Revenue increased 27% to GBP3.58 billion from GBP2.83 billion, with growth seen across all three of the firm's main businesses.Įlsewhere in London, Wagamama-owner Restaurant Group added 7.6% as it announced that Chair Ken Hanna will step down at the firm's annual general meeting in 2024, expected in May. The investment vehicle - operated by Goldman Sachs Asset Management - swung to a profit of GBP129.3 million in the first half of the year, but said lower partner realised performance fees caused its total income to fall.Īnalysts at Jefferies said the half-year results reflected the "slower pace" of private markets activity in the period, with the cut to partner fee-related earnings reflecting the "slower deployment environment" pushing back fee activations.Ĭomputacenter surged 15% after the computer services firm reported higher half-year profit and revenue, and said it expects to grow earnings per share for the 19th year in a row in 2023.Ĭomputacenter said its pretax profit for the six months that ended June 30 totalled GBP122.8 million, up 14% from GBP107.8 million a year previous. In the FTSE 250, Petershill Partners plunged 14%, making it the index's worst performer at the close on Friday.
The aerospace manufacturer had ended 5.3% higher on Thursday after it upgraded its full-year guidance on the back of strong interim results. In London, Melrose Industries was the worst blue-chip performer at the close on Friday, closing down 4.4%, giving up most of its gains from Thursday's session. The currency has now remained below the USD1.25 for two consecutive. Sterling was quoted at USD1.2477 at the London equities close on Friday, up a touch from USD1.2470 at the close on Thursday. However, what was good news for markets was bad news for the pound, which remained weak on Friday. "A looser labour market helps to keep wage expectations and bargaining power down, which in turn can help to keep inflation on a more favourable trajectory," she explained. This, she argued, would suggest interest rates are having the "desired effect" and adds weight to the argument that rates are "near the top of the cycle." The report showed that the UK jobs market slowed sharply in August, as the weaker economic outlook depressed recruitment activity.įor Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, the contraction suggested "heat" may coming out of the economy in a "more pronounced way". "I think we are much nearer now to the top of the cycle," Bailey told a panel of cross-party lawmakers gathered to question the BoE chief on the state of the UK economy with UK inflation the highest among G7 nations.įrancesco Pesole at ING said the comments made investors have doubts "for the first time" about whether the BoE will hike rates at all at its September meeting, having previously expected another one or two hikes.įigures from KPMG and REC UK helped further support this belief that rates may soon hit their peak. On Wednesday, BoE Governor Andrew Bailey hinted that the UK central bank was close to ending a prolonged policy of raising interest rates amid expectations that inflation will fall substantially by the end of the year. This week, interest rate expectations in the UK have shifted dramatically following some weak economic data and dovish rhetoric from central bank chief Andrew Bailey. The Bank of England's next interest rate decision is expected on September 21. The AIM All-Share closed up 7.76 points, or 1.1%, at 743.44 and ended 0.3% higher over the past five days. The FTSE 250 ended up 79.34 points, or 0.4%, at 18,463.19 but finished the week down 0.4%. The FTSE 100 index closed up 36.47 points, or 0.5% at 7,478.19 on Friday, and ended the week 0.2% higher. (Alliance News) - Stocks in London closed in the green on Friday, with markets riding high on the hopes that interest rates in the UK may soon hit their peak.
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