Sep 10, 2021

UK growth slows sharply

Output rose 0.1 per cent in July compared with the previous month, the Office for National Statistics said on Friday, which is slower than the 1 per cent expansion in June and lower than the 0.6 per cent expansion forecast by economists polled by Reuters. For the three weeks to early September revenue was 29 per cent higher than the equivalent pre-pandemic period, compared with an 8 per cent average increase for the eight weeks to mid August, the company reported. A placing price of 910p per share was at a 2.2 per cent discount to Thursday's closing value. Separately, Gresham House reported a half-year net profit of £5.2m and assets under management of £4.7bn, up 19 per cent since the start of the year. Oxford Nanopore on Thursday unveiled plans for an initial public listing on the London Stock Exchange that analysts said could value it at about £4bn. The genomics company's DNA sequencing devices have become essential in identifying and tracking the spread of Covid-19 variants around the world, and it said its revenues had risen 22 per cent to £59m in the six months to June, compared to the same period last year.

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