Upstream Share Discussion Threads

[master rsi] 12/11/2024 22:06

DOW

Finished 382 points lower

[master rsi] 12/11/2024 16:30

How the UPS are performing during last month

[master rsi] 12/11/2024 16:16

How the UPS are performing today

[master rsi] 12/11/2024 15:44

Elliott takes $5bn stake in Honeywell, urges split into two businesses

(Sharecast News) - Activist investor Elliott Investment Management called on Honeywell International to break itself up on Tuesday, as it said it had taken a $5bn stake in the company.

In a letter to the company's board of directors, Elliott called for a "simplification" of Honeywell's conglomerate structure.

It said that in order to realise its full potential, Honeywell should separate itself into two businesses: Aerospace and Automation.

"Both entities would be sector leaders and be better positioned to thrive operationally, serve customers and employees, and create long-term value for shareholders," it said.

Elliott - now Honeywell's largest active investor - said a separation could result in share price upside of 51-75% over the next two years, "a remarkable improvement for any business, let alone a $150 billion industrial bellwether".

As independent entities, the Aerospace and Automation arms would benefit from simplified strategies, focused management, improved capital allocation, better operational performance, enhanced oversight, and numerous other benefits now enjoyed by dozens of large businesses that have moved on from the conglomerate structure, it said.

Elliott wrote: "Honeywell is at an inflection point. While its performance has lagged, its market positioning remains sound, and comparable valuations continue to reach new highs. The case for change is clear and compelling, and the path to achieving that change is straightforward: allowing Honeywell Aerospace and Honeywell Automation to stand on their own.

"We hope you share our view - and the growing market consensus - that now is the right time for Honeywell to take this step in its evolution."

[master rsi] 12/11/2024 15:28

Metro Bank fined by UK regulator as returns to profit in October
(Alliance News) - Metro Bank Holdings PLC on Tuesday said it returned to underlying profitability in October, but also confirmed it received a fine from the UK Financial Conduct Authority for inadequate anti-money laundering controls.

The high street lender has not reported annual profit since 2018 but highlighted it is "continuing to make strong progress" in its financial trajectory.

Metro Bank said its current performance aligns with its guidance for 2025 provided in its half-year results, targeting a mid-to-upper single-digit return on tangible equity. The bank's ROTE was 4% in 2023.

Chief Executive Officer Daniel Frumkin said: "The bank returned to profitability in October, in line with guidance, and thanks to our continued emphasis on cost discipline and balance sheet management. Net interest margin improved, driven by our asset rotation into niche and underserved markets, and the successful completion of the mortgage portfolio sale to NatWest."

Alongside Metro Bank's quarterly update, the FCA announced a GBP16.7 million fine for the bank's failure to monitor over 60 million transactions, totalling GBP51 billion, for money laundering risks between 2016 and 2020.

The FCA statement read: "Metro's failings risked a gap being left in our defence against the criminal misuse of our financial system. Those failings went on for too long."

Acknowledging the fine, Metro Bank said it fixed its transaction monitoring systems in 2020.

CEO Frumkin said: "The conclusion of these enquiries draws a line under this legacy issue, allowing the bank to move forward and fully focus on the future."

As of September 30, Metro Bank's assets totalled GBP20.80 billion, a 3.2% decrease from GBP21.49 billion at the end of June.

Total net loans fell to GBP 9.1 billion, down 22% from GBP 11.5 billion on June 30, following the completion of a GBP2.5 billion mortgage portfolio sale.

Customer deposits stood at GBP15.1 billion on September 30, a 4.2% decline from GBP15.7 billion at the end of June, reflecting the bank's focus on improving cost of deposits.

Metro Bank shares were up 0.1% at 84.60 in London early Tuesday afternoon.

[master rsi] 12/11/2024 15:08

Diversified Energy sees production rise following acquisition

(Alliance News) - Diversified Energy Co PLC on Tuesday reported an increase in third-quarter production figures as it remains "well positioned for additional opportunities".

