Market Pulse
London open: FTSE nudges up as WPP, Reckitt gain
London stocks nudged up in early trade on Wednesday, helped along by well-received results from the likes of WPP and Reckitt, but gains were muted as caution crept in ahead of next week’s Budget and amid uncertainty over the US election.
Deutsche Bank swings back to profits in third quarter
Deutsche Bank returned to profitability in the third quarter, it emerged on Wednesday, as it reported a net profit of €1. 46bn, surpassing analyst expectations of €1. 05bn.
Barratt Redrow on track for £90m of synergies
Barratt Redrow highlighted "more stable" market conditions on Wednesday, as it said integration of the two businesses has begun "at pace" and that it expects to deliver cost synergies of at least £90m.
British Land appoints David Walker as CFO
British Land said on Wednesday that it has appointed David Walker as its new chief financial officer, following "a comprehensive search and review of internal and external candidates".
Alpha Group client balances rise, interest rates stable
Alpha Group International updated the market on its client balances and interest rates for the third quarter on Wednesday, which contribute to its net treasury income from client funds.
Reckitt on track despite struggles in US nutrition business
Reckitt Benckiser reported marginal like-for-like net revenue growth of 0. 4% for the first three quarters of 2024 on Wednesday, though it faced a slight decline of 0. 5% in the third quarter.
Diversified Energy inks Gulf Coast natural gas supply contract
Diversified Energy Company announced a new natural gas supply contract with a major Gulf Coast liquefied natural gas (LNG) facility on Wednesday.
Franchise Brands appoints group CEO, considers main market move
Franchise Brands announced the appointment of Peter Molloy as its first group chief executive officer with immediate effect on Wednesday.
London pre-open: Stocks to edge down; gold continues to shine
London stocks were set to fall a little at the open on Wednesday, having closed a touch lower a day earlier, while gold prices continued to shine.
Wednesday newspaper round-up: Water companies, Sellafield, EY
Hundreds of millions of pounds of local transport funding in England could be cut in next week’s spending review despite having been agreed with regional mayors, putting bus, tube and tram improvements at risk. The mayors, most of whom are Labour, are engaged in a last-minute lobbying campaign to stop the Treasury raiding their transport budgets as Rachel Reeves looks for immediate savings. – Guardian.