The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVolution Group PLS Share News (FAN)

Share Price Information for Volution Group PLS (FAN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 451.50
Bid: 451.00
Ask: 453.50
Change: 1.50 (0.33%)
Spread: 2.50 (0.554%)
Open: 451.00
High: 454.50
Low: 450.00
Prev. Close: 450.00
FAN 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 CLOSE: FTSE 100 rises but banks struggle on Metro woe

Thu, 05th Oct 2023 16:54

(Alliance News) - Stock prices in Europe ended mixed on Thursday, with the FTSE 100 outperforming despite some pressure on its banking shares, which suffered in a negative read-across amid worries for Metro Bank.

A calmer day on the bond market helped support equities in Europe, but shares ended off session highs after a less-than-stellar start to trading in New York.

US bond yields could spike again if Friday's jobs report comes in hotter-than-expected and increases Federal Reserve interest rate expectations, which could mean further turbulence for equities.

In the UK, meanwhile, a Bank of England policymaker said there are signs that rate hikes are weighing on the economy.

The FTSE 100 index added 39.09 points, or 0.5%, at 7,451.54. The FTSE 250 climbed 107.08 points, or 0.6%, at 17,599.98. The AIM All-Share ended down just 0.47 of a point at 694.74.

The Cboe UK 100 rose 0.6% at 743.75, the Cboe UK 250 added 0.7% at 15,324.39, and the Cboe Small Companies edged up 0.1% to 13,246.48.

In European equities on Thursday, the CAC 40 in Paris closed fractionally higher, while the DAX 40 in Frankfurt fell 0.2%.

In New York, stocks were lower. The Dow Jones Industrial Average fell 0.5%, the S&P 500 lost 0.7% and the Nasdaq Composite gave back 0.9%.

The pound was quoted at USD1.2164 late Thursday in London, up from USD1.2144 at the London equities close on Wednesday. The euro stood at USD1.0526, higher against USD1.0515. Against the yen, the dollar was trading at JPY148.58, lower compared to JPY148.83.

Numbers on Thursday showed US initial jobless claims picked up, but were slightly lower than expected.

According to the US Department of Labor, initial claims for unemployment support rose to 207,000 in the week ended September 30, from 205,000 a week prior. The previous reading was upwardly revised by 1,000 from 204,000.

The latest figure fell sort of the FXStreet cited consensus, which predicted claims would rise to 210,000.

Focus now turns to Friday's nonfarm payrolls data, the official employment report. The reading is expected to show jobs growth of 170,000 in September, easing from 187,000 in August. The data is released at 1330 BST.

Bank of England Deputy Governor Ben Broadbent said there are "clear signs" that the Threadneedle Street's rate hikes are hurting the UK economy, Bloomberg reported.

At a European Central Bank event, Broadbent said economic indicators more sensitive to rate hikes have "weakened quite a lot".

The Bank of England last month decided against enacting another lift to UK interest rates in a split decision after a cooler than expected inflation reading took some pressure off the central bank.

The BoE maintained bank rate at 5.25%, a more than 15-year high, in what was somewhat of a surprise move. According to FXStreet cited consensus, a 25 basis point hike was expected, though a tamer UK inflation reading earlier this week meant some investors dialled back their rate hike bets.

It ended a streak of 14 successive hikes since December 2021, which have shot up the bank rate from a Covid-19-induced low of 0.10%. It is the BoE's first pause since November 2021.

In London, all eyes continued to be on Metro Bank shares. The stock plunged 26%. It confirmed that it is continuing to evaluate the best ways to enhance its capital resources.

The UK challenger bank was responding to a Financial Times report on Wednesday which said that Metro Bank is seeking to raise up to GBP600 million, citing people with knowledge of the plan.

The talks came after regulators last month failed to approve a request from Metro to lower the capital requirements attached to its mortgage business.

Analysts at Shore Capital Markets commented: "Although, according to a statement released by Metro Bank today, the group continues to meet its minimum regulatory capital requirements. Either way, it is clear that the group is operating very close to the line."

In a negative read across, NatWest lost 0.8%, Lloyds fell 0.4% and Barclays ended down 0.9%.

Imperial Brands climbed 3.9% after the cigarette maker announced a GBP1.1 billion buyback and said that it expects to deliver full-year trading in line with expectations.

The company said that, on a constant currency basis and including Russia, tobacco and next-generation products net revenue grew by a low single-digit percentage in the financial year that ended September 30.

Meanwhile, Imperial said its adjusted operating profit growth is expected to have accelerated to the "lower end" of its mid-single digit range.

Imperials Brands shares had suffered on Wednesday after UK Prime Minister Rishi Sunak announced smoking crackdown plans.

Sunak said that the legal age for buying tobacco in the UK should rise every year to stop youngsters taking up smoking, as he also pledged to crack down on the sale of disposable vapes to children.

He told the Conservative party conference in Manchester that "a 14-year-old today will never legally be sold a cigarette" under new legislation for England.

