Market Report
EasyJet interim losses surge as currency, Easter, Brexit costs weigh
EasyJet flew a record number of passengers in the first six months of its financial year and moved to secured its post-Brexit future, though reported a much bigger loss as revenue per seat fell and costs per seat rose.
Premier Foods sales and profit drop in 'challenging' year
Premier Foods reported a drop in sales and profit for the year to 1 April on Tuesday as it highlighted a "challenging" year and said it was changing its strategy to focus more on cost efficiencies and cash generation.
London open: Stocks little changed ahead of inflation data; easyJet hits turbulence
London stocks were little changed in early trade as investors sifted through results from the likes of Vodafone and easyJet and awaited some key UK inflation data.
CYBG makes strong start to 2017
Holding company for Clydesdale Bank and Yorkshire Bank, CYBG, posted its interim results for the six months to 31 March on Tuesday, reporting a “stable” net interest margin at 226bps, which it said reflected “active” margin management against a backdrop of a competitive market.
Anglo American says rough diamond sentiment remains steady
Anglo American saw a fall in rough diamond sales value from De Beers' fourth sales cycle of 2017, though the company was encouraged that demand remained at a steady level.
Speedy Hire returns to profit as turnaround plan bears fruit
Equipment and plant hire services company Speedy Hire returned to profit in the year to the end of March 2017 as revenue grew and the turnaround plan bore fruit.
Wood Group wins Brent Bravo decommissioning contract
Energy services company Wood Group has been awarded a contract to support Shell in the decommissioning of its Brent Bravo platform in the North Sea.
Tuesday newspaper round-up: Sterling, renewables, Microsoft, fund charges
Sterling is close to crossing back above $1. 30 for the first time since September as investors cut their short positions amid hopes that a hard Brexit is less likely and ahead of an expected surge in inflation. There are now fewer short positions against the pound than at any time since July last year, a month after the Brexit vote, with sterling’s rebound also making it more viable for companies to take out hedges to manage their currency risk. - The Times.
Vodafone dials in improved revenue, adjusted earnings
Mobile-focussed telco Vodafone Group posted its results for the year to 31 March on Tuesday, with group total revenue down 4. 4% to €47. 6bn, while full year organic service revenue grew 1. 9%.
Inmarsat launches fourth GX satellite with SpaceX rocket
Using a SpaceX rocket, Inmarsat has successfully launched the fourth satellite of its Global Xpress high-speed broadband programme, allowing the company to offer guaranteed global connectivity worldwide.
Inchcape wins distribution contract with Groupe PSA in Australia
FTSE 250 car dealership Inchcape has won a contract with Groupe PSA in Australia to distribute its Peugeot and Citroen brands.
Crest Nicholson on track for 10% FY revenue growth
FTSE 250 housebuilder Crest Nicholson said on Tuesday that trading remains in line with expectations and it's on track to deliver revenue growth of around 10% for the year to the end of October 2017.
London pre-open: Stocks seen muted as investors eye inflation data
London stocks were set for a muted open on Tuesday after closing at a fresh record high the day before, as investors await the release of key UK inflation data.