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“Equities edged higher in early trading following falls on Wall Street overnight and gains in Asia with traders looking to UK employment-related data out mid-morning,” says AJ Bell Investment Director Russ Mould.
“Insurance group Admiral has hoisted its interim dividend by 23% after a record first half. New chief executive David Stevens, who took the helm in May, has come on board at a time of enduring and increasing strength in the group’s UK business and a step change upwards in growth from its developing international operations. All the price comparison businesses, including Confused.com, also grew rapidly. The group’s solvency ratio has been affected by market volatility following the Brexit vote although the ratio remains strong.
“Balfour Beatty’s shares jumped in early trading following an increase in its first half order book and reinstate the dividend as planned. Eighteen months into the first phase of its ‘Build to Last’ transformation programme, the group has delivered its second successive half of underlying profitability. The group has seen measurable improvements since the programme was introduced and is on track to hit initial targets by the end of this year which will lay the foundations for future growth. Balfour Beatty’s shares were up by more than 7.4%.
“Car dealer Lookers has increased its interim dividend by 20%. The group has agreed the sale of parts division and invest the proceeds in acquiring more dealerships. It has already announced the acquisition of Drayton Motor Group, which it believes will be of strong financial and cultural benefit to the group.”
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