DiscoverIE orders and sales grow, Barratt H1 profits up despite revenue drop
London pre-open
The FTSE 100 was being called to open 61.2 points higher ahead of the bell on Wednesday after closing out the previous session 0.08% weaker at 7,567.07
Stocks to watch
Customised electronics manufacturer DiscoverIE Group said on Wednesday that strong trading momentum seen in the first half had carried over into the four months ended 31 January, with a further strengthening of the firm's order book and significant year-on-year revenue growth.
DiscoverIE stated it was on track to deliver full-year underlying earnings for continuing operations ahead of previous internal expectations, despite ongoing supply chain headwinds, while group orders were up 18% year-on-year and group sales 34% ahead of the prior year at constant currency.
Housebuilder Barratt reported a slight rise in interim profits and lifted its dividend payout despite posting an 11% fall in completions and weaker revenue.
Barratt posted a pre-tax profit of £432.6m for the six months ended 31 December, up 0.6% year-on-year and, even as revenue fell 9.9% to £2.2bn, the firm lifted its dividend by almost half to 11.2p a share.
Newspaper round-up
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US close
Wall Street stocks ended the session in the green on Tuesday as market participants digested December's trade balance figures and continued to look ahead to key inflation data scheduled for release later in the week.
At the close, the Dow Jones Industrial Average was up 1.06% at 35,462.78, while the S&P 500 was 0.84% firmer at 4,521.54 and the Nasdaq Composite saw out the session 1.28% stronger at 14,194.45.