Company News
Scottish Mortgage, Rentokil Initial join FTSE 100 as Dixons Carphone, Capita drop out
Scottish Mortgage Investment Trust and Rentokil Initial have been promoted to the FTSE 100 index as part of a quarterly reshuffle, with Dixons Carphone and Capita dropping out after falls in their share price in recent months.
Wells Fargo to cut bonuses for top executives after account scandal
The top executives of US bank Wells Fargo will have their bonuses cut as the lender attempts to restore customer confidence following an accounting scandal which saw it fined $185m by regulatory bodies.
London close: 'Trump effect' heaves FTSE to record closing highs as global equities surge
London, Europe and US stock markets got a hefty heave higher Wednesday on the back of US President Donald Trump's $1trn infrastructure pledge to Congress last night, with the prospect of a US rates hike in March also a factor in traders' optimism.
Carillion revenue increases as it aims to reduce net borrowing
Facilities manager Carillion’s revenue in 2016 increased led by growth in support services, while the company aims to reduce its net borrowing in the medium-term.
ValiRx raises £1.16m in placing
Clinical stage biotechnology company ValiRx announced a placing to raise £1. 16m on Wednesday.
Thursday preview: Messy numbers from Capita and Cobham expected
As well as some "messy" post-profit warning results from the likes of Capita and Cobham for investors to pore over, traders also have UK construction PMI and eurozone inflation data to keep them interested through the day.
BATM expecting cash inflow in final results
Real-time networking solutions and medical laboratory systems provider BATM Advanced Communications updated the market on its trading for the year to 31 December on Wednesday, ahead of announcing its final results for the period on 8 March.
Creo Medical Group joins European stem-cell cancer project
Medical device company Creo Medical Group said it was taking part in a European programme researching a stem-cell cancer treatment for brain tumours.
Bodycote shares fall as JPMorgan downgrades to 'neutral'
FTSE 250 constituent Bodycote was down more than 2% on Wednesday after US investment bank JPMorgan Chase lowered its recommendation to 'neutral' from 'overweight'.
Broker tips: South32, easyJet, Next, Bodycote
Shares in South 32 were on the front foot on Wednesday after HSBC upgraded the base metal and coal miner to 'buy' from 'hold' and left its price target unchanged at 185p, following suggestions that it will execute a share buyback programme in the first half.
ITV repeats dividend special but expects advertising revenues to stumble
ITV reported a sizeable slowdown in revenues in the second half of 2016 and warned that advertising revenues would fall in the early months of 2017.
Proxama wins £300,000 grant to transform Manchester's transport system
Mobile commerce company Proxama has won a £300,000 grant from the UK government to design and implement a smart transportation model for Greater Manchester.
Small cap news round-up
Mobile commerce company Proxama has won a £300,000 grant from Innovate UK, the government’s agency that supports innovation and business, to design and implement a smart transportation model for Greater Manchester.
Results round-up: ITV, CRH, BBA Aviation, Carillion
ITV reported a sizeable slowdown in revenues in the second half of 2016 and warned that advertising revenues would fall in the early months of 2017.
IGas looking at $35m capital injection from Kerogen Capital
IGas Group updated the market on its previously-flagged restructuring options on Wednesday, confirming it was looking to proceed with a significant injection of capital.
Premier Oil agrees refinancing terms with some bondholders
Premier Oil announced on Wednesday that amended terms to its $245m convertible bonds had been agreed with all members of an ad hoc committee of convertible bondholders.
InnovaDerma completes purchase of Aussie skincare brands
UK developer of 'at-home' and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation InnovaDerma announced on Wednesday that it has completed the acquisitions of the intellectual property and assets of the 'Stevie K' and 'Charles + Lee' brands from Stevie K Cosmetics and Charles + Lee, announced on 27 February 2016.
Man Group swings to loss, but FuM up
Hedge fund manager Man Group swung to a pre-tax loss for the year to the end of December, but total funds under management rose.
British Land agrees Leadenhall sale for £1.15bn
British Land has agreed the sale of the Leadenhall Building, known as the Cheesegrater, to China's CC Land for a headline price of £1. 15 billion.
Riverstone Energy 2016 NAV up 26%; posts $351m profit
Investment company Riverstone Energy (REL) on Wednesday reported a full year profit of $351. 4m (£283. 5m), adding that its net asset value increased 26% to $20. 11 (£16. 29).