By Samuel Indyk
UK GDP increased 0.1% MoM in July, the weakest growth rate since January. Expectations were for the economy to have grown 0.6%. Industrial production grew 1.2% versus expectations of 0.4%. Manufacturing production was unchanged versus 0.1% increase expected. Construction output declined 1.6% versus expectations of an increase of 0.5%. The UK trade deficit was larger than expected at £12.71 billion.
Cineworld (LON:CINE) – Reached an agreement with dissenting shareholders of Regal Entertainment Group with respect to the payment of judgment of their claim. Under this agreement, the Company will now pay $170 million of the Judgment to the dissenting shareholders and $92 million will be placed into an escrow account to be available to Cineworld as additional liquidity under certain circumstance.
Royal Dutch Shell (LON:RDSa) – Declared a force majeure on numerous contracts that they anticipate will be impacted by the damage from Hurricane Ida as production struggles to come back online.
PureTech Health (LON:PRTC) – The company’s Vor Biopharma unit announces VOR33 has been granted US FDA Fast Track Designation for Acute Myeloid Leukaemia.
Spectris (LON:SXS) – Completing the final tranche of its share buyback programme for a maximum consideration of up to £200 million, announced at its full year results in February.
Gresham House (LON:GHE) – Intends to purchase the Venture Capital Trust business of Mobeus Equity Partners for initial consideration of £24.0 million, with further consideration up to £12.1 million. Intends to raise proceeds of £40 million through a placing to fund the acquisition and AUM growth development projects.
Purplebricks (LON:PURP) – Upgraded to Neutral from Sell at UBS.
UK market update – GDP growth slows in July, Cineworld reaches Regal agreement
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.