London close: FTSE shrugs off Asian tech selloff; Croda, Unilever rally
London stocks ended firmly in the black on Tuesday, with Croda and Unilever pacing the gains after results, as investors shrugged off a tech selloff in Asia.
Wednesday preview: FOMC announcement, Reckitt results eyed
The latest policy announcement from the Federal Reserve will be among the highlights on Wednesday, along with results from consumer goods giant Reckitt Benckiser and US tech firm Microsoft.
Europe close: Stocks rise despite overnight tech sell-off
European stock markets closed higher on Tuesday despite another sharp sell-off in Asian technology shares amid concerns about borrowing levels among artificial intelligence companies.
Broker tips: Wheaton Precious Metals, Admiral, PensionBee
Analysts at Berenberg reiterated their 'buy' rating on Wheaton Precious Metals on Tuesday, trimming their target price from 11,900p to 11,700p but stressing that the streaming group remains in a league of its own compared with peers.
Boeing reports narrower loss, books another Air Force One charge
Boeing reported a narrower second-quarter loss on Tuesday as higher commercial aircraft deliveries boosted revenue and helped the US planemaker return to positive free cash flow, although another charge related to its delayed Air Force One programme weighed on earnings.
RBC Capital upgrades PensionBee to ‘outperform’
RBC Capital Markets upgraded PensionBee on Tuesday to ‘outperform’ from ‘sector perform’ as it said it sees a more exciting near-term investment case, having taken a cautious stance on the stock at initiation.
Mercedes-Benz cuts full-year sales, revenue forecasts
Mercedes-Benz cut its full-year sales and revenue forecasts on Tuesday as worsening conditions in China outweighed stronger demand elsewhere, with second-quarter car sales in the country plunging 30% amid intense competition from local manufacturers and cautious consumer spending.
Revenue up, earnings down at Entain's BetMGM venture
Entain and MGM Resorts’ BetMGM reported second-quarter net revenue of $711m on Tuesday, up 3% year-on-year, as an 8% increase in iGaming revenue to $483m offset flat online sports revenue of $228m.
Director dealings: Motorpoint non-executive director raises stake
Motorpoint Group revealed on Tuesday that non-executive director Keith Mansfield had acquired 43,124 ordinary shares in the London-listed used vehicle retailer.
FTSE 100 movers: Unilever rallies after lifting outlook; Barclays slumps
London’s FTSE 100 was 0. 9% higher at 10,873. 28 in afternoon trade on Tuesday.
GSK launches £2bn cost savings drive, confirms new Cambridge hub
GSK unveiled sweeping cost-saving plans on Tuesday as part of moves to ramp up research and development, including a £400m investment in the UK.
US open: Stocks mixed ahead of big tech results, key Fed call
Wall Street trading got off to a mixed start on Tuesday as market participants geared up for a heavy week of mega‑cap earnings and a closely watched Federal Reserve decision.
Shares in LVMH on back foot despite sales spark
Shares in LVMH lost their shine on Tuesday, after second-quarter numbers from the French luxury house underwhelmed.
FRC fines EY £1.2m for Made.com audit failures
The Financial Reporting Council said on Tuesday that it has fined EY and a partner at the accountancy firm £1. 2m for failures related to its audit of online furniture retailer Made. com.
US house prices inch higher in May
US house prices edged higher in May, according to the latest seasonally adjusted figures from the Federal Housing Finance Agency.
Barclays shares fall despite profits beat
Shares in Barclays fell 5% on Tuesday despite the UK bank delivering a better than expected 17% jump in half-year profits driven by higher income in its global markets division and investment banking fees.
Coats holds guidance as interim profits jump, shares spark
Coats Group shares jumped on Tuesday after the industrial thread and shoe component maker said full‑year expectations remain unchanged and reported a rise in half-year profit, with the company expecting good year‑on‑year earnings growth despite continued softness in apparel and footwear markets.
US goods trade gap narrows, wholesale inventories continue to climb
America's goods trade deficit narrowed in June, while wholesale inventories continued to rise, according to preliminary figures from the Census Bureau, offering a mixed picture of underlying demand and supply‑chain conditions across the US economy.
Ocado said to have abandoned pursuit of £190m payment from M&S
Ocado has reportedly quietly abandoned its pursuit of a £190m payment from Marks & Spencer following a dispute related to their online grocery joint venture.