Boeing has secured a ten year, £9bn deal, with the UK that will see the UK government buy 9 marine patrol planes (P-8AS). The move means that to allocate the space needed to manufacture the planes, Boeing will build a new £100m facility in RAF Lossiemouth in Moray doubling the number of staff in the UK currently employed under Boeing. Uncertainty over the economy has shaken all sectors within the UK since the EU referendum and the new deal will restore some faith in the government’s ability to maintain defence spending at 2% GDP. The EU Referendum introduced fears that global companies would relocate from the UK should there be a Brexit vote. Boeing quelled these fears as it told investors that it would not move any of its business away from the UK and that its decision to make the UK its European headquarters was ‘neutral’. The deal is set to create up to 2,000 new jobs in the UK that will expand on maintenance support for commercial and military operations. The deal was announced today at the start of the 2016 Farnborough Air show by Prime Minister David Cameron. Mr Cameron said: “I’m delighted that we can announce today a long-term strategic initiative with Boeing that will create thousands of jobs, secure investment in R&D and create opportunities for the supply chain, as well as delivering on our defence commitments. “Boeing is one of the world’s most respected aerospace companies. This long-term commitment shows the UK is open for business, and attractive for investment.” The deal will also see the delivery of 50 Apache AH-64E attack helicopters that will serve in the British Army alongside a separate deal reached by the UK government for a further £365m worth of aerospace research and development provided for by both parties. The air show also provided the stage for the US company to announce its annual outlook for demands on civil aircraft’s. The company expects that demands up until 2035 will reach £4.6 trillion as the total number of planes needed by then will reach 39,600. Randy Tinseth, Vice-president of marketing at Boeing said: “Despite recent events that have impacted the financial markets, the aviation sector will continue to see long-term growth, with the commercial fleet doubling in size,” 11/07/2016

Nintendo (TYO:7974) shares have jumped over 20% following the immediate success of its new ‘Pokémon Go’ smartphone game. Over the past two trading days, the success of the gaming app has seen shares rise 34% adding $7.5 billion to its market value according to Reuters. Today, Nintendo stocks rallied 24.52% higher closing at 20,260 yen per share (£155.19). This leap is the highest since 1983 and is the first Nikkei share to breach the 20,000 yen barrier in 2016. The game, that has sent new generations and lifelong fans into a frenzy, was debuted last Wednesday on IPhone and Android devices in the U.S, Australia and New Zealand. The debut sent the app to the top of US gaming charts resulting in an early 10% rise in shares in the Kyoto-based company. The game which is not yet available in the UK, lets users track down virtual Pokémon game characters in real-life environments. The game has encouraged a surge of gamer’s to leave their homes and move around their local neighborhoods in a bid to hunt down the virtual characters on their smartphone screens. Nintendo has been reluctant to release products based on its best known characters such as the Super Mario Bros and Pokémon due to its sole commitment to console based gaming. But the recent partnership with mobile firm DeNa has enabled the company to enter the smartphone gaming platform and has already covered up the recent failure of its Wii U launch. As a result of its success, Nintendo has now promised four more smartphone games in the year ending March 2017 as analysts predict profits of up to 45bn yen (350m) 11/07/2016

Persimmon PLC (LON:PSN) announced in its latest trading update that it is ‘too soon to judge’ the impact of the EU Referendum will have on the UK housing market. Persimmon’s said: “We believe that market fundamentals remain strong, supported by long term unfulfilled demand, and that the UK housing market will continue to provide good opportunities for those companies with the right strategic focus and the balance sheet strength to navigate future changes in trading conditions” Despite having shares drop more than 30% since Brexit, the group announced that completion volumes have increased by 6% to 7,238 new homes compared to 6,855 homes in the same period last year. Selling prices also increased by 6% to £205,500 compared to £194,378 in 2015. As a result, Group revenues increased 12% to £1.59bn up from £1.33bn in 2015. This results are retrospective and the next set of ‘post-brexit’ results will be watched closely. In its trading update the company also said they took “good levels of sales” through May and June despite a “period of increasing uncertainty” in the build up to the EU Referendum. As well as improvement in sales, the company said site visitors during the first six months of the year were 8% stronger than the previous year with the group’s total forward sales valued at a promising £1.36bn. This figure is expected to grow over the second half of the year based on pre=Brexit market conditions. “We remain confident in the Group’s prospects based upon our long term strategy, the hard work and dedication of all our team, the Group’s excellent forward orders, strong land bank and robust financial position” Persimmon said. 05/07/2016

