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London midday: Stocks turn lower after Riksbank rate hike
London stocks had turned lower by midday on Tuesday after Sweden’s central bank announced its biggest rate hike in nearly three decades, heightening expectations of big moves from the US Federal Reserve and the Bank of England this week.
Chip shortages still impacting trading for Adept Technology
Managed IT service provider Adept Technology said on Tuesday that, despite “challenging” macroeconomic conditions in the first few months of its financial year, it had grown its project backlog and continued to win new business and secure contract renewals and extensions.
Europe midday: Riksbank rate hike sends investors scurrying
European shares went into reverse at midday as Sweden lifted rates by 100 basis points, sparking nerves over more aggressive interest rate rises in the US and UK.
Asia report: Stocks rise as Japan inflation hastens, China holds rates
Stock markets finished in the green in Asia on Tuesday, as fresh data out of Japan showed the country’s core inflation rocketing towards an eight-year high, while China’s central bank stood pat on key lending rates.
Bitcoin and Ethereum rebound from their lows, but weakness points to further declines
Buying returns to the cryptocurrency market, with Bitcoin and Ethereum bouncing back from three- and two-month lows, respectively, hit on Monday. Rises are about 5% for both assets, while other tokens see prices rise as much as 10% since Monday, like Ripple. The total capitalization is close to $940 billion, after touching $900 billion, almost $100 billion from the trillion-dollar levels reached by the cumulative value of cryptocurrencies.
Kingfisher interims fall 30% amid 'uncertain environment'
B&Q owner Kingfisher reported a fall in first-half profits against a tough comparator last year when DIY boomed during pandemic lockdowns and now amid a "more uncertain macroeconomic environment".
Future CEO planning to leave next year, shares tumble
Media group Future said on Tuesday that chief executive Zillah Byng-Thorne has "informally indicated" that she would like to step down by the end of next year.
Sweden hikes interest rates
Sweden’s central bank upped interest rates on Tuesday, as it warned that further increases were likely.
Craneware reports solid first half as it integrates Sentry
Healthcare software company Craneware reported a 119% improvement in full-year revenue on Tuesday, to $165. 5m, as adjusted EBITDA rose 91% to $51. 8m.
Revenue, adjusted earnings improve for Jadestone
Jadestone Energy reported a 63% year-on-year rise in revenue in its first half on Tuesday, to $225. 6m, amid higher production and higher average realised oil prices.
Canaccord Genuity reiterates 'buy' rating on Good Energy
Analysts at Canaccord Genuity reiterated their 'buy' rating on renewable electricity company Good Energy on Tuesday, citing the group's "robust" first-half cash flow and "attractive" outlook.
German producer prices surge at record pace
German producer prices surged last month, official data showed on Tuesday, pushed higher by the soaring cost of energy.
Tremor board another $20m in share repurchases
Advertising technology company Tremor International has approved a $20m share repurchase programme, it announced on Tuesday, financed through its existing cash resources.
Drilling operations start on i3's Serenity appraisal well
UK and Canada-focussed oil and gas company i3 Energy announced the start of drilling operations on the Serenity appraisal well on UK licence P. 2358, block 13/23c.
Alliance Pharma revenue rises, profits narrow in first half
Alliance Pharma reported see-through revenue of £81. 6m in its first half on Tuesday, up slightly from the £80. 9m it recorded a year ago, while its statutory revenue improved to £78. 8m from £78. 6m.
Boku inks three-year deal with Amazon
Mobile payment technology company Boku has entered into a new multi-year commercial agreement with a subsidiary of Amazon, it announced on Tuesday, for Boku Payments to supply its digital wallet and other local payment methods to the e-commerce behemoth.
Plus500 unveils five-year revenue target
Plus500 updated its revenue targets on Tuesday as it announced plans to expand its product range and move into new territories.
JPMorgan upgrades SSE to 'overweight'
JPMorgan Cazenove upgraded SSE on Tuesday to ‘overweight’ from ‘neutral’ and hiked the price target to 2,100p from 1,585p.
Elixirr confident after 'robust' first half
Challenger consultancy Elixirr International reported a 39% rise in first-half revenue on Tuesday, to £33. 4m, with group revenue reaching new records in four of the period’s six months.
Fuller's sales continue recovery as energy costs soar
Pub operator Fuller, Smith & Turner said it was continuing to rebuild its sales post-pandemic on Tuesday, with total sales in the first 25 weeks of its financial year up 3% against pre-Covid levels, and up 50% on the same period last year.