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Week ahead: Fed speak, global central banks in the spotlight
The US Federal Reserve has a lot on its mind and they want you to know that - now (this week).
London close: Stocks weaker, sterling slides on Kwarteng's plans
London stocks were well below the waterline by the close on Friday, as sterling tumbled through the session after Chancellor Kwasi Kwarteng announced some of the biggest tax cuts since Margaret Thatcher’s premiership.
Weekly review
The FTSE 100 ended the week down 263. 47 points, or 3. 62%, closing at 7,018. 60 on Friday.
US business activity eases again in September
US business activity shrank again in September, albeit at a slower pace, according to a survey released on Friday.
Broker tips: Prudential, MJ Gleeson
Analysts at JP Morgan raised their target price from insurance firm Prudential from £13. 80 per share to £14. 50 on Friday to reflect foreign exchange movements and a roll-forward of its valuation.
FTSE 250 movers: REITs in the red; Spire gains ground
London’s FTSE 250 was down 2% at 17,957. 06 in afternoon trade on Friday.
US open: Stocks extend losses at the open
Wall Street stocks were firmly in the red early on Friday amid concerns that the central bank's aggressive monetary policy may send the US economy into a recession.
FTSE 100 movers: REITs under the cosh; Smiths Group rallies
London’s FTSE 100 was down 2. 1% at 7,006. 48 in afternoon trade on Friday as investors mulled Chancellor Kwasi Kwarteng’s so-called mini-budget.
JP Morgan raises target price on Prudential
Analysts at JP Morgan raised their target price from insurance firm Prudential from £13. 80 per share to £14. 50 on Friday to reflect foreign exchange movements and a roll-forward of its valuation.
US pre-open: Stock futures lower amid ongoing recession fears
Wall Street futures were firmly in the red ahead of the bell on Friday amid concerns that the central bank's aggressive monetary policy may send the US economy into a recession.
Director dealings: Bridgepoint chair buys almost £1m in shares
Bridgepoint shares were in negative territory on Friday afternoon, after the company’s chairman spent almost £1m on 400,000 of its shares.
Egdon shares jump on end of UK fracking ban
Egdon Resources issued a statement “welcoming” the lifting of the UK government’s ban on fracking on Friday.
Scancell presents new, positive data on possible cancer therapies
Immunotherapy developer Scancell was presenting two posters at the EuroMAbNet 12th annual meeting in Hamburg on Friday, with the first highlighting new data on its ‘AvidiMab’ and ‘GlyMab’ technologies.
Crossword Cybersecurity raises £3.6m for product and sales development
Crossword Cybersecurity announced that it had raised £3. 6m in a placing on Friday, to be used on sales and marketing, product development and geographical expansion.
Longboat Energy upbeat on drilling at OMV licence
Emerging explorer and producer Longboat Energy announced the encounter of hydrocarbons in the OMV-operated exploration well 30/5-4S on Friday, where it has a 20% interest.
Tekcapital's MicroSalt to launch US retail product
Intellectual property investor Tekcapital announced on Friday that its portfolio company MicroSalt would launch the “first full-flavour” lower sodium table salt shaker to major retail chains on 1 October.
Revenues rise, losses narrow for B90 Holdings
Gaming marketing and operating company B90 reported a 150% increase in revenues in its first half on Friday, to €1m.
Tern assets under management decrease 'marginally'
Technology investor Tern reported assets under management of £30. 2m at the end of its first half on Friday - a “marginal decrease” from the £30. 6m it recorded at the end of December.
Navitas joins Rockhopper as new operator at Sea Lion
Oil and gas explorer and producer Rockhopper Exploration announced on Friday that the transaction enabling Harbour Energy to exit the North Falkland Basin had been completed.
Oracle Power losses widen as it progresses various projects
Natural resources project developer Oracle Power reported a first-half loss after tax of £0. 36m on Friday, widening from £0. 3m year-on-year.