Market News

Broker tips: NEX Group, N Brown, Rio Tinto

19/10/2017 17:08

(ShareCast News) - NEX Group was under the cosh after RBC Capital Markets cut the stock to 'underperform' from 'sector perform'.

BP chairman to resign, search for successor underway

19/10/2017 15:46

(ShareCast News) - BP chairman Carl-Henric Svanberg has informed the company of his intention to resign, the group announced on Thursday.

Acacia Mining parent agrees deal with Tanzania government

19/10/2017 15:28

(ShareCast News) - Acacia Mining parent Barrick Gold has agreed for the Tanzanian government to take a 16% stake in the London-listed company's three mines in the country and to share revenues, which looks like resolving a months-long dispute.

Plexus sells wellhead equipment arm to TechnipFMC

19/10/2017 15:20

(ShareCast News) - Oil and gas engineering services business Plexus Holdings announced the sale of its wellhead exploration equipment and services business for Jack-Up applications to FMC Technologies, a subsidiary of TechnipFMC, on Thursday.

US open: Wall Street dips on anniversary of 1987 Black Monday crash

19/10/2017 15:12

(ShareCast News) - Wall Street's main averages came under selling pressure as traders booked some profits on the 30th anniversary of the 1987 Black Monday US stock market crash that saw the S&P 500 plummet 20% in a single session.

Carnival Corporation hikes quarterly dividend

19/10/2017 15:06

(ShareCast News) - Carnival Corporation has increased its quarterly dividend for the second time this year as management expressed confidence in earnings growth and cash flows.

VinaCapital Vietnam Opportunity Fund invests in Orient Commercial Bank

19/10/2017 14:57

(ShareCast News) - VinaCapital Vietnam Opportunity Fund, the flagship fund of VinaCapital, has invested approximately $11m in Orient Commercial Bank, for an interest of less than 5%, the company announced on Thursday.

Revenues showing 'good progress', says Zytronic

19/10/2017 14:46

(ShareCast News) - Zytronic issued a pre-close statement ahead of the announcement of the group's results for the year to 30 September on Thursday, which it expected to take place in December.

Apple shares fall after Watch connection issues in China

19/10/2017 14:34

(ShareCast News) - Shares of US tech giant Apple were suffering their biggest decline in the last month after Wall Street opened on Thursday amidst reports that the Apple Watch was suffering from service issues in China.

Friday preview: UK public finances; results from IHG, Acacia, Renishaw

19/10/2017 14:30

(ShareCast News) - UK public finances will come under the microscope on Friday 20 October, while later on US Fed Chair Janet Yellen speaks and there are results from InterContinental Hotels, Acacia Mining and Renishaw.

Philly Fed manufacturing index hits five-month high in October

19/10/2017 14:08

(ShareCast News) - Manufacturing conditions in the Philadelphia region unexpectedly improved in October, according to a survey released on Thursday.

Ryanair, Google and eDreams seal agreement to end legal proceedings

19/10/2017 14:03

(ShareCast News) - Low budget airline Ryanair together with Google and eDreams reached a settlement to end legal proceedings in the Irish High Court, concerning eDreams' online adverts on Google's AdWords platform, the companies confirmed on Thursday.

Vectura confirms launch of Seebri Neohaler in the US

19/10/2017 13:48

(ShareCast News) - FTSE 250 inhaler maker Vectura said on Thursday that Sunovion, the US licensee of the group's partner Novartis, has launched the twice-daily long acting muscarinic inhibitor Seebri Neohaler in the US.

US initial jobless claims drop to lowest since 1973

19/10/2017 13:18

(ShareCast News) - The number of Americans filing for unemployment benefits dropped more than expected last week, according to data from the Labor Department.

FTSE 250 movers: N Brown lifted by upgrade; IWG tanks on warning

19/10/2017 13:17

(ShareCast News) - London's FTSE 250 was down 0.8% to 20,093.25 in afternoon trade on Thursday as investors digested the latest UK retail sales data.

FTSE 100 movers: Unilever and WPP lead retreat as sector growth disappoints

19/10/2017 13:16

(ShareCast News) - The FTSE 100 retreated 0.29% in afternoon trading on Thursday as equity markets were seen affected by disappointing retail data.

