The broker noted that Close Brothers shares have fallen back towards 400p, underperforming the wider sector despite no meaningful deterioration in the investment case."Motor finance uncertainty continues to weigh on sentiment, but recent legal and regulatory developments appear largely procedural…
The German bank said Brooks now offers a holistic wealth‑management service across investment management and financial planning for both advisers and private clients. While the evolution to this model had created short‑term earnings headwinds, Berenberg said it expected the business to return to ea…
The eurozone composite PMI, which tracks business conditions across both the services and manufacturing sectors, rose to 50 points last month – marking no change in activity after two months of declines.This was up from 48.5 in May and the flash estimate of 49.5 released two weeks ago, and with fig…
Marks is now commencing a process to appoint a successor. Pallatt, who remains a director of the company, will continue to fulfil his current role, which will include "supporting and facilitating a smooth transition".A further announcement will be made as appropriate, the company said in a very bri…
Replacing Whibley will be Richard Sowerby, a Dowlis executive director and experienced board-level CFO who previously worked for Altitude in a number of senior capacities, including CFO in 2013 before progressing to executive chairman. Most recently, Sowerby served as a non-executive director for t…
Tate & Lyle said the document sets out the full terms of the proposed acquisition, which was to be implemented via a court‑sanctioned scheme of arrangement and will require approval from shareholders at both the court meeting and general meeting, scheduled for 28 July.Subject to shareholder backing…
The RatingDog China general services purchasing managers’ index, compiled by S&P Global, fell to 54.1 from 54.4 in May, beating expectations for a reading of 53.0. A reading above 50 indicates expansion, while a reading below signals contraction.The composite output index dipped to 53.6 in June fro…
The 3.5% stake was placed at 205p a share with gross proceeds of £112m. EIG, a US-based private equity firm, started the company in 2014 with a plan to build a “new global, independent oil and gas company by acquisition”, according to Harbour’s website.Reporting by Frank Prenesti for Sharecast.comS…
Craneware, which provides financial software and solutions to the US healthcare market, now expects revenues for the 12 months to 30 June to be $205m-208m and adjusted EBITDA of $65m-67m, with both broadly in line with last year.That followed growth of 6% and 10% in revenues and profits in the firs…
STOCKS TO WATCHHarbour Energy founder EIG said it had sold its remaining stake in the oil company via a secondary placing of 54.77m shares to institutional investors by way of an accelerated bookbuild. The 3.5% stake was placed at 205p a share with gross proceeds of £112m. EIG, a US-based private e…
Ryanair has warned of “queue chaos” this summer at EU airports because of new fingerprint checks, as the European Commission invited the air industry to an urgent meeting next Tuesday to discuss concerns over the new entry and exit system. The airline, Europe’s largest, said passengers going on wel…
On the macro front, the China RatingDog services PMI for June will be released. Earlier in the week, figures from the National Bureau of Statistics showed that China’s manufacturing sector grew more than expected in June.The official manufacturing purchasing managers’ index rose to 50.3 from 50.0 i…
The electric car giant posted total deliveries of 480,126 over the three-month period, a 24.9% jump over last year and a record for a second quarter.According to Visible Alpha consensus, the market was looking for a sales figure just shy of 403,000.In a brief update to investors, Tesla also sold 13…
Bernberg highlighted plans to broaden JD's product range, optimise stores and step up long‑overdue investment in its online channel as it said many of the firm's recent challenges were largely external, pointing to a slowdown across the sportswear market, weaker demographics, pressure on disposable…
Clubb, who snapped up the shares in two seperate transactions, purchased the shares at an average price of 16.825p each, for a total value of £19,696.Following the transactions, Clubb holds a beneficial interest in 4.9m ordinary Team shares, representing approximately 4.27% of the company's issued…
In a brief update, the US firm said it now expects to deliver between 65,000 and 70,000 vehicles this year, up from a prior forecast of between 62,000 and 67,000 units. Fuelling the increase was stronger-than-expected second-quarter demand, after 12,194 vehicles were delivered, well ahead of consen…
London’s Upper Tribunal ordered the suspension after legal action was brought by four parties, the consumer group Consumer Voice and three lenders: Volkswagen Financial Services, Mercedes Benz Financial Services and Credit Argicole Auto Finance. The Tribunal will hear the challenges either in Decem…
The project, located 25km east of Kalgoorlie, has been granted a 21-year mining lease, renewable thereafter.Oracle said the decision followed an "exhaustive" 18-month process and is a key step in unlocking funding for the project.In September, Oracle and 50:50 joint venture with Riversgold signed a…
Bernberg highlighted plans to broaden JD's product range, optimise stores and step up long‑overdue investment in its online channel as it said many of the firm's recent challenges were largely external, pointing to a slowdown across the sportswear market, weaker demographics, pressure on disposable…
The broker said that at a circa 27% discount to its 489p/share tangible NAV, it has "some sympathy" with the view that Genel’s offer falls short of a full valuation for the Capricorn business."However, it does come from an established regional oil producer with a clear plan for funding the circa $3…
