Stocks on Wall Street finished in the green on Monday, having surged to new highs during the previous week after Federal Reserve chairman Jerome Powell hinted that an interest rate cut could be on the horizon.
Commodities were unwanted at the start of the week, led by a drop in energy futures as hurricane Barry moved inland from the Gulf of Mexico and amid GDP data in China showing that the economy slowed to a year-on-year pace of 6. 2% over the three months to June - its slowest clip since 1992 - after expanding by 6. 4% in the first quarter.
These were the movements in some of the most widely-followed 10-year sovereign bond yields:.
Miners and industrial metals names paced gains at the start of the week, boosted by a slate of solid economic data out China referencing the month of June.
The market spotlight on Tuesday will shift towards the US, with a barrage of economic and corporate reports scheduled for release.
Stocks on the Continent overcame early selling, helped by solid readings on Chinese economic activity in June, after Germany's ministry of Economics warned of softness ahead in the country's services sector.
A Boeing Max 737 delivered to Ryanair has had the model’s name changed on delivery which could mean the manufacturer and airlines will rebrand the controversial model.
London stocks ticked higher on Monday as investors mulled mixed Chinese economic data and the start of the US second quarter earnings season as banking giant delivered a solid score card for the three months to June.
Morgan Stanley has backed the household, personal care and cosmetics sector – but sounded a note of warning about tobacco companies.
Micro Focus slumped on Monday following the news that chairman Kevin Loosemore had sold 650,000 shares in the business last week.
Analysts at RBC Capital Markets lowered their target price on British insurance outfit Hastings Group from 225p to 200p on Monday, reflecting lower estimates for 2020.
Stocks on Wall Street opened broadly flat on Monday after surging to new highs during the previous week after Federal Reserve chairman Jerome Powell hinted that an interest rate cut could be on the horizon.
London’s FTSE 250 was up 0. 2% at 19,598. 29 in afternoon trade on Monday.
Analysts at JP Morgan reiterated their 'overweight' stance on shares of software maker Sophos, telling clients that the reacceleration in billings over the first quarter of the new fiscal year supported confidence in the medium-term thesis for the stock.
A post-Brexit trade deal with the US would take longer than people expected due to the crossover of federal and state jurisdictions and the upcoming presidential election, said International Trade Secretary Liam Fox.
US banking group Citi reported second-quarter earnings ahead of analyst expectations on Monday, despite a fall in investment banking revenues.
The FTSE 100 was up 0. 3% at 7,531. 14 in afternoon trade on Monday as investors digested mixed Chinese data and earnings from Citigroup across the pond.
The UK government must have a strategy in place to deal with the industrial changes that will follow-on from automation and the emerging green economy, said the TUC on Monday.
Clinical-stage biopharmaceutical company Motif Bio has submitted a meeting request and package to the US Food & Drug Administration (FDA) related to its lead product candidate ‘iclaprim’, it said on Monday.
Factory sector activity in the New York area picked up a tad more quickly than expected in July, following a sharp drop during the previous month, according to the results of a closely-followed survey.