Market Pulse
FTSE 250 movers: Miners rally as gold price rises after disappointing non-farm payrolls
London’s FTSE 250 index was in the green, rising 1. 14% to 18,052. 91p in afternoon trade on Friday, as miners rallied on an increase in metal prices after the US non-farm payrolls report missed expectations.
Friday newspaper share tips: Vertu Motors, Premier Oil
Investors overreacted after the referendum vote, selling down shares of Vertu Motors over fears that Britons would be too afraid to continue splashing out on big-ticket items like cars, The Times´s Tempus said.
Sector movers: Interest rate-sensitive issues pace gains
The safest and highest dividend-paying stocks paced gains on the market at the end of the week, as a weaker-than-expected US jobs report for August reaffirmed some economists´ view that the US central bank was unlikely to hike interest rates come September.
US jobs report for August: Analysts react
A rate increase in the Fed funds rate come December was still likely but August´s non-farm payrolls report would not convince officials at the US central bank to make a move in September. The rate of growth in average hourly earnings slipped to a six-month low, average weekly hours plumbed a two-and-a-half year low and a 3,100 decline in temporary hiring "wasn´t exactly positive either". Nonetheless, the August report had long history of missing expectations only to afterwards be revised higher.
US trade deficit shrinks significantly in July
America´s trade shortfall with the rest of the world shrank rapidly in August as commodity exports increased sharply, pointing to a potentially sizeable contribution from net trade to economic growth in the third quarter, although both exports and imports had declined year-to-date.
Directors dealings: Melrose director picks up shares in buy-out specialist
Melrose Industries´s non-executive director David Lis picked up a large chunk of shares in the London-listed buy-out specialist, the company said in a statement.
Three pension funds plan to block Sports Direct chairman re-election
Three pension funds are the latest in a round of shareholders who have said they plan to support a trade-union backed motion to call for an independent review of workplace practices at Sports Direct and block the re-election of its chairman.
US factory orders rise in July
US factory orders rose in July following two consecutive monthly decreases, increasing by 1. 9% month-on-month (consensus: 1. 9%) to reach $454. 8bn, according to the US Department of Commerce.
China to open antitrust inquiry into Didi-Uber deal
Didi Chuxing and Uber's $35bn merger is set to be investigated by Chinese antitrust regulators over whether the deal complies with competition legislation in the country.
London close: Stocks rise after US non-farm payrolls miss forecasts
London stocks jumped at the close on Friday after a weaker-than-forecast US non-farm payrolls report was seen to scupper chances of a September interest rate hike by the Federal Reserve.
Specialist Investment Properties agrees to buy Merseyside complex
Specialist Investment Properties announced a new acquisition on Friday - its seventh since implementing its new investment policy in early 2016.
Toumaz teams with Harman for new Google Cast speaker
Digital radio and smart audio technology company Toumaz announced on Friday that its consumer audio business, Frontier Silicon, has been chosen by Harman International Industries, to power its new Google Cast-enabled wireless home speaker, the JBL Playlist.
Gaming Realms teams up with Bauer Media
Creator and publisher of mobile real money and social games, Gaming Realms, announced on Friday that is has signed a marketing partnership deal with Bauer Media UK.
Caterpillar contemplating closure of Belgian plant with 2,000 employees
Shares in Caterpillar were up in early morning trading after it announced it was considering the closure of a production plant in Gosselies, Belgium.
Berkeley Group halts work on luxury development in London
Berkeley Group´s abrupt decision to halt work on a luxury development in London may point to rough seas ahead for the sector in the wake of the referendum vote.
Noida Toll Bridge quarterly profits down
Noida Toll Bridge Company posted its results for the quarter ended 30 June on Friday.
US open: Stocks rise after non-farm payrolls misses forecasts
US stocks advanced on Friday as the non-farm payrolls report significantly missed forecasts, lowering the chances of a September interest rate hike by the Federal Reserve.
US non-farm payrolls rise far less than expected in August
US non-farm payrolls rose by much less than expected in August, lowering the chances of an interest rate hike by the Federal Reserve at its next policy meeting.
StratMin notes deal with Bass Metals over Graphmada
StratMin Global Resources noted on Friday that Bass Metals has notified the Australian Stock Exchange of the issuance of equity in relation to Bass' recent capital raise, and the initial equity settlement component due to StratMin for the acquisition of Graphmada Mauritius.
FTSE 100 movers: Miners advance; Carnival slumps on Morgan Stanley downgrade
London’s FTSE 100 index was up 1. 6% to 6,853. 21 in afternoon trade as investors digested a weaker-than-expected nonfarm payrolls report, which has prompted investors to scale back expectations of the next Fed rate hike.