Market Report
Berenberg upgrades Spire Healthcare on new NHS data
Spire Healthcare got a shot in the arm on Wednesday as Berenberg upgraded its stance on the stock to 'buy' from 'hold' and lifted the price target to 310p from 270p on the back of new NHS data.
Parallel Media agrees reverse acquisitions of 'Lego Live' events
Event marketing and media agency Parallel Media Group has conditionally agreed to a reverse acquisition of Lego enthusiasts Brick Live and Parallel Live to create a new live entertainment events company with a market value of around £14. 5m and renamd Live Company Group.
Britvic fizzes higher on strong results, confident outlook despite drinks levy
Annual profits from Britvic fell less than expected as a poor performance from UK still soft drinks was balanced by a more effervescent performance from carbonated drinks at home and overseas.
Telford Homes on track to meet full-year expectations
AIM-listed Telford Homes said on Wednesday that it expects pre-tax profit for FY2018 to exceed £40m as it posted a slight drop in interim profit.
Repeat business drives Motorpoint revenue higher
Independent vehicle retailer Motorpoint Group returned an impressive fourfold increase in pre-tax profit over the six months leading to 30 September as an uptick in return customers pushed revenues ahead.
BoE's Cunliffe says Brexit poses huge uncertainty
The deputy governor of the Bank of England said there was huge uncertainty over the economic effects of Brexit as he underlined the BoE's view that Britain’s banks would be able to withstand a disorderly departure from the EU.
Strong funds growth and acquisitions push Brewin Dolphin to solid results
Independent wealth management firm Brewin Dolphin Holdings reported “another strong period” of organic fund inflows in its preliminary results on Wednesday, as it continued to deliver against its strategic plan.
LondonMetric H1 net rental income up 12%, to buy two logistics warehouses
LondonMetric posted a 12% jump in first-half net rental income on Wednesday as it said it has agreed to buy two logistics warehouses for £47. 6m, reflecting a blended net initial yield of 5. 0% rising to a minimum of 5. 6% after five years.
Cineworld makes move for US cinema theatre chain Regal
UK cinema chain Cineworld Group is poised to make a $3. 07bn (£2. 3bn) offer for the second largest chain in the US, Regal Entertainment.
Acquisitions drive RPC to 25th year of interim growth
Plastic products design and engineering company RPC Group reported first-half revenue growth of 53% to £1. 88bn on Wednesday, which the board said reflected the contribution from acquisitions, organic growth, polymer price tailwinds and translation benefits from foreign exchange movements.
London open: Stocks in the red as pound firms on reports of Brexit breakthrough
London stocks edged lower in early trade as the pound gained ground on news that a Brexit divorce bill has been agreed.
ZPG buys Dutch valuation firm Calcasa in £27m deal
Property and household-related digital brands owner ZPG has agreed to acquire Netherlands-based automated property valuation and statistical market analysis firm Calcasa for €30m (£26. 5m), it announced on Wednesday, on a cash-free, debt-free basis.
Acquisitions boost ZPG to solid full-year numbers
Home-related digital platforms operator ZPG posted a 24% improvement in revenue in its full-year results on Wednesday, as it recorded record traffic of 648 million visits to its platform, generating another record of more than 56 million partner leads.
International PP to raise £80m to pay down debt
International Public Partnerships has begun to raise £80m to pay down debt after its recent investments in Australian rolling stock and ahead of further spending on UK offshore electricity transmission.
Cost savings drive first-half growth at Pennon
Pennon Group reported a 5. 6% uplift in its first-half revenue on Wednesday, to £723. 9m, with its board claiming higher water revenues were driven by customer demand.
DfT to extend FirstGroup's Great Western franchise
FirstGroup welcomed a new strategic vision for the Great Western rail network from the Department for Transport on Wednesday, with the DfT confirming it would exercise its option to extend First’s franchise in the region by one year, to 1 April 2020.
Tullow Oil secures $2.5bn of debt refinancing
Tullow Oil said on Wednesday that it has secured $2. 5bn of debt refinancing.
Xavier Rolet leaves London Stock Exchange with immediate effect
London Stock Exchange said chief executive Xavier Rolet had left the company after weeks of wrangling over the terms of his departure.
Softcat hails good start to year, says demand still strong
Softcat hailed a solid start to the year on Wednesday as it reiterated its full-year expectations.
London pre-open: Stocks to open lower as pound gains on Brexit breakthrough
London stocks were set for a weaker open on Wednesday as the pound gained ground on news that a Brexit divorce bill has been agreed.