Market Report
London open: Stocks flat as investors eye BoE rate announcement
London stocks were steady in early trade as investors refrained from making any bold moves ahead of the Bank of England's latest policy announcement and quarterly inflation report, and the release of some key manufacturing data.
Derwent London trades well in first quarter
Derwent London posted a first quarter trading update on Thursday, reporting that in 2017 to date it had let or pre-let 260,100 square feet, achieving rents of £17. 0m per annum.
Brewin Dolphin completes purchase of Duncan Lawrie
Brewin Dolphin confirmed the completion of its acquisition of Duncan Lawrie Asset Management on Thursday, having initially announced the acquisition on 19 December.
Europe open: All eyes on BoE rate decision, MPC vote count
European stocks are trading on a mixed note, with investors expected to focus on an interest rate decision from the Bank of England at noon in an otherwise light day in terms of economic events.
3i Infrastructure meets growth targets in 2017 year
3i Infrastructure posted its results for the year to 31 March on Thursday, reporting a total return on its opening net asset value of 9. 4%, for a net asset value per share of 169p.
BT axes board bonuses and 4,000 jobs to cut costs as profits plunge
BT Group has reported a big decline in annual profits, as expected, and announced it was stepping up its cost cutting programme by axeing 4,000 jobs, while also revealing it was trimming executive pay after a challenging year.
Rathbone Brothers FuM up 4.7% in Q1
Rathbone Brothers reported a rise in total funds under management for the 1 January to the end of March, citing strong investment markets.
Coca-Cola HBC serves up effervescent first quarter results
Switzerland-based Coca-Cola HBC, the world’s second largest anchor bottler of Coca-Cola products, issued its first quarter trading update on Thursday morning, reporting “good progress” on FX-neutral revenue growth, which was up 5. 2%.
Unite hails strong lettings performance
Unite Group said on Thursday that its business continues to perform strongly in 2017, with good levels of demand from students from the UK, the EU and other international students.
SIG revenues up, says H1 performance to be weaker than last year
FTSE 250 building products distributor SIG posted a rise in revenue for the period from 1 January to the end of April but said it expects its first half performance to be lower than that achieved in the same period a year ago.
Beazley gross written premiums drop 2%
Insurer Beazley reported a 2% drop in gross premiums written in the three months to the end of March.
Thursday newspaper round-up: RICS, Sky-21st Century Fox, AkzoNobel
The UK housing market is continuing to slow down, with falling property sales, “stagnant” buyer demand and general election uncertainty all adding up to one of the most downbeat reports issued by surveyors since the financial crash. In its latest monthly snapshot of the market, the Royal Institution of Chartered Surveyors (Rics) said momentum was “continuing to ebb,” with no sign of change in the near future. – Guardian.
London pre-open: Stocks to nudge lower ahead of BoE announcement
London stocks were set to nudge a little lower at the open as investors eye the Bank of England's latest policy announcement and quarterly inflation report, and the release of some key manufacturing data.