Market Report
N Brown chairman Higginson steps down
Andrew Higginson is stepping down as chairman from clothing retailer N Brown after five years in order to pursue opportunities in private equity.
Intercede launches projects with VMWare, Imagination
Digital identity, credential management and secure mobility specialist Intercede announced on Tuesday that it was collaborating with VMWare and Imagination on two “separate, significant” projects utilising Intercede's MyID and MyTAM software.
Punch Taverns-Heineken deal could be probed by CMA
Punch Taverns' sale of around 1,900 pubs to Heineken could be investigated by UK financial authorities unless the pair propose a solution to reduce the potential loss of competition in certain areas.
Legal & General reports 'strong start' to year
As investors and analysts gathered in London for Legal & General’s capital markets event on Tuesday morning, the company also updated the market on its year-to-date, saying it had a “strong start” having completed more than £1bn of bulk annuity sales.
London open: Stocks, sterling nudge higher ahead of inflation data
London stocks and sterling nudged higher in early trade on Tuesday as investors eyed the release of key inflation data.
Europe open: Stocks recover their poise ahead of central bank decisions
Markets bounced back at the start of the session, with investors apparently recovering their calm following Monday's sharp drop in technology stocks and ahead of the US central bank's policy announcement due the next day.
Tuesday newspaper round-up: 'Credit impulse', soft Brexit, end of austerity
The global ‘credit impulse’ has fallen as dramatically over recent months as it did during the onset of the Lehman crisis, signalling serious headwinds for the world economy and asset prices just as the US Federal Reserve tightens monetary policy. A key UBS tracking indicator shows that the impulse has plummeted by 6pc of GDP since peaking last year, driven by powerful swings in China and the US. - Telegraph.
Halma full-year profit jumps 17%
Health and safety technology group Halma posted a jump in full-year revenue and profit, thanks in part to acquisitions.
Telecom Plus earnings up despite dip in revenue
Low-cost multi-utility retailer Telecom Plus - which trades under the brand name Utility Warehouse - announced its final results for the year to 31 March on Tuesday, confirming its results and the dividend were in line with expectations.
Ted Baker revenue rises; on course to deliver on FY expectations
Fashion retailer Ted Baker reported a 14. 2% rise in revenue for the 19 weeks to 10 June as it presses ahead with its global expansion, with openings in Los Angeles, Paris, and Shanghai.
Spire's Garry Watts undergoing major medical treatment
Independent hospital operator Spire Healthcare Group announced on Tuesday that current executive chairman Garry Watts had been diagnosed with an unspecified medical condition, and was currently undergoing treatment which could require him to need some time out of the business in the coming months.
Crest Nicholson H1 profits rise, but cautions over UK election
FTSE 250 housebuilder Crest Nicholson reported a rise in profit and revenue for the half year and said it is on track to deliver full-year revenue growth, but cautioned that the UK election could bring about uncertainty.
Merlin trading in line so far, though tourist outlook uncertain
Investors in visitor attraction operator Merlin Entertainments were set to muster for the company’s annual general meeting on Tuesday, with the board confirming group trading for the year to date had been “broadly” in line with expectations, reflecting the outlook and commentary it provided on 2 March.
Acacia claims it's still operating Tanzanian mines, Ashtead to hike dividend by almost a quarter
London open.
London pre-open: Stocks seen higher ahead of inflation data
London stocks were set for a positive open on Tuesday, shrugging off another downbeat session in the US which saw technology shares hit again, as investors eyed the release of key inflation data, with politics still firmly in focus.
US close: Markets end lower as tech stocks remain at fore
Wall Street's main market gauges were slightly lower at the start of the week on follow-through selling in the tech space.