Market Pulse
Asia report: Markets pop as Beijing pledges more economic support
Asia-Pacific markets saw robust gains on Thursday, buoyed by a rally in Chinese stocks following positive signals from Beijing on stimulus measures.
MTI Wireless Edge receives $750k military antenna order
Communication and radio frequency technology specialist MTI Wireless Edge has received an order worth a total of approximately $750,00.
ValiRx pulls out of University of Barcelona collaboration
ValiRx said in an update on Thursday that it has concluded its evaluation project with the University of Barcelona, focussed on early-stage cancer therapeutics targeting the ‘KRAS2’ series of drug candidates.
Ten Lifestyle trades in line with FY expectations, launches fundraiser
Travel and lifestyle concierge business Ten Lifestyle Group said full-year revenue and earnings were expected to be broadly in line with current market expectations and announced both its plans for a new fundraiser and the receipt of a new multi-year contract in the US.
SNB cuts rates by 25 basis points to 1.0%
The Swiss National Bank cut interest rates on Thursday to 1. 0% from 1. 25%, in line with expectations.
UK car production falls 8.4pc in August
UK car production fell by 8. 4% to 41,271 units in August, according to the Society of Motor Manufacturers and Traders, marking both a sixth consecutive monthly decline and the lowest rate of production seen in more than three years.
Future delivers return to organic growth in H2, reiterates FY guidance
Publishing business Future said on Thursday that it had delivered a return to organic revenue growth during H2 and reiterated full-year guidance for revenues of £786. 0m and adjusted operating profits of £220. 0m.
Mercia Asset Management makes positive start to financial year
Mercia Asset Management reported a positive start to the current financial year in an update on Thursday, driven by strong performance across both its equity and debt fund portfolios.
London open: Stocks rise on China stimulus news
London stocks rose in early trade on Thursday, taking their cue from strong gains in Asia after China pledged more measures to boost the economy.
Pantheon Infrastructure NAV rises 6.5pc in first half
Pantheon Infrastructure reported a 6. 5% increase in net asset value (NAV) to £535m for the six months ended 30 June on Thursday, or 113. 9p per share.
Videndum lowers full-year forecasts as film and TV productions remain slow
Videndum, an international provider of premium branded hardware products and software solutions to the content creation market, reported a 7% decline in revenue from continuing operations to £153. 3m for its first half on Thursday, down from £165m a year earlier, as it warned that the full year would be below its previous expectations.
Halma backs FY guidance after progress in first half
Halma backed its guidance for the full year on Thursday as it said further progress was made in the first half in trading conditions "which remain varied across our end markets".
Dar Global swings to net loss as revenue more than halves
Dar Global reported a first-half net loss of $12. 8m on Thursday, contrasting sharply with a profit of $20. 8m during the same period last year.
Life Science REIT reports positive first-half progress
Life Science REIT reported a positive first-half performance on Thursday, driven by development progress and a rebound in the occupier market, which supported earnings growth.
Downing Renewables in exclusive talks to sell Gabrielsberget wind farm
Downing Renewables announced on Thursday that it is in exclusive discussions regarding the sale of its entire interest in the Gabrielsberget wind farm in Sweden.
CVS Group confident despite tough year for UK vet market
Veterinary practice operator CVS Group reported a 9. 9% increase in full-year revenue on Thursday, to £647. 3m, reflecting its ongoing expansion efforts, particularly in Australia.
AstraZeneca's Tagrisso gets new US lung cancer approval
AstraZeneca announced on Thursday that ‘Tagrisso’, or osimertinib, has been approved by the US Food and Drug Administration (FDA) for the treatment of adult patients with unresectable, stage three epidermal growth factor receptor-mutated (EGFRm) non-small cell lung cancer (NSCLC), whose disease had not progressed after platinum-based chemoradiation therapy (CRT).
London pre-open: Stocks seen up after strong Asian gains
London stocks were set to rise at the open on Thursday following strong gains in Asia.
Thursday newspaper round-up: JLR, electric cars, Royal Mail
Rachel Reeves is pushing for the UK’s tax and spending watchdog to upgrade its national growth forecasts to reflect the economic boost Labour says can be achieved from its blitz of planning reforms. In a development that could open up additional spending headroom for the chancellor before next month’s budget, the Treasury has held talks with the Office for Budget Responsibility to try to persuade its officials that unblocking the planning system could drive up growth.