Below is a selection of the morning's key market news, earning reports & trending news - see more here.
The report said that Mike Ashley was close to an agreement to buy the chain from EY, who were appointed as House of Fraser’s administrator this morning. The deal is expected to be announced today, but could still fall through or be trumped by another party.
The Office for National Statistics publishes its UK Q2 GDP figures this morning at 9.30am. After growth slowed to 0.2% for the first quarter of the year, it is expected that this will increase to 0.4% for the second quarter.
Barclays said: “We expect GDP to print +0.4% q/q in Q2 as the economy recovers from Q1 disruptions and benefits from temporary positive factors.” UK manufacturing figures are also due out, with output expected to increase by 0.3%m/m while rising 1.0% y/y in June.
UPDATE: UK Economy Grows by 0.4%
The UK economy grew by 0.4% in the second quarter of 2018. This is up from 0.2% in the first quarter of the year. This uptick was in line with expectations in the City.
Despite this, the UK manufacturing sector is now in recession after two quarters in a row, the industrial sector shrinking by 0.8% between April - June.
Read our roundup of today's small cap news headlines & AIM risers, featuring a new contract win by 7digital, a share increase for specialist flooring company Airea, Venture Life group’s trading update & interim results, Biffa’s £16.2m acquisition of Weir Waste Services and Independent Oil & Gas’ £15m loan - read the full market roundup here.
Listen to today's podcast, featuring 7digital, BigDish, Bonhill, Russ Mould & John Meyer.
We have added a complete list of all current short positions taken against UK-listed companies.
We have just released the August edition of our IPO Watch digital magazine, which introduces you to the companies listing on the London Stock Exchange, featuring Sensyne Health, Strongbow Exploration and Gamfook Jewellery.
In today's blog, Malcy covers SDX Energy, Victoria Oil & Gas, Faroe Petroleum, Independent Oil & Gas and Upland Resources.
The United States has threatened to impose sanctions on Turkey if the country does not release a controversial American pastor, UK retail sales increased more than expected yesterday, growing by 0.7%, and trade talks between China and the US will take place next week.
Read our morning paper review featuring news that Amazon is considering setting up a UK insurance comparison site, the latest apprenticeships figures which fell by 31%, On The Beach's £20m acquisition & the Takeover Panel confirmation that Disney will have to offer at least £14 a share to buy Sky.
Oil prices fell today, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth.
Read SP Angel's view for today, which looks at the repercussions of the Genoa bridge collapse and news from Amur Minerals, Horizonte Minerals, IronRidge Resources, Shanta Gold, Stratex International and more.
Read our roundup of today's small cap news headlines & AIM risers, featuring Abzena, BigDish, Ashley House, Summit Therapeurics & more.