Market Report
Foxtons warns of 'very challenging' London market as revenue drops
Estate agency Foxtons, famous for its aggressive sales practices, reported a drop in first-quarter revenue on Thursday as it cautioned that the London property market remains "very challenging".
WH Ireland warns of 'increased loss'
AIM-quoted financial services firm WH Ireland gave investors cause for concern on Thursday morning, as reduced transactions and higher costs led the group to warn of an increased loss from its most recent trading year.
Statutory profit down on constant currency basis at Investec
Investec saw a marginal improvement in its statutory operating profit before goodwill, acquired intangibles, non-operating items and taxation and after other non-controlling interests in its final results on Thursday, with the figure rising 1. 4% to £607. 5m.
Grainger sees solid rental income growth as it continues to invest
Grainger reported a 9% increase in its net rental income to £21. 8m in its half-year results on Thursday, along with a £756m secured private rented sector investment pipeline, up from £439m year-on-year.
Totally scores NHS outsourcing contract extension
Out-of-hospital services firm Totally has been awarded an 11-month contract extension with NHS Vale of York CCG via its wholly owned subsidiary Vocare.
Just Group first-quarter retirement sales beat estimates
Retirement services company Just Group rallied on Thursday as it reported a jump in first-quarter sales thanks to a strong performance in defined benefit de-risking.
Thomas Cook cuts losses as airline growth offsets UK margin pressure
Thomas Cook reported an improvement in first half losses and said it was seeing stronger demand and prices for the summer season across holiday tour and airline bookings.
Sophos billings up 22% as Central performs well
Full-year billings at FTSE 250 cyber security firm Sophos rose 22% thanks to growth in its integrated cloud-based management platform, but pre-tax losses widened due to currency movements.
Thursday newspaper round-up: Rail franchises, customs deal, Capita, buy-to-let
Britain will tell Brussels it is prepared to stay tied to the customs union beyond 2021 as ministers remain deadlocked over a future deal with the EU. The Prime Minister's Brexit war Cabinet earlier this week agreed on a new "backstop" as a last resort to avoid a hard Irish border, having rejected earlier proposals from the European Union. - Telegraph.
TBC Bank pleased with first quarter performance
TBC Bank reported a marginal rise in net profit for its first quarter on Thursday, with the figure rising to GEL 97. 5m from GEL 96. 6m year-on-year, while its pre-provision profit improved to GEL 147. 8m from GEL 120. 6m.
London open: Stocks flat as bookies tumble over betting machine stake cut
London stocks were little changed in early trade on Thursday, but bookies were under the cosh as the government confirmed it will cut betting machine stakes to £2, while sterling was in focus following a report that the UK could stay in the European customs union.
Matthew Price to step down as Moneysupermarket CFO
Moneysupermarket announced on Thursday that chief financial officer Matthew Price would step down as CFO and as a director on 31 October.
National Grid posts decent full-year performance after Cadent split
National Grid reported a 4% rise in its underlying operating profit to £3. 5bn, or 6% at constant currency, in its final results on Thursday, with its statutory operating profit improving 9%, also to £3. 5bn.
Ocado soars on back of huge contract with US grocery giant Kruger
Ocado Group has won a contract with US grocery giant Kroger to exclusively provide its online grocery expertise across up to 20 distribution warehouses across America.
Royal Mail's Greene warns GDPR may hit letter volumes
Royal Mail delivered a good set of final results, with chief executive Moya Greene beating beating City expectations before she stands down next month but warning that general data protection regulation laws may lead to a steeper decline in letter deliveries this year.
Countryside Properties revenue and profit up; confident on outlook
Countryside Properties posted a jump in half-year completions, revenue and profit on Thursday, as it expressed confidence in the medium term and bumped up its dividend.
British Land profit drops but NAV rises; market conditions to remain 'challenging'
British Land posted a drop in full-year underlying profit on Thursday even as its net asset value grew, as the FTSE 100 property group cautioned that market conditions are likely to remain challenging.
London pre-open: Stocks seen muted; gambling shares in focus as betting machine stakes cut
London stocks were expected to see a muted start on Thursday as the pound gained on a report that the UK could stay in the customs union, while gambling shares were likely to be in focus as betting machine stakes are set to be cut.
US close: Stocks and oil prices move higher as crude inventories fall
Wall Street ended Wednesday in the green, even as investors keep an eye on bond yields and geopolitical concerns weigh on sentiment.