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Market Report
10 Nov
air-france-klm-etudie-la-question-des-frais-de-reservation
Europe midday: Stocks climb back after early losses

Stocks are climbing back from early weakness triggered by disappointment over the outlook for prompt passage of US tax reforms.

10 Nov
housebuilder building construction
FTSE 100 movers: Housebuilders bounce back, but retailers retreat

London’s FTSE 100 was down 0. 5% to 7,444. 16 in afternoon trade on Friday as investors mulled the latest data on manufacturing, industrial production and construction.

10 Nov
London Stock Exchange AIM LSE shares
LSE caves into TCI demands, to hold vote on Brydon and Rolet

London Stock Exchange has caved into pressure from activist investor TCI Fund Management, announcing that it will hold a shareholder vote on whether it should remove chairman Donald Brydon and retain chief executive officer Xavier Rolet.

10 Nov
cbmoney2
IFG Group assets under administration exceed £30bn

Dublin-based financial services company IFG Group continued to perform in line with board expectations through the ten months leading to 31 October, reaching two significant milestones during the period.

10 Nov
crashstock
Alpha Pyrenees Trust dives, says asset sales may not deliver

Guernsey-based investment firm Alpha Pyrenees Trust announced on Friday that it was actively marketing its few remaining properties, with a view to winding up the trust in due course.

10 Nov
New York Stock Exchange, markets, traders, USA, stocks, shares, Wall Street. Photo: Pete Bellis
US pre-open: Stocks seen lower amid worries over tax cut delay

US futures pointed to a weaker open on Wall Street on Friday amid concerns that a possible delay in corporate tax cuts until 2019 could put an end to the recent rally in equity markets.

10 Nov
melrose, bridon, industrial, factory, manufacturing
Castings profits slip despite improved sales performance in first half

British iron casting and machining firm Castings saw its pre-tax profits decline in the six months leading to 30 September despite rising sales over the period.

10 Nov
ultra electronics sonobuoys
Friday broker round-up

Ultra Electronics: Berenberg downgrades to Sell with a target price of 1550p.

10 Nov
Oil rig in Algeria, oil & gas, energy
Gulfsands Petroleum abandons Moulay Bouchta Petroleum Agreement

Oil and gas company Gulfsands Petroleum said it will no longer pursue the Moulay Bouchta Petroleum Agreement in Morocco and begin winding down the activities of the group in the country, enabling the company to focus its management and capital resources in the Levant region instead.

10 Nov
UK construction output falls more than expected

UK construction activity is worsening, data from the Office for National Statistics showed on Friday.

10 Nov
London Stock Exchange AIM LSE shares
London midday: Stocks slip into the red as investors mull slew of data

London stocks had reversed small gains to trade lower by midday on Friday as investors mulled over the latest data on manufacturing, industrial production and construction.

10 Nov
camden high street retail shopping
Retailers hit by worst high street sales in a decade - BDO

UK retailers had their worst October for high street sales in a decade, with an unusually warm autumn blamed for putting the mockers on sales of coats and other seasonal wear.

10 Nov
handshake
Johan Lundgren to replace McCall as EasyJet CEO

Budget airline EasyJet has announced the appointment of Johan Lundgren as its new chief executive officer, replacing Carolyn McCall, whose departure was announced back in July.

10 Nov
pennon viridor recycling waste industrial
React Group very disappointed with full year results

Cleaning and decontamination specialist firm React Group posted what it called "very disappointing" results from its full year's trading, noting however that trading in its second half had shown "signs of improvement".

10 Nov
a-businessman-waits-to-cross-a-street-in-tokyo
Asia report: Most markets follow Wall Street lower

Most markets in Asia finished in the red on Friday, taking their lead from Wall Street overnight, which closed lower on the back of tax reform plans from Senate Republicans.

10 Nov
Google by Dudley Carr (Flickr)
Google accused of aiding online fraudsters through 'copycat' websites

Officials at National Trading Standards have come out swinging against internet giant Google, accusing it of profiting from crime by allowing fraudsters to buy sponsored spaces in its search results.

10 Nov
ricardo engine manufacturing
UK manufacturing output continues to improve, trade deficit narrows

UK industrial production is increasing more than expected and the trade deficit is narrowing, a deluge of official figures showed on Friday, with manufacturing activity continues to grow but the construction sector entered a technical recession.

10 Nov
heathrow airport baggage ultra electronics
Berenberg downgrades Ultra Electronics to 'sell'

Berenberg downgraded Ultra Electronics to ‘sell’ from ‘hold’ and cut the price target to 1,550p from 2,250p.

10 Nov
vedanta
Revenue and earnings ahead in first half at Vedanta

Vedanta Resources revenue rose 49% year-on-year to $6. 8bn, it announced on Friday, with EBITDA ahead 37% at $1. 7bn, which the board said was primarily due to higher volumes and strong commodity prices.

10 Nov
FCA
Capita to compensate investors in collapsed fund, escapes FCA fine

Capita has escaped a fine but has been strong-armed by the financial regulator into paying up to £66m to investors who suffered losses due the collapse of an investment scheme operated by its recently sold asset services business.