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London close: FTSE gains as retailers rise despite disappointing data
London stocks ended in the black on Friday, with retailers on the rise despite disappointing retail sales and consumer confidence data.
Europe close: Stocks finish higher on China optimism
European shares were still in the green by the end of Friday, amid investor optimism over the reopening of China’s economy, and as Wall Street equities started to recover from a weak session overnight.
Weekly review
The FTSE 100 ended the week down 73. 48 points, or 0. 94%, closing at 7,770. 59 on Friday.
In The Style warns over widening losses
Fashion brand In The Style warned on Friday of widening losses as it reported a drop in sales, with the cost-of-living crisis denting consumer demand.
Broker tips: Secure Trust, Crest Nicholson, Hargreaves Lansdown
Analysts at Berenberg lowered their target price on retail and commercial bank Secure Trust from 1,820. 0p to 1,420. 0p on Friday as the group continues to navigate current conditions.
Director dealings: Centralnic director raises stake
Centralnic Group revealed on Friday that non-executive director May Royde had acquired 85,000 ordinary shares in the AIM-listed IT service management company.
Hunt mulling £300m rescue package for British Steel
Chancellor Jeremy Hunt is nearing a £300. 0m air package for British Steel, the UK's second-largest steel producer, as part of an effort to avoid the group's collapse and save thousands of jobs.
FTSE 100 movers: Retailers rise; Hargreaves Lansdown hit by downgrade
London’s FTSE 100 was up 0. 2% at 7,764. 31 in afternoon trade on Friday.
US pre-open: Dow slightly higher, Amazon and Netflix lift Nasdaq
Wall Street stocks were in the green early on Friday despite concerns regarding US monetary policy and weaker earnings.
FTSE 250 movers: Asos back in fashion; Spirent slumps
FTSE 250: 19,640. 25. +0. 34% at 1415 GMT.
Spirent shares plunge as customers delay investment decisions
Shares in telecoms testing company Spirent Communications slumped on Friday as the company said it expected earnings to be weighted towards the second half as customers delayed investment decisions.
Berenberg lowers target price on Secure Trust
Analysts at Berenberg lowered their target price on retail and commercial bank Secure Trust from 1,820. 0p to 1,420. 0p on Friday as the group continues to navigate current conditions.
UBS downgrades Crest Nicholson to ‘sell’
UBS downgraded housebuilder Crest Nicholson on Friday to ‘sell’ from ‘neutral’ as it pointed to unfavourable risk/reward.
Ericsson Q4 earnings miss, equipment sales ease
Telecommunications group Ericsson posted weaker-than-expected fourth-quarter core earnings on Friday amid a slowdown in 5G equipment sales.
TruFin reports solid progress across its portfolio
Financial technology investor TruFin announced in an update on Friday that its Satago Financial Solutions investment had delivered the trial phase of its fully-digitised end-to-end invoice finance solution with Lloyds Banking Group.
Allergy Therapeutics confident in funding as results remain late
Commercial biotechnology company Allergy Therapeutics said in an update on Friday that it expects first-half revenue of £39. 9m, making for a decrease of 18% year-on-year.
US pre-open: Stocks mixed as recessionary concerns remain in focus
Wall Street futures were pointing to a mixed open ahead of the bell on Friday amid ongoing concerns regarding US monetary policy and weaker earnings.
GreenRoc upbeat on recent test work, community meetings
Greenland-focussed minerals developer GreenRoc Mining announced the results of purification test work that it conducted on spheronised graphite produced from an Amitsoq graphite sample on Friday.
SSE lifts earnings forecast as gas prices surge
Power generator SSE upgraded annual earnings expectations as higher gas prices and better storage offset lower-than-expected renewables output.
Europe midday: Shares hold gains on China optimism
European shares held gains on investor optimism over the reopening of China’s economy, despite a weak session on Wall Street overnight and mixed Asian markets.