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Market Report
13 May
meghan-markle-takes-a-break-from-suits-after-prince-harry-confirms-their-relationship
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.

11 May
interserve nuclear
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.

11 May
london stock exchange paternoster
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.

11 May
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.

11 May
Uni Michigan index steady in May, beats expectations

Consumer sentiment in the US was steady in May, according to data released on Friday.

11 May
ITV, broadcasting
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.

11 May
Argentina_bandera630
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.

11 May
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.

11 May
Canaccord upgrades Rathbones after share price weakness

Canaccord Genuity upgraded Rathbone Brothers to ‘buy’ from ‘hold’ on Friday following recent share price weakness.

11 May
randgold gold metal
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.

11 May
nichols
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.

11 May
Wood group, oil, gas
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.

11 May
food sausage roll greggs
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.

11 May
 water treatment tank
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.

11 May
fda drug pharma
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.

11 May
cash money sterling pay deal offer acquisition m&a
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.

11 May
brokers-inversores
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.

11 May
coins currency investment insurance business finance company
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.

11 May
london stock exchange paternoster
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.

11 May
ep logo suzuki
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.