Market Report
Monday newspaper round-up: HSBC, pay gap, M&S, NMCN
HSBC has suspended a senior banker after he referred to climate crisis warnings as “unsubstantiated” and “shrill” during a conference speech that has since been denounced by the lender’s chief executive. Stuart Kirk, who has been HSBC’s head of responsible investing since last July, will remain suspended until the bank completes an internal investigation into the matter. - Guardian.
Europe close: Stocks jump led by Basic Resources and Banks
European stocks started the week on the front foot following the very volatile trading conditions seen over the preceding five-day stretch.
US close: Stocks claw back losses on tariff news
Major indices closed higher on Monday as the Dow Jones reclaimed some of its recent losses.
London close: Stocks take a breather after recent losses
London stocks closed firmly in positive territory on Monday, as investors brushed aside concerns about global growth and inflation for the moment.
JP Morgan upbeat on outlook for oil field services and exploration outfits
Analysts at JP Morgan sounded an upbeat note for European Union oil field services as well as oil and exploration names.
FTSE 100 movers: Kingfisher gains after results; Intertek hit by downgrade
London’s FTSE 100 was up 1. 5% at 7,497. 68 in afternoon trade on Monday.
Broker tips: Fevertree, Burberry
Analysts at Berenberg lowered their target price on drinks maker Fevertree from 2,250. 0p to 2,000. 0p on Monday as it continued to assess downtrading risks.
Tortilla to buy rival Chilango for up to £2.75m
Mexican restaurant group Tortilla has bought rival Chilango from investment firm RDCP Group for up to £2. 75m in cash.
US open: Dow Jones looks to break eight-week losing streak
Major indices were mixed early on Monday as the Dow Jones was on track to reclaim some of its recent losses, while the Nasdaq looked set to continue on its downward trajectory.
FTSE 250 movers: Kainos, Moonpig in favour but Quilter slides
The FTSE 250 was up 1. 27% at 20,087. 35 at 1452 BST.
Euro area interest rates may no longer be negative by end of September, ECB's Lagarde says
Interest rates in the single currency area may well be out of negative territory by the end of September, the head of the European Central Bank said.
Expectations exceeded for Arecor's two lead clinical-stage programmes
Biopharmaceutical developer Arecor Therapeutics said in an update on Monday that it was making “huge strides” on its growth trajectory, focussed on its two lead clinical-stage programmes.
Plant Health Care's Brazil partnership progresses ahead of plan
Biological agricultural product developer Plant Health Care said on Monday that its partnership with Nutrien Soluções Agrícolas for its ‘Saori’ soybean seed treatment was progressing ahead of expectations in Brazil.
Malvern International enters five-year partnership with UEL
Malvern International has been appointed by UEL as the preferred supplier of student recruitment services in mainland China, it announced on Monday, establishing a strategic collaborative partnership for the next five years.
Union Jack reaches $6m revenue since Wressle restart
Onshore producer Union Jack Oil announced on Monday that “material landmark” net revenues of $6m (£4. 77m) have been achieved from the Wressle hydrocarbon development.
JPMorgan boosts 2022 earnings forecast
JPMorgan Chase boosted its 2022 profit guidance on Monday, on expectations it will benefit from higher interest rates.
Tavistock agrees to acquire asset research firm Hummingbird
Tavistock Investments has agreed to acquire the entire issued share capital of LEBC Hummingbird, it announced on Monday, for £3m in cash.
Quantum Blockchain surges on crypto mining progress
Quantum Blockchain Technologies updated the market on the current progress of its bitcoin mining research and development on Monday, reporting that it has moved from simulation testing and started live experimental mining on its platform using a standard version of the ‘SHA-256’ algorithm.
Deutsche Bank lowers target price on Burberry
Analysts at Deutsche Bank lowered their target price on fashion house Burberry from 2,280. 0p to 1,950. 0p on Monday but said the group appeared to be doing a good job of "navigating uncertain waters".
US pre-open: Dow futures in the green following eighth-straight losing week
US futures were in the green ahead of the bell on Monday as market participants look to try to reclaim recent losses following what has been an extended and relentless sell-off on the Street.