Europe midday: Stocks lower as Catalan leader plays 'cat and mouse' with Madrid

19/10/2017 12:37

(ShareCast News) - A stronger euro despite the continuing political stand-off in Spain is weighing on stocks, even as investors wait on the results of the summit of European Union heads of state later in the day.

London midday: FTSE and pound both fall after weak retail numbers

19/10/2017 12:12

(ShareCast News) - London stocks and the pound both ebbed lower by midday on Thursday after disappointing UK retail sales data and with ongoing concerns about stalled Brexit negotiations.

Anglo Asian Mining receives visit by British embassy representatives in Azerbaijan

19/10/2017 12:09

(ShareCast News) - The second largest British investor in Azerbaijan, Anglo Asian Mining, disclosed on Thursday a recent visit by representatives of the British Embassy in Azerbaijan to its Gedabek gold, copper and silver mine.

The Property Franchise Group rejects Belvoir merger offer

19/10/2017 12:07

(ShareCast News) - The Property Franchise Group confirmed on Thursday that it has received a merger offer from Belvoir Lettings that it has rejected on the basis that it would not be in the best interests of its shareholders.

US pre-open: Stocks seen weaker as traders book profits

19/10/2017 12:06

(ShareCast News) - US futures pointed to a weaker open on Wall Street on Thursday, with investors set to book some profits following a record session the previous day which saw the Dow close above 23,000 for the first time.

NEX Group hit by RBC Capital downgrade

19/10/2017 12:06

(ShareCast News) - NEX Group was under the cosh after RBC Capital Markets cut the stock to 'underperform' from 'sector perform'.

Hammerson completes acquisition of French shopping centre

19/10/2017 12:04

(ShareCast News) - Hammerson has completed the acquisition of a French shopping centre for €81m (£72m) from a private vendor.

PCI-PAL continues compliance with Payment Card Industry Data Security Standard, secures new contract.

19/10/2017 11:19

(ShareCast News) - Customer-focussed secure payment solutions company PCI-PAL said it had received confirmation of its continuing compliance as Level 1 Service Provider with the Payment Card Industry Data Security Standard [PCI DSS] on Thursday, and secured a new international contract.

Kodal Minerals announces details of work programme to be completed in Mali

19/10/2017 11:12

(ShareCast News) - Kodal Minerals disclosed details of the work programme to be completed at the company's Bougouni lithium project in Southern Mali this season to expand known areas of mineralisation and conduct definition drilling over previously drilled areas.

HSBC upgrades N Brown after share pullback

19/10/2017 11:10

(ShareCast News) - N Brown is starting to deliver on its transformation plan and after an undeserved pullback in the shares after this month's interim results, HSBC upgraded the shares to a 'buy' rating from 'hold'.

HSBC and StanChart subject to probe into SA corruption

19/10/2017 11:07

(ShareCast News) - The Treasury has ordered the Financial Conduct Authority and the Serious Fraud Office to investigate whether HSBC and Standard Chartered are exposed to a corruption scandal in South Africa.

Barclays reinstates Wood at 'underweight' given hurdles to integration

19/10/2017 10:29

(ShareCast News) - Barclays Research has reinstated its 'underweight' recommendation for shares of Wood, pointing to the possible hurdles management will face in trying to reap the potential cost synergies from the combination of Wood Group and Amec Foster Wheeler.

Connemara acquires 100% of Hendrick Resources

19/10/2017 10:24

(ShareCast News) - Exploration company Connemara, with principal assets in gold and zinc exploration licences across Ireland, announced the acquisition of 100% of Hendrick Resources, a private Ontario-based company formed for the purpose of acquiring properties in Ireland.

Thursday broker round-up

19/10/2017 10:22

(ShareCast News) - Mediclinic: JPMorgan downgrades to Neutral with a target price of 733p.

Catalan president sends letter to Spanish PM - Translation

19/10/2017 09:47

(ShareCast News) - Esteemed President Rajoy,

UK retail sales weaker than forecast, adding to BoE doubts

19/10/2017 09:44

(ShareCast News) - UK retail sales fell more than expected last month, official figures confirmed on Thursday, further muddying the waters over whether the Bank of England will hike interest rates next month.

