Private capital investment firm CVC Capital Partners hopes to get an IPO (initial public offering) away at the third attempt later this month. The London-based buyout giant, which owns stakes in Liptons Tea, upmarket watch maker Breitling, Six Nations Rugby as well as the commercial rights to French and Spanish top-flight football, has been plotting a stock market listing for years. CVC said t...

Shares in PageGroup fell 6% to 456p after the recruitment firm reported a 12.8% fall in group gross profit to £219.7 million for the first quarter of 2024. CEO Nicholas Kirk warned: 'The slower end to the fourth quarter of 2023 continued into the first quarter 2024, particularly within continental Europe. Overall, activity levels remain strong, however we experienced a slight deterioration i...

Inchcape's shares revved up 4.5% to 730p on news the global automotive distributor has agreed to sell its UK car retail operations to a US rival for £346 million in cash. The disposal, which follows a strategic review launched in January, will allow Inchcape to focus on its higher margin and more resilient global distribution business. The London-headquartered company also plans to return £...

THIS IS AN ADVERTISING FEATURE For roughly 80 years, rapid industrial production growth defined the U.S. economy. Starting in the early 2000s, however, the U.S. industrial production machine began a two-decade stagnation. But things are changing. Deglobalization and re-shoring are gaining momentum, and developed economies want to strengthen their supply chains. To mitigate economic and geop...

THIS IS AN ADVERTISING FEATURE Advancements in artificial intelligence (AI) and robotics could revolutionize the industrial sector, leading to a significant increase in the use of automation. Automation is expected to transform production lines, likely elevating human workers to manage robots, boosting overall productivity and output. Capital investments spurred by government policies and...

Facilities management and business service firm Mitie Group surprised the market with stronger-than-expected fourth-quarter results and a fresh £50 million share buyback. The shares climbed 6p or 5.5% to a new five-year high of 117.5p on above-average trading volume. STRONG DEMAND FOR SERVICES In its third-quarter trading statement the group posted a 14% increase in revenue and guided to mid...

THIS IS AN ADVERTISING FEATURE The mining sector is not homogenous. On the BlackRock World Mining Trust, we believe this year its fortunes may be particularly disparate, as a range of factors weigh on individual commodities and regions. As we see it, there are three key factors that will determine the performance of mining companies for the remainder of 2024: geopolitics, global growth and...

London's FTSE 100, the outperformer on Friday as investors fretted over a possible escalation in the Middle East, was the laggard on Monday in the wake of Iran's strikes on Israel over the weekend, as the blue-chip index's oil majors tracked crude prices lower. Large-cap benchmarks in Frankfurt and Paris, which fell on Friday, were on the up on Monday. Stocks in New York tumbled at the end of...

The FTSE 100 achieved a solid gain and almost hit its best-ever level on Friday, with its mining and oil producing contingent sparing it from declines seen in equities elsewhere. Shares in Frankfurt and New York failed to find their feet as investors fretted over rising tensions and US interest rate worries. The FTSE 100 index ended up 71.78 points, 0.9%, at 7,995.58, closing below the 8,000 p...

Stocks in London were higher on midday Friday with miners, housebuilders and oil majors rising amid news that the UK is exiting a mild and short recession. The FTSE 100 index was up 96.05 points, 1.2%, at 8,019.85. The FTSE 250 was up 125.41 points, 0.6%, at 19,912.28, and the AIM All-Share was up 2.87 points, 0.4%, at 761.70. The Cboe UK 100 was up 1.3% at 802.07, the Cboe UK 250 was up 0.6%...

Harry Hyman, CEO of FTSE 250-listed REIT (real estate investment trust) Primary Health Properties has bought 74,890 shares at a total value of £68,862.40 on 9 April. Hyman's move comes after research firm Peel Hunt gave Primary Health Properties a bullish rating after reporting a strong set of full year results. The REIT reported net rental income of £149.3 million for 2023, a 5.5% increase...

Raw materials group SigmaRoc signaled a positive start to 2024 ahead of its AGM (annual general meeting) and said the board was 'confident in the firm's ability to make further progress in the current year and beyond'. The shares gained 0.6p or 1% to 64.4p in line with other mining and materials stocks. GROWING FAST The group said its performance in the first three months of the year had been...