Market Report
Great Portland launches new community strategy
Great Portland Estates announced the launch of its new community-focussed feel-good strategy on Thursday, titled ‘creating sustainable relationships’.
TP ICAP revenue rises as some trading conditions improve
TP ICAP updated the market on its trading for the four month period from 1 January to 30 April on Thursday, reporting revenue growth of 3% to £601m, as shareholders arrived at the company’s annual general meeting.
Currency still a headwind for Vesuvius
Molten metal flow engineering company Vesuvius updated the market on its trading on Thursday, reporting that current market conditions remained “positive”, as investors met for the annual general meeting.
SIG on track as its markets remain mixed
Specialist building products supplier SIG updated the market on its trading on Thursday morning, maintaining its expectations for the year, as investors gathered in Sheffield for the company’s annual general meeting.
Rathbone Brothers pleased with Q1 amid challenging market
Rathbone Brothers updated the market on its trading for the first quarter on Thursday, reporting total funds under management of £37. 8bn at the end of March - down 3. 3% from £39. 1bn at 31 December.
Capita tumbles as rights issue shares begin trading
Outsourcer Capita loaded 1bn new shares onto the market on Thursday as it completed its £701m rights issue priced at 70p per share, enabling the FTSE 250 firm to carry out its new strategy.
Stobart swings to full-year profit thanks to disposal
Stobart, the owner of Southend Airport, swung to a profit in the year to February following the partial disposal of its investment in Eddie Stobart Logistics.
Shaftesbury snaps up two more West End properties
Real estate investment trust Shaftesbury has exchanged contracts to acquire 35 and 36 Great Marlborough Street in London's West End.
ITV gets off to good start thanks to online and studio content
ITV reported strong first-quarter growth in advertising revenues as new chief executive Carolyn McCall said her "strategic refresh is progressing well" ahead of a summer where profits will hang to a large extent on the FIFA World Cup.
Melrose announces pay review before AGM
Melrose Industries said it would review its pay arrangements and consult with shareholders as it prepared for a potentially rocky annual general meeting.
London open: Next and RBS lead stocks higher on Super Thursday
London stocks edged tentatively higher on Super Thursday as investors eyed the latest policy announcement from the Bank of England and waded through a deluge of corporate news.
Morrisons sales improve in first quarter
Morrisons posted an improvement in sales for its first quarter on Thursday, saying that for the 13 weeks to 6 May, group like-for-like sales excluding fuel were up 3. 6%, comprising contributions from retail of 1. 8% and wholesale of 1. 8%.
RBS agrees to pay $4.9bn to settle US mortgage securities case
Royal Bank of Scotland has agreed to pay $4. 9bn (£3. 6bn) to settle a long running-investigation by the US Department of Justice into the bank’s dealing in mortgage-backed securities before the financial crisis.
London pre-open: Stocks seen higher ahead of BoE announcement
London stocks were set to edge higher at the open on Thursday following a positive session on Wall Street, as investors eyed the latest policy announcement from the Bank of England, with oil still very much in focus.
BAE Systems reiterates expectations for flat 2018 earnings
Defence group BAE Systems reiterated its expectations on Thursday for 2018 earnings to be flat on the year, as it said there were good prospects to add to its order backlog.
Beazley first-quarter premiums rise 10%
Beazley posted a 10% jump in first-quarter gross written premiums on Thursday as it reiterated its full-year combined ratio guidance.
Thursday newspaper round-up: FOBTs, Sky, trade plans, BP
A cut to the maximum stake on addictive betting machines to £2 has been delayed after a senior minister led a cabinet revolt against the plans. The Department for Culture, Media and Sport planned to announce the reduction today after winning over sceptics in the Treasury but a source close to the cabinet says Esther McVey, the work and pensions secretary, has strongly objected to the plan. - The Times.
US close: Wall Street higher as oil prices continue climb
Wall Street finished in the green on Wednesday, after energy shares were given a boost by Donald Trump's decision to withdraw from the Iran nuclear deal.