Market Pulse
Saudi Aramco to return $124bn to shareholders in FY24
State-owned petroleum and natural gas company Saudi Aramco will return more than $120. 0bn to shareholders in FY24 following a "market-leading performance" during H1.
JPMorgan hikes price target on Rolls-Royce
Rolls-Royce rallied on Tuesday as JPMorgan Cazenove hiked its price target on the stock to 535p from 475p "after another set of strong results".
Renewi reports 3pc rise in quarterly revenue, earnings
Waste-to-product specialist Renewi reported a 3% year-on-year increase in revenue to €434. 4m for its first quarter on Tuesday, driven by higher core volumes and input prices across its commercial waste and specialities divisions.
Rotork delivers 'strong' H1 performance, reiterates FY guidance
Industrial flow control equipment manufacturer Rotork said on Tuesday that it had delivered a "strong H1 performance" as it reiterated its FY24 guidance.
UK construction sector grows at fastest pace since May 2022
Activity in the UK construction sector grew in July at the fastest pace in 26 months, according to a survey released on Tuesday.
Keller sees full year 'materially ahead' of market views
Keller surged on Tuesday as it said its full-year performance was set to be "materially ahead" of current market expectations after a strong first half.
Pawnbroker Ramsdens lifts FY profit expectations
Pawnbroker Ramsdens lifted its full-year pre-tax profit expectations on Tuesday as it said good trading momentum had continued into the second half.
SIG first-half revenue slips as tough markets linger
SIG reported a decline in first-half revenue in its interim results on Tuesday, reflecting difficult trading conditions across key markets.
Domino's sees FY profit at lower end of market expectations
Domino’s Pizza warned on Tuesday that full-year profit would be towards the lower end of the current range of market expectations after a slower start to the first half.
Morgan Advanced Materials still cautious after first-half growth
Morgan Advanced Materials has reported a robust set of half-year results on Tuesday, with a 3. 4% increase in revenue to £572. 6m and a 42. 6% surge in group adjusted operating profit, which reached £71. 3m.
Rightmove parts ways with OpenRent, reiterates FY guidance
Online real estate portal operator Rightmove parted way with lettings platform OpenRent on Tuesday but assured investors that its FY24 trading performance would not be affected.
Ofwat slaps UK water firms with fines over historic sewage spills
Thames Water, Yorkshire Water and Northumbrian Water were all the subjects of Ofwat's ire on Tuesday as the water regulator looks to clean up the industry amid historic sewage spills.
Spirent Communications swings to loss in first half
Spirent Communications said on Tuesday that it swung to a loss in the first half as revenue fell amid challenging trading conditions.
London open: Stocks bounce back; IHG rallies on results
London stocks rose in early trade on Tuesday, bouncing back from a heavy selloff the day earlier which saw global markets plunge.
Travis Perkins cuts full-year profit outlook
Travis Perkins posted a drop in first-half profit on Tuesday as it pointed to continued weak demand across its end markets and cut its profit outlook for the full year.
Illinois court rules in GSK's favour in Zantac case
GSK was upbeat after securing a legal victory in a case in the ongoing litigation surrounding its discontinued heartburn drug Zantac.
London pre-open: Stocks to bounce back after heavy losses
London stocks were set to rebound at the open on Tuesday following a heavy selloff in the previous session amid a global market meltdown.
Tuesday newspaper round-up: Retail sales, Google, Warren Buffett
The late arrival of warm summer weather drove a recovery in retail sales last month, industry data shows, despite continuing signs of consumers holding back on big ticket purchases amid the cost of living crisis. Figures from the British Retail Consortium showed that UK total retail sales increased by 0. 5% year on year in July, a recovery from the washout month of June when colder weather deterred shoppers from spending on the high street. – Guardian.