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12 May 2021 | 07:59am StockMarketWire.com - Food services group Compass reported a slump in first-half profit owing to the pandemic impact, but said it expected a gradual improvement in the third quarter. For the six months ended 31 March 2021, pre-tax profit fell to £133 million from £787 million year-on-year as revenue slipped 32.4% to £8.4 billion. Operating margin fell 330 basis points to 3.4%, but the company said it remained confident of boosting margin growth. Looking ahead, Compass said it anticipated a gradual improvement in revenue in Q3, with margin growth to be between 4.5% and 5.0%. [We] remain confident in rebuilding the group underlying margin to above 7% before we return to pre COVID volumes, it added. ....
17 March 2021 | 08:25am StockMarketWire.com - UK stocks opened modestly lower on Wednesday as investors braced for a crucial announcement by the US Federal Reserve later in the day about the direction of monetary policy. At 0818, the benchmark FTSE 100 index was down 8.24 points, or 0.1%, at 6,794.24. Any sign that the Fed might ease off on its dovish stance on interest rates would indicate the US economy was on the mend, but could spook markets grown accustomed to an abundance of cheap credit. Wealth management company Hargreaves Lansdown climbed 2.6% to £15.89, having upgraded its profit outlook after reporting elevated share dealing volumes since the end of January. ....
17 March 2021 | 12:11pm StockMarketWire.com - The FTSE 100 slumped by lunchtime ahead of the US Federal Reserve meeting later and as Germany downgraded growth forecasts. At midday the index was down 0.6% to 6,763.43. Any sign that the Fed might ease off on its dovish stance on interest rates would indicate the US economy was on the mend, but could spook markets grown accustomed to an abundance of cheap credit. Wealth management company Hargreaves Lansdown climbed 0.9% to £15.63, having upgraded its profit outlook after reporting elevated share dealing volumes since the end of January. Hargreaves Lansdown now expected pre-tax profit for the year through June 2021 modestly above the top end of analyst expectations ranging from £334 million to £360 million. ....