Market Report
Rio Tinto to buy back $1.5bn of near-term debt
Rio Tinto has begun to use its healthy levels of cash to pay off around $1. 5bn of its near-term debt.
Thursday newspaper share tips: Travis Perkins, Connect Group
Travis Perkins’s business model, based on steady progress, should reap rewards for its investors in the long-term, The Times’s Tempus said.
Philly Fed factory index tumbles in April, back in the red
Manufacturing conditions in the Philadelphia region deteriorated a lot more than expected in April, according to the latest report from the Federal Reserve Bank of Philadelphia.
US economy slowed down further in March, Chicago Fed index shows
Economic activity Stateside slowed down further in March, according to a widely followed gauge.
General Motors first-quarter profit more than doubles
General Motors rallied in pre-market trade as it said first-quarter net income more than doubled compared with the previous year.
JP Morgan stays at underweight on BHP, ups target price
BHP Billiton’s reduced forecasts for iron ore production led JP Morgan to further trim its projections for output in 2017, but the broker continued to believe the miner’s valuation premium was “difficult to justify”.
Profits up as Sky claims to reach 40 million households
FTSE 100 subscription broadcaster Sky reported strong growth in customer numbers on Thursday, claiming it surpassed the 40 million homes mark in the UK and Ireland.
GW Pharma wins US orphan status for tuberous sclerosis complex drug
GW Pharmaceuticals has received 'orphan drug' designation from the US regulator for the company's cannabis-derived treatment for a rare genetic disorder.
Sky left at 'add' rating by Numis after interims
Numis reiterated an ‘add’ rating and target price of 1,250p for Sky after the broadcaster reported its quarterly interims.
IEA warns of large drop in non-OPEC oil production in 2016
Governments needed to strike a delicate balance between continued investment in conventional sources of energy, so as to avoid sharp moves in prices, while also investing in the renewable sources which would be needed to take up the slack if long-term targets for limiting damage to the world’s climate were to be met, the rich-world’s energy watchdog said.
Europe midday: Stocks edge lower ahead of ECB announcement
European stocks fell on Thursday as investors looked to the European Central Bank’s latest rate announcement and amid steadying oil prices.
London midday: Stocks fall after UK retail sales data misses forecasts
The FTSE 100 was under pressure on Thursday after official data showed UK retail sales fell more than expected in March.
Results round-up
FTSE 100 subscription broadcaster Sky reported strong growth in customer numbers on Thursday, claiming it surpassed the 40 million home mark in the UK and Ireland.
US pre-open: Flat start seen as oil prices steady
US futures pointed to a broadly flat open on Wall Street as oil prices hovered around the flat line.
UBS downgrades Standard Chartered to 'sell' on overoptimistic premium
UBS has downgraded Standard Chartered to 'sell' from 'neutral' after the emerging markets-focused bank recovered more than 40% from its February lows and stands at a hefty premium to many peers.
Comment: Beyond the ECB's monetary policy and the EURUSD impact
By Ipek Ozkardeskaya, analyst at London Capital Group.
Barclays downgrades Zoopla, says valuation up with events
Barclays downgraded Zoopla to ‘equalweight’ from ‘overweight’ but lifted the price target to 295p from 270p, saying the valuation on the core property services business is up with events.
Asia report: Markets leave China behind amid liquidity concerns
Major markets in Asia advanced on Thursday, with Japan extending gains, though Chinese equities ended down after a choppy day of trading.
Berenberg downgrades Victrex to 'hold'
Berenberg downgraded Victrex to ‘hold’ from ‘buy’ and cut the price target to 1,620 from 1,800 citing a lack of earnings catalysts from consumer electronics capacity.