Market Pulse - Europe
The single currency bloc's surplus in its current transactions with the rest of the world was unchanged in September versus a year earlier.
Stocks are paring their initial gains as investors digest news of the reportedly acrimonious end to the Asia-Pacific Economic Cooperation summit at the weekend, with US vice-President, Michael Pence, and China's Xi Jinping staking out conflicting visions for the region.
All eyes over the coming week will be on the headlines around negotiations between London and Brussels to hammer out a 'political declaration' on the UK's future relationship with the European Union, which some hope will be wrapped up by Tuesday and may help the Prime Minister to see off the risk of a leadership challenge.
UK Prime Minister Theresa May moved on Friday to bolster her precarious position after ministerial resignations over Brexit and the continuing threat of a no confidence vote.
Stocks on the Continent finished slightly lower amid jitters that a possible no-confidence vote against the British Prime Minister might crystallise over the weekend with sentiment further dampened by poor quarterly results from US tech giant Nvidia overnight.
London stocks finished the week lower, as did Sterling, as investors hedged their bets ahead of a weekend that might see Tory rebels push for a confidence vote against the Prime Minister.
Analysts at Canaccord Genuity lowered their target price on British oil and gas outfit Premier Oil on Friday, noting the firm's current projections may be "a little optimistic" given the recent oil price weakness.
UK banks have shed two-thirds of their branch network in the past 30 years, instead ploughing millions into the Post Office to serve people’s basic banking needs, a new study from Which? has revealed.
Outgoing European Central Bank President, Mario Draghi, sounded a confident note on the outlook for the euro area economy, describing a recent slowdown as a 'soft patch', but said policymakers needed to be "patient and persistent" in providing monetary stimulus.
RBS has dropped out of the Financial Stability Board's list of global systemically important banks, which should translate into lower funding costs for the lender.
Investors are exercising caution going into the weekend, given the risk that a no-confidence vote against the British Prime Minister might materialise and with sentiment further dampened by poor quarterly results from US tech giant Nvidia overnight.
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.
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.
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.
Credit Suisse upgraded its view on UK stocks on Wednesday, arguing that investors had 'thrown in the towel', leaving shares undervalued in the process.
Some senior Tory Brexiters are reportedly pushing for an immediate 'no-confidence' vote against the Prime Minister.
Stocks on the Continent finished lower across the board on Wednesday after the Italian government stuck to its deficit targets for next year, despite opposition from the European Commission, and following the release of a mixed set of data on China's economy overnight.
The spotlight on Thursday will be on the Cabinet's decision regarding the Prime Minister's proposed Brexit deal, even as investors attempt to calculate the chances that it will pass muster in Parliament.
Stocks on the Continent are trading slightly lower on Wednesday after the Italian government stuck to its deficit targets for next year, despite opposition from the European Commission, and following the release of a mixed set of data on China's economy overnight.