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Weekly review
The FTSE 100 ended the week down 129. 67 points, or 1. 67%, closing at 7,627. 2 on Friday.
Europe close: Stocks rebound on reports of US debt ceiling progress
European shares rebounded on Friday, driven by rising mining stocks and as talks on the US debt ceiling crept towards a resolution.
Week ahead: US non-farm payrolls, China factory PMI in focus
All eyes over the coming holiday-shortened week would be on the ongoing debt ceiling talks and the latest non-farm payrolls report in the US.
London close: Stocks mixed amid renewed US debt ceiling hopes
London’s stock markets ended the week on a mixed note on Friday, with the benchmark index rising amid hopes of a nearing deal over the US federal debt ceiling.
FTSE 100 movers: Miners rally; IAG flies lower
London’s FTSE 100 was up 0. 9% at 7,636. 70 in afternoon trade on Friday.
US consumer confidence slips in May, price expectations fall, University of Michigan says
Consumer confidence in the US slipped in May amid the uncertainty around the debt ceiling crisis and concern about a potential recession, the results of a closely followed survey revealed.
FTSE 250 movers: Tullow gushes, Darktrace tumbles on BoA note
Cybersecurity firm Darktrace tumbled on Friday after Bank of America Merrill Lynch initiated coverage of the stock with an ‘underperform’ rating and a "street-low" price target of 240p, which implies 18% downside potential.
US open: Stocks jump amid reports of progress in debt ceiling talks
Stocks on Wall Street were trading on the front foot at the end of the week as investors assessed signs of progress in debt ceiling negotiations.
BofA ML starts Darktrace at 'underperform', shares slide
Cybersecurity firm Darktrace tumbled on Friday after Bank of America Merrill Lynch initiated coverage of the stock with an ‘underperform’ rating and a "street-low" price target of 240p, which implies 18% downside potential.
Broker tips: Darktrace, Halfords, Asos
Cybersecurity firm Darktrace tumbled on Friday after Bank of America Merrill Lynch initiated coverage of the stock with an ‘underperform’ rating and a "street-low" price target of 240p, which implies 18% downside potential.
Director dealings: Playtech CEO picks up shares, RS Group non-exec invests
Playtech found itself on the list of director buys on Friday, after its chief executive officer spent almost £0. 3m on shares.
Pelatro earnings fall in 'disappointing' year
Marketing software specialist Pelatro reported revenue of $5. 4m in its final results on Friday, down from $7. 3m in 2021.
XLMedia confident despite first-half softness
Digital media company XLMedia said in an update on Friday that the first half of 2023 was expected to see lower revenues compared to the same period in 2022, mainly due to the absence of the highly-anticipated launch of online sports betting in New York state.
US personal spending rebounds in April, price gains pick up
Americans resumed splashing out last month, pushing the savings rate lower.
US visible trade deficit yawns wider in April
America's visible trade deficit yawned wider last month as exports shrank rapidly.
Meta to limit ad data use to appease UK competition concerns
Meta Platforms has offered to make changes to the way it uses advertising data from other businesses, it was confirmed on Friday, as it looks to appease concerns flagged by the UK competition watchdog.
Cazoo debtholders enlist bankers ahead of crunch talks - report
Lenders to online car retailer Cazoo have reportedly enlisted bankers to spearhead talks with the company about a £510m debt restructuring.
Quantum Blockchain hires new mining and hardware-focussed manager
Quantum Blockchain announced the appointment of Vladimir Kusznirczuk as its marketing and business development manager on Friday, focusing on expanding opportunities with major Bitcoin miners and mining rig manufacturers in the US and Canada.
Prospex upbeat on outlook as total assets surge
Prospex Energy reported a significant increase in total assets in its final results on Friday, reaching £16. 06m, compared to £6. 7m in 2021.
Pan African lowers full-year production guidance, announces fatality
South African gold miner Pan African Resources downwardly-revised its production guidance for the financial year ending 30 June on Friday, alongside the imminent start of construction at the Mintails project.