Market Report
Hot weather, higher prices see retail footfall decline
A hot July and higher price tags saw Brits making less visits to shops last month, according to fresh industry data on Friday, with total UK retail footfall decreasing 14. 2% over the pre-Covid comparative period in 2019.
US close: Stocks mixed as more Q2 earnings roll in
Wall Street stocks turned in a mixed performance on Thursday after snapping a two-day losing streak in the previous session.
London close: Stocks maintain gains after BoE confirms big rate hike
London stocks managed a positive finish on Thursday, after the Bank of England announced its biggest rate hike in 27 years in a bid to tackle surging inflation.
FTSE 100 movers: Glencore rallies; Rolls-Royce retreats
London’s FTSE 100 was up 0. 1% at 7,445. 79 in afternoon trade on Thursday.
Broker tips: Sage, Ergomed, Travis Perkins, Smith & Nephew
Analysts at Canaccord Genuity upgraded software firm Sage from 'hold' to 'buy' on Thursday, stating the group was "more resilient than you think".
US open: Stocks in the red as earnings continue to stream in
Wall Street stocks were in the red early on Thursday after major indices snapped a two-day losing streak in the previous session.
FTSE 250 movers: Centamin shines, Morgan Sindall slips
The FTSE 250 was up 0. 60% at 20,139. 57 at 1449 BST.
US initial claims come in higher than expected
Americans filed first-time jobless claims at an accelerated week-on-week clip in the seven days ended 30 July.
RBC Capital cuts Travis Perkins target price after Toolstation miss
RBC Capital Markets cut its price target on shares of Travis Perkins on Thursday following the company’s first-half results earlier in the week.
Supply issues continue hammering UK new car registrations
UK new car registrations fell further in July amid ongoing supply issues, with the Society of Motor Manufacturers and Traders reporting 9% fewer registrations year-on-year, to 112,162 units.
Canaccord Genuity upgrades Sage to 'buy'
Analysts at Canaccord Genuity upgraded software firm Sage from 'hold' to 'buy' on Thursday, stating the group was "more resilient than you think".
The Gym Group records 'strong' first half recovery
Fitness centre operator The Gym Group reported a “strong” financial recovery in its first half on Thursday, with group adjusted EBITDA less normalised rent swinging to £17m from a loss of £8. 1m year-on-year.
Bank of England makes biggest rate hike since 1995
The Bank of England announced its biggest rate hike on Thursday since 1995 in the face of surging inflation, as it warned of a long recession.
Europe midday: Shares up as BoE lifts interest rates to 1,75%
European stocks made gains at midday on Thursday despite the biggest rise in UK interest rates since 1995, and growing tensions between the US and China.
US pre-open: Futures trade higher after major indices snap two-day losing streak
Wall Street futures had stocks opening higher ahead of the bell on Thursday after major indices snapped a two-day losing streak in the previous session.
London midday: FTSE maintains small gains as BoE lifts rates to 1.75%
London stocks were still a touch higher by midday on Thursday after the Bank of England announced its biggest rate hike since 1995 as it looks to tackle surging inflation.
Asia report: Stocks rise as investors move on from Pelosi visit
Stock markets in Asia were in the green on Thursday, with technology plays in Hong Kong back in focus after US House Speaker Nancy Pelosi departed from a geopolitically hot visit to Taiwan.
ConvaTec confirms guidance after strong H1 revenue growth
ConvaTec reported “strong” revenue growth in its first half on Thursday, up 3. 6% on a reported basis to $1. 05bn, 8% on a constant currency basis, and 6. 4% on an organic basis, with “positive performances” across all of its divisions.
Berenberg initiates coverage on Ergomed at 'buy'
Analysts at Berenberg initiated coverage on biopharmaceutical industry services provider Ergomed at 'buy' on Thursday, stating the group was "perfectly positioned".
Petrofac consortium awarded $300m Algeria contract
Petrofac said on Thursday that its consortium with Genie Civil et Batiment (GCB) has been provisionally awarded an engineering, procurement and construction contract with Sonatrach for the Tinrhert EPC2 Development Project in Algeria.