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AO World interim losses widen but FY profit outlook lifted
Online electricals retailer AO World reported a widening of its interim losses on Tuesday as revenues fell, but lifted its full-year profit expectations.
London open: Energy shares pace the advance as oil prices recover
London stocks rose in early trade on Tuesday, with energy shares pacing the gains as oil prices recovered.
CentralNic reiterates expectations after solid third quarter
Internet marketplace and marketing service company CentralNic reported an 88% improvement in revenue in the first nine months of its financial year on Tuesday, to $526. 7m.
SigmaRoc to install carbon capture tech on its Nordkalk kilns
SigmaRoc announced on Tuesday that it will install its first carbon capture facility in the first quarter of next year, aiming to capture all kiln process emissions by 2030, well ahead of its 2040 ‘net-zero’ target.
CRH backs outlook for the year amid 'resilient' demand
Building materials group CRH posted a rise in earnings on Tuesday amid "resilient" demand and backed its outlook for the year.
Cranswick revenue rises despite tough environment
UK food producer Cranswick said half-year profits fell, but posted a rise in sales as it worked to keep cost inflation under control.
Acquisitions help lift Tatton through first half
Investment management and independent financial advisor support provider Tatton reported a 15. 1% improvement in group revenue in its first half on Tuesday, to £15. 9m.
Restore confident despite rise on cost of borrowing
Document management and digital service provider Restore said in an update on Tuesday that its recent trading continued the positive momentum it reported in the first half, with “significant” contract wins and an expansion in activity levels.
Telecom Plus hikes expectations after bumper first half
Telecom Plus reported a 51. 5% improvement in first-half revenue on Tuesday,to £562. 4m, as its adjusted profit before tax increased 22. 5% to £32. 1m and it upgraded its full-year forecast.
Severn Trent turns in 'robust' first-half performance
Severn Trent announced on Tuesday morning that it was guiding for a double-digit real return on regulated equity for the full 2023 financial year, after a “robust” first half.
Petrofac CEO to stand down
Energy services company Petrofac said on Tuesday that chief executive Sami Iskander will leave the business at the end of March 2023 in order to pursue other interests.
GSK starts moves to pull FDA approval for blood cancer drug
British pharmaceutical giant GSK on Tuesday said it has started proceedings to pull US approval for its blood cancer drug Blenrep after it failed to meet the requirements of a late-stage trial.
Fresnillo successfully concludes testing of substation equipment at Juanicipio Project
Silver mining group Fresnillo said on Tuesday that testing to verify compatibility between new and updated substation equipment at its Juanicipio Project site had been concluded successfully.
UK government borrowing rises in October
UK government borrowing rose in October, albeit less than expected, after the government stepped in to help households and businesses with energy bills.
Homeserve profits rise as Brookfield takeover nears completion
Home repairs provider Homeserve reported a rise in interim profits despite the cost-of-living crisis.
London pre-open: Stocks seen up as oil prices recover
London stocks were set to rise at the open on Tuesday as oil prices recovered after Saudi Arabia denied a report that it and other Opec countries were in talks about lifting output.
Tuesday newspaper round-up: Penguin, UK restaurants, Shell
Penguin Random House, the world’s largest book publisher, and rival Simon & Schuster have scrapped a $2. 2bn deal to merge, Penguin’s owner said in a statement on Monday. Bertelsmann, a German media group which owns Penguin, initially said it would appeal a US judge’s decision that said its purchase of Simon & Schuster would be illegal because it would hit authors’ pay. – Guardian.
Sector movers: Oil stocks drag amid concerns around Chinese reopening
Big Pharma and Utilities paced gains at the start of the week, as investors shifted towards defensive issues following reports of the first Covid-19 deaths in China since the end of the second quarter, which stoked concerns that Beijing might slow the reopening of its economy.
US close: Major indices lower as China fears weigh on stocks
Wall Street stocks were in the red at the close of trading on Monday as fears that the Chinese government may reintroduce Covid-19 containment measures saw the holiday-shortened trading week kick off with losses.