Market Report
Nedbank suffering in weaker South African economy, says Old Mutual
Old Mutual issued an update on the performance of its South Africa banking unit Nedbank Group for the three months to 31 March on Thursday, saying the firm’s managed operations continued to produce a “solid performance” during the period.
National Grid generates solid profit improvement
Energy network operator National Grid posted its final results for the year to 31 March on Thursday, with operating profit up 14% to £4. 67bn on an adjusted basis, and profit before tax improving 13% to £3. 56bn.
Royal Mail full-year profit up 25.5% but sales seen declining
Royal Mail reported a 25. 5% jump in full-year pre-tax profit as revenues nudged higher, although the group did caution that sales in the UK are likely to fall.
Thursday newspaper round-up: VW, Lloyds, May, Hinkley Point
Countries seeking a trade deal with the EU should meet European standards on labour law and fair competition, one of the bloc’s most senior officials has said in remarks that reinforce Brexit red lines. Margrethe Vestager, the EU competition commissioner, described the trade agreement with Canada as a model for the future because it enshrined recognition of labour standards, human rights and animal welfare. – Guardian.
London pre-open: Stocks seen weaker amid concerns about Trump
London stocks were set for a weaker open on Thursday, taking their cue from downbeat sessions in the US and Asia amid growing concerns that US President Trump could be impeached.
US close: Markets slide as Trump turmoil heats up
Fresh allegations of improprieties in the Oval Office finally provoked a response from Wall Street on Wednesday, sending some traders dashing to buy protection from downside risks.