Market Report
RBC Capital Markets hikes target price on Centrica
Analysts at RBC Capital Markets raised their target price on energy services firm Centrica from 90. 0p to 125. 0p on Monday, citing "exceptional" mid-term cashflow generation and free cash flow yields of roughly 20-25%.
Berenberg downgrades Kainos to 'hold', slashes target price
Analysts at Berenberg downgraded software outfit Kainos from 'buy' to 'hold' on Monday, stating the firm was now "stuck in an awkward spot".
US pre-open: Futures trade lower ahead of week of retail earnings, data
Wall Street futures were in the red ahead of the bell on Monday ahead of some key retail data and earnings slated for later in the week.
London midday: Stocks flat after weak Chinese data, US recession warning
London stocks were little changed come midday despite the release of disappointing Chinese data and warnings that the US could be headed into a recession.
Middle Eastern telco e& acquires 9.8% stake in Vodafone
Middle Eastern telecommunications firm e& has picked up an almost 10% stake in British mobile phone company Vodafone amid pressure for a shake-up of the business.
Greencoat UK Wind snaps up stake in Hornsea 1 offshore wind farm
Renewable infrastructure fund Greencoat UK Wind has agreed to acquire a 12. 5% stake in the Hornsea 1 offshore wind farm from Global Infrastructure Partners for approximately £400. 0m in cash.
Stocks 'set to recover from here', JP Morgan says
Equities are likely to "recover from here" as long as a recession does not ensue, not least now that the Federal Reserve has reached "peak hawkishness", said strategists at J. P. Morgan.
Dignity taps Kate Davidson for CEO job
Funeral care provider Dignity revealed on Monday that chief executive Gary Channon will stand down from the role following the group's annual general meeting on 9 June.
Great Portland Estates acquires Central London office building
Property development and investment firm Great Portland Estates has acquired the long leasehold interest of a currently vacant Central London office building at 6/10 St Andrew Street for £30. 0m.
London open: Stocks fall as China data sparks concerns
London stocks edged lower in early trade on Monday as disappointing Chinese data added to concerns about a global slowdown.
Chinese economy slows sharply in April as Covid-19 restrictions bite
China's economy slowed much more sharply than anticipated last month as Covid-19 mobility restrictions hampered growth, piling the pressure on policymakers in Beijing - right up to the top according to some accounts.
Made.com downgrades guidance amid challenging trading, shares slide
Furniture retailer Made. com downgraded its full-year guidance on Monday as it said trading has been more challenging than expected at the start of the year, and announced the appointment of a new chief financial officer.
Europe opens: Shares slip after weak China data
European shares fell at the open Monday, with French and German stocks losing up to 1% each, after very weak retail sales figures from China spooked investors worried about a global economic slowdown.
Asia report: Stocks mixed after disappointing data from China
Stocks were mixed in Asia on Monday, with fresh data out of China missing expectations for April as the country’s ‘zero-Covid’ policy pummelled its economic activity.
Ryanair narrows losses, expects return to profitability in FY23
Budget airline Ryanair posted a narrowing of its full-year losses on Monday as it said it expects to return to profitability in FY23.
Experian acquires controlling stake in Brazilian fintech
Credit reference agency Experian has agreed to acquire a 51% stake in Brazilian fintech group MOVA Sociedade de Empréstimo entre Pessoas as part of a BRL 40. 0m (£6. 45m) cash deal.
Monday newspaper round-up: BrightHouse, City regulations, National Grid
Administrators for the collapsed rent-to-own firm BrightHouse, which specialised in loans for big-ticket items such as fridges and sofas, have warned they will not have enough money to compensate thousands of customers who were left with unaffordable debts. The latest report from the accountants Grant Thornton, which is managing the administration, shows a plan to set aside £600,000 for payouts to customers who may have been mis-sold expensive loans by BrightHouse has been scrapped.
London pre-open: Stocks to fall on weak China data
London stocks were set to fall at the open on Monday following the release of disappointing Chinese data.
Empire reports drilling results from Eclipse Gold Project
Empire Metals announced the assay results of the diamond drill programme at the Eclipse Gold Project in Western Australia on Monday.
Litigation Capital to finance health records action against Google
Dispute financier Litigation Capital Management has entered into a litigation finance agreement for a new representative claim, it announced on Monday.