The pound continues to climb higher this week as investors price in potential stability the new prime minister Rishi Sunak could bring. However, London stocks opened slightly lower on Wednesday, with the FTSE 100 down 0.01%.

Barclays

• Barclays reported its Q3 results on Wednesday.
• The bank posted a group income of £6.4 billion, up 17% year-on-year.
• Expenses reached £4.1 billion and attributable profit was £1.5 billion, compared to £1.4 billion in the prior-year quarter.
• Costs are expected to be in line with prior outlook as the group remains well-positioned for the current economic environment.

Made.com

• Made.com have considered its next steps following the announcement on 25th October.
• The board has taken the decision to temporarily suspend new customer orders.
• The board of Made will continue to preserve value for its creditors and shareholders in light of this decision.
• Made shares surged 35% on Wednesday morning.

Reckitt Benckiser

• Reckitt has announced third-quarter results, with the company stating they are on track to deliver full-year targets.
• Group like-for-like revenue growth came in at 7.4%, with revenue of £3.74 billion.
• The company narrowed its LFL net revenue growth target to +6% and +8%.
• Reckitt shares fell 3.55% following its earnings.

Solid State

• Solid State’s trading update saw revenues for the period of approximately £59 million, compared to £39 in 2021.
• Meanwhile, adjusted profit before tax of about £5 million reflects a 54% year-on-year increase for the firm.
• The company stated that organic growth combined with just under two months of contribution from Custom Power has delivered an exceptionally strong start to the year.
• Solid State shares grew 7.44%.