Source: Sharecast
STOCKS TO WATCH
IT support and services firm Computacenter said on Monday that it continues to expect FY25 adjusted operating profits to be ahead of FY26 after delivering "strong revenue growth" in H1. Computacenter said its increased revenues were largely driven by growth in its high-volume technology sourcing business.
British food producer Cranswick maintained its FY guidance as like-for-like revenue rose 7.9% on the back of new business wins and increased consumer demand for natural protein. Cranswick still expects adjusted pre-tax profits to be between £206.5m and £213.6m, according to a company-compiled consensus of broker forecasts.
NEWSPAPER ROUND-UP
Gambling lobbyists are staging a summer charm offensive designed to stop ministers from raising taxes on the sector, the Guardian has learned, including meeting with Treasury insiders and hosting a darts evening with Labour special advisers and MPs' staff. The Treasury is considering whether to simplify the various rates of duty applied to gambling products, a measure that the £11.5bn-a-year sector fears would increase its overall tax bill. – Guardian
A private equity company accused of ousting a multimillionaire used car salesman from his own business has offered to pay €1.1m to settle a separate case with him. Peter Waddell filed his first high court claim against Freshstream last year, alleging that the investment firm used an independent investigation into contested sexist, racist and abusive comments "as a means of securing [his] exclusion" from his used car empire, Big Motoring World. Freshstream had acquired a one-third share in Big during 2022. – Guardian
Taxpayers would save up to £5.0bn next year if Andrew Bailey overhauls the Bank of England's controversial programme of bond sales, analysts have calculated. Deutsche Bank has said Rachel Reeves would be spared from transferring billions of pounds to Threadneedle Street if it stopped selling long-term debt amid a dramatic drop in bond prices. – Telegraph
Thames Water has warned that plans to build 100 new data centres across London and the South East will pile more pressure on its creaking infrastructure. The utility giant said it had identified 108 "hyper or large" data centres that will drive up demand in its region, with bosses suggesting it will have to manage water supplies carefully to ensure there is no impact on households. – Telegraph
The UK is in a "debt doom loop", according to the founder of one of the world's biggest hedge funds, who recommended people put at least 15% of their savings into gold or bitcoin to help shield them from potential market turmoil. Ray Dalio, the billionaire founder of Bridgewater Associates in the United States, said the bond markets were too complacent about the excessive borrowing by many western governments and the risks were not fully priced in. – The Times
US CLOSE
Wall Street stocks closed higher on Friday, with all three major indices closing out the week at least 1% higher.
At the close, the Dow Jones Industrial Average was up 0.47% at 44,901.92, while the S&P 500 advanced 0.40% to 6,388.64, and the Nasdaq Composite saw out the session 0.24% firmer at 21,108.32.
Reporting by Iain Gilbert at Sharecast.com