Market Pulse
GlobalData upbeat on first half results
Data, analytics, and insights specialist GlobalData reported a solid set of first-half results on Wednesday, highlighted by an 8% increase in adjusted EBITDA to £57. 8m, driving an improved EBITDA margin of 41%, up from 39% in the first half of 2023.
Endeavour to return $435m to shareholders over next two years
Africa-focused gold miner Endeavour Mining said on Wednesday that it would payout no less than $435. 0m via dividend payments over the next two years as it revealed it remained on track to deliver full-year production at costs near the top end of guidance.
Restore reports steady first-half performance
Information management and lifecycle solutions provider Restore reported a steady first-half financial performance on Wednesday, with group revenue remaining largely unchanged at £139. 4m, compared to £139. 6m in the same period last year.
International Personal Finance upgrades expectations, launches buyback
International Personal Finance (IPF) announced a solid set of first-half results on Wednesday, upgrading its full-year expectations after a significant increase in profits, alongside a new share buyback programme aimed at enhancing shareholder value.
JPMorgan ups Spectris to ‘neutral’, says risk/reward more balanced
JPMorgan Cazenove upgraded Spectris on Wednesday to ‘neutral’ from ‘underweight’ and lifted the price target to 2,950p from 2,750p as it said the risk/reward was now more balanced.
Asia report: Markets rally as BoJ hikes interest rates
Asia-Pacific markets experienced a robust rally on Wednesday, with significant gains across major indices as investors reacted to central bank decisions and economic data from China.
ASML surges on report US will exempt allies from China chip restrictions
Dutch chip equipment maker ASML surged on Wednesday following a report it will be exempt from new US rules on foreign chip equipment exports.
Metro Bank shares jump on upgraded guidance
Metro Bank shares were rocketing on Wednesday morning, after it upgraded its guidance on the back of a strong set of first-half results.
Shaftesbury Capital reports robust first-half leasing activity
Shaftesbury Capital reported a 1. 6% increase in EPRA net tangible assets per share to 193. 4p in its half-year report on Wednesday, up from 190. 3p at the end of 2023.
Rio Tinto maintains dividend after stable first half
Rio Tinto reported underlying EBITDA of $12. 1bn for its first half on Wednesday, making for a modest 3% increase from the same period in 2023.
Rathbones H1 profits surge after IW&I merger
Rathbones posted a jump in first-half profit and funds under management on Wednesday as it said it was ahead of its objectives following a merger with Investec Wealth & Investment (IW&I).
Conduit RoE improves amid 'strong' growth in gross written premiums
Reinsurance business Conduit said on Wednesday that its return on equity had improved in the six months ended 30 June, driven by "strong" year-on-year growth in gross written premiums.
Design and installation segment weighs on Wickes H1 revenues
Wickes posted a drop in first-half group revenue on Wednesday as it was hit by "challenging" conditions in its design and installation division.
London open: Stocks gain ahead of Fed announcement
London stocks rose sharply in early trade on Wednesday, underpinned by strength in the mining and energy sectors, as investors eyed the latest policy announcement from the US Federal Reserve.
Just Eat H1 core profit rises, €150m share buyback launched
Just Eat backed its guidance for 2024 on Wednesday as it posted a more than 40% increase in first-half core profit and announced a new €150m share buyback programme.
London pre-open: Stocks seen up ahead of Fed, BoE policy announcements
London stocks were set for a positive open on Wednesday as investors looked ahead to policy announcements from the US Federal Reserve and the Bank of England.
Wednesday newspaper round-up: Workplace sickness, Google-Anthropic, Carpetright
The hidden cost of rising workplace sickness in the UK has increased to more than £100bn a year, largely caused by a loss of productivity amid “staggering” levels of presenteeism, a report warns. Analysis by the Institute for Public Policy Research (IPPR) shows the cost of staff sickness has grown by £30bn a year to £103bn in 2023. The annual bill was £73bn in 2018, its study found. – Guardian.