Market Pulse
88 Energy announces increased resource at Project Phoenix
88 Energy reported a major milestone at Project Phoenix in Alaska on Wednesday, announcing a significant increase in contingent resources independently verified by ERCE Australia.
Strix reports decent first half but warns of Q3 weakness
Kettle control and water filtration technology specialist Strix Group reported adjusted revenue of £67. 2m for its first half on Wednesday, marking a 3. 5% increase at constant exchange rates, though it warned of a weaker third-quarter performance.
LBG Media reports solid first-half growth
Young adult-focussed digital entertainment company LBG Media reported a 55% increase in total first-half group revenue on Wednesday, to £42. 3m, up from £27. 3m in the same period last year.
Citi upgrades Hammerson to ‘buy’
Citi upgraded Hammerson to ‘buy’ from ‘neutral’ on Wednesday and lifted the price target to 43p from 26p, saying it was entering a "new positive up cycle".
Asia report: Most markets rise ahead of US Fed decision
Asia-Pacific markets closed mostly higher on Wednesday, with Australia's benchmark extending its multi-day winning streak to reach an all-time high.
Mohsin Issa vacates executive role at Asda
Supermarket chain Asda announced on Wednesday that co-owner Mohsin Issa was stepping back from his executive leadership role to dedicate more time to his position as the sole chief executive officer of petrol station operator EG Group.
Smiths News inks long-term contract renewal with Financial Times
Newspaper distributor Smiths News has inked a long-term contract renewal with the Financial Times.
MJ Gleeson FY profits slide amid planning setbacks
Residential construction group MJ Gleeson said on Wednesday that planning setbacks had resulted in a significant profit decline for the year ended 30 June.
Reckitt said to have started talks on £6bn sale of homecare assets
Reckitt Benckiser has reportedly started early discussions with some of the potential suitors for its homecare assets, which could fetch more than £6bn in a deal.
Xaar swings to loss in challenging first half
Inkjet technology specialist Xaar reported interim revenue of £28. 6m on Wednesday, down from £34. 5m in the same period last year.
Software Circle makes several board changes
Software Circle announced significant changes to its board of directors on Wednesday, as it held its annual general meeting in Manchester.
London open: Stocks edge lower after inflation data, ahead of Fed
London stocks edged lower in early trade on Wednesday as investors mulled the latest UK inflation reading and looked ahead to a policy announcement from the US Federal Reserve.
Moonpig backs FY guidance, says trading in line
Online greeting card and gift retailer Moonpig backed its full-year guidance on Wednesday as it said trading has been in line with expectations.
PZ Cussons reports drop in full-year revenue, profit
Consumer goods company PZ Cussons reported a 10. 6% drop in full-year revenue to £527. 9m on Wednesday, primarily due to the significant devaluation of the Nigerian naira against sterling.
Arkle Resources reports progress across Botswana, Zimbabwe
Arkle Resources announced progress in its lithium exploration activities across Botswana and Zimbabwe in an update on Wednesday.
Inflation unchanged at 2.2% ahead of BoE rate announcement
UK inflation was unchanged in August, according to figures released on Wednesday by the Office for National Statistics, remaining above the Bank of England’s target.
London pre-open: Stocks seen down after inflation data, ahead of Fed
London stocks were set to fall at the open on Wednesday as investors mulled the latest UK inflation reading and looked ahead to a policy announcement from the US Federal Reserve.
Wednesday newspaper round-up: Stellantis, ITV, Philip Morris
Employers who force staff to return to the office five days a week have been called the “dinosaurs of our age” by one of the world’s leading experts who coined the term “presenteeism”. Sir Cary Cooper, a professor of organisational psychology and health at the University of Manchester’s Alliance Manchester Business School, said employers imposing strict requirements on staff to be in the office risked driving away talented workers, damaging the wellbeing of employees and undermining their financial performance.