In the FTSE 250, Volution rose 8.4%.

The designer and manufacturer of energy-efficient indoor air quality solutions hailed "ever tightening regulations" as boosting demand for its business, as it declared a higher payout after its annual profit rose.

For the year ended July 31, Volution reported a pretax profit of GBP48.8 million, up 3.4% from GBP47.2 million a year prior. Revenue climbed 6.6% to GBP328.0 million from GBP307.7 million.

The company noted that demand in the refurbishment market has been "supportive" during the year, particularly in the UK where it saw demand in public refurbishment, maintenance and improvement market benefiting from the "heightened awareness of health risks associated with mould and condensation."

On the back of its robust annual results, Volution declared a final dividend of 5.5 pence per share, up from 5.0p a year prior. This brought the total dividend to 8.0p, which is 9.6% higher than 7.3p a year prior.

Hitting the buffers in Paris, train manufacturer Alstom slumped 37%. A key metric of its financial health turned negative due to higher inventories and delays in completing a UK deal.

Alstom released preliminary financial information on Wednesday showing negative free cash flow of EUR1.15 billion for the six months that ended September 30, the first half of its financial 2024, compared to EUR45 million a year earlier.

As a result, it now expects the full-year figure to reach as much as negative EUR750 million, after previously forecasting it to be "significantly positive".

Alstom has a "seemingly never-ending free cash flow problem", according to Deutsche Bank.

"The group's investment grade rating now looks at risk, with a capital increase becoming increasingly likely," analysts at the German bank added.

Brent oil fetched USD84.56 a barrel late Thursday in London, down markedly from USD87.91 at the London equities close on Wednesday. Gold was quoted at USD1,815.53 an ounce, lower against USD1,826.09.

Before the US jobs report in the afternoon, Friday's economic calendar has a Halifax UK house price index reading at 0700 BST and Irish gross domestic product data at 1100 BST.

The local corporate calendar has full-year results from JD Wetherspoon.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
6 Oct 2022 08:53

LONDON MARKET OPEN: Shell opens lower on third-quarter outlook

(Alliance News) - Stock prices in London opened higher on Thursday, with the midcap FTSE 250 index taking the lead as the blue chips were held back by a disappointing outlook for oil major Shell.

Read more
6 Oct 2022 07:44

LONDON BRIEFING: Stocks called higher; Truss doubles down on growth

(Alliance News) - Stocks were called higher on Thursday, and the pound held on to recent gains, despite continuing scepticism surrounding the UK government's focus on tax cuts.

Read more
6 Oct 2022 07:42

Volution hails good growth across geographies as FY profits rise

(Sharecast News) - Volution posted a rise in full-year profit and revenue on Thursday, as it highlighted good growth across all geographies.

Read more
29 Sep 2022 15:46

UK earnings, trading statements calendar - next 7 days

Friday 30 September 
abrdn Property Income Trust LtdHalf Year Results
Bluefield Solar Income Fund LtdFull Year Results
Cineworld Group PLCHalf Year Results
CMO Group PLCHalf Year Results
Dignity PLCHalf Year Results
DP Eurasia NVHalf Year Results
Falanx Group LtdFull Year Results
Glantus Holdings PLCHalf Year Results
HealthBeacon PLCHalf Year Results
ImmuPharma PLCHalf Year Results
Iofina PLCHalf Year Results
Oncimmune Holdings PLCHalf Year Results
Pennon Group PLCTrading Statement
Quarto Group IncHalf Year Results
Strip Tinning Holdings PLCHalf Year Results
Sylvania Platinum LtdQ1 Results
Trellus Health PLCHalf Year Results
Monday 3 October 
James Halstead PLCFull Year Results
Quadrise Fuels International PLCFull Year Results
Renewi PLCTrading Statement
SRT Marine Systems PLCHalf Year Results
Tortilla Mexican Grill PLCHalf Year Results
Tuesday 4 October 
Greggs PLCTrading Statement
Inspiration Healthcare Group PLCHalf Year Results
Wednesday 5 October 
Hyve Group PLCTrading Statement
Netcall PLCFull Year Results
Tesco PLCHalf Year Results
Vertu Motors PLCHalf Year Results
Thursday 6 October 
Avation PLCFull Year Results
Chemring Group PLCTrading Statement
CMC Markets PLCTrading Statement
Ferrexpo PLCQ3 Results
Imperial Brands PLCTrading Statement
N Brown Group PLCHalf Year Results
Volution Group PLCFull Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
15 Sep 2022 09:30

LONDON BROKER RATINGS: Credit Suisse cuts AstraZeneca and raises GSK

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

Read more
21 Jul 2022 10:03

Volution expects annual earnings at top end of market forecasts

(Alliance News) - Volution Group PLC on Thursday said it expects annual earnings towards the top end of forecasts, boosted by Europe and changes in UK's building regulations.

