Paragon Banking H1 Profit Climbs, To Buy Back Up To GBP 40 Mln Shares; Sees Strong Momentum In H2

Japan April current account surplus 1.3218 trln yen

TOKYO, June 8 (Reuters) – Japan’s current account surplus stood at 1.3218 trillion yen ($12.10 billion) in April, Ministry of Finance data showed on Tuesday.

That compared with economists’ median forecast for a surplus of 1.50 trillion yen in a Reuters poll.

For the full tables, see the MOF’s website:

here

PHOTOS: Denver Nuggets vs. Phoenix Suns, Game 1, June 7, 2021 – The Denver Post

The Denver Nuggets hosted the Phoenix Suns in Game 1 of their second-round NBA playoffs series on Monday, June 7, 2021 at Phoenix Suns Arena in Phoenix.

India reports 86,498 new COVID-19 infections

Shopkeepers wait to open their stores at a market area after authorities eased lockdown restrictions that were imposed to slow down the spread of the coronavirus disease (COVID-19), in New Delhi, India, June 7, 2021. REUTERS/Adnan Abidi

BENGALURU (Reuters) – India reported on Tuesday a daily rise in new coronavirus infections of 86,498 cases over the past 24 hours, the lowest in 66 days, according to a statement by government.

Man dies after auto-pedestrian crash in Wheat Ridge – The Denver Post

A man has died Monday night after he was struck by a vehicle in Wheat Ridge, according to a tweet from the Wheat Ridge Police Department.

The crash happened by Interstate 76 and Marshall Street. The driver stayed and is cooperating with the investigation, according to police.

The identity of the deceased man has not been revealed yet.

This is a developing story.

Erin Entrada Kelly Draws (Literally) From Her Life in a New Illustrated Middle Grade Series

By Atinuke

MAYBE MAYBE MARISOL RAINEY
By Erin Entrada Kelly

“Maybe Maybe Marisol Rainey,” the first book in a new series by Erin Entrada Kelly, is about friendship, and about fear.

UK House Prices Log Double-Digit Growth In May

UK house prices logged a double-digit growth in May as the shift in homeowners’ preference boosted the property market activity, data published by the Nationwide Building Society showed on Tuesday.

House prices grew 10.9 percent year-on-year in May, faster than the 7.1 percent rise seen in April. This was the biggest increase since August 2014 and was better than the economists’ forecast of 9.2 percent.

On a monthly basis, house price growth eased to 1.8 percent from 2.3 percent in April. Nonetheless, this was the second consecutive rise and faster than the expected rate of 0.8 percent.

Average house prices rose to a record GBP 242,832 in May.

Robert Gardner, Nationwide’s chief economist, said, housing market activity is likely to remain fairly buoyant over the next six months as a result of the stamp duty extension and additional support for the labor market included in the Budget.

With the stock of homes on the market constrained, there is scope for annual house price growth to accelerate further in the coming months, especially given the low base for comparison in early summer last year, Gardner added.

Due to the first lockdown last year, housing transactions declined to a record low in April 2020. However, activity surged toward the end of the last year and into 2021.

Gardner observed that shifting housing preferences is continuing to drive activity, with people reassessing their needs in the wake of the pandemic.

Intermediate Capital Group FY Profit Climbs

Intermediate Capital Group plc (ICP.L) reported that its profit attributable to equity holders of the parent for the year ended 31 March 2021 climbed to 457.1 million pounds or 157.5 pence per share from 108.9 million pounds or 37.5 pence per share in the prior year.

Profit before tax was 509.5 million pounds up from 114.5 million pounds in the previous year.

Total revenue for the year grew to 829.2 million pounds from 413.6 million pounds last year.

The company said its confidence in its ability to execute on the opportunities available to the company is underlined by its upgraded fundraising guidance. It now expects to raise $40 billion in aggregate in the four years to the end of fiscal year 2025, with at least $7 billion raised in every financial year.

The company proposed final dividend of 39.0 pence per share brings the total dividend per share to 56.0 pence for fiscal year 2021, an increase of 10% compared to last year. It continues to make the dividend reinvestment plan available.

Paragon Banking H1 Profit Climbs, To Buy Back Up To GBP 40 Mln Shares; Sees Strong Momentum In H2

Paragon Banking Group PLC (PAG.L) reported Tuesday that its first-half profit before tax climbed 68.8 percent to 96.4 million pounds from last year’s 57.1 million pounds. Earnings per share grew to 28.3 pence from 17.3 pence last year.

Underlying profits increased 44.9 percent to 82.9 million pounds and underlying earnings per share increased 43.2 percent to 25.2 pence.

Total operating income was 154.7 million pounds, up from 149.7 million pounds a year ago. Net interest income grew to 147.5 million pounds from 141.4 million pounds last year.

Further, the company declared an interim dividend for the year of 7.2 pence per share, 50 percent of the 14.4p final dividend declared for 2020.

In addition, the Board has authorised a buyback of up to 40.0 million pounds of shares in the market, initially to be held in treasury.

Nigel Terrington, Chief Executive of Paragon said, “We have delivered record half-year profits and go into the second half of 2021 with strong momentum, healthy new business pipelines and enhanced margins…. We look forward to the second half with strong capital ratios, prudent liquidity and with growing confidence as the UK emerges from the Covid crisis.”