MySQUAR signs MOU for delivery of Wi-Fi services on Myanmar Railways

19/10/2017 09:38

(ShareCast News) - MySQUAR signed a Memorandum of Understanding to enter into partnership with relevant service providers for the financing and delivery of Wi-Fi services and digital content on Myanmar Railways, a state-owned agency operating the entire railway network in Myanmar, it emerged on Thur...

Interserve shares tumble to lows after another profit warning

19/10/2017 09:35

(ShareCast News) - Support services and construction group Interserve issued a second profit warning in as many months, as well as confirming it could breach banking covenants and had made further provisions for its exit from Energy from Waste contracts.

Asia report: Markets mixes on data, Kiwi dollar crashes

19/10/2017 09:30

(ShareCast News) - Markets in Asia finished mixed on Thursday, as investors were kept busy with a raft of economic data from China.

SigmaRoc gobbles up Topcrete and Allen Concrete

19/10/2017 09:29

(ShareCast News) - Buy-and-build construction materials group SigmaRoc announced the acquisition of Topcrete and its wholly owned subsidiary Allen Concrete on Thursday, for an initial cash consideration of £9m and a deferred conditional cash consideration of £3.5m, subject to certain adjustments in ...

LondonMetric offloads another two joint venture DFX properties

19/10/2017 09:24

(ShareCast News) - LondonMetric Property announced on Thursday that it has sold a further two DFS retail properties in Swindon and Swansea for £13.9m, on behalf of its DFS joint venture.

Europe open: All eyes on EU summit, Spain

19/10/2017 09:15

(ShareCast News) - Stocks have started the morning trading lower, with investors focused on the summit of European Union heads of state later in the day and events in Spain given the looming deadline for Catalan officials to make their intentions clear.

Nestle nudges restructuring dial higher as growth looks flat

19/10/2017 09:05

(ShareCast News) - Swiss food giant Nestle announced on Thursday that it was looking to expedite its restructuring programme aimed at improving margins as it expected organic growth to remain flat throughout its fourth quarter trading.

Ashtead advances on the back of upbeat United Rentals update

19/10/2017 09:05

(ShareCast News) - Equipment rental company Ashtead was boosted on Thursday as from US peer United Rentals' third-quarter earnings came in stronger than forecast.

Travis Perkins benefits from price inflation as sales volumes flat

19/10/2017 09:04

(ShareCast News) - Third quarter sales from Travis Perkins impressed investors in the builders' merchants but there remained some caution about the outlook.

Stobart confirms bumper dividend after ESL sale

19/10/2017 08:56

(ShareCast News) - Infrastructure and support services company Stobart Group posted its interim results for the six months to 31 August on Thursday, reporting a surge in underlying EBITDA to £131.8m, from £20.2m in the same period last year.

Spain expected to suspend Catalan autonomy as Puigdemont refuses to back down

19/10/2017 08:55

(ShareCast News) - Spanish prime minister Mariano Rajoy is expected to press ahead with Article 155 to suspend autonomy for Catalonia after regional president Carles Puigdemont refused to revoke his suspended declaration of independence.

LightwaveRF announces sale of Apple HomeKit Range on Apple Online store

19/10/2017 08:48

(ShareCast News) - The Apple HomeKit Range by LightwaveRF is now purchasable via the Apple Online store, the leading smart home solutions provider announced on Thursday.

IWG warns on profits as market weakness continues

19/10/2017 08:46

(ShareCast News) - Flexible workspace provider IWG updated the market on its current trading on Thursday, reporting that the previously-anticipated sales improvement in the third quarter from the increase experienced in sales activity was weaker than expected, which resulted in a pause in the recove...

New Zealand's lurch left sends Kiwi dollar crashing

19/10/2017 08:28

(ShareCast News) - The New Zealand dollar crashed on Thursday, after it emerged that a socialist-populist coalition would be making up the country's next government.

PM May seeks to reassure EU citizens ahead of Brussels summit

19/10/2017 08:24

(ShareCast News) - Theresa May has reassured EU citizens living in the UK that protecting their rights and the rights of Britons in Europe is her number one priority in Brexit negotiations.

China GDP grows at steady clip in Q3, but economists anticipate slowdown

19/10/2017 08:16

(ShareCast News) - China's economy continued expanding at a steady clip last quarter, although some economists believed tighter economic policy was set to weigh on the pace of expansion.

