Share in Aston Martin Lagonda Global Holdings PLC (LSE:AML) fell 5% after it raised £210 million in debt and equity, giving it an estimated £500 million of liquidity to enact its turnaround strategy.
Unsurprisingly, there is a degree of caution around stock in the luxury car maker, which has issued two profit warnings in as many months.
City analysts roundly agreed that budget airline easyJet plc’s yearly revenues came in slightly below expectations, but this was sufficiently offset by superior profit metrics.
The FTSE 100-listed carrier’s pre-tax profit soared 34% to £610 million over the year to September on the back of a 14% increase in revenue to £9.31 billion.
Jefferies has downgraded Boohoo Group PLC (AIM:BOO) to 'hold' from 'buy' and slashed its price target from 70p to 30p, citing persistent challenges in sales and profitability across its core brands.
The company’s outlook remains bleak despite efforts to streamline operations and focus on its Debenhams business.
Pets at Home Group PLC's (LSE:PETS) first-half profit before tax exceeded Peel Hunt’s forecasts today, although the broker acknowledged that a full-year profit downgrade will offset the perceived positives.
“The shares are not on a big valuation, in our view, but have not had any positive forecast for a while and this is highly unlikely to help,” said analysts.
Shares in Faron Pharmaceuticals Limited (AIM:FARN) climbed 6% after the company reported "remarkable" trial data for its lead drug, bexmarilimab, being tested for myelodysplastic syndrome (MDS), a rare and aggressive blood cancer.
In the ongoing Phase II BEXMAB study, 80% of patients responded positively to a combination of bexmarilimab and azacitidine, a significant improvement over the typical 0-20% response rate seen with existing treatments.
Mitchells & Butlers PLC (LSE:MAB) has the muscle to face post-budget challenges head-on, going by broker Panmure Liberum’s analysis of the pub chain’s final results.
M&B joined a string of hospitality firms in warning over surging costs resulting from Labour chancellor Rachel Reeves’ debut budget.