UK stocks built on Monday’s gains as corporate earnings continued to please investors, with index heavyweight BP (BP.) surging after hinting at a substantial return of capital to shareholders. Asian markets were shaken overnight by worries of further Chinese government intervention in the private sector, this time involving the gaming industry. Shares in TenCent slumped as much as 10% at one ...

UK stocks began August on the front foot, lifted by further UK merger and acquisition activity in mid-caps. Oil and Gold prices were lower with Brent Crude down 0.9% to $74.7 per barrel and Gold was 0.4% down at $1,807 per ounce. At the close the FTSE 100 index of leading shares was up 50 points or 0.7% at 7,082 points led by aerospace and retail stocks. The mid-cap FTSE 250 index was up ...

Shares in life sciences research tools Abcam (ABC:AIM) gained 2% to £13.86 after the company agreed to acquire BioVision for $340 million in cash. The company said that Biovision is a fast-growing distributer of life science tools to biopharma firms and diagnostic and academic customers. Biovision specialises in cellular assays and epigenetics which is the study of heritable changes to a ...

UK stocks started the month on the front foot, lifted by strong gains in Asia after China signaled support for the economy and further UK merger and acquisition activity. China’s SE Composite index gained close to 2% reversing some of last week’s heavy losses while Japan’s Nikkei 225 also added 2%. Oil and Gold prices were lower with Brent Crude down 0.9% to $74.7 per barrel and Gold ...

Shares in HSBC (HSBA) only traded 1% higher despite it reporting first-half results ahead of market expectations. The earnings beat was helped by a larger than expected net provision release of £0.7 billion that flattered the group’s results. This provision related to money put aside to cover potential bad debts during the pandemic, and it has been a recurrent feature of all the UK banks ...

Shares in RIT Capital Partners (RCP) ticked 0.6% higher to £25.70 as the capital preservation trust reported an impressive 19.1% net asset value (NAV) total return for the half ended 30 June 2021, outperforming both inflation and the MSCI All Country World Index’s 12.2% return. Private investments generated particularly strong returns for the flexible investment trust, notably the successful ...

Takeover activity showed no sign of slowing as markets entered August with two FTSE 250 stocks agreeing offers and talk of a bid battle in the grocery sector. Aerospace engineering firm Meggitt (MGGT) announced it had agreed an 800p per share cash bid from US industrial controls firm Parker-Hannifin, sending its shares up 58% to 743p. KNOCK-OUT BID The bid represents a 70% premium to ...

UK jet engine parts supplier Senior (SNR) bounced back into the black in the first half after end markets showed signs of recovery, encouraging the company to keep its annual outlook unchanged. The engineering firm, which supplies equipment to planemakers including Boeing, said pre-tax profit for the six months to 30 June hit £22.3 million, a sharp reverse from last year’s pandemic hit ...

UK stocks opened on the front foot on Monday boosted by strong gains in Asia after China signaled support for the economy and further UK merger and acquisition activity. China’s SE Composite index gained close to 2% reversing some of last week’s heavy losses while Japan’s Nikkei 225 also added 2%. Oil and Gold prices were lower with Brent Crude down 0.9% to $74.7 per barrel and Gold ...

UK stocks finished the month flat despite a strong corporate  earnings season as concerns over Chinese regulation of technology stocks and disappointing US results weighed on sentiment. Overnight, Asian stocks sank as fears re-surfaced that Beijing could extend its intervention to more parts of the Chinese economy, while in the US shares in e-commerce giant Amazon.com fell 7% after the ...