- Revenues up 40% in first quarter - Past investments paying-off - CEO Dardis steps down as planned Thirsty Brits continue to power sales momentum for pubs and hotels group Young & Co (YNGA:AIM), which saw a 34.9% rise in like-for-like sales in the first 13 weeks of fiscal 2023. Revenues for the period rose 39.7%. Investors broadly welcomed the news, with the shares gaining 0.6% to ...

The week's calm start had deteriorated by midday on Tuesday, with European stock prices tumbling and the euro hitting twenty-year lows against the dollar as recession fears once again gripped markets following some weaker European data. UBS said the turbulence of the first half of 2022 is likely to persist in the remaining six months of the year. ‘A more durable improvement in market ...

- Shares fall on disappointing outlook for insurance - New one year product will dilute margins - De-rating reflects concerns over earnings recovery Shares in over 50’s services group Saga (SAGA) dropped as much as 4.5% to 159.5p following the release of a trading update to coincide with its AGM (annual general meeting). The firm revealed a combination of headwinds for the insurance ...

- Second warning in as many months as lighting sales slide - Slashes dividend to earnings payout ratio - Stock has lost 30%-plus since its IPO in February 2021 A warning on fiscal 2023 revenues and profits cast a long shadow over vaping kit supplier Supreme (SUP:AIM), sending the share price tumbling. The company behind the 88Vape brand said revenues and underlying earnings were likely ...

- Grocery spending offsets slump in non-food - Record sales of alcohol over Jubilee weekend - Full year pre-tax profit target maintained Shares in supermarket Sainsbury’s (SBRY) inched up 2p to 211p after the firm posted an unexceptional first quarter trading update but kept to its full year profit guidance. Sales for the 16 weeks to late June were saved by the Jubilee ...

European equities were steadying on Tuesday, though with the FTSE 100 lagging the bunch despite a well-received trading update from blue-chip grocer J Sainsbury. Things should heat up as the week progresses, however, with central bank meeting minutes and a monthly US jobs report in focus. Locally, investors are awaiting a UK services PMI at 0930 BST on Tuesday. ‘Yesterday's national ...

Stocks in London ended mixed on Monday in a light trading session as US markets were closed for Independence Day, with oil stocks lifting the FTSE 100 to the green on higher Brent prices. The FTSE 100 index closed up 64.00 points, or 0.9%, at 7,232.65. The FTSE 250 index closed down 44.03 points, or 0.2%, at 18,592.95. The AIM All-Share index closed up 0.19 of a point at 875.02. The Cboe UK ...

- US body upholds 2018 judgement on royalties - Ultimate outcome is a 44% rise in streaming rates - Impact on cash more significant than revenues Shareholders in music royalty investment firm Hipgnosis (SONG) started the week with a small celebration after a positive US ruling on streaming fees. The shares climbed 3% to 111.5p following news the Copyright Royalty Board had dismissed an ...

-Shares fall 11% on broker downgrade -Business has defensive traits -Earnings expectations for 2023 are modest Shares in pet supplier Pets at Home (PETS) slumped 11% following a downgrade from market perform to underperform from broker RBC Capital Markets. The broker has lowered the share price target from 330p to 280p. A VALUATION ARGUMENT The principal argument for RBC’s ...

It was an upbeat start on Monday for Europe, despite significant risk events, such as the monthly US jobs report and Federal Meeting meeting minutes, due later this week. Trading volumes were low with Wall Street sitting Monday’s session out due to the Independence Day holiday. ‘The July 4 independence holiday in the US will likely allow some respite from the recent market turmoil. That ...