Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDiscoverIE Share News (DSCV)

Share Price Information for DiscoverIE (DSCV)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 676.00
Bid: 675.00
Ask: 684.00
Change: -15.00 (-2.17%)
Spread: 9.00 (1.333%)
Open: 683.00
High: 698.00
Low: 674.00
Prev. Close: 691.00
DSCV Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET OPEN: Stocks head lower amid global growth fears

Wed, 07th Jun 2023 09:10

(Alliance News) - Stock prices in London opened in the red on Wednesday, as concerns about interest rate hikes and a global economic slowdown damped risk appetite.

The FTSE 100 index opened down 12.98 points, 0.2%, at 7,615.12. The FTSE 250 was down 38.73 points, 0.2%, at 19,178.49, and the AIM All-Share was down 0.50 of a point at 792.07.

The Cboe UK 100 was down 0.2% at 759.85, the Cboe UK 250 was down 0.2% at 16,737.91, and the Cboe Small Companies was down 0.1% at 13,736.89.

In European equities, the CAC 40 in Paris was down 0.3%, while the DAX 40 in Frankfurt was down 0.2%.

"There is a struggle to find a sense of direction on financial markets as investors mull what's ahead for interest rate policy, while fresh clouds hover over the global economic outlook," said Hargreaves' Lansdown's Susannah Streeter.

In Japan on Wednesday, the Nikkei 225 index closed down 1.8%. In China, the Shanghai Composite closed up 0.1%, while the Hang Seng index in Hong Kong was up 0.8%. In Australia, the S&P/ASX 200 closed down 0.2%.

Investors in Asia-Pacific were digesting the latest trade data from China, which pointed to a slowing of the global economy. However, the worse-than-expected slump in exports suggested economic stimulus from the Chinese government could be more likely.

China's exports fell in May for the first time since February, state media reported, breaking a two-month growth streak as a post-Covid rebound in the world's second-largest economy faded. Overseas shipments sank 7.5% on-year last month, a sharp drop from an increase of 8.5% in April, according to figures published by the official Xinhua news agency.

Imports fell 4.5% in May, according to Xinhua. Forecasts in a survey by Bloomberg showed economists expected exports to drop 1.8% and imports to shrink 8.0%.

Investors also had a new global economic forecast to consider.

The Organisation for Economic Co-operation & Development slightly raised its growth outlook for the world economy, but still predicted growth will slow.

The OECD cited easing inflation and the dropping of Covid restrictions in China for boosting its growth outlook. However, it warned the recovery faces a "long road", with interest rate hikes prompted by stubborn core inflation to weigh on growth prospects.

The Paris-based organisation forecast an economic expansion of 2.7%, improved from 2.6% in its previous report in March, with upgrades for the US, China and the eurozone. But it is still under the 3.3% growth recorded in 2022.

The update from the OECD echoes the World Bank's outlook on Tuesday. The Washington-based institution said it expects global growth to slow from 3.1% in 2022 to 2.1% in 2023, but raised its annual growth outlook from 1.7% in January.

Oil prices headed lower, amid the weak energy demand outlook. Brent fetched USD75.75 a barrel, lower than USD76.40 on Tuesday afternoon.

Gold was quoted at USD1,958.75 an ounce early Wednesday, little changed from USD1,959.55 on Tuesday.

Equities on Wall Street ended flat to higher on Tuesday, as US recession concerns prompted caution, with the Dow Jones Industrial Average flat, the S&P 500 up 0.2% and the Nasdaq Composite up 0.4%.

Trading remains cautious ahead of next week's two key market catalysts. The latest inflation print from the US is due on Tuesday, followed by the Federal Reserve's latest US interest rate announcement on Wednesday.

"Inflation is likely to have cooled once more in May, although core prices could remain higher than the Fed would like in its ongoing battle to strangle inflation," noted interactive investor's Richard Hunter.

The dollar was little changed against major currencies in early exchanges in Europe.

Sterling was quoted at USD1.2410 early Wednesday, flat from USD1.2411 at the London equities close on Tuesday. The euro traded at USD1.0676, lower than USD1.0696. Against the yen, the dollar was quoted at JPY139.20, marginally soft versus JPY139.27.

