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.
Trading volume in Asiamet shares are 600% above the monthly average, as investors look to take advantage of the recent dip in price the company experienced following the speculation regarding protests in the Nagan Raya area where its Beutong asset is located.
Philip Hammond gets a £10 billion boost for Budget spending after fall in borrowing, China growth slowest since financial crisis as trade war looms.
Andalas Energy (ADL), recently released its corporate presentation to the public underlining its new ongoing strategy. The oil and gas exploration and production company explores opportunities in assets in the UK and Indonesia.
Read a roundup of This Week’s Trading Updates: Broker and Tipster Sentiment by Stockomendation Analyst James Bowden.
On today's podcast: David Ciclitira, Executive Chairman of Live Company Group (LVCG) talks about their recent acquisition of Bright Bricks and about general progress at the company. Also Russ Mould, Investment Director at stockbroker AJ Bell talks about: Zytronic (ZYT), Redcentric (RCN) & Tharisa (THS).
SP Angel morning note on commodities featuring: Scotgold Resources* (SGZ LN) – Cononish update
See Today's AIM Risers Featuring Safestay, CAP-XX, Fontera Resources and PhotonStar LED Group
Unilever overhaul could be ditched after backlash, Amazon creates 1,000 new UK research roles as tech giants hone in on British talent, HSBC to list shares in Shanghai in ‘symbolic’ move
Five financial stories, trending today in a 70 second podcast, including: Food sales saw their steepest drop in three years in September as consumers tightened their belts after the unusually hot summer, the Office for National Statistics (ONS) has said. Sales of food were down 1.5% in the month, contributing to a 0.8% fall in total UK retail sales.
As predicted, shares in New York have fallen into the red in early trading, Unilever has ‘no regrets’ on U-turn over HQ as sales grow