Market Report
TSB swings to full-year profit
TSB Bank said on Thursday that it swung to a full-year profit, underpinned by record mortgage lending and an improved economic outlook.
Revenue grows, EBITDA loss widens for ITM Power
Energy storage and clean fuel technology company ITM Power reported revenue of £4. 2m in its interim results on Thursday, up from £0. 2m year-on-year, with that prior year figure reflecting the impact of Covid-19 issues in 2020.
Speedy Hire launches £30m share buyback as revenue grows further
Tools and equipment rental provider Speedy Hire said in a trading update on Thursday that the positive trading momentum in its first half continued into the third quarter, including further contract wins and renewals.
London midday: Stocks turn positive as banks rally after hawkish Fed
London stocks had moved into the black by midday on Thursday, with banks pacing the advance after the US Federal Reserve struck a hawkish note overnight.
US pre-open: Futures in the red following FOMC meeting
Wall Street futures were in the red ahead of the bell on Thursday following the outcome of the Federal Reserve's two-day policy meeting.
Europe midday: Shares pare losses after Fed-inspired slump
European shares pared losses at midday after a slump at the opening on Thursday, reacting to a deluge of corporate news following hawkish comments on interest rate timings from US Federal Reserve chairman Jerome Powell.
Europe open: Shares slump on Fed remarks, Dr Martens gets the boot
European shares slumped at the opening on Thursday, tracking losses on Wall Street after US Federal Reserve chairman Jerome Powell signalled a March interest rate hike and more policy tightening in an attempt to quash rising inflation.
Asia report: Technology plays lead post-Fed tumble
Markets were weaker across the board in Asia on Thursday, as investors reacted to the outcome of the US Federal Reserve’s latest two-day policy meeting overnight.
RBC Capital downgrades Fresnillo, slashes price target
RBC Capital Markets downgraded precious metals miner Fresnillo on Thursday to ‘sector perform’ from ‘outperform’ and slashed the price target to 575p from 1,025p.
IPM acquisition underpins NCC revenue, earnings per share weaker
Cybersecurity specialist NCC Group reported 14. 7% growth in revenue at constant currency in its first half on Thursday, or 10. 7% at actual rates, to £150. 1m, driven by its acquisition of IPM.
UK car production falls to 66-year low in 2021
UK car production fell to its lowest level since 1956 last year, according to the Society of Motor Manufacturers and Traders, with just under 860,000 new cars leaving British factories in 2021.
IG Group posts record revenues after transition to global outfit with 'local' focus
IG Group posted strong top-line growth boosted by a jump in the numbers of active and new clients.
Berenberg initiates coverage on Harmony Energy
Analysts at Berenberg initiated coverage on renewable energy business Harmony Energy, stating the firm was its 'preferred pick' in the sector as its longer-duration batteries would likely drive higher returns.
Deutsche Bank posts surprise Q4 profit
Deutsche Bank posted a surprise fourth-quarter profit on Thursday, driven by improved investment banking revenues.
ICG assets under management rise as it maintains 'strong' pipeline
Intermediate Capital Group reported third-party assets under management of $67. 2bn at the end of its third quarter on 31 December - an increase of 3% over the quarter and 23% for the last 12 months.
Polymetal production above guidance as costs increase
Polymetal International reported a 2% improvement in gold equivalent production for 2021 on Thursday, at 1,677,000 ounces - 5% above its original production guidance of 1. 6 million ounces.
Russian forces in Belarus will not remain in country after February drills
The Russian rouble strengthened slightly, recouping some of the prior session's losses, after Belarus indicated that Russian troops in the country would not remain in the country following military drills planned for February.
Foxtons FY profit seen at top end of market expectations
Estate agent Foxtons said on Thursday that 2021 profit was set to come in at the top end of market expectations, with revenues for the year up across all of its business segments.
AO World to review German operations amid rising costs and falling revenues
Online electricals retailer AO World said on Thursday that it would review its German operations amid rising costs and falling revenues.
Wheels Up to buy Air Partner in £84.8m deal
Aviation services group Air Partner surged on Thursday after it agreed to be bought by US private aviation company Wheels Up in a £84. 8m deal.