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Wednesday newspaper round-up: Petrol prices, Amazon, DeepMind
Nearly two-thirds of UK manufacturers expect to raise their prices in the run-up to Christmas after being hit by mounting cost pressures, a leading employers’ group has said. The British Chambers of Commerce said inflation expectations had risen to their highest since its records began at the end of the 1980s, with 62% of industrial firms planning price hikes over the next three months. - Guardian.
London midday: FTSE sinks as inflation concerns, construction reading weigh
London stocks were firmly in the red by midday on Wednesday as inflation concerns grew amid surging oil and gas prices, and as investors mulled a disappointing reading on the UK construction sector.
PageGroup upgrades FY operating profit guidance
Recruiter PageGroup lifted its guidance for full-year operating profit on Wednesday as it reported a jump in third-quarter gross profit.
FTSE 250 movers: IP Group in the red; PageGroup gains after update
London’s FTSE 250 was down 1. 3% at 22,441. 52 in afternoon trade on Wednesday.
FTSE 100 movers: Tesco rallies after results; Imperial Brands falls
London’s FTSE 100 was down 1% at 7,007. 99 in afternoon trade on Wednesday.
Boston Scientific to buy Baylis Medical for $1.75bn
Boston Scientific has agreed to buy Baylis Medical for $1. 75bn as it looks to expand its electrophysiology and structural heart product portfolios.
Davy starts Moonpig at 'neutral', says valuation full
Moonpig was under the cosh on Wednesday as Davy initiated coverage on shares of the online greeting card retailer at ‘neutral’, with a 345p price target.
Galliford Try appointed to £1.6bn public sector framework
Construction group Galliford Try said on Wednesday that its building business has been appointed to the new £1. 6bn LHC Public Buildings, Construction, and Infrastructure PB3 framework.
RBC Capital downgrades Close Brothers on full valuation
RBC Capital Markets downgraded Close Brothers to ‘sector perform’ from ‘outperform’ on Wednesday, cutting the price target to 1,700p from 1,800p as it said the valuation looks relatively full.
IP Group CEO, CIO step down after Oxford Nanopore IPO
IP Group said on Wednesday that chief executive Alan Aubrey and chief investment officer Mike Townend are retiring and stepping down from the board with immediate effect following the successful flotation of its largest holding, Oxford Nanopore Technologies.
London open: Stocks slide amid inflation concerns
London stocks slid in early trade on Wednesday as concerns about inflation dented sentiment amid surging oil and gas prices, with all eyes on the US ADP employment report.
Imperial Brands on track to meet FY expectations
Imperial Brands said on Wednesday that it was on track to meet full-year expectations as the business continues to perform well and losses were reduced in Next Generation Products (NGPs).
German factory orders tumble amid supply chain issues
German factory orders slid in August amid supply chain issues, according to figures released on Wednesday by Destatis.
London pre-open: Stocks seen lower ahead of construction PMI
London stocks were set to fall at the open on Wednesday after healthy gains in the previous session, following a mostly downbeat session in Asia, ahead of the release of UK construction data.