Market Report
London close: Markets finish Friday with modest gains
London stocks sneaked into the green by the close on Friday, as investors digested news that public sector net borrowing in the UK rose sharply in June and continued to react to Fed developments stateside overnight.
Europe close: Stocks stay above the water to end week in the green
European shares were just above the waterline as they closed on Friday, with a boost from stronger sessions in the US and Asia and renewed hopes of more monetary easing from the US Federal Reserve managing to keep things chugging.
Broker tips: EasyJet, Beazley
Analysts at Berenberg upped their target price on low-cost carrier EasyJet from 1,120p to 1,150p on Friday, noting that momentum appeared to have improved earlier than they expected.
FTSE 250 movers: Acacia Gold shines, Funding Circle falters
London’s FTSE 250 was up 0. 35% at 19,604. 19 in afternoon trade on Friday, with Acacia Gold leading the index higher.
BlackRock falls short of estimates as revenues slide
US asset manager BlackRock fell short of estimates on the Street in its last trading quarter as investment advisory and lending revenues dropped amid a rise in costs.
Director dealings: Lekoil founder ups stake
Lekoil revealed on Friday that chief executive Olalekan Akinyanmi had acquired 915,950 ordinary shares in the AIM-listed crude oil producer.
RBC reiterates 'top pick' rating on Beazley
Analysts at RBC Capital Markets reiterated their 'top pick' rating on British insurance firm Beazley on Friday, but cut their target price from 700p to 675p, citing a short term negative impact on its earnings.
Beter Bed reaches financial agreements with banks and major shareholders
Beter Bed Holding announced on Friday that it had reached agreement with its banks and major shareholders to facilitate its exit of German mattress discounter Matratzen Concord.
Symphony Environmental raises £1.93m via subscription
Symphony Environmental Technologies announced an equity subscription for 15,456,900 new ordinary shares by Vincel Investment Holdings on Friday, at a price of 12. 5p each, making for gross proceeds of £1. 93m.
US consumer sentiment picks up in July - Uni Michigan
Consumer sentiment in the US picked up a touch in July, according to a preliminary reading from the University of Michigan.
PepsiCo to buy South Africa's Pioneer Foods for $1.7bn
PepsiCo has agreed to buy South Africa’s Pioneer Foods Group for $1. 7bn.
US open: Stocks go green as focus switches back to the Fed
US stocks opened higher on Friday after two top Federal Reserve officials hinted that more aggressive policy easing from the central bank was on the horizon.
CMA raises competition concerns around new East Midlands franchise
The Competition and Markets Authority (CMA) has been investigating the award of the East Midlands rail franchise to Abellio, it announced on Friday, as part of its remit to look into the award of rail franchises as part of its mergers work.
Berenberg raises target price on EasyJet following Q3 update
Analysts at Berenberg upped their target price on low-cost carrier EasyJet from 1,120p to 1,150p on Friday, noting that momentum appeared to have improved earlier than they expected.
FTSE 100 movers: Tui shares travel higher; WPP hit by Publicis results
London’s FTSE 100 was up 0. 2% at 7,504. 67 in afternoon trade on Friday.
US pre-open: Futures point to gains as interest rate cuts return to focus
Wall Street futures pointed to a firmer open on Friday after two top Federal Reserve officials hinted that more aggressive policy easing from the central bank was on the horizon.
Amerisur Resources considering sale as it announces strategic review
South America-focused oil and gas producer and explorer Amerisur Resources announced a strategic review on Friday, which could include a sale of the company.
Week Ahead: Pharmaceutical giants report; BoJo set to be crowned PM
Corporate news flow will pick up again next week, with results from the likes of ITV, GlaxoSmithKline, AstraZeneca, Fevertree and many others due before the August lull kicks in.
Nordea boss warns of further job cuts
Nordea Bank on Friday it would have to axe more jobs to cut costs less than two years after sacking 6,000 staff.
Europe midday: Shares flat after Fed comment 'clarification'
European shares were flat as an initial boost from stronger sessions in the US and Asia and renewed hopes of more monetary easing from the US Federal Reserve dissipated by lunchtime.