In its third-quarter the Alabama-based and US-focused natural gas producer recorded a 3.0% increase in average production to 138 million barrels of oil equivalent per day from 134.0 mboepd the year prior.

Diversified said that net daily production continued to benefit from its shallow-decline profile coupled with the recent acquisition of Crescent Pass Energy in August for USD106 million.

September also saw an improved on-year exit rate by 5.7% to 142 mboepd from 134.4 mboepd the year prior.

Revenue for the period grew 2.9% to USD186.3 million from USD181.1 million, but with adjusted earnings before interest, tax, depreciation and amortisation down by 18% to USD115.0 million from USD 139.9 million.

Diversified shares were up 1.1% at 992.00 pence on Tuesday afternoon in London.

The firm kept its third-quarter interim dividend flat with its second-quarter declaration at 29 cents per share.

[master rsi] 12/11/2024 14:43

DOW

Up by 98 points

[master rsi] 12/11/2024 12:52

LONDON MARKET MIDDAY: Stocks down in tough week for Germany
(Alliance News) - Stock prices in London were lower at midday on Tuesday as investors digest pessimistic data out of Europe, thanks to headwinds threatened by Donald Trump's US election victory.

Annual consumer price inflation in Germany quickened to 2.0% last month. However Germany's outlook has weakened in the eyes of financial experts, survey results from the ZEW institute showed, with the economic expectations index down to positive 7.4 in November. Market consensus had anticipated a positive 12.8 point reading.

"In Germany, sentiment did not profit from the prospects of new national elections with the effect of US elections likely dominating as current situation and expectations worsened," Alexander Valentin of Oxford Economics said. "Headwinds for the eurozone have intensified lately, with economic growth remaining lacklustre and the outcome of the US elections adding to geopolitical uncertainty.

"However, potential US tariffs on eurozone products are still subject to political debate and are unlikely to impact industry in the near term."

The FTSE 100 index was down 82.86 points, 1.0%, at 8,042.33. The FTSE 250 was down 162.93 points, 0.8%, at 20,560.60, and the AIM All-Share was down 3.28 points, 0.4%, at 734.65.

The Cboe UK 100 was down 1.0% at 807.48, the Cboe UK 250 was down 0.9% at 17,992.36, and the Cboe Small Companies was down 1.8% at 10,581.16.

ConvaTec and DCC continued to lead the FTSE 100, surging by 20% and 15% respectively.

At the other end, Vodafone lost 5.9%.

The telecommunications titan declared an interim dividend of 2.25 euro cents per share, down 50% on-year, and said it expects a slowdown in its German market.

However, for the first half it said revenue grew 1.7% to EUR18.28 billion while pretax profit more than doubled to EUR2.11 billion.

"Vodafone may be writing off the current financial year as one of transition but it’s a message shareholders have received a lot in recent years and patience is wearing thin," AJ Bell's Russ Mould warned.

interactive investor's Richard Hunter likewise said: "There is little to catch the eye of the bulls in this release, with the end game still some way off, and the share price has reacted accordingly."

Drax led the FTSE 250, rising 7.5%.

The Yorkshire based electricity generator reported strong showings in its Flexible Generation, Pellet Production, and Biomass Generation operations, making progress towards its targets for 2027.

Reflecting the strong performance, Drax now expects 2024 full year adjusted Ebitda to be around the top end of analysts' consensus estimates.

Bank of Georgia came in second, rising 5.4%.

The Tbilisi-based lender said pretax profit jumped 44% to GEL606.5 million, around GBP174.9 million, in the third quarter. Net interest income rose 53% to GEL641.0 million.

Bank of Georgia anticipates to benefit from an expected real GDP growth of Georgia of around 9% for 2024 and 6% for 2025.

Star Energy was near the top of AIM, with its stock up 20%.

The onshore energy company has exchanged contracts to sell currently unused land at Alton, Hampshire to Pickerings Hire Ltd for GBP6.3 million in cash.