In the FTSE 100, Diageo announced that chief executive officer Ivan Menezes has died, following a brief illness.

Menezes was due to retire at the end of the month, with Chief Operating Officer Debra Crew leading the company from July. On Monday, the London-based brewer with brands such as Guinness and Baileys said it promoted Crew to the role of interim CEO, as Menezes underwent emergency surgery for medical conditions including a stomach ulcer.

Menenez joined Diageo at its creation in 1997 from the merger of brewer Guinness and distiller Grand Metropolitan. He became executive director and board member in July 2012 and served as CEO from July 2013.

Listed housebuilders succumbed to selling pressure, as Halifax data pointed to the first decline in UK house prices in over a decade.

According to the mortgage lender, average house prices were flat in May from the previous month, after 0.4% fall in April from March.

On an annual basis, prices fell 1.0% in May, after edging up 0.1% in April. According to Halifax's data, this marks the first annual decline in house prices since December 2021, when they fell 0.1%.

Persimmon was down 1.7%, Taylor Wimpey down 1.2% and Barratt Developments down 1.1%.

GSK edged into the red, down 0.4%, despite announcing that its vaccine Arexvy has become the first EU-backed vaccine against the respiratory syncytial virus for adults aged 60 and older.

Elsewhere, broker ratings were moving individual stocks. Croda International was down 2.6%, after Goldman Sachs cut the stock to 'neutral' from 'buy'. Melrose Industries added 1.6%, as Barclays lifted its target price by 28%, keeping its 'outperform' rating for the stock.

In a boost for London, WE Soda, confirmed its intention to float on the premium segment of the London Main Market. The firm is the world's largest natural soda ash producer. It is based in London with production facilities in Turkey.

Soda is ash an ingredient used for glass manufacturing, but also in solar photovoltaic glass, the production of lithium carbonate used in electric vehicle batteries, and silicates and other sodium chemicals.

The company, which also goes by the name Kew Soda, said the final offer price and the maximum number of shares to be sold in the initial public offering will be determined following a book-building process.

Last week, the Financial Times reported WE Soda's owner, Turkish industrialist Turgay Ciner, is targeting a valuation of around USD7.5 billion, which would be enough to be included in the FTSE 100. The newspaper cited people "familiar with the matter".

On Wednesday, WE Soda said it expects indirect net proceeds to the company of the IPO to be around USD800 million, with around USD500 million to be used to pay down debt, and USD300 million for general corporate purposes.

Among London mid-caps, discoverIE rose 3.3%.

The customised electronics manufacturer announced its annual results for the financial year that ended March 31. Revenue rose 18% to GBP448.9 million from GBP379.2 million, while pretax profit surged 70% to GBP29.1 million from GBP17.1 million. It raised its annual dividend to 11.45p from 10.80p, with a final dividend proposed at 7.9p per share.

The group is well-positioned for future growth, given its strong acquisition pipeline and robust balance sheet, said CEO Nick Jefferies, and the new financial year has started well, with continued organic sales growth.

Among London's small-caps, 888 Holdings jumped 18%. Late Tuesday, it revealed FS Gaming Investments has taken a 6.6% stake in the firm.

FS Gaming is an investment vehicle backed by former board directors of gambling group GVC, including its former CEO Kenny Alexander.

GVC became Entain back in 2020.

In the international economic calendar on Wednesday, the Bank of Canada will announce its next interest rate decision at 1500 BST.

By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
19 Apr 2023 08:37

discoverIE says annual underlying earnings to be ahead of expectations

(Alliance News) - discoverIE Group PLC on Wednesday said positive trading momentum in the final quarter of its financial year means it will deliver full-year underlying earnings ahead of expectations.

Read more
19 Apr 2023 07:37

DiscoverIE lifts guidance on stronger sales, order book

(Sharecast News) - Customised electronics maker discoverIE Group on Wednesday lifted annual earnings guidance on the back of stronger sales and a healthy order book.

