RELX leaves full year guidance unchanged after ditching dual Anglo-Dutch structure
The firm abandoned its dual Anglo-Dutch structure for a single parent holding company in September in a bid to simplify its corporate structure
Company
LON:REL
RELX Group is a global provider of information and analytics for professional and business customers across industries. We help scientists make new discoveries, lawyers win cases, doctors save lives and insurance companies offer customers lower prices. We save taxpayers and consumers money by preventing fraud and help executives forge commercial relationships with their clients. In short, we enable our customers to make better decisions, get better results and be more productive.
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The firm abandoned its dual Anglo-Dutch structure for a single parent holding company in September in a bid to simplify its corporate structure
At the close, the UK blue chip index was 41.12 points higher at 7,004.10, the session peak, and well above the early low of 6,995.99
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The day ahead includes third quarter trading updates from Lloyds and WPP along with full year results from Debenhams and the ECB's policy decision.
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Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
After the recent underperformance and a 2.5% upgrade to its earnings per share (EPS) forecasts, Barclay’s analysts said they now saw “good value” at a 16.7x P/E ratio
Analysts had thought that a stand-off between RELX and universities in Germany and Sweden could hit revenues, but that proved not to be the case in the publisher’s half-year results
The Nasdaq on Wall Street is down over 88 points at the time of writing, at 7,420.
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Three of the 10 largest London-listed companies (by capitalisation) are updating the market on Thursday. A dozen or more other household names are also expected to report.
The information publishing sector is in rude health, according to Deutsche Bank
Following a 17% share price appreciation in the last three months, in part driven by a weaker pound, the Swiss bank has left its target price for RELX unchanged at 1,555p
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Imports in the period fell 2.1%, while exports increased 2.4%
Takeda on Wednesday increased its offer for Shire up to £46bn or £49 per share.
"We have continued to focus on the organic development of increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to our customers," the company said at its AGM
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FTSE 100 gained support from higher metals prices and a slide in sterling on Wednesday to close higher
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Updates are expected from Bunzl, Countryside Properties and Jupiter Fund Management, among others
RELX NV shareholders will receive one RELX PLC share in exchange for each RELX NV share held. The group's shares will be listed in London, Amsterdam and New York
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The UK's blue-chip index closes up 20.84 points to 7,234.81
Investments and investor services
RELX is expected to see revenue and profit growth, whereas ConvaTec will report on what's seen as a disappointing year.
Investec's analysts said they see a “nice buying opportunity" ahead of the full-year numbers, due on February 15
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Week ahead includes the latest UK and US consumer price indexes, plus corporate updates from RELX PLC, Coca Cola HBC PLC, Shire PLC and ConvaTec PLC