Market Pulse
London close: Stocks finish higher ahead of US Fed
London stocks closed higher on Tuesday as investors focused on the start of the US Federal Reserve's two-day policy meeting, where a rate cut was widely anticipated.
FTSE 100 movers: Kingfisher jumps on results; Compass loses its way
London’s FTSE 100 was up 0. 3% at 8,299. 91 in afternoon trade on Tuesday.
Physiomics secures new contract from existing pharma client
Physiomics, a specialist in mathematical modelling and data science for drug development and personalised medicine, announced on Tuesday that it has secured a new contract worth £65,000 from an existing large pharmaceutical client.
RBC Capital downgrades Compass to ‘sector perform’
RBC Capital Markets downgraded Compass Group on Tuesday to ‘sector perform’ from ‘outperform’ as shares are now trading ahead of its unchanged price target of 2,400p.
Franchise Brands confident after solid first-half sales
Multi-brand franchise business Franchise Brands announced robust interim results for the six months ended 30 June on Tuesday, with a 42% increase in system sales to £206m, marking a record performance across its key divisions despite anticipated moderation in certain sectors.
Learning Technologies revenue falls, earnings rise in first half
Digital learning and talent management specialist Learning Technologies Group said in its half-year results on Tuesday that despite a subdued macroeconomic backdrop affecting overall spending on learning and talent development, it recorded healthy profit growth and strong cash generation.
MediaZest secures £0.5m in new business
MediaZest announced on Tuesday that it had secured more than £0. 5m in new business over the last two months.
Fintel FY EBITDA seen ‘marginally lower’ due to additional staff costs
Fintel warned on Tuesday that full-year earnings would likely be "marginally" lower than expected due to additional staff costs in the second half.
BP Marsh flags strong half-year trading performance
Financial services investor BP Marsh announced a strong trading performance for the six months ended 31 July in an update on Tuesday.
London midday: Stocks maintain gains ahead of Fed; Kingfisher rallies
London stocks were still firmly in the black by midday on Tuesday as investors eyed the start of the Federal Reserve’s two-day policy meeting and an expected rate cut.
German investor sentiment deteriorates more than expected - ZEW
German business sentiment deteriorated more than expected in September, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim.
Henry Boot confident despite fall in first-half profits
Henry Boot, a UK-based company specialising in land promotion, property investment and development, and construction, reported strong land and property sales in its interim results on Tuesday, although its profitability declined.
Headlam swings to first-half loss, pushes recovery outlook back
Floorcoverings distributor Headlam Group reported an underlying operating loss of £13. 1m for the first half on Tuesday, swinging from an £8. 2m profit in the same period last year.
Asia report: Markets mixed as investors look to Fed meeting
Asia-Pacific stock markets delivered a mixed performance on Tuesday, with Japan's Nikkei 225 leading declines amid a strengthening yen.
Next 15 reports flat revenue in tough first half
Next 15 Group, a tech and data-driven growth consultancy, reported flat group net revenue in its first half on Tuesday, at £286. 8m, with statutory revenue unchanged at £364. 1m.
JPMorgan upgrades Auction Technology to ‘overweight’
JPMorgan Cazenove upgraded Auction Technology on Tuesday to ‘overweight’ from neutral’ as it argued the shares are overly discounting earnings risk into 2025.
JTC shares slide despite solid first-half results
JTC, a global provider of fund, corporate, and private client services, saw its shares slide on Tuesday morning, even after it announced robust interim results for the six months ended 30 June.
Urban Logistics refinances £151m facility, acquires four assets
Urban Logistics REIT announced the successful refinancing of its £151m debt facility on Tuesday.
Essentra FY profit to miss market expectations
Essentra warned on Tuesday that full-year adjusted operating profit would be below market expectations, pinning the blame partly on softer market conditions in Europe in August and into September.
Microsoft announces $60bn buyback, hikes dividend
Microsoft announced the launch of a share buyback of up to $60bn late on Monday, as it hiked its quarterly dividend.