Proactive Investors - The FTSE 100 has opened higher, as it has all week, but the question is if it can keep up the positivity.
In the opening trades, the index rose around 30 points to 8152 but is already retreating from that level.
It was similar for the FTSE 250 which jumped 100 points to 20,020 but has now fallen flat.
A major boost for the blue-chips is Standard Chartered PLC (LON:STAN), up over 6% after first-quarter profit delivered a significant beat to consensus expectations, primarily driven by better-than-expected non-interest income growth.
"While this included the benefit of some notable items relating to the revaluation of the Egyptian pound and Ghana hyperinflation, it was still comfortably ahead of expectations," said analysts at Shore Capital.
Shell PLC (LON:SHEL) is up 0.6% after its earnings also came in higher than City estimates and it loaded up another $3.5 billion share buyback.
"Shell has beaten expectations by a reasonable margin, despite the impact of lower gas prices during the first quarter. Earnings are up, costs have fallen, and the oil and gas major has brought debt down too – all in all, it’s a solid set of numbers," said Stuart Lamont, investment manager at RBC Brewin Dolphin.
Smurfit Kappa Group plc (LON:SKG) is up almost 4% after its earnings rose and it reported continued improvements in box demand in Europe and the Americas.
Flutter Entertainment PLC (LON:FLTRF) is up over 1% after shareholders yesterday voted overwhelmingly in support of a move of its main listing from London to New York.
Elsewhere, Melrose Industries (LON:MRON) is down 1.7% after reporting a strong start, as anticipated, with expectations for the year unchanged.
Novo Nordisk ramping up production of weightloss drug
Another massive company announcing results today is Europe's biggest, Novo Nordisk (CSE:NOVOb), the maker of diabtes/weightloss drugs Wegovy/Ozempic, with the Danish giant saying it is ramping up production after patient numbers quadrupled in the US.
First-quarter sales of 65.35 billion Danish krone beat forecasts of DKK 63.75 billion, including almost DKK 35 billion from the drug, with earnings of DKK 31.85 billion also came in higher than DKK 29 billion expectations.
Full year sales are seen rising 19-27% at constant exchange rates, which might disappoint with the current market forecast just under 26%.
Takeover talks for Revolution Bars
Revolution Bars Group PLC (LON:RBG) is in talks about being taken over by rival hospitality firm Nightcap PLC (LON:NGHT).
A range of possible transactions, including an all-share offer, have been discussed, Revolution has said in a statement this morning.
This is not part of Revolution’s formal sales process, unveiled in early April, the struggling bar operator added, with Nightcap having until May 30 to table an offer.