Market Pulse
UK mortgage approvals tick lower in June
UK mortgage approvals fell in June, albeit less than expected, according to data released by UK Finance.
Commodities: Brent rally continues as inventories decline
Brent crude continued its rally higher on Wednesday, fuelled by a reduction in oil inventories from the US, which fell by 7. 2m barrels, versus expectations for a smaller drop of 3. 3m.
Europe close: Stocks end higher amid earnings news; Fed in focus
European stocks ended higher on Wednesday as investors sifted through more earnings and eyed the latest policy announcement from the Federal Reserve.
London close: Stocks close slightly higher as ITV rallies; UK GDP digested
London stocks ended Wednesday's session sightly higher following a well-received update from broadcaster ITV and a deluge of other earnings news, as investors digested the latest reading on the UK economy, which met expectations.
RBS to offer £775m to encourage SMEs to switch to challenger banks
Royal Bank of Scotland will be required to set up a £425m innovation fund and a £350m scheme to encourage SMEs to switch their accounts, both administered independently with grants paid to challenger banks and fintech companies to boost competition in the sector.
Thursday preview: Lloyds, Shell, BATS, Diageo lead results deluge
Thursday's tsunami of numbers sees a stupidly large number of large companies all reporting on the same day, including at least a dozen FTSE 100 companies and at least as many from the FTSE 250.
US open: Stocks gain amid well-received earnings; Dow breaches 21,700
US stocks rose in early trade on Wednesday thanks to some well-received corporate news, as investors looked ahead to a rate announcement from the Federal Reserve.
US new homes sales rise less than expected in June
Sales of new US single-family homes rose a little less than expected in June, according to official data released on Wednesday.
Unite Group lifts dividend as profits slide
Student accommodation manager and developer Unite Group reported a “strong” financial performance in its first half, with EPRA earnings up 12% to £40. 4m, or 18p per share.
Echo Energy upbeat after signing of technical evaluation agreement at Rio Salado
South and Central America-focussed upstream gas company Echo Energy announced the signature of a technical evaluation agreement (TEA) for the Rio Salado Block, onshore Bolivia on Wednesday.
GSK cuts full year earnings target and sets out new 2020 priorities
GlaxoSmithKline cut its full year guidance for earnings per share to 3-5% at constant exchange rates from the previous 5-7% after sales growth slowed in the second quarter, while a new strategic rejig will see a flat dividend next year.
Motorpoint performance continues in first quarter
Independent vehicle retailer Motorpoint saw the improved performance in the second half of its previous financial year continue into the first quarter, its shareholders heard on Wednesday, with the rate of sales growth maintained and the group’s gross margins remaining in line with expectations.
Animalcare trading in line as it changes accounting date
Veterinary medicine supplier Animalcare Group said trading for the year ended 30 June was in line with current market expectations, as it changed its accounting date to 31 December as part of the acquisition of Ecuphar, completed on 13 July.
FTSE 100 movers: ITV rallies on update; GSK drops after cutting guidance
London's FTSE 100 was up 0. 3% to 7,457. 60 in afternoon trade as investors continued to mull over the latest UK GDP release.
Fevertree co-founder pockets £29m from share sale
Fevertree Drinks chief executive and co-founder, Tim Warrillow, has sold £29m worth of shares in the company.
London midday: Stocks hold gains as GDP meets expectations
London stocks were maintaining gains by midday as investors waded through a deluge of earnings and digested the latest reading on the UK economy, which met expectations.
Joules profits jump in first full year since floating on AIM
Profits at retailer Joules jumped in its first full year since floating on AIM as revenue rose thanks to strong international and online growth.
Europe midday: Stocks extend gains as investors mull earnings; Fed eyed
European stocks had extended gains by midday as investors sifted through more earnings and eyed the latest policy announcement from the Federal Reserve.
Mobile Streams celebrates subscriber numbers while revenue plummets
Emerging markets-focussed mobile media company Mobile Streams reported a quadrupling of active subscribers in its primary Indian market during its financial year on Wednesday, with more than 200,000 members as at 30 June.
Harworth makes progress at AMP and Waverley
Brownfield regeneration and property investment specialist Harworth Group signed a conditional 20-year lease with McLaren Automotive on a new 75,000 square foot bespoke unit at the Advanced Manufacturing Park, it announced on Wednesday.