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Wednesday newspaper round-up: Apple, The Hut Group, Sterling
Apple may slash the number of iPhone 13s it will make this year by up to 10m because of a shortage of computer chips amid a worldwide supply chain crunch that led the White House to warn that “there will be things that people can’t get” at Christmas. Apple was expected to produce 90m units of the new iPhone models this year but has told its manufacturers that the number would be lower because chip suppliers including Broadcom and Texas Instruments were struggling to deliver components, Bloomberg reported on Tuesday.
FTSE 250 movers: Man Group up after Q3 update; Centrica drops
London’s FTSE 250 was up 0. 7% at 22,614. 88 in afternoon trade on Wednesday.
FTSE 100 movers: Housebuilders rally; miners in the red
London’s FTSE 100 was flat at 7,128. 24 in afternoon trade on Wednesday.
THG unaware of reason for 35% share price slump
THG, formerly The Hut Group, said on Wednesday that it was not aware of any reason for the slump in its share price a day earlier.
BofA Merrill Lynch ups M&S to ‘neutral’ after investor event
Bank of America Merrill Lynch upgraded Marks & Spencer to ‘neutral’ from ‘underperform’ on Wednesday following the retailer’s investor event last week.
THG share price collapse "unjustified", says Liberum
Broker Liberum said on Wednesday that the collapse in the THG share price a day earlier was unjustified.
London pre-open: Stocks seen muted as investors mull GDP
London stocks were set for a muted open on Wednesday as investors mull the latest UK GDP reading.
UBS downgrades Informa, shares slump
UBS downgraded its stance on business intelligence and exhibitions group Informa on Wednesday to ‘sell’ from ‘neutral’, saying the travel recovery is likely to be slower than the market expects and that it expects material short-term earnings downgrades.
London midday: Stocks pare losses as housebuilders rally
London stocks had pared earlier losses by midday on Wednesday, helped along by a strong showing in the housebuilding sector, as investors digested the latest UK GDP reading.
HSBC upgrades Britvic to ‘buy’, shares fizz higher
HSBC upgraded shares of drinks maker Britvic to ‘buy’ from ‘hold’ on Wednesday and lifted the price target to 1,050p from 900p on a better outlook.
Halfords appoints Virgin Active exec Jo Hartley as new CFO
Halfords has appointed Jo Hartley as its new chief financial officer, succeeding Loraine Woodhouse.
RHI Magnesita slumps on RBC Capital downgrade
RHI Magnesita tumbled on Wednesday after RBC Capital Markets downgraded the shares to ‘sector perform’ from ‘outperform’ and cut the price target to 3,700p from 4,750p.
London open: Stocks fall after GDP data; Barratt bucks trend
London stocks fell in early trade on Wednesday as investors digested the latest UK GDP reading.
UK economy grows a little less than expected in August
The UK economy grew a touch less than expected in August despite the easing of Covid measures, according to figures released on Wednesday by the Office for National Statistics.