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Frasers Group tables all-cash offer for Australian rival MySale
Frasers Group tabled an all-cash offer for its smaller Australian rival MySale in a bid to grow its presence Down Under.
London midday: Stocks dip following CPI data at 40-year high
London stocks were lower on Wednesday as investors mulled the latest UK inflation data which showed consumer prices climbed at their fastest clip in 40 years in July.
Gooch & Housego warns on profit despite record order book
Photonic components and systems manufacturer Gooch & Housego reported “strong and improving” levels of demand for its products and services in a trading update on Wednesday, with its order book reaching another record level, though it lowered its profit expectations amid a slower-than-expected production ramp-up.
Europe midday: Shares slip into red on UK inflation, eurozone GDP data
European shares slipped into the red by midday on Wednesday as UK inflation had breached the 10% mark and eurozone second-quarter growth was revised downwards.
Berenberg slashes target for Gem Diamonds but stays at 'buy'
Analysts at Berenberg slashed their target price for shares of Gem Diamonds on the back of the miner's second quarter trading statement.
Gem Diamonds revenue up, though prices and recoveries fall
Gem Diamonds sold 57,075 carats in its first half, it reported on Wednesday, generating revenue of $99. 6m, up from $97. 3m year-on-year, although prices and recoveries were down.
Euro area Q2 GDP revised slightly lower, slowdown seen ahead
The euro area's economy expanded at a slightly slower pace than previously estimated over the three months to June, alongside steady growth in employment.
Asia report: Stocks rise as RBNZ hikes rates again
Stock markets in Asia were mostly higher on Wednesday, as New Zealand’s central bank hiked interest rates, and data from Japan and Australia buoyed sentiment.
Essentra records strong first-half after packaging disposal
Essentra reported a “strong” first-half performance from its continuing operations on Wednesday, with revenue up 17% on a constant currency basis to £340. 8m, and adjusted operating profit up 44% to £35. 3m.
Boohoo buys 7.1% stake in Revolution Beauty
Fast fashion retailer Boohoo said on Wednesday that it has bought a 7. 1% stake in Revolution Beauty, sending shares in the latter surging.
Cineworld mulls restructure as lack of blockbusters hits sales
Film theatre chain Cineworld warned on Wednesday that a lack of big-budget film releases was hitting admissions at its cinemas and would persist until November, hitting trading and the group's liquidity.
Entain fined £17m for social responsibility, anti-money laundering failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility and anti-money laundering failures.
US pre-open: Stocks to fall ahead of retail sales, FOMC minutes
US stocks looked set to fall at the open on Wednesday as investors eyed the latest minutes from the US Federal Reserve and retail sales data for July.
Persimmon profits fall, maintains completion guidance
Housebuilder Persimmon posted a fall in interim profits on Wednesday, but reiterated completion guidance and said price rises were offsetting cost inflation.
Hochschild earnings fall as first-half production slows
Hochschild Mining reported first-half revenue of $347. 8m on Wednesday, down from $394. 8m year-on-year, as adjusted EBITDA fell to $130. 5m from $198. 5m.
UK inflation hits 10.1% in July as food, energy prices surge
UK inflation hit a fresh 40-year high in July and surpassed analysts’ expectations as food and energy prices jumped, according to data released on Wednesday by the Office for National Statistics.
London open: Stocks little changed as inflation hits 10.1%
London stocks were little changed in early trade on Wednesday as investors mulled the latest UK inflation data.
Europe open: Shares edge ahead as UK inflation hits 10%
European shares inched higher at the open on Wednesday, with investors digesting the latest UK data showing inflation had breached the 10% mark.
GSK application for myelofibrosis drug accepted by US FDA
The US Food and Drug administration has accepted a new drug application for GlaxoSmithKline’s treatment for myelofibrosis patients with anaemia, the company said on Wednesday.
Plaintiff in GSK Zantac lawsuit pulls suit for now
GlaxoSmithKline said the plaintiff in the first lawsuit over the heartburn drug Zantac to go to trial had agreed to drop his case for now.