Market Pulse
Sector movers: Utility and home construction stocks pace gains
Broker commentary was the main driver behind the jump observed at the end of the week in utility and home construction stocks.
Saudi Aramco IPO looks more likely as change in legal status paves the way for flotation
Saudi Aramco, the Dhahran-based petroleum and natural gas company which had recently been forced to deny plans that it was abandoning its $2tn flotation of 5% of the company, received a shot in the arm on Friday after a royal decree converted the firm into a joint stock company, allowing it to expand its shareholder base beyond the Saudi Arabian government.
London close: Footsie continues record run despite soft US jobs data
London stocks extended their recent record run on Friday, with the top-flight index hitting fresh highs as investors brushed off a slightly weaker than expected reading on US non-farm payrolls for December.
US tax cuts may unleash a lot of investment, Fed's Bullard says
A top US central banker and one of the foremost 'doves' in policy-making circles in the States said the recently enacted tax cuts should not force the monetary authority to tighten policy more quickly.
Cabot Energy reports higher than expected production rates from 10-32 sidetrack well
AIM-quoted oil and gas company Cabot Energy provided an update on drilling and flow tests at its 10-32 sidetrack well in the Rainbow area in Canada on Friday after that start of its drill programme in December, which ran longer than expected.
Director deals: United Utilities chief cashes in shares
Steve Mogford, chief executive of FTSE 100-listed water company United Utilities, sold 217,500 ordinary shares in the firm at a price of 800. 72p each on Friday.
Boardriders acquires Billabong in $155m takeover bid
Iconic Australian surfwear brand Billabong was sold to rival Boardriders on Friday as part of an estimated $155m takeover bid aimed at turning around the Queensland-based group after turning a profit in just one of the last five years.
Rhythm One tenders off for outstanding YuMe shares
Online advertising firm RhythmOne presented an exchange offer to YuMe shareholders on Thursday to purchase the outstanding shares of the digital video brand, pursuant to the companies' previously announced merger agreement.
Christmas high street sales fall for fifth year in a row - BDO
High street sales in December were lower than the previous year, with clothing and footwear suffering the most.
Fed will only need to hike rates twice in 2018, Philly Fed's Harker says
The US central bank will only need to hike rates twice in 2018 and the risk of persistently soft inflation needs to be closely monitored, a top US central bank official said.
ISM services index drops to 55.9 in December
Activity in the US services sector unexpectedly slowed in December, according to data released on Friday.
Trump book 'Fire and Fury' released despite White House legal threats
Donald Trump’s lawyers tried to shut down the release of the book that has already exposed delicate issues regarding the President and his administration, leading the publisher to release the book a week early.
Centrica and United Utilities oversold on regulatory fears - Credit Suisse
UK utility stocks' discount to European peers is overblown, Credit Suisse said, as markets are being too cautious on the likely effect of government price caps.
Jefferies upgrades Anglo American as it highlights strong fundamentals
Jefferies upgraded Anglo American to 'buy' from 'hold' and lifted the price target to 2,000p from 1,500p, pointing to strong mining sector fundamentals.
US jobs fall short of forecasts in December, economists still see 4 Fed hikes
US job growth fell short of forecasts at the end of 2017, contrary to the findings of a widely-followed survey of hiring conditions published the day before.
US November foreign trade deficit makes for grim reading, economists say
America's shortfall in trade with the rest of the world widened in November as the climb in world oil prices increased the country's energy bill.
Admiral, Hastings downgraded by Cazenove on motor insurance outlook
Life insurers are not as overpriced as many investors believe, said JP Morgan Cazenove in a note on Friday, but an expected shifting pricing backdrop in 2018 saw it upgrade Lancashire but downgrading Admiral and Hastings.
Citi tells clients to overweight emerging market and European stocks
Citi predicts another positive year for stocks around the world on the back of rising corporate earnings.
Car sales post first decline in five years as policy changes make Britons wary of diesel-powered vehicles
According to data collated by the Society of Motor Manufacturers and Traders (SMMT), 2017 marked the first decline in UK car sales in five years, with the trade association putting the blame on Westminster for creating uncertainty over the future of diesel-powered vehicles in Britain.