Market Pulse
Eurasia Mining produces its first platinum concentrate
Eurasia Mining, Russian based platinum group metal (PGM) and gold production and development company, has announced that it has produced its first platinum concentrate on Friday.
Asia report: Markets mostly lower as North Korea agitates
Markets in Asia ended mostly lower on Friday, as investors expressed their disappointment at the European Central Bank’s Thursday decision, while North Korea claimed a fifth nuclear test.
Thalassa ups stake in Local Shopping REIT
AIM-listed Thalassa Holdings has acquired a bigger stake in The Local Shopping REIT (LSR).
Wells Fargo fined $185m for opening fake accounts
One of the US' biggest banks, Wells Fargo, has been fined $185m by regulators for allegedly creating fake accounts in order to meet sales targets.
Richoux swings to loss on living wage, increased competition
Richoux swung to a loss in the 28 weeks to 10 July as the company was hit by increased competition and the new minimum wage.
Randall & Quilter to acquire Royal London General Insurance
Randall & Quilter (R&Q), a Bermudan insurance group, has announced that it has agreed to acquire the British non-life insurance company Royal London General Insurance (RLGI) that was in run-off.
UK trade deficit narrows in July as exports rise, ONS reveals
The UK’s deficit in trade in goods narrowed in July as exports improved, according to the first release of official data on trade since the Brexit vote.
Ebiquity appoints new CFO
Marketing analytics specialist Ebiquity has appointed Andrew David Noble as chief financial officer and a director of the board with immediate effect.
Burberry shares drop as Goldman highlights subdued outlook
Luxury retailer Burberry was under pressure on Friday after Goldman Sachs removed the stock from its Sustain Focus List, highlighting the company’s subdued outlook.
Bunzl under the cosh on HSBC downgrade
Bunzl was under the cosh on Friday as HSBC downgraded its stance on the distribution and outsourcing group to ‘hold’ from ‘buy’ given the valuation multiples and macroeconomic uncertainty.
ICAP appoints Seth Johnson CEO of EBS BrokerTec
Market operator and information service provider ICAP appointed Seth Johnson chief executive of EBS BrokerTEC, ICAP’s foreign exchange and fixed income global markets division.
Global equities to push higher through mid-2017, says SocGen
Global equities should push higher through mid-2017, Societe Generale said, thanks to stronger growth and a better inflation outlook, along with continued decent yields.
Mediclinic expects revenue from Abu Dhabi to be lower than expected
Private healthcare company Mediclinic said “significant progress” was made integrating the Al Noor Hospital business, but revenues from its Abu Dhabi operations will be lower than anticipated.
IPPlus to sell call centre and software businesses, change name
AIM-listed customer engagement specialist IPPlus has agreed to sell its call centre and software businesses to Direct Response Contact Centres for £6. 7m.
Wetherspoons posts full-year growth as chairman trumpets Brexit
Pub operator JD Wetherspoon posted its preliminary results for the year to 24 July on Friday, with revenue rising 5. 4% to £1. 595bn, and like-for-like sales improving 3. 4% over the prior year.
Europe open: Stocks drift lower amid ECB disappointment
European stocks drifted lower in early trade as investors mulled over the latest inflation figures from China and continued to digest Thursday’s European Central Bank announcement.
London open: Markets edge lower after mixed Chinese data
Stocks dipped at the start of trading, weighed down by mixed inflation readings in China and as investors continued to mull over the European Central Bank’s announcement in the previous session.
UBS ups Randgold to 'buy' after underperformance
UBS upgraded Randgold Resources to ‘buy’ from ‘neutral’ with an unchanged price target to 9,750p on the back of share price weakness and strong momentum in the second half of 2016.
HSBC downgrades Debenhams on structural concerns
HSBC downgraded Debenhams to ‘reduce’ from ‘hold’ but nudged the price target up to 55p from 53p, pointing to long-term structural concerns.
Derwent London sells 75 Wells Street for £41m
Derwent London has sold its long leasehold interest in 75 Wells Street, London W1, to a private investor for £40. 9m before costs.