News And Announcements
RBC Capital downgrades Rio Tinto to 'underperform''
RBC Capital Markets downgraded Rio Tinto to 'underperform' from 'sector perform' and cut the price target to 3,400p from 3,900p as it said the stock was unlikely to be able to hang on to its current 64% premium to sector valuations.
GSK bets $300m on tie-up with gene-tester 23andMe
GlaxoSmithKline has invested $300m (£228m) in 23andMe, a Silicon Valley gene-testing company, as the UK drugs giant looks to genetics to improve growth in its pharmaceuticals division.
Capco makes 'active start' to year
Capital & Counties Properties issued its interim results for the six months ended 30 June on Wednesday, reporting equity attributable to owners of the parent of £2. 8bn, in line with December’s figure.
Joules annual sales and profit rise as expansion pays off
Clothing retailer Joules posted a jump in annual profit and revenue on Wednesday as it reaped the benefits of its UK and international expansion.
Tullow Oil founder bows out after swing to first-half profit
Tullow Oil turned in a profit from the first half of its trading year, a considerable turnaround from the loss of $557. 9m reported in the same period a year earlier.
Informa ups UBM cost-cut target as profit rises
Informa increased its target for cost cuts from the acquisition of UBM as the events organiser reported higher first-half profit and revenue growth ahead of expectations.
Victrex 'comfortable' with full-year expectations as it warns of tougher Q4
Plastics supplier Victrex said third quarter revenue rose 10% to £84m but warned of a tougher final three months as it forecast no sales volumes from a large consumer electronics order and currency headwinds.
Brewin Dolphin Q3 income hits record £84.2m
Wealth manager Brewin Dolphin said total third quarter income hit a record £84. 2m driven by continued strong organic growth in discretionary funds.
Wizz Air pins blame on air traffic disruption as Q1 profit drops 14%
Wizz Air shares hit turbulence on Wednesday after the low-cost carrier posted a 14% drop in first-quarter profit as it took a hit from air traffic disruptions and the timing of Easter.
Qinetiq says trading in line; no changes to FY expectations
Defence contractor Qinetiq said first quarter trading was in line with expectations and it expected no changes to full year forecasts.
FCA may force banks to pay minimum savings rate
The Financial Conduct Authority has proposed forcing banks to pay a minimum rate of interest on cash savings to stop companies taking advantage of customers.
Gavin Tipper confirmed as RDI's new chairman
RDI REIT confirmed the appointment of Gavin Tipper as its new chairman on Wednesday, effective immediately, following the announcement on 15 December in which Greg Clarke advised of his intention to step down as chairman of the board.
IP Group describes first half performance as 'robust'
Intellectual property-based business developer IP Group announced its half-yearly results for the six months ended 30 June on Wednesday, reporting net portfolio gains of £0. 7m, down from £28. 7m at the same time last year.
Rathbone Brothers pleased with first half growth
Rathbone Brothers issued its half-year report on Wednesday morning, revealing an 11. 5% improvement in underlying profit before to £48. 3m.
DS Smith announces results of three-for-11 rights issue
DS Smith announced on Wednesday that the three-for-11 rights issue of 293,068,454 new ordinary shares, at 350p each as announced on 19 June, closed for acceptances at 1100 BST on 24 July.
Fresnillo Q2 silver production gets boost from San Julian
Fresnillo said second quarter silver production rose 5. 7% to 15. 34m ounces, including Silverstream, mainly due to the start up of operations at San Julian.
ITV targets consumers under new boss McCall
ITV unveiled a plan to focus on production and sell more to consumers as the Love Island broadcaster announced a reduction in first-half earnings caused by the cost of the FIFA World Cup.
Metro Bank raises £303m in placing, posts four-fold increase in H1 profit
Metro Bank said on Wednesday that it has raised gross proceeds of around £303m in a share placing to support its growth and replace liquidity used for its acquisition of a UK mortgage book in March.
Croda posts small rise in interim profit, lifts dividend
Speciality chemical company Croda posted a small rise in reported half-year profit on Wednesday as sales dipped on the back of a stronger pound.
Antofagasta Q2 copper production up 6% as cash costs fall
Antofagasta said second quarter copper production rose 6. 1% to 163,200 tonnes compared with the previous three months and expected it to increase throughout the year as grades improve.