Market Report
JPMorgan reiterates ‘overweight’ on Just Group, lifts price target
JPMorgan Cazenove reiterated its ‘overweight’ rating on Just Group on Tuesday and lifted the price target to 200p from 190p after it completed a £1. 8bn full buy-in with the Trustee of the G4S Pension Scheme, covering the benefits of around 22,500 members.
Berenberg lowers target price on Judges Scientific
Analysts at Berenberg lowered their target price on scientific instruments business Judges Scientific from 12,400. 0p to 11,310. 0p on Tuesday, stating the group was approaching a "trough cycle".
RBC Capital starts Sainsbury’s at ‘outperform’, Tesco at ‘sector perform’
RBC Capital Markets initiated coverage on Sainsbury’s and Tesco on Tuesday, saying it sees "attractive" growth prospects for the two major UK listed grocery retailers.
Gear4Music H1 operating losses narrow
Music equipment retailer Gear4music said on Tuesday that operating losses had narrowed in the six months ended 30 September on the back of its latest growth strategy.
Asia report: Markets rise after Wall Street tech rally
Asia-Pacific markets posted gains on Tuesday as investors evaluated comments from Chinese policymakers at an investment summit in Hong Kong.
Revolution Beauty swings to loss as revenue slides
Revolution Beauty said on Tuesday that it swung to a loss in the first half as revenue slumped but also hailed good progress with its cost savings programme.
Mulberry to 'streamline operations' as losses widen
Luxury handbag maker Mulberry said on Tuesday that it was taking steps to "streamline operations" as it reported a 19% drop in first-half revenue and a widening of its losses, pointing to a "difficult" trading environment.
Avon Technologies reports solid set of preliminary results
Avon Technologies reported a robust set of preliminary results on Tuesday, with received orders surging 40. 9% year-on-year to $364. 4m, driving a record closing order book of $225. 2m, up 65. 8%, and providing strong visibility into the 2025 financial year and beyond.
Victoria offloads Turkish subsidiary Graniser in £31m deal
Flooring specialist Victoria announced the sale of its Turkish ceramic tile subsidiary Graniser on Tuesday, for total consideration of €36. 8m (£30. 9m).
Genuit YTD revenues down amid 'subdued' conditions
Plastic piping manufacturer Genuit said on Tuesday that it has delivered a "resilient performance" year-to-date, despite operating in "subdued market conditions".
Nestle takes wraps off CHF 2.5bn cost-cutting plan
Nestlé unveiled an ambitious cost-cutting initiative and reduced its profit outlook on Tuesday, as new chief executive Laurent Freixe charted a turnaround strategy for the world’s largest food company.
GSK's linerixibat meets primary endpoint
Drugmaker GSK said on Tuesday that its linerixibat candidate had shown "positive" Phase III results in cholestatic pruritus in primary biliary cholangitis.
Diploma revenue, profits rise amid 'tougher environment'
Controls, seals, and life sciences distributor Diploma reported a 14% rise in revenue in its preliminary results on Tuesday, to £1. 36bn, as adjusted operating profit increased 20% to £285m.
London open: Imperial Brands leads gains after results
London stocks rose in early trade on Tuesday, with Imperial Brands leading the gains after well-received results.
Petershill Partners reports solid third-quarter performance
Petershill Partners, a global investor in alternative asset managers, reported a solid third-quarter performance in an update on Tuesday, supported by strong partner fee-related earnings (FRE) and significant capital returns.
Europe open: Stoxx up as investors eye EZ data, Nvidia earnings
European shares were higher at the open after an upbeat session in Asia with eyes on a eurozone final October inflation reading later in the day and more corporate earnings.
Thyssenkrupp writes down EUR 1bn from steel business
Thyssenkrupp announced a €1bn writedown on its steel division on Tuesday, as the company navigated a costly transition to low-carbon production.
Vesuvius confident despite weaker market conditions
Molten metal flow engineering specialist Vesuvius said in a trading update on Tuesday that it anticipated trading profit for the 2024 financial year to be slightly below 2023 levels on a constant currency basis, maintaining a return on sales margin of around 10. 2%.
Bodycote sees FY operating profit in line despite 'challenging' end markets
Bodycote said on Tuesday that full-year operating profit was set to be in line with market expectations as it hailed a "resilient performance in challenging end markets".
London pre-open: Stocks seen up on positive US, Asian cues
London stocks were set to gain at the open on Tuesday following a positive session in Asia and a mostly higher close on Wall Street.