Completion depends on the satisfaction of planning conditions and surrendering the site's environmental permit, which Star expects to occur in the first half of 2025.

Also in the UK, traders continue to digest news that the ILO unemployment rate rose to 4.3% in the three months to September, surpassing market consensus, while wage growth slowed to 4.8%.

Also on Tuesday, the ONS reported that early estimates for October show the number of payrolled employees rising 0.3% on-year, while median monthly pay increased 7.0%.

"This latest set of jobs data puts in black and white what businesses and workers have been feeling," AJ Bell's Danni Hewson commented. "The labour market has been steadily tightening with vacancy numbers falling, redundancies rising and that headline unemployment figure creeping up again.

"The labour market has been steadily tightening with vacancy numbers falling, redundancies rising and that headline unemployment figure creeping up again."

She added: "Expectation that the [Bank of England] might deliver a Christmas rate cut has receded and markets are only pricing in a 70% chance of a February cut with the most hawkish 10% thinking that even next May is too early."

In European equities on Tuesday, the CAC 40 in Paris was down 1.3%, while the DAX 40 in Frankfurt was down 0.9%.

The pound was quoted at USD1.2821 at midday on Tuesday in London, lower compared to USD1.2875 at the equities close on Monday. The euro stood at USD1.0618, down against USD1.0654. Against the yen, the dollar was trading higher at JPY154.11 compared to JPY153.81.

Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.1%, the S&P 500 index down 0.1%, and the Nasdaq Composite down 0.1%.

Brent oil was quoted at USD72.21 a barrel at midday in London, rising on Tuesday from USD71.76 late Monday.

Gold continues to fall, being quoted at USD2,594.70 an ounce against USD2,617.20.

Still to come on Tuesday's economic calendar is the US consumer sentiment release.

[master rsi] 12/11/2024 12:21

How the UPS are performing during last month

[master rsi] 12/11/2024 12:04

How the UPS are performing today

[master rsi] 12/11/2024 11:50

PM Keir Starmer confirms UK pledge to cut emissions by 81% by 2035

(Alliance News) - The UK has pledged an 81% cut to emissions by 2035, Prime Minister Keir Starmer has confirmed.

The goal, unveiled by the prime minister at Cop29 in Azerbaijan, is in line with the recommendation of the Climate Change Committee.

This target is based on reducing emissions compared with 1990 levels and forms the UK's Nationally Determined Contribution, or NDC – a commitment that countries make to reduce their greenhouse gas emissions to mitigate climate change.

[master rsi] 12/11/2024 11:30

ZEG/Zegona 314p +8p

Has doubled the price during the last year, but just now the Indicators are saying is oversold

[master rsi] 12/11/2024 11:04

CBOX 190p (+2 / 1.06%%) / Cake Box upbeat after strong first half
(Sharecast News) - Cake Box reported a strong first-half performance on Tuesday, with revenue increasing 4.3% to £18.7m, supported by positive momentum in franchise store sales and expanding online demand.

The AIM-traded firm said gross profit rose 11.5% to £10.1m, driven by efficiencies in production processes and a recent accounting change for national marketing levy income.

EBITDA climbed 11.9% to £3.5m, and pre-tax profit reached £2.8m, marking a 16.3% increase year-on-year.

Reflecting confidence in its outlook, the company raised its interim dividend by 17.2% to 3.4p per share.

Cake Box said it added seven new franchise stores in the period, bringing the total number of stores to 232 by the end of September, including new locations in Crewe, Greenwich, and Lichfield.

Franchise store sales rose 8.1% to £39m, with online sales contributing 22.9% of that revenue, up from 21.3% last year.

The company said its marketing initiatives, including the 'Cake Club' loyalty programme, boosted online engagement, with website visits up 40% year-on-year and the subscription database growing 40%.

Online sales saw a 16.6% increase, attracting 120,000 new online customers during the half.

Innovation in product offerings also supported growth, with new collaborations, such as with Nutella, yielding five exclusive products.

