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Babcock lowers FY profit guidance on oil & gas writedown
Engineering firm Babcock lowered its full year profit guidance range on Wednesday due to contract award delays in its aviation division and an £85m write down on oil and gas assets.
Europe open: Coronavirus hopes offset 'terrible' industrial production data
Stocks were trading higher again in the middle of the week, boosted by hopeful projections of when the new China coronavirus might peak, offset by a grim reading on the euro area's industrial sector at the turn of the year.
WPP buys US marketing technology consultancy XumaK
Advertising giant WPP said on Wednesday that its Wunderman Thompson agency has bought marketing technology consultancy XumaK for an undisclosed sum.
Dunelm interim profits rise, FY profit to beat expectations
Homeware retailer Dunelm reported a rise in interim profit on Wednesday and said full-year pre-tax profit will be "slightly ahead" of analyst expectations.
RWS Holdings pleased with performance in new financial year
Intellectual property and localisation provider RWS Holdings updated the market on its trading on Wednesday, reporting that the financial year ended 30 September was an “excellent” one, with all three delivering record results.
Rio Tinto to review future of unprofitable Iceland smelter
Rio Tinto said on Wednesday that it will review the future of its unprofitable ISAL aluminium smelter in Iceland, with curtailment and closure among the options.
SolGold reports latest on exploration at Timbara
SolGold updated the market on exploration at its wholly-owned Timbara Project in southern Ecuador on Wednesday, which is held by its 100%-owned subsidiary Green Rock Resources.
Scapa shares tumble after profit warning
Scapa shares tumbled on Wednesday after it warned that full-year trading profit would be "significantly" below consensus views as cost reductions take longer than expected.
Primary Health Properties pleased with performance after MedicX merger
Primary Health Properties reported a 51. 4% improvement in net rental income in its preliminary results on Wednesday, to £115. 7m, as adjusted EPRA earnings rose 62. 2% to £59. 7m.
London open: Stocks edge up as coronavirus fears ease
London stocks edged higher in early trade on Wednesday following an upbeat session in Asia, as investors took some comfort from signs that the coronavirus spread may be slowing.
Plus500 upbeat after second half recovery
Contracts for differences (CFD) trading services provider reported on a year of “two distinct halves” on Wednesday, with a “strong” improvement in the second half, after a first half impacted by extremely low volatility in the first quarter.
Polymetal doubles Kutyn gold reserve estimates
Russian miner Polymetal reported a twofold increase in reserves at its Kutyn gold project to 800,000 ounces after a geological update, as the company looked for a buyer or partner.
Sainsbury’s Bank chairman Roger Davis to step down
Sainsbury’s said on Wednesday that Roger Davis plans to step down as chairman of its banking division.
Babcock lowers full-year guidance, interim profit rises for Dunelm
London open The FTSE 100 is expected to open 11 points higher on Wednesday, having closed up 0. 71% at 7,499. 44 on Tuesday.
Wednesday newspaper round-up: Global growth, Ofcom, Brexit, Ocado
Loss of nature will wipe £368bn a year off global economic growth by 2050 and the UK will be the third-worst hit, with a £16bn annual loss, according to a study by the World Wildlife Fund. Without urgent action to protect nature, the environmental charity warned that the worldwide impact of coastal erosion, species loss and the decline of natural assets from forests to fisheries could cost a total of almost £8tn over the next 30 years. – Guardian.
London pre-open: Stocks to rise after positive Asian session
London stocks were set to gain at the open on Wednesday, taking their cue from an upbeat session in Asia as concerns about the coronavirus receded.