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Market Report
16 May
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Synairgen posts positive clinical trial data for SNG001

Shares of Synairgen caught a bid following the release of clinical trial results which appeared to show that its SNG001 formulation against Covid-19 might lower the risk of severe disease or death in the most at risk patients.

16 May
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Tuesday preview: UK employment, Vodafone in focus

The market spotlight on Tuesday will be on UK employment with economists keen to see whether the labour market remains tight and how well - given the ongoing cost-of-living crisis - wage growth is holding up.

16 May
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Europe close: Stocks end on mixed note amid recession concerns

European shares recovered from early selling but nevertheless finished on a mixed note following very weak industrial production and retail sales figures from China spooked investors worried about a global economic slowdown.

16 May
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US close: Dow Jones narrowly extends gains

Wall Street stocks closed mostly lower on Monday ahead of some key retail data and earnings slated for later in the week.

16 May
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London close: Stocks finish higher despite economic sentiment

London stocks managed a positive start to the week on Monday, reversing earlier losses despite ongoing concerns for the global economy after disappointing data from China and warnings the US could be headed for recession.

16 May
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Director dealings: Energean non-exec makes £1.35m sale, Gear4music CEO invests

Musical instruments and equipment retailer Gear4music was at the top of the list of director buys on Monday, after its chief executive officer spent over £90k on shares.

16 May
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FTSE 100 movers: Phoenix Group boosted by upgrade; Aviva slumps

London’s FTSE 100 was up 0. 3% at 7,442. 61 in afternoon trade on Monday.

16 May
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Broker tips: Kainos, Boohoo, Centrica

Analysts at Berenberg downgraded software outfit Kainos from 'buy' to 'hold' on Monday, stating the firm was now "stuck in an awkward spot".

16 May
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US open: Major indices trade lower at the bell

Wall Street stocks opened lower on Monday ahead of some key retail data and earnings slated for later in the week.

16 May
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FTSE 250 movers: Kainos hit by downgrade; Centrica cashes in

The FTSE 250 was down 0. 16% at 19,889. 05 at 1520 BST.

16 May
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Deutsche Bank and JP Morgan lower their target prices for Rolls Royce

Analysts at Deutsche Bank and JP Morgan lowered their target prices for Rolls Royce following medium-term guidance from the aerospace engineer.

16 May
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Petropavlosk unable to pay coupon on $500m bond

Petropavlovsk shares tumbled on Monday after the gold miner said it was unable to pay the coupon due on 14 May of around $12. 36m in respect of a $500m bond issued in 2016.

16 May
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New York Empire State manufacturing index unexpectedly falls

The New York Empire State manufacturing index surprisingly fell to -11. 6 in May, down from 24. 6 in April to miss market expectations for a reading of 17.

16 May
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Carlyle to buy ManTech in $4.2bn deal

US buyout firm Carlyle has agreed to buy ManTech, a provider of technologies and solutions for national security programs, in a $4. 2bn deal.

16 May
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JetBlue Airways launches hostile takeover bid for Spirit Airlines.

US carrier JetBlue Airways has launched a hostile all-cash takeover bid for rival Spirit Airlines.

16 May
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Europe midday: Stocks stay in the red as China slowdown worries hits sentiment

European shares trimmed early losses slightly at midday, but were still lower after very weak retail sales figures from China spooked investors worried about a global economic slowdown.

16 May
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Lekoil applies to AQSE Growth Market, to delist from AIM

Lekoil announced on Monday that it has applied for admission of its shares to trading on the Access segment of the AQSE Growth Market of the Aquis Stock Exchange.

16 May
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Experian acquires stake in Brazil's MOVA, Greggs posts double-digit LFL sales growth

London pre-open The FTSE 100 was being called to open 39. 8 points lower ahead of the opening bell on Monday after closing out the previous session 2. 55% firmer at 7,418. 15.

16 May
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Plus500 FY revenue and EBIT seen 'significantly ahead' of market expectations

Fintech outfit Plus500 said on Monday that trading had continued to be "very strong" in the second quarter, with the group growing increasingly confident of its full-year performance.

16 May
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Sirius Real Estate disposes of South London asset

Business parks operator Sirius Real Estate has agreed to the sale of an asset in Camberwell, London for £16. 0m, representing a net initial yield of approximately 2. 0%.