Cake Box launched the 'Lemony Layers' collection and expanded its product line with 50 new designs, including a new kids' cake collection.

Investment in the Cake Box Hub and strong supplier relationships helped the company manage cost pressures effectively.

Following the period, trading remained robust, with franchise sales up 9.9% in October and like-for-like sales up 4% year-on-year.

Seven additional franchise stores were opened after the period ended, bringing the total to 14 new stores this financial year.

Cake Box said it expected to exceed its target of 25 new store openings by the year-end.

October online sales grew 23%, accounting for 23.9% of franchise store sales, underscoring sustained digital growth.

The group said it remained on track to meet full-year market expectations.

"During the first half of the year, we delivered strong growth across key financial metrics and expanded our customer base, resulting in double digit increases in profits and dividends," said chief executive officer Sukh Chamdal.

"We have seen continued growth in online sales as well as brand awareness. Importantly, we increased our customer database by 40% and launched our customer loyalty programme in the period.

"Our store opening programme is gaining traction, with 14 new franchise stores opening in the year to date, compared to ten by the same date last year."

Chamdal said that was achieved in collaboration with the company's external property consultants, with the success giving it confidence in exceeding the store opening target set for the year.

"We enter the second half with ongoing positive trading momentum and are on track to deliver full year performance in line with market expectations.

"The board remains confident in the company's long-term prospects, and we are making strategic progress in building a larger and more profitable business for our shareholders, franchise partners and colleagues."

[1ultimate] 12/11/2024 10:06

ZEGONA Communications - ZEG

Non-Exec Director bought 54,399 (£174,076.80)

[master rsi] 12/11/2024 09:59

UK grocery sales up as Christmas spending comes "early"
(Alliance News) - UK grocery sales spiked as trips to supermarkets hit the highest level since the onset of Covid, numbers from Kantar showed on Tuesday.

"Christmas came early" for grocers, Kantar explained, with holiday staples such as mince pies and Christmas cake flying off the shelves. There was also a Halloween "galvanising sales".

UK grocery sales in the 12 weeks to November 3 rose 2.3% to GBP34.01 billion from GBP33.25 billion a year prior. In the final four weeks of the survey, sales were up 2.0% to GBP11.6 billion, the best month so far this year.

Trips to supermarkets during the four weeks hit a four-year high of 480 million, "the highest since pre-pandemic", Kantar said.

"Halloween played a part in galvanising sales and there are signs that some consumers are looking further ahead in the calendar, starting their Christmas shopping early," Kantar analyst Fraser McKevitt said.

"Many of us got into the spooky spirit last month, as 3.2 million households bought at least one pumpkin. Confectionery spending also got a boost to GBP525 million in October as sales of chocolates and sweets both went up, climbing by 13% and 7% each."

McKevitt continued: "What's interesting this month is the number of households who are already stocking up the cupboards for the big day in December. Some people think Christmas ads hit our screens too soon but it's clearly important for retailers to set out their stalls early. 648,000 shoppers have already bought a Christmas cake, while 14.4% of households picked up mince pies in October. With Black Friday on the horizon, the grocers will be hoping to capture a slice of the action there too."

Grocery price inflation picked up slightly to 2.3% during the for the final four weeks of the period, from 2.0% for the four weeks to September 29. The rate of inflation has sat below 3.0% since the "early summer".

Kantar said Tesco PLC sales rose 4.6% on-year to GBP9.49 billion during the 12 weeks, with its market share climbing to 27.9% from 27.3%, cementing its status as top dog.

The fastest-growing retailer, however, was Ocado. Ocado sales rose 9.5% to GBP611 million and its market share improved to 1.8% from 1.7%. Online-only Ocado is a joint-venture between Ocado PLC and Marks & Spencer Group PLC.

Kantar added: "With sales up by 7.4%, Lidl was the fastest growing retailer with a bricks and mortar presence for the 15th period in a row, continuing this run into a second year. It secured 326,000 additional shoppers this period, more than any other retailer, and saw particularly strong fresh produce sales growth at 22%."

