Market Pulse
Sosandar launches in Arnotts, opens own stores
Women’s brand Sosandar announced a fresh retail expansion on Thursday, including an in-store launch at Ireland’s largest department store Arnotts, and the opening of its first two standalone stores in the UK.
Prospex Energy reports reduced first-half loss
Prospex Energy reported a significantly reduced loss in its interim results on Thursday, announcing that it has fully repaid all outstanding debt, positioning itself for future growth and development.
Norway's central bank holds interest rates steady
Norway's central bank kept interest rates unchanged at a 16-year high of 4. 5% on Thursday but said it intends to launch a rate cutting programme during the first quarter of 2025.
Supreme organic revenue and profits grow in FY24
Consumer goods manufacturer Supreme said on Thursday that it had "traded strongly" across the year ended 31 March, delivering record organic revenue and profit growth and ending the year debt-free.
Close Bros agrees sale of asset management arm, reports solid year
Close Brothers announced an agreement to sell its wealth management subsidiary, Close Brothers Asset Management (CBAM), to funds managed by Oaktree Capital Management, for an equity value of up to £200m on Thursday, alongside a solid set of full-year results.
Berenberg starts coverage of Ashtead at ‘buy’, shares jump
Berenberg initiated coverage of equipment rental firm Ashtead on Thursday with a ‘buy’ rating and 7,000p price target.
James Fisher secures £95m of new bank facilities
Marine engineering services provider James Fisher & Sons said on Thursday that it has secured £95. 0m of new bank facilities, providing it with increased flexibility to operate and reducing overall maintenance costs.
Judges Scientific earnings fall in challenging first half
Judges Scientific, a specialist in acquiring and developing scientific instrument companies, reported a decline in first-half profits on Thursday amid subdued trading conditions and challenging market environments, while it bolstered its shareholder return with a 10% increase in its interim dividend.
S4 Capital maintains profit targets after tough first half
S4 Capital maintained its full-year profit targets in its interim results on Thursday, despite a significant drop in net revenue, as it warned of a bigger-than-expected fall in full year net revenue.
Hill & Smith appoints Rutger Helbing as CEO
Hill & Smith said on Thursday that it has appointed Rutger Helbing as chief executive officer with immediate effect.
London open: FTSE rallies after bumper US rate cut; BoE in focus
London stocks rallied in early trade on Thursday as investors mulled a bumper rate cut from the US Federal Reserve and eyed the latest policy announcement from the Bank of England.
Bytes Technology hails strong first-half trading
Bytes Technology said on Wednesday that trading has remained strong since it updated the market at its annual meeting in July.
London pre-open: Stocks seen up as Fed cuts rate by 50 basis points; BoE eyed
London stocks were set to gain at the open on Thursday after the US Federal Reserve cut rates by 50 basis points and as investors eyed the latest policy announcement from the Bank of England.
Thursday newspaper round-up: Boeing, zero-hours contracts, voluntary insolvencies
Boeing’s CEO said on Wednesday that the company would begin furloughing “a large number” of employees to conserve cash during the strike by union machinists that began last week. The chief executive, Kelly Ortberg, said the layoffs would be temporary and affect executives, managers and other employees. – Guardian.