Market Pulse
Wednesday broker round-up
Acacia Mining: Credit Suisse downgrades to Neutral with a target price of 200p.
UK economic growth remains lacklustre in second quarter
UK economic growth remained tepid in the second quarter, according to the Office for National Statistics, though the initial estimate for gross domestic product was in line with economists' forecasts.
Jupiter reports 16% rise in assets on strong net inflows
Asset manager Jupiter Fund Management saw a 16% increase in its assets under management in the first half of 2017, the firm reported on Wednesday.
US pre-open: Stocks seen flat ahead of more earnings, Fed
US futures pointed to a muted open on Wall Street on Wednesday as investors awaited more earnings and a rate announcement from the Federal Reserve.
GKN H1 profits and revenue up but margins drop, aerospace unimpressive
Engineer GKN reported a jump in first-half profits on Wednesday as it said it has closed its UK defined pension scheme, but margins were down across the board and the performance of the aerospace division failed to impress.
Asia report: Markets mixed as dollar stagnates
Markets in Asia were mixed on Wednesday, with traders focussing on a higher oil price as well as a stagnant dollar, ahead of the Federal Open Market Committee’s two-day policy meeting finishing.
Metro Bank swings to profit as customer accounts pass one million
Challenger bank Metro reported its results for the first half of 2017 after the close on Tuesday, swinging to a profit for the first time since its stock market debut in March of last year.
Brewin Dolphin posts record third-quarter income
FTSE 250 wealth manager Brewin Dolphin reported record income for the third quarter on Wednesday as total funds rose 3. 7%.
Paragon trading 'strong' after solid third quarter
Specialist lender and banking group Paragon reported “strong” new business for the financial year-to-date on Wednesday, with a further £575. 7m in new lending completed in the third quarter, taking aggregate advances to £1. 44bn for the nine months since 1 October.
HICL consortium wins bid for Liverpool's Burbo Bank windfarm
HICL Infrastructure Company is part of a consortium that has won the tender from electricity regulator Ofgem to own and operate the offshore transmission link to the Burbo Bank Extension windfarm in Liverpool Bay.
Sage Group unveils cloud acquisition, but growth slows in third quarter
Sage Group reported slowing third quarter trading and guidance for the full year, as it put out a pair of announcements after hours on Tuesday that also included its largest ever acquisition.
Europe open: Stocks in the black as earnings roll in; Fed announcement eyed
European stocks edged up in early trade on Wednesday as investors sifted through more earnings and eyed the latest policy announcement from the Federal Reserve.
London open: Stocks edge higher ahead of UK GDP, Fed rate announcement
London stocks edged higher in early trade on Wednesday as investors waded through a deluge of earnings ahead of the release of UK gross domestic product data and a policy announcement from the Federal Reserve.
Zinc production shines in Vedanta's first quarter
Vedanta saw a number of production improvements in its first quarter, it reported on Wednesday, including an 84% rise in mined metal production at Zinc India to 233 kt, with refined zinc-lead metal production ahead 80% year-on-year at 228 kt.
PayPoint organic revenue grows despite UK retailer churn
PayPoint’s group organic revenue grew 4. 2% to £28. 4m in its first quarter, it reported on Wednesday, with UK retail services net revenue improving 10. 5%.
ITV broadcasts confident outlook as interim profits tumble
ITV upped its interim dividend as a show of confidence in the underlying business as first-half profits fell 8%, with a decline in advertising sales joined by fall in production profits due to higher investment and timing of shows.
Fresnillo makes good progress with silver and gold production
Quarterly silver production at Fresnillo was up 11. 7% year-on-year in the second quarter to 14. 5 Moz including Silverstream, the company reported on Wednesday, with first half production up 11. 2% year-on-year.
Berendsen H1 profit drops amid UK market challenges
Commercial laundry company Berendsen, which has agreed to be taken over by French rival Elis, posted a 5. 6% drop in half-year profit on Tuesday amid a deteriorating UK performance.
3i Group makes 'busy' start to financial year
It was a busy start to the year for 3i Group, it reported on Wednesday, with a net asset value per share of 628p and total return of 4. 1% as at 30 June.
London pre-open: Stocks seen muted ahead of GDP, FOMC
London stocks were set for a muted open on Wednesday as investors eyed the release of UK gross domestic product data and a policy announcement from the Federal Reserve.