Strong results from Micro Focus, and a rally among mining stocks, drove Britain FTSE 100 higher on while Crest Nicholson and mid-cap pub companies suffered sharp losses.
Elliott Capital Advisors L.P on Monday disclosed a 5.1 percent stake in British software firm Micro Focus International Plc (MCRO.L).
A plunge in software firm Sage’s (SGE.L) shares put pressure on Britain’s top share index, while a rising pound weighed on big overseas earners.
A plunge in Micro Focus’ share price on a gloomy revenue outlook sent the UK’s stocks down to a 2-week low, with weakness in commodities-related sectors adding pressure.
Micro Focus plummeted 40 percent to a three-year low after it cut its annual revenue forecast and its CEO quit.
A raft of well-received updates and a recovery in resources stocks helped European shares rebound early on Tuesday from the previous session's slight losses.
Mulls 1:1 Bonus Share Issue
CITY UNION BANK
To Issue 1:10 Bonus Shares; Record Date At July 11
Approved Bonus Issue Of 1:2; Record Date At June 27
Arm Buys Under-Construction Asset For Rs 234 Cr In Indore At Auction
Brownfield Acquisition To Add Approx. 1.1 Mn Sq. Ft. To Co's Retail Portfolio
Co In Pact To Buy 95% Of Climate Tech Pty, Australia
Deal Size Stands At Rs 201-211 Cr In Valuation
JLR Investor Presentation:
Have Exciting Products, Plans In The Pipeline To Generate Sustainable Growth
Aiming For A 4-7% EBIT Margin Over Medium Term, Will Invest 4.5 Bn GBP In FY19-21
Aiming For A 7-9% EBIT Margin Over Long Term
Long Term Investment Pegged At 12-13% Of Revenue
Retail Volume Grew By 1.7% & Revenue Grew By 6% In FY18
Also Launched Jaguar I-Pace As Co's First All Battery Electric Vehicle
To Set Up 5 Lk KL/Annum Plant At Visakhapatnam For Rs 1,785 Cr
To Set Up 6 Lk KL/Annum Plant In Mysore For Rs 2,300 Cr
Co's International Business Did Not Perform Well In FY18
Economy & Inflated Currency Hit Co's Egyptian Operations
To Launch Generic Tadalafil After Filing ANDA With USFDA
Sterile Drug Product Manufacturing Facility In Bengaluru Receives EIR From USFDA
USFDA's Pre-Approval & Inspection Of Facility Done In April & May 2018
EIR Notifies That The Inspection Stands Closed
Co Committed To Global Standards Of Quality & Compliance
Dr Reddy's Loses Patent Case With Eli Lilly Over Alimta
Co Cannot Launch Its Alternative Salt Forms Until The Eli Lilly Patent Expires
The U.S. District Court For The Southern District Of Indiana Ruled In Favour Of Lilly
The Eli Lilly Patent Expires In May 2022