Below is a selection of the morning's key market news, earning reports & trending stories - see more here.
After John Lewis’ dismal 99% profit fall yesterday, Co-operative Group brought some cheer for mutual groups with its results today.
The UK’s largest mutual group said pretax profits had risen a massive 86% from £14m to £26m in the first six months of the year.
Revenue also increased by 10% as sales at its food business grew by 4.4%.
Yesterday John Lewis, which also owns Waitrose, posted a profit drop from £83m to £1.2m for the six months to 28th July.
Steve Murrells, chief executive of The Co-op said: "We're moving forward at pace with our stronger Co-op, stronger communities plan.
”We know that in order to make a difference we have to be commercially successful and our performance in the first half shows that we're delivering on that ambition. Our investment in products, price and distribution channels has seen us grow revenue, profit and member value in the first six months."
Pub group JD Wetherspoons posted a strong 5% increase in like-for-like sales in its preliminary results.
Profit before tax for the group, which opened its first pub in 1979, also increased by 4.3% from £102.8m to 107.2m.
Commenting on the results, Tim Martin, the Chairman of J D Wetherspoon plc, said:
"There will be a huge gain for business and consumers if the UK copies the free trade approach of countries like Singapore, Switzerland, New Zealand,Australia, Canada and Israel, by slashing protectionist EU import taxes ('tariffs'), on leaving the EU in March next year.
"These invisible tariffs are charged on over 12,000 non-EU products, including rice, oranges, coffee, wine and children's clothes. The proceeds are collected by the UK taxman and sent to Brussels.”
Ross McEwan has been accused of deliberately misleading MPs to avoid disclosing a police investigation into an alleged bribery scandal at the bank’s restructuring unit.
The Treasury Select Committee said Ross McEwan had withheld “information of relevance and interest to the committee” when he appeared before MPs in January.
In a letter publishing yesterday, chair of the committee Nicky Morgan said that his response “fits with a pattern of defensiveness that has served RBS extremely poorly in its handling of the GRG affair”.
See our roundup of today's AIM risers, featuring a new contract win by Filtronic and Xeros, and continued positive reception of Global Petroleum's exploration license
Investors demand change as Ryanair survives revolt, Sky battle lines drawn as Fox, Disney and Comcast prepare for £27bn auction, Investors check out as Burberry's new collection disappoints - read our morning press roundup.
Five financial stories, trending today in a 70 second podcast, including: Cabinet minister Chris Grayling has said there will be no deal on Brexit if the EU does not soften its position on the Irish border.
The FCA regulated UK brokerage Trading 212 has become the first to offer unlimited commission-free share trading in the UK and Germany. Over in the US, Robinhood, the highly successful fintech offers zero commission trading to millions of US customers, has been long rumored of expanding into the U.K. It has enabled millions of investors to buy shares in popular US companies such as Amazon, Tesla and Apple without paying commission to traditional brokers.
Following its notice of interim results yesterday, shares in Deltex Medical Group (DEMG), have risen over 27% yesterday afternoon in anticipation of the results, which will be announced on Monday 24 September 2018. Deltex is the global leader in its proprietary Oesophageal Doppler Monitoring (ODM) - the only technology to measure blood flow in central circulation in real time.
SP Angel morning note on commodities featuring BlueRock Diamonds, Caledonia Mining, Mkango Resources and more.
On today's podcast: Hummingbird Resources: Initial Exploration Results and Second Ball Mill approved for Yanfolila. Reabold Resources: Successful Test at VG-3 Well, California. Anglo-Asian Mining: Interim Results and Maiden dividend.
Oil & gas investment company Reabold Resources (RBD) today said it was “delighted” to announce that its contract operator had completed a successful test at its well in West Brentwood. Integrity Management Solutions, the contract operator of Reabold’s California investments, undertook the successful test at the Venturini-Ginochio #3 well. In the first first 36 hours of testing, Integrity accumulated over 400 barrels of oil (gross) ready for sales.
Malcy's daily blog on oil and mining companies, covering Jersey Oil & Gas, Range Resources and Hurricane Energy.
See our roundup of today's AIM risers, featuring Adept4 settling a legal dispute, Crimson Tide's contract wins, and a new drilling programme with Lansdowne & Providence.