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London stocks were set for a steady open on Tuesday following healthy gains in the previous session, as investors eye this week's Jackson Hole Symposium.
BHP on Tuesday posted its best full year figures for five years and handed out a record dividend as it cashed in on higher commodity prices.
London open The FTSE 100 is expected to open 12 points higher on Tuesday, having closed up 1.02% at 7,189.65 on Monday.
Specialist engineering company IMI has announced the proposed acquisition of US valve and flow control products manufacturer PBM for $85m (£70.3m).
The rise of nationalism and governments that interfere in markets pose a threat to the global economic system, the boss of BHP, the world’s biggest mining company, has warned. Despite announcing a 124% rise in profits to $US8.31bn (£6.84bn), helped by booming iron ore sales to China, Andrew Mackenzie said on Tuesday that there were “a number of things abroad” that were causing concern for the Anglo-Australian behemoth. – Guardian
London stocks edged higher in early trade on Tuesday following healthy gains in the previous session.
Wall Street finished in the green on Monday, as investors reacted to news from the weekend that the Commerce Department would grant Chinese telco giant Huawei a further 90-day reprieve from a prohibition on US companies trading with it.
Wood Group said on Tuesday that it swung to a first-half profit as it announced the sale of its nuclear business for £250m in cash, which it will use to reduce debt.
Shares of Greene King surged on Monday as the pub group agreed to be bought by a subsidiary of CK Asset Holdings, the flagship of the CK Hutchison Group, for 850p a share in cash.
Sterling traded slightly on the back foot at the start of the week as the US dollar continued to grind higher amid 'market chatter' regarding the prospect of easier monetary policy in China and the euro area in the near future.
Markets' focus on Tuesday will shift to Rome, where Prime Minister Giuseppe Conte is due to deliver a speech to the country's Senate, possibly ahead of a no-confidence vote against him following League leader Matteo Salvini's decision to call an end to the current coalition government with his rivals from the Five Star Movement.
London stocks finished higher on Monday, underpinned by hopes of further stimulus from central banks.
Metro Bank revealed on Monday that former chairman Vernon Hill's wife Shirley had acquired 100,000 ordinary shares in the London-listed challenger bank.
The coalition agreement holding the Italian government together was set to collapse after League party leader and Italian Deputy Premier Matteo Salvini's partners reacted to his push for power.
Strength in energy futures helped offset weakness in metals and agricultural futures at the start of the week amid more positive news headlines on global trade and speculation of further policy easing by several of the world's major central banks.
Analysts at Berenberg raised their target price on respiratory protection equipment maker Avon Rubber from 1,650p to 1,800p on Monday, stating that its acquisition of 3M's ballistic-protection business and rights to the Ceradyne brand had been the deal it was "waiting for".
Stocks gained on the back of more positive news headlines around the US-China trade talks and speculation around further central bank stimulus in the pipeline.
After a "tactical correction" in August, stocks should resume their uptrend although a peak for the current bull market in stocks in summer 2020 is possible, said strategists at JP Morgan.
London's FTSE 250 was up 0.8% at 18,969.55 in afternoon trade on Monday amid growing central bank stimulus hopes.
London's FTSE 100 was up 1.1% at 7,194.47 in afternoon trade on Monday amid renewed optimism about Sino-US trade relations and hopes of central bank stimulus.
Avon Rubber: Berenberg reiterates buy with a target price of 1,800p.
London stocks were still in the green by midday on Monday, underpinned by hopes of further stimulus from central banks.
Analysts at RBC Capital Markets slightly trimmed their target price for shares of insurer Standard Life Aberdeen from 210.0p to 205.0p on Monday, noting that institutional net flows tended to be driven by the firm's three-year track record, which remains weak.
Mining and development company Atalaya Mining announced that the expansion project to 15 million tonnes per annum has reached full mechanical completion on Monday.
The US Department of Commerce will extend its temporary general licence for Chinese telecommunications equipment giant, Huawei, for another 90 days.