Equities have continued their rebound as trading remains volatile. Click here for The Trader Nicole Elliott's latest thoughts on the markets.
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The engines are purring slightly more than they’re stuttering over at bus and rail company Stagecoach (SGC). The company has sold off the retail element of its megabus Europe business to FlixMobility, meaning it will no longer be in charge of things such as timetabling and marketing. It will, however, run some services on a contract basis but how many in the long term is unclear. Investment in the division had meant it was unprofitable to management probably won’t be shedding any tears. Elsewhere, its East Coast rail franchise win helps the rail division look rosy while operating profits and margins fell in its UK regional, London and North America bus business. The shares are up 2 per cent though. Sell.