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JP Morgan cuts Drax target price but says shares are 'oversold'
Analysts at JP Morgan reiterated their 'overweight' stance on shares of Drax, telling clients that markets were apparently discounting too steep a drop in wholesale electricity power prices and overlooking the company's resilience in the face of the Covid-19 pandemic.
New M&S clothing boss Price to arrive in July
Marks & Spencer said Richard Price would arrive from Tesco in July to revive its clothing business almost eight months after his appointment was announced.
US close: Wall Street stages massive turnaround as bank stocks surge
US stocks closed higher on Thursday on a solid performance from bank shares and climbing oil prices helped offset another dire jobless report.
Europe close: Stocks finish sharply lower amid losses for insurance and auto firms
Stocks finished deep in the red amid media coverage of warnings from multiple hedge fund bosses over preceding days who said that stocks around the world were overextended and ripe for a correction.
Friday preview: China data, William Hill in focus
The economic calendar for the last session of the week is brimming with top-tier economic releases from all the major jurisdictions outside of the UK.
Director dealings: Oxford BioDynamics chair ups stake
Oxford BioDynamics revealed on Thursday that interim chairman Stephen Diggle had acquired 30,000 ordinary shares in the AIM-listed biotechnology firm via his interest in Vulpes Testudo Fund.
London close: Stocks fall amid second-wave virus concerns
London stocks finished well into the red on Thursday, as markets were gripped by worries about a second wave of coronavirus infections and a global recession.
TI Fluid's £27m dividend ditched after Bain opposes
TI Fluid Systems' shareholders will miss out on a £27m dividend after the company's US majority shareholder voted against the payout because TI has furloughed and cut the pay of workers.
Broker tips: Greencore, Sage, HSBC
Shares of Irish convenience food group Greencore slumped on Thursday as Jefferies downgraded the stock to ‘hold’ from ‘buy’ and slashed the price target to 165p from 235p.
Mercia's Medherant investment partners with Cycle Pharmaceuticals
Specialist regional asset manager Mercia Asset Management announced on Thursday that transdermal drug delivery company Medherant, in which it holds a 30. 1% direct stake, has entered into a partnership with Cycle Pharmaceuticals to develop new products using Medherant's proprietary ‘TEPI Patch’ technology.
Bango signs 'significant' deal with global telecoms provider
Mobile commerce company Bango has signed a “significant”, multi-year platform agreement with an unnamed “major” global telecoms provider, it announced on Thursday.
FTSE 250 movers: Sirius Real Estate rallies; transport operators slide
London’s FTSE 250 was down 3. 2% at 15,370. 96 in afternoon trade on Thursday.
FTSE 100 movers: 3i rallies on results; housebuilders slump
London’s FTSE 100 was down 3. 3% at 5,710. 02 in afternoon trade on Thursday.
Government spending to soar as furlough scheme is extended - OBR
Government plans to support workers and businesses through the Covid-19 outbreak could cost more than £123bn, the budget watchdog said on Thursday, after the furlough scheme was extended until the end of October.
US open: Stocks slide on Powell's warning and jobless figures
US stocks recorded heavy losses on Thursday as market participants digested an economic warning from Federal Reserve head Jerome Powell and another dire jobless report.
ImmuPharma shares surge on Covid-19 potential
Specialist drug discovery and development company ImmuPharma updated the market on activities around Covid-19 on Thursday, having expanded its pipeline in late March to include three new 'anti-infective' programmes, one of which was in antivirals.
Direct Line gets female top duo as Gray becomes chair
Direct Line has appointed non-executive director Danuta Gray as chair in a move that puts women in the top two jobs at the FTSE 250 insurer.
React Group wins incremental contract from existing rail customer
Specialist cleaning, hygiene and decontamination company React Group has been awarded a contract to provide specialist deep cleaning services on a regular basis to one of its tier-1 rail sector customers, it announced on Thursday.
Mark Garrett signs on as new COO at Ceres Power
Fuel cell technology company Ceres Power Holdings announced the appointment of Mark Garrett as its chief operating officer on Thursday, joining the executive management board, from 10 August.
Greencore tumbles on Jefferies downgrade
Shares of Irish convenience food group Greencore slumped on Thursday as Jefferies downgraded the stock to ‘hold’ from ‘buy’ and slashed the price target to 165p from 235p.