Lidl's market share improved to 7.7% from 7.4%. Fellow discounter Aldi saw its market share remain unmoved at 10.4%, however. Aldi remains the fourth most popular UK grocer by market share. It dislodged Wm Morrison Supermarkets Ltd from that position back in 2022.

J Sainsbury PLC sales rose 4.4% during the 12 weeks, with its market share improving to 15.5% from 15.2%.

Tesco shares were down 1.0% early Tuesday in London, while Sainsbury's was 0.5% lower. Ocado was down 3.2% and M&S fell 2.1%.

[master rsi] 12/11/2024 09:34

MARKET REPORT
LONDON MARKET OPEN: FTSE 100 stays in red while UK wage growth slows

(Alliance News) - Stock prices in London opened lower on Tuesday morning, as traders grow increasingly concerned over the prospect of punitive tariffs and a very hawkish stance on China from Donald Trump's government.

"The latest moves from Trump's camp, especially with China hawks joining his inner circle, are sending chills through the markets and casting a decidedly icy glow on US-China relations," SPI analyst Stephen Innes said. "With a Republican clean sweep in Congress giving him near-unchecked power, Trump's got all the tools to turn up the heat on trade...markets are buzzing with speculation that tariffs could be hitting sooner than anyone expected, leaving traders scrambling to position themselves."

As for the UK labour market, the Office for National Statistics said the ILO unemployment rate rose to 4.3% in the three months to September from 4.0% in the three months to August. This surpassed the FXStreet-cited consensus of 4.1%.

Wage growth slowed down slightly, with average earnings excluding bonuses rising 4.8% annually in the three months to September from 4.9% in the August quarter. However this beat the consensus of a 4.7% rise.

"The super-tight labour market has loosened up, with employers hiring fewer staff than financial markets expected and unemployment rising...Worrisome wage growth has again retreated a little, although not by quite as much as expected, but it still adds to a picture of increasing wariness among employers," remarked Hargreaves Lansdown's Susannah Streeter.

She added: "The chances of the Bank of England cutting rates next month remain low but have crept up slightly given the weaker labour market picture."

The FTSE 100 index opened down 53.57 points, 0.7%, at 8,071.62. The FTSE 250 was down 160.19 points, 0.8%, at 20,563.34, and the AIM All-Share was down 3.76 points, 0.5%, at 734.17.

The Cboe UK 100 was down 0.6% at 810.69, the Cboe UK 250 was down 0.9% at 18,002.33, and the Cboe Small Companies was down 0.1% at 16,163.70.

ConvaTec led the FTSE 100 with an 18% surge.

The London-based medical technology company has increased its full-year outlook, now expecting 7.3% to 8.0% organic sales growth and a constant currency adjusted operating margin above 21.5%.

ConvaTec also forecast a 2025 operating margin rise along with double-digit growth in adjusted earnings per share.

DCC was close behind, up 16%.

The Dublin-based sales, marketing and support services provider said half-year revenue decreased 3.0% to GBP9.33 billion, but pretax profit rose to GBP131.0 million from GBP129.7 million.

DCC said it expects its full year to show "good operating profit growth". It also noted its ongoing strategic review plans to focus on the energy sector, saying it expects to complete the sale of DCC Healthcare in 2025.

Shell was 0.1% lower.

The oil and gas titan won a Dutch court appeal early on Tuesday, with judges striking down a landmark judgement three years ago that called on Shell to reduce its carbon emissions by 45% by 2030.

But on Tuesday, judges disagreed with the climate groups that brought the original case, saying "Shell is already doing what is expected" of them.

On the FTSE 250, 4imprint lost 5.2%.

This was despite the London-based direct marketer and distributor of promotional merchandise saying overall order revenue has risen 4% in the ten months to October, expecting full-year revenue of USD1.37 billion.

