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Sound Energy mulls disposal of Moroccan acreage
Exploration group Sound Energy revealed on Wednesday that it was considering offloading its Moroccan operations following yet another well disappointment.
BofA-ML reiterates 'underperform' on Lloyds citing competition in UK mortgages
Analysts at Bank of America-Merrill Lynch reiterated their 'underperform' recommendation for shares of Lloyds on Wednesday, pointing to a £2. 0bn revenue headwind for the lender as it tries to manage the trade-off between growing its mortgage volumes and sustaining it net interest margin in the face of increased competition in the space and as expectations for interest rate increases continue to get pushed back.
SSE adjusted FY profits slump; warns of tough 2019
Adjusted pre-tax profits at energy provider SEE slumped 38% to £725. 7m as the company warned current year results would be challenged by competition and opposition Labour Party renationalisation plans.
Hargreaves Services warns over exposure to possible British Steel collapse
Hargreaves Services warned on Wednesday that if steel producer British Steel - which it has been supplying for nearly eight years - collapses, its revenue and pre-tax profit for the next financial year would suffer.
Cadent to pay £24m after compensation and record-keeping failures
Cadent Gas has agreed to pay £24m and committed to implementing an improvement plan to address three serious failings after intervention from the energy sector regulator Ofgem, it was revealed on Wednesday.
Great Portland Estates confident in London appeal after earnings slip
Great Portland Estates reported “robust” financial performance in its final results on Wednesday, with ordinary dividend growth of 8. 0% and a 1% improvement in its EPRA net asset value per share to 853p.
Mortgage and commercial lending divisions underpin Paragon profits
Paragon Banking Group reported an 8. 7% jump in first-half underlying profits on Wednesday, with strong performances from both the mortgage and commercial lending divisions.
Pets at Home FY profits fall on restructuring costs
Pets at Home reported a 37. 7% fall in full year profits as the company bought out more under-performing joint venture vet practices.
Big Yellow sells unused space at New Malden site
Big Yellow Group announced on Wednesday that it has sold the part of the Wyvern Industrial Estate in New Malden, London, that it did not occupy for £11. 8m.
Superdry taps Nick Gresham for interim CFO
Clothing company Superdry appointed Nick Gresham to the role of interim chief financial officer on Wednesday.
IG Group shares up amid late improvement in trading conditions
IG Group Holdings reported on Wednesday that the “low levels” of volatility and market activity it experienced in the third quarter had continued into the first two months of its final quarter, as it updated the market on its trading ahead of the end of its financial year.
London open: Stocks rise as pound retreats; inflation data eyed
London stocks rose in early trade on Wednesday, outperforming their European counterparts thanks to sterling weakness, as Prime Minister Theresa May failed to get support for her tweaked Brexit deal.
Royal Mail cuts dividend as profit falls
Royal Mail announced a dividend cut to fund an investment plan as the delivery company reported a sharp decline in annual profit.
Close Bros hails 'solid' Q3, upbeat over full year
Merchanting banking group Close Brothers said on Wednesday that it had delivered a "solid" third-quarter performance as it expressed confidence over the full year.
M&S says progress inconsistent as profit falls
Marks & Spencer's annual profit fell almost 10% as underlying revenue declined across the retail chain's food and clothing and home divisions.
Profits fall at M&S, earnings slump for SSE
London open The FTSE 100 is expected to open 20 points higher on Wednesday, having closed up 0. 25% at 7,328. 92.
London pre-open: Stocks seen higher as investors eye inflation data
London stocks were set for a positive open on Wednesday, tracking gains on Wall Street as investors eye key UK inflation data, with Brexit very much in focus as Prime Minister Theresa May’s deal looks increasingly unlikely to get through Parliament.
Wednesday newspaper round-up: Boris Johnson, housebuilders, KPMG, Metro Bank
Boris Johnson is launching a bid to court One Nation Conservative MPs in the group of centrist liberals run by Amber Rudd, as he tries to pitch himself as a candidate who can appeal beyond rightwing Brexit supporters. The former foreign secretary, who is favourite to be the next Conservative leader, is backed by Brexit hardliner Jacob Rees-Mogg but infuriated many Tory colleagues by backing Theresa May’s deal after months of campaigning against it. – Guardian.