Market Pulse
US open: Stocks higher following March PCE reading
Wall Street stocks were in the green early on Friday as market participants digested key inflation data.
Agronomics investee Solar Foods raises EUR 8m
Cellular agriculture investor Agronomics announced on Friday that its portfolio company Solar Foods had raised an additional €8m through Finnish investment organiser Springvest.
US PCE rises to 2.7% in March, ahead of estimates
The US personal consumption expenditure rate rose to 2. 7% in March, according to the Bureau of Economic Analysis, up from 2. 5% in February and higher than the 2. 6% expected by economists, suggesting that inflationary headwinds were still building.
Tekcapital's Innovative Eyewear enters deal with New Look Vision
Intellectual property investor Tekcapital announced on Friday that its investee Innovative Eyewear, the developer of ChatGPT-enabled smart eyewear under various brands, was launching its ‘Lucyd’ smart frames in 10 selected New Look Vision Group stores across Quebec and at New Look’s online store.
Aukett Swanke flags delays to some contracts
Smart buildings, architectural and design services specialist Aukett Swanke said in an update on Friday that, as outlined in its recent financial statements, it maintained a robust pipeline of interest, although a number of projects had been pushed back.
Berenberg hikes target price on Greggs
Analysts at Berenberg raised their target price on bakery chain Greggs from 3,550. 0p to 3,990. 0p on Friday as it noted that customer appeal had broadened as its market share was expanding.
US pre-open: Futures higher ahead of Friday's PCE reading
Wall Street futures were in the green ahead of the bell on Friday as market participants looked ahead to some key inflation data later in the session.
Thruvision FY24 adjusted underlying losses widen
Security technology business Thruvision said on Friday that adjusted underlying losses had widened in FY24 as revenues fell.
Proteome Sciences secures contract win with US biopharmaceutical firm
Contract proteomics service Proteome Sciences has secured a contract win from a US biopharmaceutical company using the company's mass spectrometry services for the analysis of samples for an on-going clinical trial.
Asia report: Most markets rise as Japan maintains interest rates
Stock markets in the Asia-Pacific region closed mostly higher on Friday, with the yen in focus after the Bank of Japan decided to maintain interest rates.
Loungers FY24 underlying earnings seen ahead of market expectations
Bar and restaurant operator Loungers said on Friday that it had seen continued strong like-for-like sales growth in the 53 weeks ended 21 April and now expects full-year underlying earnings to come in ahead of expectations.
Sainsbury's kicks off £200m share buyback programme
Sainsbury’s kicked off its share buyback programme on Friday, having announced it on 7 February, aiming to repurchase up to £200m of shares by the end of the current financial year.
Record reports solid rise in assets under management
Specialist currency and asset manager Record said in a trading update on Friday that in the 2024 financial year, its assets under management equivalent (AUME) jumped 17% to $102. 2bn.
ITM Power inks strategic partnership with Hygen
ITM Power announced a strategic partnership with Hygen on Friday, designating it as the preferred supplier of proton exchange membrane (PEM) electrolysers for hydrogen projects in the UK and across Europe.
Pantheon net asset value expands 0.9pc in March
Pantheon International reported a 0. 9% month-on-month improvement in its unaudited net asset value per share in March on Friday, to 488. 1p, as its total net asset value stood at £2. 3bn.
Darktrace agrees to be bought by Thomas Bravo in $5bn deal
Darktrace announced on Friday that the newly-formed Thomas Bravo entity, Luke Bidco, had agreed to acquire it in an all-cash deal.
Gym Group enlists Savills to help with site selection
Low-cost gym operator the Gym Group announced on Friday that it has enlisted the expertise of Savills to assist in its site selection process, as it embarked on a strategic expansion plan.
Carnival concludes private offering, reprices senior notes
Carnival announced on Friday that it has concluded its private offering of €500m in 5. 75% senior unsecured notes, due 2030.
GCP Infra offloads Blackcraig Wind Farm assets for £31m
GCP Infrastructure Investments announced the successful disposed of its interest in loan notes secured against the Blackcraig Wind Farm in Dumfries and Galloway, Scotland on Friday.
Friday newspaper round-up: Microsoft, mortgage rates, Boeing, Alphabet, Trump
Microsoft beat Wall Street estimates for its third-quarter revenue last night, driven by gains from artificial intelligence adoption across its cloud services and business software products. The company said its revenues had risen to $61. 9 billion, up by 17 per cent and exceeding the $60. 8 billion, or 15 per cent rise, that had been forecast. Its net income was $21. 9 billion, up by 20% from the year before. - The Times.