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Friday newspaper round-up: Ikea, durum wheat, RICS, Goldman
Ikea is poised to buy Topshop’s former flagship store on London’s Oxford Street, once the jewel in Sir Philip Green’s retail empire, for an estimated £385m, creating a new London home for the Swedish furniture brand. The deal to buy the long leasehold on the building, which includes the now-vacant 100,000 sq ft Topshop outlet as well as a Nike Town store and a shop for footwear brand Vans, is expected to complete the sell off of the assets of Green’s Arcadia Group empire which collapsed into administration in November last year.
US producer prices pushed higher by food and transportation
US wholesale prices rose as expected last month amid higher prices for food and transportation.
US and Chinese presidents hold first direct contact since February
The US and Chinese presidents held their first direct conversations since February overnight on Thursday.
Europe close: Stocks dragged lower by early losses on Wall Street
European shares finished lower on Friday, tracking losses on Wall Street.
Berenberg slightly lowers target price on Ashmore Group
Analysts at Berenberg slightly lowered their target price on investment manager Ashmore Group from 340. 0p to 330. 0p on Friday, stating margin pressures were now compounding net flow risks.
Tinder CEO to take top job at Yahoo
Dating platform operator Tinder revealed on Friday that chief executive officer Jim Lanzone was leaving the business in order to take over the top job at Yahoo.
Broker tips: Ashmore Group, IAG, SIG, Purplebricks
Analysts at Berenberg slightly lowered their target price on investment manager Ashmore Group from 340. 0p to 330. 0p on Friday, stating margin pressures were now compounding net flow risks.
London close: Stocks hold their ground despite weak GDP reading
London stocks were still in the black by the end of the day on Friday following heavy losses in the previous session, as investors brushed off disappointing UK GDP data.
Week ahead: UK employment, US CPI data in focus
Financial markets' focus over the coming week will be on a raft of economic data out of the UK and US.
US open: Stocks mixed in early trade
Major indices were mixed early on Friday but still on track to end the week in the red.
Director dealings: 888 Holdings chairman ups stake
888 Holdings revealed on Friday that chairman Jon Mendelsohn had acquired 24,000 ordinary shares in the FTSE 250-listed online betting and gaming company.
FTSE 250 movers: Travel stocks retreat; Discoverie gains
London’s FTSE 250 was down 0. 1% at 23,772. 62 in afternoon trade on Friday.
FTSE 100 movers: Miners rally; IAG hit by broker note
London’s FTSE 100 was up 0. 2% at 7,036. 98 in afternoon trade on Friday.
AAA takeover gets support from 51% of Audiobooom holders
All Active Asset Capital (AAA) said on Friday that holders of 50. 92% of Audioboom’s share capital have said they would support a takeover of the AIM-listed podcast provider.
CMA says PCR market needs tighter regulation
The Competition and Markets Authority said on Friday that the PCR Covid testing market needs to be more tightly regulated.
Credit Suisse cuts IAG price target to reflect rights issue risk
Credit Suisse cut its price target on shares of British Airways and Iberia parent IAG on Friday to 195p from 256p to reflect the increasing risk of a rights issue.
Credit Suisse starts Network International at 'outperform'
Credit Suisse initiated coverage of MEA-focused payments service provider Network International on Friday with an ‘outperform’ rating and 460p price target.
UBS upgrades Purplebricks, says market share losses priced in
UBS upgraded its stance on shares of Purplebricks on Friday to ‘neutral’ from ‘sell’ as it said market share losses are now priced in.
US pre-open: Futures trade higher following four consecutive losing sessions
Wall Street futures were pointing towards a positive open ahead of the bell on Friday but major indices were still on track to end the week in the red.
London midday: Stocks gain as investors shrug off disappointing GDP
London stocks were still in the black by midday on Friday following heavy losses in the previous session, as investors brushed off disappointing UK GDP data.