Market Pulse
21st Century Fox bumps up Sky offer, trumps Comcast
Rupert Murdoch's 21st Century Fox has upped its offer for the Sky shares it does not already own to £14 per share, trumping the latest offer from Comcast by around 12%.
ReNeuron surges on stem cell agreement with US pharma group
Stem cell therapeutics specialist ReNeuron has signed an exclusivity agreement with a US-based speciality pharmaceutical company that could potentially lead to an out-licensing of the AIM-listed company's hRPC retinal technology and therapeutic programmes.
Aviva completes sale of two Spanish holdings, announces a third
Aviva has completed the sale of its entire shareholding in life insurance and pensions joint ventures Cajamurcia Vida and Caja Granada Vida to Bankia, it confirmed on Wednesday.
Jefferies upgrades Coca-Cola HBC as it enters a 'sweet spot'
Jefferies upgraded Coca-Cola HBC to 'buy' from 'hold' on Wednesday and hiked its price target to 3,000p from 2,660p, saying the group was entering a "sweet spot" of growth and M&A optionality given the strong balance sheet.
Tim Martin complains about tariffs as Wetherspoon introduces cheaper non-EU booze
J D Wetherspoon issued its pre-close trading statement for the financial year ending 29 July on Wednesday, reporting that in the 10 weeks to 8 July, like-for-like sales increased 5. 2% and total sales by 5. 6%.
PageGroup posts best growth in seven years as some market concerns linger
PageGroup posted its second quarter and first half trading update on Wednesday, reporting second quarter gross profit growth of 16. 0% at constant currency to £208. 2m - a record figure.
Sound Energy adds CFO to board of directors
Moroccan-focused upstream gas company Sound Energy has promoted JJ Traynor, the firm's existing chief financial officer, to its board of directors with immediate effect.
Safestyle warns on profits yet again
AIM-listed Safestyle said on Wednesday that it expects to report a small underlying pre-tax loss for the year, while revenues are likely to be below market expectations, but there was some good news as the double glazing group said order intake has firmed up in recent weeks.
Glencore sets up committee to deal with DoJ subpoena
Glencore said it had set up a boardroom committee to oversee its response to the US Department of Justice subpoena that it received last week.
London open: Stocks get clobbered as Trump ramps up China trade war
London stocks took a beating in early trade on Wednesday as trade war concerns reared their head once again after Washington announced plans to impose tariffs on an extra $200bn of Chinese goods.
Sainsbury's appoints ex-Deloitte chairman Martin Scicluna
Sainsbury's has appointed former Deloitte audit chief and current Great Portland Estates chairman Martin Scicluna to be the supermarket group's chairman next March.
Smurfit Kappa talks up its latest environmental accolade
Smurfit Kappa issued an RNS update in its trademark boastful fashion on Wednesday, claiming that its commitment to sustainability had been recognised again by the Euronext Vigeo Eiris index.
Grafton revenues boosted by warm weather
Builders' merchant Grafton Group posted a rise in first-half revenue on Wednesday as it benefited from warm weather.
Paddy Power Betfair completes US merger with FanDuel
Paddy Power Betfair confirmed on Wednesday that the previously-announced combination of its US business with FanDuel, initially announced on 23 May, completed on 10 July.
Burberry encouraged by first quarter progress
Burberry got off to good start in the first quarter as it announced a move to a new model of "frequent and sometimes unexpected drops" of new limited-edition products or collaborations with celebrities or other designers.
London pre-open: Stocks to drop as Trump ramps up China trade war
London stocks were set for a downbeat open on Wednesday after the US announced plans to impose tariffs on an extra $200bn of Chinese goods.
Wednesday newspaper round-up: M&S, Ocado, Facebook, Trump tariffs
The chairman of Marks & Spencer has given his starkest warning yet about existential threat faced by the high street giant as he refused to rule out further store closures and job losses. This business is on a burning platform,” said Archie Norman, who took over as M&S’s chairman last year. “We don’t have a God-given right to exist and unless we change and develop this company the way we want to, in decades to come there will be no M&S. ” – Guardian.