Imagine Technologies Group PLC (LSE:IMG) today posted its final results for the year ended 30 April 2016. The leading multimedia company mainly known for its chip processor contribution to the IPhone production industry has stated that it has begun “swift and decisive” action after a challenging year that has seen its biggest fall in earnings in its 30 year history. The FTSE 350 Company reported that total revenue for the year ended April 30 had fallen 23%, declining to £120m from £156.8m. Licensing revenue from continuing operations fell to £17.1m from £37.8m as royalty revenue from continuing operations also dropped to £102.7m from £118.4m in 2015. The company reported a pre-tax loss of £63.2m down £5.7m after previous earnings of £2.2m a year earlier. In reaction to its report, immediate early morning trading dragged shares in the company down by 7.8% falling to £1.68.13p. Andrew Heath, Chief Executive, said: “As previously indicated in our trading update in May, the last year has been particularly challenging for Imagination. The results reflect a combination of difficult trading conditions and a significant restructuring of the business. “However, we have now taken the necessary action to put Imagination back onto a sound financial footing. Slower market activity and weaker sales in one of its largest shareholders, Apple, are thought to be behind the dramatic fall in revenue and profit. Plans announced by Chief Executive Andrew Heath who was appointed five months ago said the Hertfordshire based company will aim to save £27.5m by the end of the year by planning to increase investment in PowerVR after reporting ‘significant profits’ as well as increasing investment of up to £1.5m in graphics technology firms MIPS and Ensigma. As a result of cost-cutting schemes the tech firm announced that a total of 520 employees from its engineering activities will leave the group. So far 350 jobs have been cut since February. 05/07/2016

The UK’s construction purchasing managers index (PMI) came in at 46.0 down from 51.2 in May, dropping below the crucial 50 mark. A PMI index score of above 50 indicates growth, a rate below the crucial 50 figure means that output is in decline. The uncertainty of the of the EU Referendum has been blamed for the nosedive in the UK’s construction sector to its lowest level since June 2009. The dramatic fall in PMI is reported to be due to the decline in residential building amid the fall in activity in the commercial sector conceding its weakest performance six and a half years. Lower levels of activity have also seen a reduction in new work which has now fallen for the second month in a row having seen its highest low in December 2012. Economists’ expectations were that the index would drop to 50.5 in June. Tim Moore, senior economist at Markit, said: “Construction firms are at the sharp end of domestic economic uncertainty and jolts to investor sentiment, so trading conditions were always going to be challenging in the run-up to the EU referendum. However, the extent and speed of the downturn in the face of political and economic uncertainty is a clear warning flag for the wider post-Brexit economic outlook. “The vast majority of June’s survey responses were received ahead of the EU referendum, so the worry is that the ensuing political turmoil will hit construction spending decisions for some time to come.” As the FTSE 100 has started to make a recovery following the outcome of the vote, shares in construction giants such as Taylor Wimpey remain low at -29% with company shares in Barret Developments and Persimmon’s both dropping almost 30% The release of the report had an immediate impact as construction companies, house builders led the FTSE 100 down as Taylor Wimpey dropped 4% with British Land, Barret Developments, Persimmon and Berkeley Group all falling more than 3%. 04/07/2016

  In this video we take a look at how different sectors have performed since the UK voted to leave the E.U.  

John Wood PLC (LON:WG) today announced in its trading update for the six months to June 2016 that it expects earnings to remain 20% lower in 2016 compared to 2015. The company said: “We expect financial performance in the first half of 2016 to demonstrate the benefits of: our asset light, predominantly reimbursable business model; our attention to management of utilisation; and significant overhead cost savings from reorganisation, delayering and back office rationalisation. Overall the outlook for the full year has not changed and there is no change to earnings before interest, tax and amortisation guidance of around 20% down on 2015 as given in May,” Wood said that the current environment remains challenging for both volume and pricing but remains firm on its leading positions in brownfield operations having renewed contracts with Chevron, Enquest, Nexen, Shell, Talisman, Taqaand co. Furthermore the company said it continues to see areas of future growth in its engineering sector despite saying its ability to forecast future projects remained difficult due to the lack of large-capax projects coming into the market. Wood stated that plans to increase its dividend per share by a double-digit percentage for 2016 remain in place. Following its trading announcement, Shares in Wood Group dropped 19p (2.8%) to 651.5p at EMT 30/06/2016