However, 4imprint did say the North American promotional products industry currently presents a tough backdrop.

In smaller companies, Facilities by ADF had a tough morning, with its stock plummeting 38%.

The provider of film and television production facilities said a "significant number" of projects in its second-half pipeline will be delayed into 2025 or not proceed at all.

It therefore now expects to report full-year revenue of approximately GBP35 million and adjusted Ebitda of GBP7.3 million to GBP8.0 million. It also expects "approximately breakeven" net income.

In European equities on Tuesday, the CAC 40 in Paris was down 1.0%, while the DAX 40 in Frankfurt was down 1.0%.

The pound was quoted lower at USD1.2806 early on Tuesday in London, compared to USD1.2875 at the equities close on Monday.

The euro stood down at USD1.0623, against USD1.0654. Against the yen, the dollar was trading higher at JPY153.91 compared to JPY153.81.

In Asia on Tuesday, the Nikkei 225 index in Tokyo was down 0.4%. In China, the Shanghai Composite was down 1.4%, while the Hang Seng index in Hong Kong was down 3.0%. The S&P/ASX 200 in Sydney closed down 0.1%.

In the US on Monday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.7%, the S&P 500 up 0.1% and the Nasdaq Composite up 0.1%.

Brent oil was quoted slightly higher at USD71.79 a barrel early in London on Tuesday from USD71.76 late Monday.

Gold was quoted lower at USD2,600.19 an ounce against USD2,617.20.

Berenberg analysts noted that "Gold has come under pressure since the [US election] result". However: "While we still expect the gold price to ease over 2025 and beyond, we do not expect a material negative correction.

"As a result, we think that in a still volatile geopolitical environment, with ongoing conflict, inflation (of which gold is a store of value against), a loosening Federal Reserve policy (albeit not as loose as before) and the potential volatility that comes with a Trump presidency, gold should remain in portfolios."

Still to come on Tuesday's economic calendar are the ZEW economic sentiment surveys for the eurozone and Germany, plus US consumer inflation expectations.

[master rsi] 12/11/2024 09:13

Renewi reports 'tangible progress' in first half
(Sharecast News) - Renewi reported a solid first-half performance on Tuesday, with revenue from continuing operations up 4% to €874.5m, driven by strong pricing in its commercial waste division and significant growth in specialities.

The FTSE 250 company said underlying EBIT increased 9% to €53.2m, supported by a turnaround in the Mineralz & Water (M&W) division and ongoing margin improvement programs, raising the EBIT margin to 6.1%.

Strategic progress included the completion of Renewi's divestment from the UK municipal division in October, a move intended to improve both cash flow and underlying margins.

Following the sale, core net debt was reduced to €357.7m, with an expected annual leverage reduction of 0.4x to 0.5x, aiming to reach a core debt-to-EBITDA ratio of 2x.

Cost efficiency measures continued, delivering €15m in sales, general and administrative savings and further operational simplification in logistics, processing, and site management.

In its commercial waste division, Renewi said it achieved a 3% revenue increase despite subdued volumes, attributing growth to pricing actions that offset higher handling costs linked to limited incinerator capacity.

The M&W division meanwhile saw a fivefold increase in EBIT to €8.8m due to increased soil and water treatment activities, lower utility costs, and demand for secondary building materials.

Specialities reported a 19% revenue rise and 10% EBIT growth, benefiting from higher volumes and operational enhancements.

Renewi said its operational improvements also included advances in working capital management, resulting in a €47m improvement in trade receivables since March.

The company had also closed low-yielding sites, including Tisselt and Mijdrecht, and streamlined its truck fleet by 3.2%.

It also undertook initiatives to meet growing sustainability demands, including partnerships for chemical recycling of soft plastics and alternative fuels.

Renewi recently joined VeenIX for a large-scale infrastructure project in the Netherlands, contributing 40,000 tons of recycled concrete and 130,000 tons of recycled granulate.

