgrades Admiral to ‘buy’, shares rally
Berenberg upgraded Admiral on Tuesday to ‘buy’ from ‘hold’ and lifted the price target to 3,127p from 2,973p, citing an attractive valuation.
Warehouse REIT reports robust year, part-acquires Ventura Retail Park
Warehouse REIT reported a robust set of full-year results on Tuesday, driven by strong occupational demand and a focus on multi-let assets.
Augmentum reports year of solid NAV growth
Augmentum Fintech reported a 3. 1% increase in its net asset value before performance fees in its annual report on Tuesday, rising to £303. 3m from £294. 1m in the prior year.
Orchard Funding lifts expectations amid strong premium finance market
Insurance premium finance and professions funding specialist Orchard Funding Group reported a robust performance in the insurance premium finance market on Tuesday, driving revenue growth through increased lending.