Market Report
Monday broker round-up
Wood Group: Jefferies downgrades to underperform with a target price of 480p.
Lonmin paints bleak picture as it calls on shareholders to back takeover
Lonmin issued a stark warning on Monday, telling investors it does not have the funds needed to sustain the business long-term, and urged them to back a takeover offer from rival miner Sibanye-Stillwater.
Brady swings to profit, upbeat about 2019
Risk management software provider Brady said on Monday that it swung to a profit last year as revenue edged up and costs declined.
DLA Piper and Hiscox clash over cyberattack payout - report
The UK’s largest law firm has started proceedings against its insurer after it failed to pay out over a global cyberattack.
Mueller report finds no collusion between Trump and Russia
US justice department special counsel Robert Mueller concluded that US President Donald Trump did not collude with Russia during the campaign of the 2016 general elections, but did not exonerate him from allegations that he might have obstructed justice.
Braemar profits slip despite strong showing from shipbroking unit
Braemar Shipping warned investors on Monday that annual profits would come in lower year-on-year despite a solid performance from its shipbroking unit in the second half of the year.
Strong second half helps iEnergizer top target
Technology services and media solutions outfit iEnergizer told investors on Monday that a solid second half performance had boosted both revenues and profits well ahead of guidance.
Provident Financial urges shareholders to reject NSF offer
Doorstep lender Provident Financial has once again urged its shareholders to reject a £1. 3bn hostile bid from smaller rival Non-Standard Finance, as it announced the appointment of a new managing director of Vanquis Bank.
Nike fined for EU football strip restrictions
The European Commission has hit American shoemaker Nike with a sizeable fine for preventing retailers and licencees from selling licensed merchandise to other countries within the European Economic Area.
Pantheon Resources strikes oil on Alaska's North Slope
Oil and gas explorer Pantheon Resources has confirmed an oil discovery at its Alkaid well on Alaska's North Slope.
Majestic to close stores, rebrand as Naked Wines as it focuses on online
Shares in Majestic Wine slumped on Monday as the company said it was rebranding under the name Naked Wines as it focuses on its online business, releasing capital from its retail and commercial operations.
Aeorema Communications drops as revenue increase offset by costs
Aeorema Communications' shares slid on Monday after increases in administrative expenses and cost of sales over the front half of the latest financial year largely offset higher revenues.
London midday: Stocks maintain losses amid concerns over growth, Brexit
London stocks were still in the red by midday on Monday as investors fretted about global growth and Brexit developments, with a better-than-expected reading on German business sentiment doing little to improve the mood.
US pre-open: Stocks seen lower as investors eye Apple press event
US stock futures pointed to a lower open on Wall Street on Monday amid worries about global growth, with Apple firmly in focus ahead of a press event.
Former Fed chair plays down recession fears despite bond yields fall
A former US Federal Reserve chair has played down the prospect of America being hit by an imminent recession, after heavy falls in government bond yields rattled markets.
Appraisal drilling about to begin at West Newton, says Reabold
Reabold Resources announced on Monday that Rathlin Energy UK, operator of the PEDL 183 license onshore UK, has signed a rig contract for the drilling of the West Newton appraisal well, expected to spud in April.
Integumen upbeat on promising cannabis skincare test results
Integumen announced positive results from further tests in formulations on Monday, all of which contained low-concentrations of hemp-derived cannabinoid (CBD) oils.
Asia report: Markets plunge as fears for global economy rise
Markets in Asia were in the red across the board on Monday, as fears for the global economy took hold after a slew of negative data from both the US and Europe last week.
JP Morgan recommends clients add further to equity positions
Equity strategists at JP Morgan recommended clients use the consolidation to "add further" to their positions in stocks, arguing that investor positioning was "light" and that companies' profit margins were set to improve.
Activist investor ValueAct cuts Rolls-Royce stake
Rolls-Royce was under pressure on Monday after San Francisco-based activist investor ValueAct Capital Management cut its stake in the company.