GSK cuts full year earnings target and sets out new 2020 priorities
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GlaxoSmithKline cut its full year guidance for earnings per share to 3-5% at constant exchange rates from the previous 5-7% after sales growth slowed in the second quarter, while a new strategic rejig will see a flat dividend next year.

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London midday: Stocks hold gains as GDP meets expectations
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London stocks were maintaining gains by midday as investors waded through a deluge of earnings and digested the latest reading on the UK economy, which met expectations.

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Joules profits jump in first full year since floating on AIM

Profits at retailer Joules jumped in its first full year since floating on AIM as revenue rose thanks to strong international and online growth.

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Europe midday: Stocks extend gains as investors mull earnings; Fed eyed
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European stocks had extended gains by midday as investors sifted through more earnings and eyed the latest policy announcement from the Federal Reserve.

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Mobile Streams celebrates subscriber numbers while revenue plummets
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Emerging markets-focussed mobile media company Mobile Streams reported a quadrupling of active subscribers in its primary Indian market during its financial year on Wednesday, with more than 200,000 members as at 30 June.

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Harworth makes progress at AMP and Waverley

Brownfield regeneration and property investment specialist Harworth Group signed a conditional 20-year lease with McLaren Automotive on a new 75,000 square foot bespoke unit at the Advanced Manufacturing Park, it announced on Wednesday.

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Wednesday broker round-up
acacia mining

Acacia Mining: Credit Suisse downgrades to Neutral with a target price of 200p.

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UK economic growth remains lacklustre in second quarter
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UK economic growth remained tepid in the second quarter, according to the Office for National Statistics, though the initial estimate for gross domestic product was in line with economists' forecasts.

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Jupiter reports 16% rise in assets on strong net inflows
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Asset manager Jupiter Fund Management saw a 16% increase in its assets under management in the first half of 2017, the firm reported on Wednesday.

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US pre-open: Stocks seen flat ahead of more earnings, Fed
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US futures pointed to a muted open on Wall Street on Wednesday as investors awaited more earnings and a rate announcement from the Federal Reserve.

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GKN H1 profits and revenue up but margins drop, aerospace unimpressive
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Engineer GKN reported a jump in first-half profits on Wednesday as it said it has closed its UK defined pension scheme, but margins were down across the board and the performance of the aerospace division failed to impress.

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Asia report: Markets mixed as dollar stagnates

Markets in Asia were mixed on Wednesday, with traders focussing on a higher oil price as well as a stagnant dollar, ahead of the Federal Open Market Committee’s two-day policy meeting finishing.

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UK mortgage approvals tick lower in June
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UK mortgage approvals fell in June, albeit less than expected, according to data released by UK Finance.

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Metro Bank swings to profit as customer accounts pass one million
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Challenger bank Metro reported its results for the first half of 2017 after the close on Tuesday, swinging to a profit for the first time since its stock market debut in March of last year.

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Brewin Dolphin posts record third-quarter income
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FTSE 250 wealth manager Brewin Dolphin reported record income for the third quarter on Wednesday as total funds rose 3. 7%.

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Paragon trading 'strong' after solid third quarter
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Specialist lender and banking group Paragon reported “strong” new business for the financial year-to-date on Wednesday, with a further £575. 7m in new lending completed in the third quarter, taking aggregate advances to £1. 44bn for the nine months since 1 October.

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HICL consortium wins bid for Liverpool's Burbo Bank windfarm
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HICL Infrastructure Company is part of a consortium that has won the tender from electricity regulator Ofgem to own and operate the offshore transmission link to the Burbo Bank Extension windfarm in Liverpool Bay.

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Unite Group lifts dividend as earnings slide
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Student accommodation manager and developer Unite Group reported a “strong” financial performance in its first half, with EPRA earnings up 12% to £40. 4m, or 18p per share.

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Sage Group unveils cloud acquisition, but growth slows in third quarter
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Sage Group reported slowing third quarter trading and guidance for the full year, as it put out a pair of announcements after hours on Tuesday that also included its largest ever acquisition.

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Europe open: Stocks in the black as earnings roll in; Fed announcement eyed
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European stocks edged up in early trade on Wednesday as investors sifted through more earnings and eyed the latest policy announcement from the Federal Reserve.

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