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Monday broker round-up
Burberry Group: RBC Capital Markets upgrades to sector perform with a target price of 1,620. 0p.
US close: Stocks register first four-day losing streak in seven months
Wall Street stocks closed lower on Monday as Chinese trade relations, a potential second wave of the Covid-19 pandemic and stimulus negotiations were all in focus.
Sector movers: Oil equipment and lenders' shares weaken on concern around second Covid-19 wave
Cyclicals were all lower at the end of the week as investors recoiled at the prospect that Covid-19 lockdown measures across the Continent might be tightened amid the renewed increases in the number of novel coronavirus infections.
Europe close: Stocks walloped by lockdown worries, leak of bank files
European shares started the week deep in the red as fears over increasing coronavirus cases across the Continent combined with a leak of confidential reports from banks around the world to the US Treasury regarding potential money laundering to knock investor sentiment hard.
Tuesday preview: Fed's Powell, Close Brothers Group in focus
All eyes will be on US Federal Reserve chairman, Jerome Powell, as he testifies before a panel from the US House of Representatives' Financial Services Committee.
London close: Stocks finish weaker on London lockdown fears
London equity markets remained seriously depressed by the close on Monday, with travel, hospitality and leisure stocks all under the cosh as investors mulled the prospect of tougher lockdown restrictions.
Broker tips: Keywords Studios, Burberry
Analysts at Berenberg raised their target price on video games developer Keywords Studios from 2,250. 0p to 2,510. 0p on Monday, stating the firm now had a "stronger" mid-term growth outlook than before.
Covid-19 impact could limit cash access - FCA boss
The City regulator has warned many people could struggle to get access to cash after Covid-19 intensified pressures on banks' branches and ATM networks.
Libyan oil exports may be set to restart as warring factions agree deal
Libyan oil production and exports from the east of the country are set to restart following a conditional lifting of the blockade imposed by the Libyan National Army under the command of Khalifa Haftar.
Trump fires latest salvo in proposed TikTok deal with Oracle and Walmart
US president Donald Trump has warned that the White House could block TikTok’s proposed tie-up with Oracle and Walmart if ByteDance seeks to retain overall control.
Director dealings: Taylor Wimpey CEO makes share sale
Taylor Wimpey revealed on Monday that chief executive Pete Redfern had disposed of 102,735 ordinary shares in the FTSE 100-listed housebuilder.
Yourgene appoints new United States test distributor
Molecular diagnostics company Yourgene has appointed Immuno-Biological Laboratories, a supplier of in-vitro diagnostic kits for the medical device and research industry, as a non-exclusive distributor for several polymerase chain reaction (PCR) tests across its reproductive health and oncology portfolios in the United States, it announced on Monday.
IG Design maintains solid momentum in new financial yeat
Celebrations, gifting and stationery designer and manufacturer IG Design Group updated the market on its trading on Monday, reporting that it had maintained “good” trading momentum since the start of its new financial year.
Gulf Marine accuses Seafox of seeking to seize control
Gulf Marine Services has reported Seafox International to the Takeover Panel after the offshore jackup company tried to oust GMS's non-executive directors and replace them with its own nominees.
FTSE 100 movers: IAG tanks amid Covid fears; supermarkets rise
London’s FTSE 100 was down 3% at 5,828. 13 in afternoon trade on Monday amid worries about rising Covid cases and tougher restrictions.
RBC Capital upgrades Burberry to 'sector perform'
RBC Capital Markets upgraded Burberry to ‘sector perform’ from ‘underperform’ on Monday, lifting the price target to 1,620p from 1,450p as it pointed to limited downside risk following a 28 percentage point year-to-date relative share price underperformance.
US open: Stocks slide as tech shares, stimulus talks remain in focus
Wall Street stocks opened lower on Monday as tech shares struggled again and Chinese trade relations and stimulus negotiations also remained in focus.
FTSE 250 movers: Mitchells & Butlers, Trainline slump on restriction fears
London’s FTSE 250 was down 3. 8% at 16,904. 56 in afternoon trade on Monday amid worries about rising Covid-19 cases and tighter restrictions.
Microsoft to buy Bethesda parent ZeniMax Media for $7.5bn
Microsoft said on Monday that it has agreed to buy ZeniMax Media, the parent of game developers Bethesda Softworks, for $7. 5bn in cash.
HSBC hits 25-year low as allegations add to pressures
HSBC shares fell to a 25-year low as Britain's banks were affected by allegations of moving illicit money as well as renewed pressure from the resurgence of Covid-19.