The firm's outlook for the 2025 financial year remained unchanged, with medium-term targets focused on high single-digit EBIT margins, over 5% organic revenue growth, and free cash flow conversion exceeding 40%.

"Our half year results show tangible progress on our commitment to build a strong platform," said chief executive officer Otto de Bont.

"The successful divestment of UK municipal on 10 October and the strong performance of M&W, supported by strategic investments and actions over the last two years, have allowed us to move beyond our legacy challenges, positioning us for future growth.

"We have made significant progress in strengthening our business."

De Bont said the completion of the company's sales, general and administrative efficiency programme was generating annual savings of €15m, adding that ongoing initiatives were on track to standardise and digitise operations, further enhancing its competitive edge and the strength of its growth platform.

"Our pricing strategies for inbound services coupled with generally stable outbound recyclate prices have partially mitigated the impact of the slightly lower volumes due to subdued economic and industrial activity.

"Organic growth drivers include the successful launch of our customer CSRD reporting tool in the Netherlands, upgrades in our M&W operations with a new jetty commissioned in early November increasing degasification capacity, and customer wins underlining our material-focused sales strategy such as the partnership with VeenIX and Rijkswaterstaat for construction material recycling.

"Looking ahead, whilst the near term macro environment is not without challenges, we expect our full year results to be in line with market expectations and we remain confident progressing towards our medium term targets, supported by regulatory tailwinds and a strengthened platform for growth, all delivered by a dedicated team."

At 0829 GMT, shares in Renewi were down 5.47% at 578p.

[master rsi] 12/11/2024 08:52

European stocks slip lower; German inflation rises above 2%

Investing.com - European stock markets slipped lower Tuesday as investors digested fresh regional employment and inflation data as well as quarterly earnings from some major companies.

At (08:10 GMT), the DAX index in Germany traded 0.9% lower, the CAC 40 in France fell 1% and the FTSE 100 in the U.K. dropped 0.4%.

German inflation rose in October
Investors will return to scrutinizing fresh economic data this week, after the political turmoil of last week, starting with an inflation reading from Germany and UK employment data, released earlier Tuesday.

German inflation, harmonized to compare with other European Union countries, rose to 2.4% in October, confirming preliminary data, after having risen by 1.8% year-on-year in September.

While the European Central Bank policy makers wouldn't want to see inflation in the eurozone’s largest economy rise above their 2% target price once more, this is unlikely to stop the easing of monetary policy once more into the year-end.

The UK unemployment rate increased by more than expected in September, data showed Tuesday, rising to 4.3% in the three months to September, from 4.0% in the three months to August.

Signs of a cooling labor market come after Britain's economy grew in August following two consecutive months of stagnation, and after the Bank of England cut interest rates, for the second time this year, last week.

There are more economic numbers to digest later in the week, including US inflation and UK gross domestic product on Thursday.

[master rsi] 12/11/2024 08:29

FTSE

Opening with 49 points lower

[master rsi] 11/11/2024 23:26

SBTX ( 14.25 v 15p )

Waiting for the turn and bounce

[master rsi] 11/11/2024 22:36

Sabien Technology secures order for M2G Cloud Connection System

(Alliance News) - Sabien Technology Group PLC on Monday announced a new order for gas-saving technology from a "major international transport company" which will generate revenue in the current financial year.

The London-based provider of energy reduction technologies secured a contract with an unnamed transport company for its M2G Cloud-Connect System. The system which will be used by the customer in its London area estate provides "real-time, visible energy and CO2 savings, and analytics".

Initially covering 24 gas boilers, the contract is expected to generate approximately GBP100,000 within the current financial year.

Sabien said it expects the customer to place additional orders with similar revenue generation in the future although the company stressed that there can be no certainty.

Sabien Technology shares closed 1.5% higher at 9.90p

[master rsi] 11/11/2024 22:06

DOW

At the end it was 304 points higher

[master rsi] 11/11/2024 16:26

How the UPS are performing during last month

[master rsi] 11/11/2024 16:10

How the UPS are performing today