25 May 2021 | 08:37am
StockMarketWire.com - UK stocks tracked sideways in early trading on Tuesday after US Federal Reserve officials cooled inflation fears, though a strengthening of the pound against the dollar weighed on exporters.
At 0825, the benchmark FTSE 100 index was down just 1.25 points at 7,050.34.
Industrial software group Aveva rallied 4.2% to £34.14 even as it reported a 63% slump in annual profit after the pandemic hits sales in the first half.
Aveva nevertheless upped its dividend by 1% to 23.5p per share, citing a second-half sales recovery that had limited a full-year fall in revenue to just 1.4%.
Engineering group Smiths fell 1.2% to £15.41 on announcing that chief executive Andy Reynolds Smith had stood down with immediate effect and been replaced by former 3M executive Paul Keel.
25 May 2021 | 07:40am
StockMarketWire.com - Defence equipment maker Avon Rubber hiked its interim dividend after swinging to a first-half profit amid significant growth in its respiratory protection business.
The company also announced that Nick Keveth, Chief financial officer would be retiring for personal reasons before the end of March 2022.
For the half year ended 31 March 2021, pre-tax profit was $5.4 million, up from a loss of $1.8 million year-on-year as revenue increased 41% to $167.9 million.
The company reported a strong order intake, up 46.5%, with military up 31.3%, first responder up 28.3% and a first-time contribution of $18.4 million from Team Wendy, which was acquired on 2 November 2020.
Given the $157 million order book and strong pipeline of opportunities across its personal protection portfolio, the company said it was confident of delivering full year expectations and remain excited by the medium-term prospects.
25 May 2021 | 16:39pm
StockMarketWire.com - The FTSE 100 saw a modest decline on Tuesday after trading broadly flat for much of the day as strength in sterling weighed on the overseas earnings dominated index.
By the close it was down 0.3% at 7,029.79. In the US the S&P 500 was also a bit lower, slipping 0..2% to 4,188.64 by 4.30pm UK time.
Industrial software group Aveva rallied 1.6% to £33.28 even as it reported a 63% slump in annual profit after the pandemic hits sales in the first half.
Aveva nevertheless upped its dividend by 1% to 23.5p per share, citing a second-half sales recovery that had limited a full-year fall in revenue to just 1.4%.
1 April 2021 | 12:22pm
StockMarketWire.com - The FTSE 100 was up 0.5% to 6,745.29 ahead of the Easter break as investors backed shares which will benefit from the reopening plan which is set to gather pace in the UK in April.
Clothing retailer Next has jumped 4.1% to £81.92 after it posted a 15% fall in full price sales for 2020/21 and pre-tax profit of £342 million, in line with guidance but said online sales growth is set to continue.
In the first eight weeks of the 2021/22 year, Next said its online sales have been stronger than expected and has raised its central profit guidance by £30 million from £670 million to £700 million for 2021/22.
1 April 2021 | 08:47am
StockMarketWire.com - A 2.2% increase in the National Minimum Wage to £8.91 has put a spring in the FTSE 100 on opening ahead of the long Easter weekend.
The rise in the minimum wage, which will apply to two million workers, although those on furlough are set to miss out, has lifted the FTSE 100 0.3% at 6,734.74, while the FTSE 250 is 0.4% higher at 21,601.77.
Clothing retailer Next has jumped 4.1% to £81.92 after it posted a 15% fall in full price sales for 2020/21 and pre-tax profit of £342 million, in line with guidance but said online sales growth is set to continue.
In the first eight weeks of the 2021/22 year, Next said its online sales have been stronger than expected and has raised its central profit guidance by £30 million from £670 million to £700 million for 2021/22.