BUSINESS LIVE: BAE hikes profit forecast
BUSINESS LIVE: BAE hikes profit forecast
The FTSE 100 closed down 104.64 points at 7561.63, tracking losses globally after ratings agency Fitch unexpectedly downgraded the US top-tier sovereign credit rating.
Among the companies with reports and trading updates today are BAE Systems, Taylor Wimpey, Haleon, Coca-Cola Europacific Partners, Virgin Money UK and Ibstock. Read the Wednesday 2 August Business Live blog below.
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“},”meta”:{“block”:{“key”:”q7l8″,”text”:”‘That being said, tight cost management, strong brand awareness, and savvy operational maneuvers have helped to mitigate the effect of these external factors on Taylor Wimpey’s profits. “,”type”:”unstyled”,”depth”:0,”inlineStyleRanges”:[{“offset”:0,”length”:186,”style”:”ITALIC”}],”entityRanges”:[],”data”:{}},”entityMap”:{}},”type”:”paragraph”,”id”:”Y2IV0BzCiN”},{“content”:{“text”:”‘Moreover, while not currently translating to strong market demand, the fact remains that Britain needs new homes and will continue to need new homes when mortgage rates stabilise. “},”meta”:{“block”:{“key”:”4s1io”,”text”:”‘Moreover, while not currently translating to strong market demand, the fact remains that Britain needs new homes and will continue to need new homes when mortgage rates stabilise. 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It has now increased profit guidance four times in a row.”},”meta”:{“block”:{“key”:”d98c6″,”text”:”‘The firm, which is the home of household pharmaceutical brands such as Sensodyne toothpaste and Centrum multivitamins, has seen a positive uptick in revenues while increasing operating profits by 8.9%. It has now increased profit guidance four times in a row.”,”type”:”unstyled”,”depth”:0,”inlineStyleRanges”:[{“offset”:0,”length”:260,”style”:”ITALIC”}],”entityRanges”:[],”data”:{}},”entityMap”:{}},”type”:”paragraph”,”id”:”FAKwCICznd”},{“content”:{“text”:”‘This has been a familiar story in the past year for major name-brand consumer staples firms. The one thing that unites these companies is pricing power. Inflation has been passed on with no real dent to demand for firms like Haleon as the strong revenue growth suggests.”},”meta”:{“block”:{“key”:”f9emi”,”text”:”‘This has been a familiar story in the past year for major name-brand consumer staples firms. 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FTSE 100 closes down 104.64 points at 7561.63
The Footsie closes soon
House prices fall at their sharpest rate in 14 years
Proxy adviser backs Nanoco board against shareholder revolt
FTSE suffers as fallout from Fitch US credit rating downgrade unravels
Hugo Boss stays strong amid tough China, U.S. markets
Big five banks rake in £18.4 BILLION from paying savers low rates
Coca-Cola EP agrees to buy Philippines-based bottler
Bank of England interest rates: How high will base rate go tomorrow?
Virgin Money credit card arrears rise while mortgage lending falls
UK could see a £5 billion Brexit boost if ‘tourist tax’ is scrapped
Sensodyne owner Haleon boosts profit expectations
Ibstock interim results show revenue and profit slump
Homeowners face new mortgage woe ahead of expected interest rate rise
Taylor Wimpey profits slump on higher mortgage rates
Fears grow car giants could pull investment from UK over EV targets
HSBC silences Ping Am with bumper profit: Bank boss says tussle with Chinese investor is now closed
Taylor Wimpey H1: ‘It could have been worse’
‘Inflation has been passed on with no real dent to demand for firms like Haleon’
Market open: FTSE 100 down 0.8%; FTSE 250 off 0.6%
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