Market Report
Thursday newspaper round-up: Car productions, rents, Tesla, Sensyne Health
The lowest number of cars rolled out of British factories last year since 1956, as the industry warned that rising energy costs and further shortages of computer chips will plague its recovery. Car production slumped across the UK and the world in 2020 as the coronavirus pandemic swept across the globe, but many in the industry had expected a rapid improvement. Instead, the disruption triggered a global shortage of semiconductor chips, leading to an even worse 2021.
London close: Stocks mixed after 'contradictory' US Fed
London stocks were in a mixed state at the close on Thursday, with banks pacing the top-flight index’s advance, after the US Federal Reserve struck a hawkish note overnight.
BioVision acquisition helps lift Abcam in 2021
Life science supplier Abcam said in a trading update on Thursday that it expected total revenues of around £315m for 2021, representing growth of more than 22% at constant exchange rates, and 17% on a reported basis.
UK insurer First Central said to be considering £600m sale
UK insurer First Central is reportedly considering a sale that could value the business at about £600m.
Broker tips: Tate & Lyle, DotDigital, Fresnillo, Harmony Energy
Barclays resumed its 'overweight' coverage on Tate & Lyle on Thursday with a 930. 0p price target as it pointed to a "new era" with significant total shareholder return potential.
Idox reports solid growth following content disposal
Information management software company Idox reported revenue from continuing operations of £62. 2m in its final results on Thursday, up 9% year-on-year, which included a 5% organic increase.
FTSE 250 movers: Mitie jumps; Dr Martens on the back foot
London’s FTSE 100 was 0. 3% firmer at 21,812. 21 in afternoon trade on Thursday.
Dotdigital performs in line with expectations in first half
Marketing software-as-a-service (SaaS) company Dotdigital said in a trading update on Thursday that it was expecting a first half performance in line with full-year market expectations.
Jadestone Energy meets 2021 production guidance
Asia-Pacific oil and gas production company Jadestone Energy reported average 2021 production of 12,545 barrels of oil equivalent per day in a trading update on Thursday, in line with expectations and its guidance range.
FTSE 100 movers: Banks rally; Fresnillo slumps again
London’s FTSE 100 was up 1. 2% at 7,560. 67 in afternoon trade on Thursday.
Strix net debt widens as it combats price rises
Kettle safety and water technology company Strix reported positive second half momentum in a trading update on Thursday, having achieved 30% revenue growth on a constant-currency basis, and profit after tax in line with market expectations for 2021.
US open: Stocks higher as investors digest Fed comments, advance GDP reading
Wall Street futures were in the green as trading began on Thursday following the outcome of the Federal Reserve's two-day policy meeting and a number of data points early in the session.
File-sharing company WeTransfer cancels IPO plans
File-sharing company WeTransfer announced on Thursday that it no longer plans to list on the Amsterdam Stock Exchange.
McDonald's quarterly earnings fall short as heightened costs weigh on profits
Fast-food giant McDonald's posted quarterly earnings and revenues that fell short of analysts' expectations on Thursday as increased costs weighed on profits.
Barclays resumes coverage of Tate & Lyle at 'overweight'
Barclays resumed its ‘overweight’ coverage on Tate & Lyle on Thursday with a 930p price target as it pointed to a "new era" with significant total shareholder return potential.
US initial jobless claims fall for first time in 2022
Initial jobless claims fell for the first time in four weeks in the seven days ended 22 January, slipping 260,000 from the prior week's upwardly revised print of 290,000, according to the Labor Department.
Increased pet ownership sees demand rise at CVS Group
Veterinary service provider CVS said in a trading update on Thursday that its first half revenue was up 11. 4% year-on-year to £273. 7m, with underlying revenue growth coming in at 13. 2%.
Mortgage Advice Bureau flags strong 2021 revenue growth
Mortgage Advice Bureau said in a trading update on Thursday that it was expecting revenue for 2021 to be 27% higher year-on-year at around £188m, despite the regulatory approval of new appointed representative firms taking longer than in previous years.
Canaccord Genuity lowers target price on DotDigital
Analysts at Canaccord Genuity cut their target price on software firm DotDigital from 265. 0p to 205. 0p on Thursday but stated the group still appeared to be on track for profitable double-digit growth.
Keywords Studios hikes guidance further amid 'buoyant' market
Keywords Studios increased its guidance for full-year trading on Thursday, amid high levels of demand in a strong video games market.