Market Report
Redx Pharma announces nomination of first fibrosis treatment candidate
Drug discovery and development company Redx Pharma announced the nomination of its first development compound to treat fibrosis on Wednesday.
Condor Gold narrows losses ahead of La India ramp-up
Explorer Condor Gold trimmed losses during the first nine months of its trading year thanks to a significant cut in administrative costs.
SSE posts 41% drop in interim profit; to create new renewable energy business
Energy group SSE posted a drop in interim profit on Wednesday as it announced the creation of a renewable energy business.
UK inflation stays flat as food prices tumble
UK inflation remained unchanged last month, the Office for National Statistics revealed on Wednesday, having been expected to rise slightly.
Speedy Hire profits rise as SME customers grow
Tools, equipment and plant hire services company Speedy Hire posted a surge in first-half profit on Wednesday amid strong growth in its SME customer numbers and revenues.
German economy contracts for first time since Q1 2015
The German economy shrank in the third quarter amid weaker exports, marking its first contraction since the first quarter of 2015, according to data released by Destatis.
Grainger sees strong growth as demand for housing continues to climb
Residential property business Grainger reported a set of “strong” full-year results on Wednesday, with its adjusted earnings rising 26% to £94. 0m.
Grainger to buy out GRIP portfolio via massive rights issue
Private rented sector landlord Grainger has conditionally agreed to acquire the entire share capital and shareholder loans in GRIP REIT from its joint venture partner APG, it announced on Wednesday, for £396m.
British Land holds up as retail falls but London offices firm
A decline in retail property values hit British Land in the first half of the year, but the offices and shopping centre developer reported flat earnings as it grew rents and bought back shares.
Micro Focus rallies on Goldman upgrade
Micro Focus got a boost on Wednesday as Goldman Sachs upped the stock to 'buy' from 'neutral' and lifted the price target to 1,700p from 1,300p as it said the risk/reward is now skewed to the upside.
Dods profits drops after board restructuring offsets revenue bump
Events and publishing outfit Dods Group saw profits tumble in the first half of its trading year, as costs associated with its massive restructuring programme offset a slight increase in revenues.
London open: Stocks drop as May faces cabinet showdown over Brexit deal
London stocks fell in early trade, with sterling little changed after Theresa May agreed the text of a draft withdrawal agreement with the EU.
Prudential profits accelerate in Asia, US recovers
Prudential's profit growth accelerated in the third quarter of the year as sales recovered in the US and improved in Asia, while the M&G Prudential arm made "good progress" in preparations for its demerger.
Cobham backs FY expectations as it makes progress on turnaround
FTSE 250 aerospace and defence group Cobham said on Wednesday that it performed as expected in the first 10 months of the year, as it backed its overall expectations for 2018.
Wednesday newspaper round-up: Brexit meeting, advertising, lending, Sainsbury's
Theresa May summoned her cabinet to an emergency meeting on Wednesday afternoon to sign off her long awaited final Brexit deal, prompting hard-Brexit Tories to call for senior ministers to stand up and block it. The critical meeting is the culmination of months of negotiations and will see May’s senior ministers consider whether they can personally endorse the agreement that the prime minister has been able to reach. - Guardian.
Smiths Group to spin out medical division, Prudential sees accelerated profit growth
London open The FTSE 100 is expected to open 27 points lower on Wednesday, having closed up 0. 01% at 7,053. 76 on Tuesday.
London pre-open: Stocks to drop as May faces cabinet showdown over Brexit deal
London stocks were set to fall at the open on Wednesday following a downbeat session on Wall Street, with Brexit firmly in focus after Theresa May agreed the text of a draft withdrawal agreement with the EU.