Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. PPHE launches strategic review and formal sale process
Following statements last week, hotelier PPHE [LON:PPHE] has today announced that it is now launching a strategic review and formal sale process. The stock has already made good gains off the back of recent updates, but this news could see the company ultimately being taken private.
- UK Stock Market News: Standard Chartered, PPHE, Computacenter
- UK Stock Market News: PPHE, Softcat, Hunting
2. ITM Power lands two load-balancing facilities in Germany
Hydrogen power specialists ITM LON:ITM have advised the market that they have been selected to provide electrolysers for two projects in Germany with a total capacity of 710MW. These are to provide grid balancing facilities, with management noting that the deal positions ITM at the forefront of energy transition in Europe. The client, Stablegrid, added the company had technical expertise to implement system-stabilising hydrogen projects of this magnitude reliably.
- UK Stock Market News: Aston Martin, ITM Power, HSS
- UK Stock Market News: Bunzl, Wood Group, ITM Power
3. More revenue and margin growth from Babcock, dividend up 25%
Defence and nuclear contractor Babcock LON:BAB issued interims this morning with revenues up 7%, margins improved to 7.9% and shareholders benefitting from a 25% increase in the half year dividend. The full year outlook remains unchanged with further incremental margin improvement and revenue growth both expected.
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