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Adewins

I wonder what year Goldman Sachs expects to see 80p price target

Looks like the market is working alongside Lloyds suppressing share price and keeping the dividend payment low to shareholders

Mitchells & Butlers (M&B) share price soared over five per cent this morning, as the pub and restaurant chain revealed a 9.7 per cent rise in revenues in the third quarter.

The All Bar One owner was bolstered by a record breaking Fathers Day in June, with like-for-like sales in food and drink during the quarter up 11.6 per cent and 7.4 per cent respectively.

Mitchells & Butlers PLC (LSE:MAB) shares frothed up 7% to a year's high of 230p after the pub group reported improving sales growth and said cost inflation is "starting to abate".

Like-for-like sales were up 8.9% for the year to date, having improved to 9.7% in the third quarter from 8.5% in the first half

Tomorrow morning could be a game changer for UFO Thursday RNS with news on the long awaited Native Title this share price could rally 🤞

BRITAIN’S biggest mortgage lender offered hope to the nation’s homeowners today and predicted the UK will no longer fall into recession next year.

Lloyds Banking Group said Bank of England interest rates should peak at 5.5% -- far below the 7% some in the City were fearing just weeks ago

https://www.standard.co.uk/business/lloyds-bank-recession-mortgage-alison-rose-charlie-nunn-b1096674.html

July 26 (Reuters) - Pub group Marston's (MARS.L) on Wednesday reported higher like-for-like sales thanks to demand for premium lagers and signature burgers during hot weather in Britain, driving its shares up 5%.

The Wolverhampton-based pub chain, which has several beer gardens, posted a 10.9% rise in sales for 16 weeks ended July 22 from a year ago.

Rio Tinto has reported its lowest first-half year profits since the pandemic as falling iron ore prices dragged down earnings.

The Anglo-Australian miner has reported underlying earnings of £4.42bn ($5.7bn) for the first six months of the year, well below the £6.69bn ($8.63bn) figure posted 12 months ago.

https://www.cityam.com/rio-tinto-profits-sink-as-iron-ore-prices-ease-and-chinas-economy-stutters/

A poor set of second quarter earnings out this morning from Lloyds Bank, the UK’s largest mortgage lender, forced the bank’s share price down 3.83 per cent and to the bottom of the FTSE 100.

https://www.cityam.com/ftse-100-live-soft-lloyds-bank-results-spark-sell-off-as-natwest-tumbles-after-alison-rose-exit/

Good set of figures out today looking forward to the open 📈

Hardup

I think you could be right with the rates rising again will spook the market wiping out any gains today

Board to announce an interim ordinary dividend of 0.92 pence per share, up 15 per cent on the first half of 2022

Hopefully we get a interim dividend of 1.00 pence this is a 25% per cent increase on prior year

BEIJING, July 25 (Reuters) - Several Chinese steel mills have received instructions to cap this year's output at the same level as 2022, five people familiar with the matter and analyst reports said on Tuesday, potentially curbing iron ore demand in the world's top steel market.

Three mills owned by the world's biggest steelmaker, state-owned China Baowu Steel Group, were given verbal instructions that output should not exceed that of 2022, said four of the sources, with two adding the orders were delivered yesterday

https://www.reuters.com/markets/commodities/some-chinese-steel-mills-ordered-cap-output-this-year-sources-2023-07-25/

Chinese gross domestic product grew by 6.3% year-on-year in the second quarter, Beijing announced Monday, below market expectations for a 7.3% expansion after the world's second-largest economy emerged from strict Covid-19 lockdown measures.

https://www.google.com/amp/s/www.cnbc.com/amp/2023/07/25/what-new-norm-of-slower-chinese-growth-could-mean-for-the-global-economy.html

Interest rates are expected to increase in the US and Europe this week but the market will be looking for signals that central banks think this round of monetary tightening is close to an end.

The Federal Open Market Committee is widely expected on Wednesday to raise its benchmark rate by another quarter of a percentage point following a reprieve in June.

That will increase the federal funds rate to a target range of between 5.25% and 5.5%.

Jim Reid at Deutsche Bank thinks the US Federal Reserve will almost certainly hike by 25 basis points “which we and the market expect to be the final hike in the cycle.”

https://www.proactiveinvestors.co.uk/companies/news/1021496/fed-and-ecb-expected-to-lift-interest-rates-once-again-1021496.html

Yayay

""Maybe I'm wrong, but I seem to remember that Native Title News was expected in "Q3". So how has "Q3" become compressed into "July"? Are August and September surplus to requirements?""

Shouldn't make up dates with guessing time scales best stick the the facts RNS says ( there is a key Native Title meeting scheduled in July following which the Company will have a clearer idea on the timing for production )

Atom Bank has notched its first full year of operating profit today after jacking up its savings rates and nearly doubling its customer base over the past year.

In its full year accounts this morning, the Durham-based fintech bank reported a £4m operating profit for the year – up from a loss of £2m 12 months ago – as its customer base nearly doubled to 224,000

https://www.cityam.com/atom-bank-swings-to-first-profit-as-juicy-rates-tempt-in-savers/

Commenting on the flash PMI data, Chris Williamson,

Chief Business Economist at S&P Global Market

Intelligence said:

“The UK economy has come close to stalling in July which, combined with gloomy forward-looking indicators, reignites recession worries.

“July's flash PMI survey data revealed a deepening

manufacturing downturn accompanied by a further cooling of the recent resurgence of growth in the service sector.

“Rising interest rates and the higher cost of living appear to be taking an increased toll on households, dampening a post-pandemic rebound in spending on leisure activities.

Meanwhile, manufacturers are cutting production in

response to a worryingly severe downturn in orders, both from domestic and export markets.

“Forward-looking indicators, such as order book inflows, levels of work-in-hand and future business expectations, all point to growth weakening further in the months ahead, adding to a risk of GDP falling in the third quarter. “An upside to the deteriorating growth and demand picture is a further cooling of inflationary pressures. Manufacturing prices are falling at an increased rate and service sector inflation is continuing to moderate. Although ongoing upward wage pressures mean service sector price growth

remains elevated, the survey data signal further,

potentially marked, falls in consumer price inflation in the months ahead.”

Higher rates and inflation to limit economic growth in 2024

The EY ITEM Club has more than halved its forecast for UK economic growth in 2024 despite raising expectations for the current year.

The economic thinktank now expects UK GDP to rise by 0.8% next year compared to 1.9% growth it previously forecast.

https://www.proactiveinvestors.co.uk/companies/news/1021473/higher-rates-and-inflation-to-limit-economic-growth-in-2024-ey-1021473.html?rel=scroll