London open: Stocks edge lower ahead of retail sales; Unilever drops on results

19/10/2017 08:11

(ShareCast News) - London stocks edged lower in early trade on Thursday despite positive cues from the US, as investors kept a watchful eye on Spain and looked ahead to the release of UK retail sales data and the first day of the EU summit.

Marshalls bolts on pre-cast concrete specialist CPM

19/10/2017 08:11

(ShareCast News) - Paving slabs and floor tiles maker Marshalls on Thursday agreed the bolt-on acquisition of pre-cast concrete manufacturer CPM Group for a total of £38.3m cash.

Rank Group digital revenues on the rise

19/10/2017 08:08

(ShareCast News) - British gaming services firm Rank Group grew its revenue 2% over the 16 weeks leading to 15 October thanks to a significant increase in its digital revenue business.

Rank Group digital revenues on the rise

19/10/2017 08:08

(ShareCast News) - British gaming services firm Rank Group grew its revenue 2% over the 16 weeks leading to 15 October thanks to a significant increase in its digital revenue business.

Domino's Pizza Germany's gobbles up Hallo Pizza

19/10/2017 08:08

(ShareCast News) - Domino's Pizza Group has snapped up Germany's largest pizza chain Hallo Pizza into its local franchise joint venture.

Rolet stepping down from LSE, reports solid third quarter

19/10/2017 08:03

(ShareCast News) - London Stock Exchange announced the departure of chief executive Xavier Rolet on Thursday, confirming he would leave the group by the end of December next year after nine years with the company.

HomeServe raises £125m to fund acquisition of US-based Dominion

19/10/2017 08:00

(ShareCast News) - HomeServe has raised gross proceeds of around £125m through the placing of 15.2m shares at 820p each to fund the agreed acquisition of some of the trade and assets of the home assistance cover business of US-based Dominion, a wholly owned subsidiary of Dominion Energy, which it sa...

Schroders nine-month AuM up 9%

19/10/2017 07:48

(ShareCast News) - Asset manager Schroders reported a jump in assets under management and administration in the first nine months of the year.

Rentokil Q3 revenue rises, full-year guidance unchanged

19/10/2017 07:37

(ShareCast News) - Rentokil reported a 13.7% rise in third-quarter ongoing revenue on Thursday as the company's pest control division performed well.

London pre-open: Stocks seen touch lower as investors eye Spain, EU summit

19/10/2017 07:36

(ShareCast News) - London stocks were set to open a little lower on Thursday despite new records in the US session, as investors keep a watchful eye on Spain and look ahead to the release of UK retail sales data and the first day of the EU summit.

Australian business increases turnover for Tristel

19/10/2017 07:34

(ShareCast News) - Infection protection and contamination control specialists Tristel increased turnover by 19% to £20.3m in its financial year ended 30 June.

SEGRO sees solid rental growth in third quarter

19/10/2017 07:28

(ShareCast News) - Property investment and development company SEGRO updated the market on its trading for the period from 1 July to 18 October on Thursday, reporting that it contracted £8.8m of new headline rent in the third quarter, including £3.8m in rent from existing space.

Thursday newspaper round-up: Low pay, Lloyds, Bombardier, BP

19/10/2017 07:27

(ShareCast News) - Britain's low pay culture traps people in poorly paid jobs and prevents them from escaping into full-time work with better pay, according to a major study by the government-backed body that tracks social mobility. Only one in six workers on low pay managed in the last 10 years to ...

Recurring revenue continues to rise at StatPro

19/10/2017 07:19

(ShareCast News) - Portfolio analytics service StatPro continued to increase its recurring revenue throughout its third quarter, bringing total revenue and profits bang on management expectations for the full year.

Unilever sales fall short but silver linings in emerging markets, cost savings

19/10/2017 07:15

(ShareCast News) - Sales growth from Unilever fell short of expectations for the third quarter, with turnover negative, with the consumer goods colossus generating only minimal volume growth for the sixth quarter in a row.

US close: Dow clears 23,000 mark as IBM surges

19/10/2017 00:08

(ShareCast News) - Gains for Big Blue on the back of its latest quarterly numbers pushed the Dow clear of the 23,000 point mark on Wednesday, with investors very much focused on the steady stream of corporate results coming out.

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