Market Report
Asia report: Another US rally fails to spark regional markets
Asia-Pacific markets experienced widespread declines on Tuesday, as investor caution lingered despite a strong rally in US stocks, where key benchmarks closed at record highs following last week’s election results.
Jefferies downgrades Direct Line to ‘hold’
Jefferies downgraded Direct Line on Tuesday to ‘hold’ from ‘buy’ and cut the price target to 165p from 235p.
Raspberry Pi strikes strategic partnership with Italy's SECO
Single-board computer designer Raspberry Pi has inked a strategic partnership with Italian internet-of-things solutions business SECO ahead of the launch of its Compute Module 5 product.
Diversified Energy reports Q3 net loss of $1m
Gas and oil production company Diversified Energy reported a net loss of $1. 0m for the three months ended 30 September amid a continued focus on debt repayments and additional undeveloped land sales.
Drax FY underlying profits set to top £1bn
Power generation business Drax said on Tuesday that full-year profits looked set to top £1. 0bn on the back of a strong performance from its electricity and pellet business.
Marks Electrical reports growth, but 'leaned too far' into lower-margin products
Marks Electrical Group reported a solid first-half performance on Tuesday, with revenue rising 9. 3% to £58. 8m, driven by 13% volume growth in major domestic appliances and a more-than-90% increase in consumer electronics volumes, though it was impacted by a shift towards lower-margin non-premium products.
Bayer cuts earnings outlook, shares tumble
Bayer shares tumbled on Tuesday as it cut its full-year earnings guidance.
Cake Box upbeat after strong first half
Cake Box reported a strong first-half performance on Tuesday, with revenue increasing 4. 3% to £18. 7m, supported by positive momentum in franchise store sales and expanding online demand.
Europe open: Shares fall as US-driven rally ends; Bayer slumps
European shares fell sharply at the open, giving up gains driven by a post-US election bounce that drove tech stocks higher amid optimism the new administration would bring in business-friendly policies.
London open: Stocks fall as investors mull jobs data; Convatec surges
London stocks fell in early trade on Tuesday as data revealed an uptick in unemployment and a cooling in wage growth, and as investors sifted through a raft of corporate releases.
Renewi reports 'tangible progress' in first half
Renewi reported a solid first-half performance on Tuesday, with revenue from continuing operations up 4% to €874. 5m, driven by strong pricing in its commercial waste division and significant growth in specialities.
4Imprint confident after US election cycle 'distraction'
4imprint Group reported a robust performance for the 10 months through October in an update on Tuesday, achieving revenue growth and maintaining profitability in a challenging North American market.
Vodafone reiterates guidance after first-half revenue growth
Vodafone Group reported a 1. 6% rise in total revenue to €18. 3bn for the first half of its financial year on Tuesday, with service revenue growing 1. 7% to €15. 1bn.
Oxford Instruments confident despite some market softness
Oxford Instruments reported first-half revenue growth and strategic progress on Tuesday, recording a 10. 4% increase in revenue at constant currency to £225. 8m, supported by strong performance in North America and Asia outside of China.
FCA fines Metro Bank £16.7m for anti-money laundering failings
The Financial Conduct Authority said on Tuesday that it has fined Metro Bank £16. 7m for failing to have the right controls in place to combat money laundering.
Bank of Georgia confident after strong third quarter, election fallout
Bank of Georgia Group reported a strong third-quarter financial performance on Tuesday, with consolidated profit for the period rising by 42. 5% year-on-year to GEL 509. 3m (£145. 29m), reflecting a return on average equity of 32. 1%.
Fresnillo partner flags problems at Silverstream mineral source
Fresnillo announced on Tuesday that Industrias Peñoles, its partner in a long-standing silver production agreement, had notified it of operational issues affecting the Sabinas mine, fully owned by Peñoles.
AstraZeneca upgrades full-year guidance amid strong momentum
AstraZeneca upgraded its full-year revenue and earnings per share guidance on Tuesday, citing strong growth across key therapy areas and robust financial results for the first nine months of the year.
UK unemployment rate ticks up, wage growth slows
UK unemployment ticked higher in the three months to September, while wage growth slowed, according to figures released on Tuesday by the Office for National Statistics.
London pre-open: Stocks seen lower as investors mull jobs data
London stocks were set to fall at the open on Tuesday following a weak session in Asia, as investors mulled the latest UK jobs data.