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Tuesday broker round-up
Renishaw: Morgan Stanley downgrades to equal weight with a target price of 4,500. 0p.
Goldman lifts 12-month gold price forecast to $2,300
Goldman Sachs bumped up its gold price forecast on Tuesday, highlighting concerns around the longevity of the US dollar as a reserve currency.
Barclays upgrades BT to ‘equalweight’
Barclays lifted its stance on BT to ‘equalweight’ from ‘underweight’ on Tuesday, upping the price target to 130p from 115p as it said Openreach’s plans to build fibre-to-the-premises for 20 million homes over the next five to 10 years will be a positive.
Housebuilders rally on report of Help to Buy extension
Shares of London-listed housebuilders rallied on Tuesday following a report the UK government is planning to extend the Help to Buy scheme.
ULS buoyed by 'quicker-than-expected' housing market rebound
Conveyancing and financial intermediary platform provider ULS Technology said on Tuesday that recent trading had been buoyed by the “quicker than expected” rebound in the housing market.
SSE appoints John Manzoni as chair
Energy company SSE has appointed Sir John Manzoni to succeed Richard Gillingwater as chair of the board with effect from 1 April 2021.
Europe midday: Stocks reverse early gains amid pandemic worries
Stocks in Europe have given back early gains despite reports that US lawmakers were preparing a further $1. 0trn round of fiscal stimulus.
US pre-open: Futures point to losses ahead of earnings deluge
Wall Street futures had stocks opening lower on Tuesday ahead of a veritable array of major corporate earnings.
Berenberg raises target price on Fevertree
Analysts at Berenberg raised their target price on drinks maker Fevertree 's shares from 2,250. 0p to 2,350. 0p on Tuesday after the group managed to consistently achieve "impressive" off-trade sales growth since the pre-lockdown stockpiling period.
Card Factory sees sales halve in wake of Covid-19 pandemic
Card Factory expects sales to have nearly halved in the wake of the Covid-19 pandemic, although sales since reopening began had performed ahead of expectations.
Retail sales return to growth in July - CBI
Retail sales rose a little in July after non-essential shops were allowed to reopen following the Covid-19 lockdown, but sales are expected to dip next month, according to a survey from the Confederation of British Industry.
London midday: Stocks turn lower as virus fears take hold again
London stocks had reversed earlier gains by midday on Tuesday as worries about a rise in new coronavirus infections outweighed hopes of a US stimulus package and a strong showing in the housebuilding sector.
Petropavlovsk may delay 1H results after PwC declines appointment as auditor
Auditors PwC declined Petropavlovsk's decision to appoint them as the company's new auditors following the recent multiple changes to the Russian gold miner's board.
Open Orphan to conduct in-human trials on Covid-19 intranasal vaccine candidate
Pharmaceutical services company Open Orphan has secured a contract with Codagenix to conduct a first in-human trial evaluating the safety and immunogenicity of a single-dose, intranasal SARS-CoV-2 vaccine candidate.
Google to build undersea fiber-optic cable to connect US, Britain and Spain
Google is set to build its new Grace Hopper fiber-optic cable to improve its services that will connect New York to Bude in the UK and Bilbao in Spain.
Tower Resources upbeat on recent activity near Namibian blocks
Africa-focussed oil and gas company Tower Resources updated the market on activity at licence PEL 96 in Namibia on Tuesday, covering blocks 1910A, 1911 and 1912B.
Irish Continental seeks end to RoI quarantine rules as volumes plunge
Irish Continental Group reported a 65% fall in car volumes in its first half on Tuesday, at 56,600 vehicles, while roll-on, roll-off (RoRo) freight was 2. 7% weaker at 149,400 vehicles.
European Metals shares surge on new Cinovec service agreement
European Metals Holdings announced on Tuesday that a ‘value added services agreement’ with KIC InnoEnergy - the primary facilitator and organiser of the European Battery Alliance - has been entered into by Geomet, for the Cinovec Lithium Project in the Czech Republic.
Asia report: Markets mixed as gold pushes new record highs
Markets in Asia finished in a mixed state on Tuesday, as gold prices dipped from record highs late in the session, amid ongoing Covid-19 concerns and geopolitical tensions between the US and China.
Cleaning product demand boosts Reckitt Benckiser H1
Consumer goods giant Reckitt Benckiser reported a jump in first-half net revenue and profit on Tuesday thanks to a strong performance from its health and hygiene businesses as the Covid-19 pandemic boosted demand for cleaning and pain relief products.