Cranswick shares crash as it unveils turkey of a trading update February 7, 2019 Shares in FTSE 250-listed food producer Cranswick took a pounding this morning after it revealed its operating margin may decline next year. Cranswick’s shares were trading down 15 per cent at 2,504p around midday, having fallen as low as 2,340p earlier in the day. Read more: Greencore bags The Sandwich Factory from Cranswick in tasty [...]
Bank of England slashes UK growth forecasts amid Brexit uncertainties and global slowdown February 7, 2019 The Bank of England today decided to leave interest rates unchanged as expected, but slashed UK growth forecasts as Brexit uncertainties mount. The bank's monetary policy committee (MPC), which last raised rates to 0.75 per cent in August last year, unanimously voted to hold interest rates for a fourth consecutive meeting. Read more: How will the [...]
Betting stocks stumble after horse racing suspended due to equine flu February 7, 2019 Betting stocks slipped this morning after horse racing across the UK was suspended today because of fears of equine flu. William Hill's share price fell nearly one per cent, GVC's share price was down 1.7 per cent and Paddy Power Betfair was down 1.6 per cent. In a statement the British Horseracing Association (BHA) said [...]
Compass shares near all-time high after strong revenue growth February 7, 2019 Shares in Ftse 100 food services business Compass jumped more than 4 per cent this morning to near an all-time high after a strong trading update. Compass said its organic revenue in the three months to 31 December grew 6.9 per cent which it said was driven by new business wins, good retention rates, a [...]
Equinor falls short of expectations as production set to remain flat in 2019 February 6, 2019 Norwegian state oil producer Equinor slipped up on falling oil prices, as earnings failed to live up to expectations in the fourth quarter. Earnings hit $1.5bn (£1.2bn) after tax in the quarter, up from $1.3bn in the same period last year. Read more: BP more than doubles profit in bumper 2018 Meanwhile, adjusted earnings rose [...]
Cuadrilla boss pleads for fairer treatment after good results at Lancashire fracking site February 6, 2019 The chief executive of Britain’s first fracker has called on the government to review its limits on earthquakes caused by drilling. Francis Egan said his company, and other shale gas explorers, were being treated unfairly when compared to other industries, which are allowed to cause much more violent tremors. Read more: Jim Ratcliffe: Government's shale [...]
Opec exports to US fall to a five-year low as cartel cuts its output February 6, 2019 US oil imports from Opec countries have dropped to five-year lows as the oil producing cartel cuts output, while US domestic production grows. Opec’s sales to the world’s biggest economy fell 22 per cent month-on-month and 37 per cent year on year, to 1.4m barrels per day, data from energy intelligence company Kpler shows. Read [...]
The yield curve explained: is it predicting recession? February 6, 2019 | City Talk The yield curve has been a reliable predictor of US recessions over the last four decades. Each time the yield curve has inverted, the US economy has entered a downturn within 18 months. At the start of 2019, the curve is precipitously close to inverting again. The yield curve is the difference between the interest [...]
Will Wirecard wave goodbye to the DAX? February 5, 2019 | City Talk Questions are being asked about whether Wirecard AG deserves its generous valuation – and it’s newly won place in the DAX – following allegations of fraud. Munich-based fintech company Wirecard unseated Commerzbank – a stalwart of the DAX since 1988 – to become a member of the DAX in September 2018. The firm won its [...]
Enquest hits expectations as production grows by half February 5, 2019 Oil producer Enquest is focusing on paying down its debt as production looks set to soar this year. Shares rose 2.95 per cent to 19.56p in the mid-afternoon as the company showed a 48 per cent rise in output to 55,400 barrels of oil equivalent per day in 2018. Read more: EnQuest agreed to buy [...]