Market Report
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.
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.
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.
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.
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.
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.
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.
Friday broker round-up
Ultra Electronics: Berenberg downgrades to Sell with a target price of 1550p.
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.
UK construction output falls more than expected
UK construction activity is worsening, data from the Office for National Statistics showed on Friday.
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.
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.
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.
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".
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.
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.
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.
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.
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.
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.