Read more
12 Apr 2023 15:44

UK earnings, trading statements calendar - next 7 days

Thursday 13 April 
Brooks Macdonald Group PLCTrading Statement
Churchill China PLCFull Year Results
Destiny Pharma PLCFull Year Results
Foresight Group Holdings LtdTrading Statement
Imperial Brands PLCTrading Statement
LSL Property Services PLCFull Year Results
Norcros PLCTrading Statement
PZ Cussons PLCTrading Statement
Serica Energy PLCFull Year Results
Tesco PLCFull Year Results
XP Power LtdTrading Statement
Friday 14 April 
888 Holdings PLCFull Year Results
888 Holdings PLCTrading Statement
AO World PLCTrading Statement
CMC Markets PLCTrading Statement
Devro PLCFull Year Results
Flowtech Fluidpower PLCFull Year Results
Hays PLCTrading Statement
Monday 17 April 
Arecor Therapeutics PLCFull Year Results
Ashmore Group PLCTrading Statement
Diaceutics PLCFull Year Results
PageGroup PLCTrading Statement
Sirius Real Estate LtdTrading Statement
Surface Transforms PLCFull Year Results
Tuesday 18 April 
ASA International Group PLCFull Year Results
Billington Holdings PLCFull Year Results
easyJet PLCTrading Statement
IntegraFin Holdings PLCTrading Statement
LifeSafe Holdings PLCFull Year Results
Moneysupermarket.com Group PLCTrading Statement
Ninety One PLC and LtdTrading Statement
Petra Diamonds LtdTrading Statement
Property Franchise Group PLCFull Year Results
Schroder UK Public Private Trust PLCFull Year Results
THG PLCFull Year Results
THG PLCTrading Statement
Qinetiq Group PLCTrading Statement
Xeros Technology Group PLCFull Year Results
Wednesday 19 April 
Antofagasta PLCTrading Statement
discoverIE Group PLCTrading Statement
Distribution Finance Capital Holdings PLCFull Year Results
Entain PLCQ1 Results
Liontrust Asset Management PLCTrading Statement
Hochschild Mining PLCQ1 Results
Hunting PLCTrading Statement
M Winkworth PLCFull Year Results
Network International Holdings PLCTrading Statement
Quilter PLCTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
6 Apr 2023 15:42

UK earnings, trading statements calendar - next 7 days

Friday 7 April 
no events scheduled 
Monday 10 April 
no events scheduled 
Tuesday 11 April 
Devolver Digital IncFull Year Results
JTC PLCFull Year Results
Wednesday 12 April 
Argentex Group PLCQ3 Results
DP Eurasia NVFull Year Results
Everyman Media Group PLCFull Year Results
LBG Media PLCFull Year Results
Tharisa PLCTrading Statement
Thursday 13 April 
Brooks Macdonald Group PLCTrading Statement
Churchill China PLCFull Year Results
Destiny Pharma PLCFull Year Results
discoverIE Group PLCTrading Statement
Foresight Group Holdings LtdTrading Statement
Imperial Brands PLCTrading Statement
LSL Property Services PLCFull Year Results
Norcros PLCTrading Statement
PZ Cussons PLCTrading Statement
Tesco PLCFull Year Results
XP Power LtdTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

Read more
31 Mar 2023 10:01

LONDON BROKER RATINGS: UBS likes Beazley; Berenberg cuts Wood Group

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
1 Feb 2023 09:33

LONDON BROKER RATINGS: Citigroup cuts Persimmon; HSBC raises Asos

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
25 Jan 2023 09:47

discoverIE on track to deliver annual earnings ahead of expectations

(Alliance News) - discoverIE Group PLC on Wednesday hailed positive trading momentum in the third quarter and announced the completion of the Magnasphere Corp acquisition.

Read more
25 Jan 2023 07:41

DiscoverIE FY underlying earnings seen ahead of expectations

(Sharecast News) - Customised electronics designer and manufacturer discoverIE said on Wednesday that full-year underlying earnings were set to be ahead of the board's expectations as it reported a jump in third-quarter sales and a strong order book.

