Market Report
UK retail sales rally more than expected
UK retail sales increased more than expected last month, thanks to boosts from warmer weather, the royal wedding and FA Cup, the Office for National Statistics said.
Conroy Gold intends to up drilling programme at Clontibret
Irish gold developer Conroy Gold and Natural Resources plans to increase drilling at its Clontibret gold deposit site in County Monaghan.
London midday: Stocks maintain losses as miners, stronger pound weigh
London stocks remained in the red by midday on Thursday, weighed down by weakness in the mining sector and a stronger pound, as investors digested better-than-expected UK retail sales data and a hawkish Fed update, ahead of the latest policy announcement from the European Central Bank.
Man Group and AQR test ways to mimic private equity returns
Man Group, AQR and other asset managers are responding to the popularity of private equity investments by trying to replicate the sector’s returns at a lower cost than the real thing.
Consort Medical pleased with underlying results
Single source drug and delivery device company Consort Medical issued its audited results for the year ended 30 April on Thursday, with underlying revenue rising 5. 8% to £311. 1m, or 4. 4% at constant exchange rates.
ValiRx rockets on 'increased confidence' in lung cancer trials
Clinical stage biotechnology company ValiRx has completed data collection from a recent Phase II trial on its lung cancer treatment and is now taking steps towards completing a clinical study report for submission.
N Brown start slowly as US drags, UK shop estate to close
Plus-size clothing retailer N Brown reported slimmer product revenue in the first quarter but remained confident in hitting full year forecasts.
SDX to consider future of South Ramadan after SRM-3 results
North Africa-focussed oil and gas company SDX Energy has spud its SRM-3 appraisal well at South Ramadan, Egypt, where it has a 12. 75% working interest as a non-operator, it announced on Thursday.
Syncona pleased with 'strong' returns at year-end
Syncona issued its final results for the year ended 31 March on Thursday, reporting “strong” returns and a net asset value increase, with positive performance across the company.
Faron sees some encouraging data in ongoing INTEREST analysis
Clinical stage biopharmaceutical company Faron Pharmaceuticals announced preliminary biomarker data from its Phase III INTEREST trial of ‘Traumakine’ for the treatment of acute respiratory distress syndrome (ARDS) on Thursday, reporting that the data confirmed that Traumakine treatment did not produce consistent interferon-beta bioactivity across the treatment group.
Revolution Bars warns on earnings as weather, absence of CEO weigh
Revolution Bars was under the cosh on Thursday as it warned that adjusted earnings for the year would be in line with last year's results and below analysts' expectations amid challenging trading conditions, with the blamed laid on weather and the absence of a CEO.
The Gym Group raises £24m to fund acquisition of easyGym sites
The Gym Group, which operates 133 low-cost gyms, said on Thursday that it has raised gross proceeds of around £24m in a placing, which will be used to fund the acquisition of 13 easyGym sites.
Majestic Wine swings to profit but warns market to remain tough
Majestic Wine said on Thursday that it swung to a profit in the year to 2 April 2018 but warned that it expects the market to remain tough.
Safestore reports strong occupancy as profits rise
Safestore said occupancy performance at its storage facilities was the strongest for five years as the company posted a 12% rise in first-half earnings.
Solid leasing momentum continues at Intu
Intu Properties added Hotel Chocolat, Mitsubishi, The Florist and House to its list of new lessees on Thursday, as it told the market of ongoing momentum in its retail leasing following its April trading update.
GoCompare buys energy comparison site Energylinx for £10m
GoCompare. com has acquired energy comparison and switching specialist Energylinx for £10m in cash in a deal that will be financed through existing resources.
GSK buoyed as another generic Advair blocked, HIV treatment meets goals
GlaxoSmithKline shares were given a double boost on Thursday as the drugmaker said its two-drug treatment for HIV had met main targets in late-stage studies, while news also emerged that one potential rival to its blockbuster Advair had been blocked by US regulators.
UK and Nigeria remain tough markets for PZ Cussons
Consumer products peddler PZ Cussons updated the market on Thursday, following the end of its trading year on 31 May, reporting that during the last few months of the year, performance in the UK has been in line with its revised expectations.
Aveva posts strong profit rise and targets £25m cost cuts
A strong performance by Aveva’s heritage business fuelled a 6. 8% rise in annual profit as the engineering and industrial software group targeted £25m of cost reductions from its merger with Schneider Electric.
London open: Stocks fall as investors digest hawkish Fed; ECB eyed
London stocks fell in early trade on Thursday, taking their cue from downbeat US and Asian sessions following a hawkish update from the Federal Reserve, as investors looked ahead to the latest policy announcement from the European Central Bank.