Market Pulse
Hugo Boss reaffirms 2024 guidance, Asia challenges linger
Hugo Boss reaffirmed its full-year guidance for 2024 after reporting modest revenue growth in the third quarter, with a 1% increase year-to-date, although challenges in the luxury market meant it was unlikely to meet its 2025 targets.
AstraZeneca says does not comment on media reports as shares slump
AstraZeneca said on Tuesday that it does not comment on speculative media reports, in response to a sharp drop in its share price.
Nintendo lowers forecasts amid diminishing Switch sales
Nintendo lowered its profit and sales forecasts for the year ending next March on Tuesday, reflecting diminishing demand for its seven-year-old Switch console.
London close: Stocks turn negative as Americans head to the polls
London stocks closed lower on Tuesday, with caution dominating markets as US voters headed to the presidential polls.
FTSE 100 movers: Melrose jumps on Citi note; Schroders tumbles on results
London’s FTSE 100 was down 0. 1% at 8,175. 75 in afternoon trade on Tuesday.
UK water companies rally as Citi, JPM optimistic on outlook
UK water companies were on the rise on Tuesday as Citi and JPMorgan Cazenove struck a positive note on the outlook ahead of Ofwat’s Final Determinations next month.
Melrose Industries rallies as Citi remains 'high conviction' in the buy case
Melrose Industries shot higher on Tuesday as Citi said it remains "high conviction" in the ‘buy’ case, given the trough multiple and the strong mid-term cash outlook.
Vestas Wind Systems shares tumble on Q3 profit miss
Shares in Vestas Wind Systems were tumbling on Tuesday, after it reported third-quarter revenue of €5. 2bn, up 18. 9% increase year-on-year, with a core operating profit of €235m, far short of the expected €352m.
Boeing workers agree pay deal, end strike
Boeing’s workforce ended a 53-day strike on Tuesday, after voting to accept a new labour agreement that included a 38% pay increase over four years and improved retirement contributions.
Sosandar signs licensing agreement with Next for homeware range
AIM-listed fashion brand Sosandar said on Tuesday that it has signed a licensing agreement with Next for a homeware range.
NatWest strikes £11bn deal to offload pension payments to Rothesay
NatWest Group has struck what is thought to be the UK's biggest-ever deal to outsource pension payments to a specialist insurance company.
Whitbread kicks off search for chair Crozier’s successor - report
Premier Inn owner Whitbread has reportedly kicked off the search for a successor to chairman Adam Crozier and is working with Russell Reynolds Associates.
RBC Capital adds 'speculative risk' qualifier to Close Brothers rating
RBC Capital Markets cut its price target on shares of Close Brothers on Tuesday to 425p from 435p and added a "speculative risk" qualifier to its rating as it assessed the impact of premium finance.
London midday: FTSE higher but gains muted ahead of US election
London stocks had pushed a little higher by midday on Tuesday, but gains were unspectacular as investors erred on the side of caution as Americans headed to the polls.
Asia report: Markets mixed as investors eye US election
Asia-Pacific markets closed in a mixed state on Tuesday as investors cautiously navigated global uncertainties surrounding the US presidential election and a potential interest rate decision by the Federal Reserve later in the week.
Hilton Food hails strength across all geographies, says Q3 in line
Hilton Food said on Tuesday that it traded in line with management expectations in the third quarter, as it hailed a continued strong performance across all three geographical operating regions.
Balfour Beatty secures Texas highway upgrade contract
Balfour Beatty announced on Tuesday that it has secured a $746m (£575m) contract from the Texas Department of Transportation to rebuild a section of Interstate 35 through Austin.
IWG revenue growth underpinned by managed and franchised segment
International Workplace Group reported a 2% year-on-year revenue increase on a constant currency basis for the third quarter on Tuesday, alongside robust expansion in its managed and franchised segment, which achieved a 19% revenue rise.
TI Fluid Systems revenue falls in third quarter
TI Fluid Systems reported a 2. 9% decline in revenue at constant currency for the first nine months of the year on Tuesday, citing reduced market volumes and economic headwinds in the third quarter, which alone saw a revenue drop of 5. 9%.
RBA holds rates as inflationary pressures persist
The Reserve Bank of Australia (RBA) held its cash rate steady at 4. 35% for an eighth consecutive meeting on Tuesday, maintaining restrictive monetary policy as it continued to battle persistently high inflation.