Read more
6 Jan 2023 15:52

UK dividends calendar - next 7 days

Monday 09 January 
abrdn Equity Income Trust PLCdividend payment date
Caffyns PLCdividend payment date
Chelverton UK Dividend Trust PLCdividend payment date
Intermediate Capital Group PLCdividend payment date
Investec PLCdividend payment date
Tuesday 10 January 
LondonMetric Property PLCdividend payment date
Norcros PLCdividend payment date
Wednesday 11 January 
3i Group PLCdividend payment date
Assura PLCdividend payment date
Bellway PLCdividend payment date
Fidelity Special Values PLCdividend payment date
National Grid PLCdividend payment date
Personal Assets Trust PLCdividend payment date
Severn Trent PLCdividend payment date
VP PLCdividend payment date
Worldwide Healthcare Trust PLCdividend payment date
Thursday 12 January 
Ashtead Group PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCspecial ex-dividend payment date
D4T4 Solutions PLCdividend payment date
Ecora Resources PLCex-dividend payment date
European Assets Trust PLCex-dividend payment date
Focusrite PLCex-dividend payment date
GSK PLCdividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
Majedie Investments PLCex-dividend payment date
Majedie Investments PLCex-dividend payment date
Origin Enterprises PLCex-dividend payment date
Premier Miton Group PLCex-dividend payment date
Primary Health Properties PLCex-dividend payment date
Regional REIT Ltddividend payment date
Sage Group PLCex-dividend payment date
Schroder UK Mid Cap Fund PLCex-dividend payment date
Smiths News PLCex-dividend payment date
SSE PLCex-dividend payment date
TR Property Investment Trust PLCdividend payment date
Friday 13 January 
Associated British Foods PLCdividend payment date
BlackRock Energy & Resources Income Trust PLCdividend payment date
Devro PLCdividend payment date
discoverIE Group PLCdividend payment date
Gore Street Energy Storage Fund PLCdividend payment date
Helical PLCdividend payment date
ICG-Longbow Senior Secured UK Property Debt Investments Ltddividend payment date
Liontrust Asset Management PLCdividend payment date
Oxford Instruments PLCdividend payment date
Palace Capital PLCdividend payment date
Polar Capital Holdings PLCdividend payment date
Redde Northgate PLCdividend payment date
Schroder European Real Estate Investment Trust PLCdividend payment date
Scottish Oriental Smaller Companies Trust PLCdividend payment date
Triad Group PLCdividend payment date
Tritax EuroBox PLCdividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

Read more
22 Dec 2022 17:01

LONDON MARKET CLOSE: Stocks in the red after gloomy UK GDP print

(Alliance News) - Stock prices in London closed in the red on Thursday following news that the UK economy shrank by more than expected in the third quarter of the year.

Read more
22 Dec 2022 12:10

LONDON MARKET MIDDAY: UK stocks rise as Paris and Frankfurt head lower

(Alliance News) - Stock prices in London were higher at midday on Thursday, ahead of some key US economic data, while equities elsewhere were less buoyant.

Read more
22 Dec 2022 09:13

discoverIE buys US-based magnetic sensors designer for USD22 million

(Alliance News) - discoverIE PLC on Thursday said it has acquired Magnasphere, a US-based company that designs and manufactures magnetic sensors and switches for industrial electronic purposes.

Read more
22 Dec 2022 08:54

LONDON MARKET OPEN: Stocks feeling festive despite gloomy UK GDP print

(Alliance News) - Stock prices in London opened higher on Thursday, despite a gloomy GDP reading showing that the UK economy is falling behind its G7 peers.

Read more
22 Dec 2022 07:49

LONDON BRIEFING: Stocks to get into the holiday spirit after NY rally

(Alliance News) - Stocks in London were called to open higher on Thursday, as spirits are lifted by a rally on Wall Street on Wednesday, followed by a strong showing by Asian equities markets.

Read more
22 Dec 2022 07:02

DiscoverIE buys Magnasphere Corp for $22m

(Sharecast News) - Electronics maker discoverIE Group said it had bought US-based Magnasphere Corporation for $22m (£19.1m).

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.