Read more
21 Jul 2022 09:03

LONDON MARKET OPEN: Large-caps down ahead of ECB; Russian gas resumes

(Alliance News) - Large-cap stocks in Europe struggled in early dealings on Thursday, as traders await a policy decision from the European Central Bank and after gas supplies through the critical Nord Stream pipeline restarted.

Read more
21 Jul 2022 08:32

Volution FY earnings seen at top end of market expectations

(Sharecast News) - Ventilation equipment manufacturer Volution said on Thursday that full-year earnings had come in at the top end of market expectations, with strong sales growth and margins maintained throughout the year.

Read more
10 Jun 2022 09:46

LONDON BROKER RATINGS: Berenberg downgrades Travis Perkins to hold

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

Read more
25 May 2022 11:08

Volution expects earnings to be at upper end of market expectations

(Alliance News) - Volution Group PLC on Wednesday said its order books and activity levels are high, despite supply chain disruption.

Read more
25 May 2022 10:05

LONDON BROKER RATINGS: JPMorgan cuts Hikma; Liberum likes Trustpilot

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

Read more
25 May 2022 07:07

Volution Group Q3 revenues grow, FY earnings seen at upper end of expectations

(Sharecast News) - Ventilation equipment manufacturer Volution Group said on Wednesday that it had continued to perform "strongly" through the second half of its trading year, with the company expecting FY earnings to be towards the upper end of market expectations after third-quarter revenues grew 17.6% at constant currency.

Read more
26 Apr 2022 16:01

UK dividends calendar - next 7 days

Wednesday 27 April 
Close Brothers Group PLCdividend payment date
Thursday 28 April 
4imprint Group PLCex-dividend date
AEW UK REIT PLCex-dividend date
AVI Japan Opportunity Trust PLCex-dividend date
Bakkavor Group PLCex-dividend date
Carr's Group PLCex-dividend date
Coats Group PLCex-dividend date
CQS Natural Resources Growth & Income PLCex-dividend date
CQS New City High Yield Fund Ltdex-dividend date
Derwent London PLCex-dividend date
Drax Group PLCex-dividend date
Ecofin Global Utilities & Infrastructure Trust PLCex-dividend date
Fresnillo PLCex-dividend date
Henderson Far East Income Trust PLCex-dividend date
Hikma Pharmaceuticals PLCdividend payment date
HSBC Holdings PLCdividend payment date
Kenmare Resourcesex-dividend date
LSL Property Services PLCex-dividend date
M&G PLCdividend payment date
M P Evans Group PLCex-dividend date
Mobius Investment Trust PLCex-dividend date
Morgan Advanced Materials PLCex-dividend date
Morgan Sindall Group PLCex-dividend date
Mortgage Advice Bureau (Holdings) PLCex-dividend date
Northamber plcdividend payment date
Porvair PLCex-dividend date
Reckitt Benckiser Group PLCex-dividend date
Rightmove PLCex-dividend date
Sabre Insurance Group PLCex-dividend date
Sabre Insurance Group PLCspecial ex-dividend date
Schroder Oriental Income Fund Ltdex-dividend date
Secure Income REIT PLCex-dividend date
Smart Metering Systems PLCdividend payment date
St James's Place PLCex-dividend date
Synthomer PLCex-dividend date
Tate & Lyle PLCspecial ex-dividend date
TT Electronics PLCex-dividend date
Tyman PLCex-dividend date
XP Power Ltddividend payment date
Friday 29 April  
BlackRock Sustainable American Income Trust PLCdividend payment date
BMO Private Equity Trust PLCdividend payment date
CLS Holdings PLCdividend payment date
European Assets Trust PLCdividend payment date
European Smaller Cos Trust PLCdividend payment date
GlobalData PLCdividend payment date
Greggs PLCspecial dividend payment date
Henderson High Income Trust PLCdividend payment date
ICG-Longbow Senior Secured UK Property Debt Investments Ltd dividend payment date
Lowland Investment Co PLCdividend payment date
Martin Currie Global Portfolio Trust PLCdividend payment date
Quartix Technologies PLCspecial dividend payment date
Quartix Technologies PLCdividend payment date
RIT Capital Partners PLCdividend payment date
RM PLCdividend payment date
Shires Income PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Value & Indexed Property Income Trust PLCdividend payment date
Monday 2 May 
no events scheduled 
Tuesday 3 May 
DS Smith PLCdividend payment date
Mercantile Investment Trust PLCdividend payment date
Volution Group PLCdividend payment date
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
8 Apr 2022 09:36

LONDON BROKER RATINGS: Jefferies raises Volution to 'buy' from 'hold'

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

Read more
8 Apr 2022 08:49

LONDON MARKET OPEN: US rally drives gains; Ferrexpo leads midcaps

(Alliance News) - Stocks in London opened higher on Friday on the back of overnight gains on Wall Street, while Ukraine-focused Ferrexpo led the midcaps on hopes its prospects are not as dire as first feared.

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.