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Friday Update

DB Live: Hargreaves Lansdown; Rightmove

4.45pm: London closes flat

The FTSE 100 ended the session almost flat at 6,032.18, up 5.24 points (0.087%).

Sterling was mixed by the late afternoon, last trading 0.77% weaker against the dollar at $1.3042, but strengthening 0.05% on the euro to €1.1073.

A better than forecast set of jobs figures out of the US helped shield the markets from the latest US-China TikTok turmoil.

1.30pm: Test & Protect rules

It will now be mandatory for hospitality businesses to collect customer details, to assist Test & Protect following failures of protocol in Aberdeen.

12.40pm: First Minister criticises Aberdeen footballers

Nicola Sturgeon says Aberdeen footballers ‘blatantly broke the rules’ by visiting a pub in the city which is now in lockdown.

Aberdeen match off

12.05pm: Evening Standard cuts jobs

The Evening Standard in London is to cut 115 jobs amid a slump in advertising revenue.

Full story here

11.50am: Aberdeen match off

Aberdeen’s match against St Johnstone has been called off after an outbreak of Covid-19 cases.

Full story here

8.15am: London opens lower

The FTSE 100 opened lower after US President Donald Trump signed executive orders hitting Chinese firms Tiktok and Wechat, and Congress and the White House failed to agree on a stimulus plan.

London’s blue-chip index fell 1.34 point (0.02%) to 6,025.60.

7am: Hargreaves Lansdown

The investment firm saw profit before tax for the year to the end of June increase 24% to £378.3 million and is proposing to raise its dividend by 31% to 54.9p.

Chris Hill, chief executive, said: “We have delivered a strong performance, despite an external environment of persistent challenge.

“The benefits of putting our clients at the heart of everything we do, combined with our investment in the scalability, diversity and resilience of HL’s business model, have been demonstrated through a record 188,000 net new clients, bringing total active clients to over 1.4 million and £7.7 billion of net new business, also a record.’

Rightmove

Estate agency Rightmove posted a fall in half-year profits as it reported a cautiously optimistic outlook following strong trading in July.

Operating profit fell 43% to £61.7m on revenue down 34% at £98m.

However, demand for sales properties soared by 50% in June and July, while rentals were up 20%.

The online property portal said this was because of pent-up demand and also people wanting to move home after the experience of lockdown.

Standard Life Aberdeen swings to loss

Standard Life Aberdeen has announced an IFRS half-year loss before tax of £498m (2019: £629m profit).

Full story here

Today’s agenda

Chancellor Rishi Sunak visits Scotland

US jobs report



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