Wall Street stocks closed higher on Monday as news of some major corporate deals temporarily distracted market participants from headlines related to the Wuhan coronavirus outbreak.
The market spotlight on Tuesday will fall on a raft of UK activity indicators for December, together with a preliminary reading for the fourth quarter of 2019.
Energy futures were again on the backfoot as the number of Chinese coronavirus cases continued to mount and the head of the world´s health watchdog warned of outbreaks outside of China.
Stocks across the Continent finished on a mixed note with Irish and German stocks in focus amid the latest and unexpected political headlines coming out of each of those countries.
Sinn Féin has managed to secure a victory in Ireland’s general elections and requested talks with rivals Fine Gael and Fianna Fáil to form a coalition government.
London stocks were a little weaker on Monday amid ongoing concerns about the spread of the coronavirus, as the UK declared it a "serious and imminent threat" to the public and health secretary Matt Hancock declared Wuhan and Hubei province in China an "infected area".
Razorblade manufacturer Edgewell Personal Care abandoned its planned $1. 37bn deal to buy out rival Harry's after the Federal Trade Commission sought to stop the merger.
ASOS got a boost on Monday as Berenberg upgraded its stance on the shares to ‘buy’ from ‘hold’ and hiked the price target to 4,200 from 3,000p, saying the online fashion retailer is "out of the woods" and the current valuation is a "compelling" entry point.
Midwich Group revealed on Monday that managing director Stephen Fenby had purchased 200,000 ordinary shares in the AIM-listed audio visual distributor.
Wall Street stocks opened higher on Monday as news of some major corporate deals temporarily distracted market participants from headlines related to the Wuhan coronavirus outbreak.
Samsung released its new foldable phone in a television commercial during the Oscars Award ceremony.
Analysts at Canaccord Genuity upped their target price on development and exploration firm TransGlobe Energy from 235. 0p to 245. 0p on Monday as a result of some increased Canadian production.
Analysts at ShoreCap reiterated their 'buy' recommendation for shares of TUI Group, arguing that the purchase of Hapag Lloyd Cruises by TUI Cruises, its 50. 0% joint-venture with Royal Carribean, demonstrated that the share price was failing to reflect the value of the company's cruise and hotel assets.
Analysts at Jefferies sounded a 'bullish' note on UK equities, telling clients that "Brexit is done but UK equities are not".
Hutchison China MediTech, trading as Chi-Med, announced the availability of updated results from the phase 2 ‘CALYPSO’ study of the savolitinib and ‘Imfinzi’ (durvalumab) combination in a cohort of patients with metastatic papillary renal cell carcinoma (PRCC) on Monday.
London’s FTSE 250 was down 0. 1% at 21,484. 41 in afternoon trade on Monday.
Geely Automobile and Volvo Cars are considering a multi-billion dollar merger, it was confirmed on Monday.
Thor Mining announced on Monday that the disposal of its interest in ASX-listed Hawkstone Mining had completed.
Business sector gas, electricity and water supplier Yü Group announced on Monday that current board director, Garry Pickering, was taking on a new role within the group, effective immediately.
London’s FTSE 100 was down 0. 4% at 7,439. 78 in afternoon trade on Monday amid ongoing concerns about the coronavirus.