Market Report
Royal wedding to boost retail and tourism sectors, economists say
The royal wedding between Prince Harry and Meghan Markle could provide a noticeable fillip for the UK economy as it stumbles out of a gloomy first quarter, a major economic forecasting group has suggested.
FCA investigates Interserve over insider information
The City watchdog's enforcement division has launched an investigation into Interserve's handling of inside information and its disclosures to the market over its troublesome exit from the energy-from-waste business.
London close: Stocks carried higher by upbeat Wall Street mood
London stocks made a late surge on Friday as the pound could not regained ground and Wall Street looked to finish the week on the front foot.
FTSE 250 movers: ZPG zooms higher, Renishaw profits taken
The FTSE 250 index was marched higher by gains for ZPG and Wood Group on Friday, with profit taking hitting Renishaw.
Uni Michigan index steady in May, beats expectations
Consumer sentiment in the US was steady in May, according to data released on Friday.
FTSE 100 movers: ITV rallies but water utilities slump amid broker note bonanza
London’s FTSE 100 was up 0. 1% to 7,710. 76 in afternoon trade on Friday, with more broker notes than you can shake a stick at responsible for all the biggest moves.
Echo Energy confirms no exposure to Argentine interest rate rise
Latin America-focussed upstream oil and gas company Echo Energy issued an update noting the current economic situation in Argentina, specifically the domestic interest rate that was recently increased to 40%, on Friday.
Clear Leisure confirms more details around share purchase breach claim
Clear Leisure updated the market on its legal claim over a breach of a share purchase agreement on Friday, following its announcement on 2 May that it had issued a claim in the High Court in London, arising from a breach of a share purchase agreement.
Canaccord upgrades Rathbones after share price weakness
Canaccord Genuity upgraded Rathbone Brothers to ‘buy’ from ‘hold’ on Friday following recent share price weakness.
Randgold is a 'great buying opportunity', says Citi
Mining giant Randgold Resources' shares offered "a great buying opportunity" after falling on the back of its first-quarter results, Citigroup said as the miner was a quality stock with an attractive valuation.
Berenberg cuts target price on Nichols following Middle East woes
Despite beverage maker Nichols continuing to make good progress in new markets, Berenberg was still concerned that blows to its Middle East operations as a result of the ongoing conflict would hurt profit growth across the firm as a whole.
John Wood Group sees trading pick up in first quarter
Energy services company John Wood Group saw trading momentum pick up across its business throughout the first quarter of its trading year, leading the group to confirm its 2018 outlook.
Berenberg downgrades Greggs on weaker LFL growth
Greggs’ weaker like-for-like growth at the start of 2018 and management’s cautious outlook suggest near-term performance could be more subdued, Berenberg said as it cut the stock to ‘hold’ from ‘buy’ and reduced the price target to 1,225p from 1,425p, adding that this could cause a delay in the special dividend.
Take profits in Severn Trent, says Bernstein, or don't says Cazenove
There were differing opinions among analyst over UK utilities on Friday, with water company Severn Trent in particular downgraded by Bernstein and recommended by JPMorgan Cazenove.
Faron Pharma trial returns unexpected results
Clinical stage biopharmaceutical company Faron Pharmaceuticals has seen a less than ideal response to its recent Phase III Interest trial of its acute respiratory distress syndrome treatment, with early analysis suggesting the product had not performed as expected.
ZPG agrees £2.2bn takeover by US private equity firm Silver Lake
Zoopla and PrimeLocation owner ZPG has agreed to be bought by US private equity firm Silver Lake Management for 490p per share in cash, or £2. 2bn.
Market buzz: Severn Trent down and ITV up as analysts opine
1226: The FTSE 100 is being held down by a stronger pound, down very slightly just past midday. Mike van Dulken, head of research at Accendo Markets, notes that the pound is helping miners while healthcare is under pressure ahead of a President Trump speech on the matter.
Charles Taylor acquires Argentinean insurance tech group
Professional services provider Charles Taylor has completed its acquisition of insurance-focused technology consultancy Inworx following the successful placing of 6. 77m new ordinary shares.
London midday: Stocks tick lower as pound gains; ZPG rises on takeover deal
London stocks had ticked just a touch lower by midday on Friday as the pound regained some ground a day after being hit by a dovish Bank of England, although ZPG bucked the trend after the Zoopla owner agreed to be bought by US private equity firm Silver Lake.
Asia report: Most markets higher as oil prices slip
Most markets in Asia were higher on Friday, with traders in the region taking their cues from a solid session on Wall Street overnight, as oil prices gave up some of their gains seen earlier in the week.