I thought this HSBC e-newsletter might be of interest to readers:
Weekly review
Friday 30 Jun 2023
(Sharecast News) - The FTSE 100 ended the week up 69.66 points, or 0.93%, finishing at 7,531.53 on Friday.
Equity view
Barratt Developments has a agreed the future sale of 604 homes to Citra Living Properties, a wholly-owned subsidiary of Lloyds Bank for £168.4m. The housebuilder on Friday said it would recognise revenue and profit on the legal completion of each home under the sale agreement.
Energy group Centrica has increased capacity its previously mothballed Rough gas storage facility, it confirmed on Friday. The owner of British Gas said that following engineering work, the facility - located 18 miles off the coast of east Yorkshire - can now hold 54bn cubic feet of gas, the equivalent of around six days of average gas use.
Global automotive distributor Inchcape has formed a global strategic partnership with China's Great Wall Motor Company, the company said on Friday. Under the partnership, Inchcape and GWM will develop new areas of collaboration, including opportunities to distribute GWM vehicles in markets where Inchcape is already present, starting with Indonesia.
Vanquis Banking Group has named City veteran Sir Peter Estlin chair, the subprime lender confirmed on Friday. The former acting chief financial officer of Barclays will succeed Patrick Snowball, who announced plans to step down as chair earlier in the year. Estlin joined the board of Vanquis, previously Provident Financial, as a non-executive director in April.
UK insurer Direct Line said rectifying unfair motor claim payments over a five-year period to 2022 would not have a "material financial impact" on this year's results. The company was on Wednesday ordered by Britain's Financial Conduct Authority to carry out a review of total losses where vehicles had been written off after it admitted it had underpaid some car and van insurance customers.
Construction group Morgan Sindall lifted annual guidance driven by a strong performance from its fit-out division in the first half. The company on Thursday said the division had continued to perform strongly since a trading update in May and was now expected to show a 40% year-on-year first-half profit rise.
Dutch discounter Action is on track to deliver another strong quarter of profit growth, owner 3i Group said on Thursday. In a brief trading…
