Market Pulse
Europe midday: Ibex smashed as Catalan rebels testify in court
European stock markets slunk lower by midday on Thursday, weighed down by poor results from various corporate heavyweights and renewed euro strength after growth forecasts for the bloc were upgraded.
London midday: Stocks wallow as pound flattened by EC growth projections
London stocks slipped deeper into the red by midday on Thursday as investors waded through a torrent of mixed corporate news, with the pound giving back earlier gains after the European Commission cut its economic growth forecasts for the UK on the back of Brexit uncertainty.
US pre-open: Stocks seen lower ahead of tax bill details
US futures pointed to a mildly weaker open on Wall Street on Thursday as investors braced for more earnings news and details on the Senate’s tax bill.
Credit Suisse raises target price on Tullow Oil
Tullow Oil raised its production guidance on Wednesday thanks to higher than expected output from its TEN and Jubilee fields in Ghana, leading research analysts at Credit Suisse to up their target price on the group's shares from 205p to 240p.
Inmarsat determined to grow in-flight internet at expense of profits
Satellite operator Inmarsat reported higher third quarter revenues thanks to encouraging maritime sales but lower profits as it continues to invest in grabbing market share in airline in-flight internet.
Arrow aims to expand international portfolio, bounces back from 2016 Q3 loss
UK-based debt collector Arrow Global grew profits in the nine months leading to 30 September, bouncing back from a one-off loss suffered in its third trading quarter of 2016, despite increased costs associated with the recovery of loans.
Gattaca unable to turn a profit despite increased revenues
Net fee income (NFI) grew in line with market expectations at British human capital resources group Gattaca's over the financial year ended 31 July, but the firm failed to translate its increased revenues into profits.
JP Morgan sees scope for Wizz Air valuation discount to narrow
Analysts at JP Morgan boosted their target price on shares of Wizz Air following the budget carrier's second quarter figures.
Investec upgrades Dixons Carphone, says further downgrades unlikely
Investec has upgraded its stance on Dixons Carphone to ‘buy’ from ‘hold’, keeping the price target at 185p.
Hikma Pharmaceuticals cuts generics guidance again
Hikma Pharmaceuticals cut forecasts for its generics business on Thursday for the third time this year as it pointed to challenging market conditions in the US.
Countrywide warns full year will be at lower end of market views
Estate agency Countrywide cautioned on Thursday that it expects results for the full year to be towards the lower end of the range of market expectations as housing transactions slow across the UK.
SuperGroup on trend for profits after strong first half
SuperGroup, owner of the Superdry fashion brand, said it was on track to meet expectations for annual profit after a strong first half.
Sainsbury's profits fall in first half despite inflation and cost cutting
Sainsbury's reported slowing sales in the second quarter and a 9% fall in underlying profits for the first half of the year, though the supermarket group expects growth to improve in the second half.
Grafton revenue rises, reaffirms outlook
FTSE 250 builders merchant Grafton posted a rise in revenue for the 10 months to the end of October as it reaffirmed its expectations for the year.
Derwent London staring down another record year for lettings
Derwent London updated the market on its third quarter trading on Thursday, claiming it was staring down another record letting year, reporting that it has let or pre-let 674,800 square feet achieving £41. 2m pa of rent in the year-to-date.
Renewi performs better than expected in first half
Waste-to-products business Renewi reported revenue on a pro forma basis of £782. 9m for its first half on Thursday, up 4% at constant currency or 11% at actual rates.
Vectura sinks to four-year low as generic Advair pushed back
Vectura and Hikma Pharmaceuticals hope a dispute resolution process with US drug regulators will their enable their generic version of GlaxoSmithKline’s Advair asthma treatment to overcome an outstanding hurdle.
Redrow highlights slowdown in recent weeks
FTSE 250 housebuilder Redrow said on Thursday that trading in the first 18 weeks of the current financial year has been in line with expectations, but it also highlighted a slight slowdown in sales in recent weeks amid ongoing political and economic uncertainty.
IMI signals slightly above-market expectations after Q3
Specialist engineering company IMI said progress with its strategic initiatives continued in the third quarter on Thursday, with expectations for the year slightly ahead of market estimates.
Auto Trader profit and revenue rise, confident over outlook
Auto Trader reported a 10% jump in interim profit on Thursday as it expressed confidence in delivering its growth expectations for the rest of the year.