US stocks closed higher on Thursday, reversing losses seen in the previous session, as the dollar surged against the pound and investors continued to eye the headlines around trade talks between the US and China.
Wall Street trading began with losses on Thursday, following on from those seen during the previous session, as the dollar surged against the pound and investors continued to eye headlines around trade talks between the US and China.
UK Prime Minister Theresa May vowed to push through her Brexit after a day of turmoil that saw two Cabinet ministers quit and MPs openly talking of a no-confidence vote.
Liberum analysts issued a damning report on shares of Royal Mail, reiterated their ‘sell’ rating on Thursday, stating that dividend growth was "unsustainable" and that the firm faces "significant" structural challenges with scant visibility on how things can be turned around, even if the sharp falls in profits across the board were “unsurprising” given an October profit warning.
The focus at the weekend will continue to be on the withdrawal process, with investors focusing on the risk of further Cabinet resignations even as they keep a tally of how many MPs support, or do not, a no-confidence vote against the Prime Minister.
Stocks across the Continent finished near their worst levels of the session as investors digested the ongoing political convulsions in London, even as they kept a wary eye on the Italian government's antics with Brussels over its 2019 budget.
Tobacco stocks tumbled on Wall Street after US regulators announced new restrictions on flavoured electronic cigarettes.
London stocks gave up its earlier gains to finish flat on Thursday as the pound tumbled in the wake of Brexit Secretary Dominic Raab's resignation, with banks and housebuilders also hit by concerns about the EU divorce process.
Connect Group chief executive Jos Opdeweegh purchased 535,935 ordinary shares in the London-listed distribution and logistics provider on Thursday.
Credit Suisse lowered its estimates on G4S following its third-quarter trading statement, but the Swiss bank said the private security outfit's investment case was still "sufficiently attractive" for it to reiterate its 'outperform' rating on the group.
Analysts at Deutsche Bank slashed their target price on shares of British American Tobacco after reviewing the potential actions that the US Food and Drug Administration might take on menthol cigarettes and litigation risks in Canada.
Banks, housebuilders and utility companies were under the cosh on Thursday as may UK-facing stocks suffered, while miners gleamed.
Standard&Poor's reiterated its rating on the UK's long-term sovereign debt, despite the risk that the withdrawal agreement that had been reached overnight between Brussels and London might not make it through Parliament, forcing both sides to return to the bargaining table.
Walmart turned in a stronger-than-expected set of sales figures ahead of the all-important holiday season, leading the retailer to boost its full-year outlook and put rival Amazon on notice.
London's FTSE 250 was down 1. 67% at 18,594. 41 in afternoon trade on Thursday, as housebuilders fell amid Brexit chaos in Theresa May's cabinet.
Cryptocurrencies were adding to their Wednesday plunge with the best-known of them, Bitcoin, down 12. 61% to $5,428.
Capita shares tumbled a day after it emerged that the company had failed to deliver thousands of cervical cancer screening letters to patients as part of a contract with NHS England.
AIM-listed Bellzone Mining said on Thursday that it could go bust if it's not able to secure fresh funding soon.
Brewer and landlord Young & Co saw revenues and profits move ahead in the first half of its trading year thanks to the combination of a well-invested, premium estate and the hottest English summer on record.
US jobless claims edged only slightly higher last week, but some economists believed there were signs in the data that, at least for now, momentum in the jobs market might be topping out.