Rank Group resilient despite William Hill deal drop
Bookmaker Rank Group said trading is unlikely to be affected by Brexit, with its business largely focused on the UK market.
Performance in the seven weeks to August 15th remained in line with analysts’ expectations, reporting a 2 percent fall in operating profit.
The figures come just days after Rank Group dropped its bid to buy William Hill after the joint takeover proposal was rejected by the high street bookmaker.
Rank Group (LON:RNK) is currently up 3.25 percent at 228.70 (1052GMT).
Euro zone business growth unaffected by Brexit
Euro zone business activity remained stable in August, suggesting any slowdown in economic growth has been limited to the UK.
MarkIt’s Purchasing Managers’ Index rose to 53.3, 0.1 up on June’s figure and the highest reading for seven months.
Chris Williamson, Markit’s chief economist, said:
“Policymakers will be quite encouraged that it is moving in a positive direction. It looks cautiously optimistic for the region in the face of the Brexit threat.”
Persimmon up 5 percent, defies Brexit uncertainty
Shares in housebuilder Persimmon have risen nearly 5 percent this morning, after reporting first half-profits buoyed by “robust” customer interest.
Profits jumped 29 percent to £352.3 million in the first half of 2016, with the private sale reservation rate up 17 percent.
Despite the increased economic uncertainty sparked by Brexit, customer interest has remained strong and visitors to its sites were up 20 percent year on year.
Persimmon (LON:PSN) is currently up 4.35 percent at 1,872.00 (1046GMT).
23/08/2016
