Market Pulse
RBC Capital upgrades Melrose Industries to ‘outperform’
RBC Capital Markets upgraded Melrose Industries on Monday to ‘outperform’ from ‘sector perform’ as it noted the share price has fallen around 15% from April highs but said the fundamentals remain "very supportive".
Solid State reports record revenue, surge in profits
Computing, power and communications specialist Solid State reported record revenue of £163. 3m in its final results on Monday, representing a 29% increase from year-on-year.
Asia report: Stocks fall as real wages drop further in Japan
Asia-Pacific markets experienced widespread declines on Monday, influenced by weak economic indicators and anticipation of key economic data from the US and China later in the week.
Biome warns of ongoing slowness in bioplastics division
Bioplastics and radio frequency technology specialist Biome Technologies reported challenges in its bioplastics division, alongside positive developments in its Stanelco RF technologies division, in an update on Monday.
Marston's disposes of stake in Carlsberg JV
Wolverhampton-based company Marston's has disposed of its 40% stake in its brewing joint venture with Carlsberg to become a business entirely focused on pubs.
Delivery Hero facing potential €400m antitrust fine, shares tumble
Delivery Hero tumbled on Monday after saying it might face a fine of more than €400m for alleged anti-competitive behaviour.
Huddled acquires stock clearance retailer Boop Beauty
E-commerce specialist Huddled Group announced the acquisition of a 75% controlling stake in Boop Beauty on Monday.
Seeing Machines buys Asaphus Vision, partners with Valeo
Driver monitoring technology specialist Seeing Machines announced a collaboration with global automotive supplier Valeo on Monday, complemented by the acquisition of Asaphus Vision, a Berlin-based development group with strong expertise in machine learning (ML) and artificial intelligence (AI).
Ferrexpo delivers best H1 production since Russia's invasion of Ukraine
Mining company Ferrexpo said on Monday that production levels had surged in the six months ended 30 June and led to its best performance since Russia's full-scale invasion of Ukraine in February 2022.
Quartix flags solid first-half subscription growth
Vehicle tracking specialist Quartix Technologies said in a trading update on Monday that it expected to report first-half revenue of £16m, adjusted EBITDA of £2. 6m, pre-tax profit of £2. 6m, and free cash flow of £0. 9m.
ITM Power inks 500MW capacity reservation deal
ITM Power announced a significant capacity reservation agreement with a major global industrial customer on Monday, securing 500MW of future production capacity for ITM Power’s advanced electrolyser stacks.
London open: Stocks fall as France faces hung parliament
London stocks fell in early trade on Monday as investors mulled the prospect of political instability in France after the second round of the election over the weekend resulted in a hung parliament.
Unite Group confident amid strong student demand
Student accommodation provider Unite Group issued a promising update on current trading and property valuations on Monday, as it anticipated nearly full occupancy and significant rental growth for the upcoming academic year.
Plus500 backs FY expectations after 'strong' first half
Plus500 backed its full-year expectations on Monday after a "strong" first-half performance despite "difficult" market conditions.
Jangada upbeat on progress at investee Blencowe
Natural resources developer Jangada Mines highlighted significant advancements made by Blencowe Resources, in which it holds a 10% stake, on Monday.
London pre-open: Stocks seen flat as investors mull French election news
London stocks were seen little changed at the open on Monday as investors turned their attention to France, where the election resulted in a hung parliament.
Monday newspaper round-up: Boeing, Tata Steel, Fortress Capital
Boeing will plead guilty to a criminal fraud charge stemming from two deadly crashes of 737 Max jetliners, after the government determined the company violated an agreement that had protected it from prosecution for more than three years, the US the government said in court filing late on Sunday. Federal prosecutors gave Boeing the choice this week of entering a guilty plea and paying a fine as part of its sentence, or facing a trial on the felony criminal charge of conspiracy to defraud the US.
US close: Stocks higher following June's NFP report
Wall Street stocks closed higher on Friday as traders returned from the Independence Day break to some hotly anticipated labour market data.