Market News

Capital Economics sees limited upside for FTSE 100 in 2017 (and next)

23/06/2017 19:15

(ShareCast News) - The UK economy's performance will continue to exceed forecasts but multiple headwinds will just about brake any further gains in the FTSE 100 in 2017, analysts at one of the City's top research shops said.

US oil rig count keeps climbing, Baker Hughes says

23/06/2017 18:57

(ShareCast News) - The number of oil rigs in operation in the US continued to climb last week, increasing by 11 to 758, according to the results of the most widely-followed survey tracking them.

FX round-up: Sterling gains on dollar thanks to UK policy hawks coming to fore

23/06/2017 17:48

(ShareCast News) - Sterling managed Friday gains on the US dollar thanks to UK monetary policy hawks coming to the fore in recent days, but was otherwise down against a raft of commodity currencies.

US open: Stocks edge higher at the end of the week

23/06/2017 17:38

(ShareCast News) - Gains for steel and biotech shares saw Wall Street edge higher amid better than expected economic data and some dovish Fedspeak.

Price pressures grow in US in June, PMIs show

23/06/2017 16:48

(ShareCast News) - Private sector firms in the US continued to record a solid rate of expansion amid signs that economic growth might pick up again, the results of a widely-followed survey showed.

London close: FTSE labours through Friday as sterling gains on underwhelming dollar

23/06/2017 16:30

(ShareCast News) - Stocks in London laboured through Friday as sterling made gains against an underwhelming US dollar a day after PM Theresa May met with European leaders in Brussels.

US central bank should wait and see how economy plays out, Fed's Bullard says

23/06/2017 16:30

(ShareCast News) - The president of the Federal Reserve bank of St.Louis joined those rate-setters who preferred to defer the next interest rate hike.

Avingtrans gets extension on possible Hayward Tyler bid

23/06/2017 16:26

(ShareCast News) - Hayward Tyler updated the market on its discussions with Avingtrans on Friday, regarding the possible offer by Avingtrans for the company as announced on 31 March.

BMR raises £0.35m as Kabwe plant construction progresses

23/06/2017 16:24

(ShareCast News) - BMR Group announced on Friday that Peterhouse Corporate Finance had raised £0.35m - before expenses - by way of a placing of 9,333,333 new ordinary shares of 1p each in the capital of the company, at 3.75p per share.

27 EU member states to vie for two London-based agencies

23/06/2017 16:24

(ShareCast News) - The EU have officially launched the competition between 27 member states to decide which will host the London based European Medicines Agency and the European Banking Authority

US new home sales beat forecasts in May, prices jump

23/06/2017 16:08

(ShareCast News) - Activity in America's residential real estate market continued to hum along at a solid pace last month, the latest official revealed, amid sharp price increases.

McDonald's teams up with Uber to trial McDelivery service in UK

23/06/2017 16:08

(ShareCast News) - Fast food giant McDonald's will now be able to bring your Big Mac directly to your sofa - as it trials a new UK delivery service in partnership with Uber.

Plus500 continues share buyback scheme apace

23/06/2017 15:59

(ShareCast News) - Online trading service provider Plus500 continued its share buyback programme as announced on 2 June this week, confirming the acquisition of 17,500 ordinary shares of ILS 0.01 each in the capital of the company on 22 June at a price of 553.30p per share.

Commodities: Safe-haven gold likely to remain supported going forward

23/06/2017 15:44

(ShareCast News) - Gold is front and centre on traders' charts with some picking the safe-haven asset will remain supported going forward thanks to a platter of political risk in both UK and Washington, as well as the global oil glut.

SolGold Toronto listing application gets conditional approval

23/06/2017 15:40

(ShareCast News) - SolGold advised the market on Friday that the listing committee of the Toronto Stock Exchange (TSX) had conditionally approved the company's application to list SolGold on the TSX.

Flowtech Fluidpower pays nearly £2m for Hi-Power group

23/06/2017 15:22

(ShareCast News) - Specialist technical fluid power products supplier Flowtech Fluidpower announced the acquisition of Hi-Power, as well as the business and certain assets of Hi-Power Hydraulics on Friday.

Citizens from EU countries will be able to stay reiterates May

23/06/2017 14:54

(ShareCast News) - Prime Minister Theresa May defended her proposals regarding the future rights of EU citizens in the UK.

FTSE 250 movers: Ascential underpinned by Peel Hunt upgrade; Domino's tanks

23/06/2017 14:51

(ShareCast News) - London's FTSE 250 was up 0.2% to 19,696.73 in afternoon trade.

FTSE 100 movers: ITV boosted by Morgan Stanley upgrade; BAE hit by downgrade

23/06/2017 14:51

(ShareCast News) - London's FTSE 100 was flat at 7,437.62 in afternoon trade.

Blur Group warns shareholders as it seeks urgent funding

23/06/2017 14:50

(ShareCast News) - Online B2B marketplace provider Blur Group updated the market on Friday, confirming that its rate of cash burn had stayed "broadly constant" with the $0.9m-$1m seen in the final two quarters of 2016.

Donald Tusk says UK rights proposal 'below expectations'

23/06/2017 14:48

(ShareCast News) - European Council President Donald Tusk has said Theresa May's offer to protect EU citizens' rights post-Brexit is "below our expectations".

Glencore sweetens offer for Rio's thermal coal assets

23/06/2017 14:36

(ShareCast News) - Glencore has bumped up its offer for Rio Tinto's interest in Coal & Allied Industries (C&A) to $2.68bn in cash plus a coal price-linked royalty, from a previous offer of $2.55bn.

Ncondezi Energy raises $0.6m from existing lenders and management

23/06/2017 14:01

(ShareCast News) - Ncondezi Energy announced on Friday that it raised an additional $582,000 from existing lenders and senior management, to be used to fund its new partner search and to provide working capital for the group.

Broker tips: Centrica, Royal Dutch Shell, Domino's Pizza

23/06/2017 13:27

(ShareCast News) - JP Morgan Cazenove lifted Centrica to 'neutral' from 'underweight' and upped the price target to 205p from 180p, noting that the worst case scenario was now off the table after the Queen's Speech left out any mention of an energy price cap.

Week ahead: Heavy flow of data expected in all geographies

23/06/2017 13:22

(ShareCast News) - A steady flow of economic data in almost all the main geographical regions will keep investors on their toes over the coming week.

Red Rock Resources agrees to fund Steelmin

23/06/2017 13:00

(ShareCast News) - Natural resource development company Red Rock Resources announced on Friday that it entered into financing agreements under which it would fund Steelmin to complete the refurbishment and recommissioning of a ferrosilicon smelter in Jajce, Bosnia, and acquire an interest in Steelmi...

Europe midday: Stocks at session lows after PMI data

23/06/2017 12:18

(ShareCast News) - Stocks were near their worst levels of the session, following a weaker-than-expected reading on the state of the euro area manufacturing and services sectors, although analysts were sanguine.

London midday: Stocks push lower as pound gains ground; oil in focus

23/06/2017 11:46

(ShareCast News) - London stocks had extended losses by midday on Friday - the first anniversary of the Brexit vote - as the pound ticked higher after Theresa May's meeting with EU leaders in Brussels.

Sydney to erect barricades to prevent a likely vehicle attack

23/06/2017 11:32

(ShareCast News) - Sydney police said on Friday they will deploy concrete barricades in the city to prevent the risk of a vehicle attack by extremists.

French GDP edges past forecasts in first quarter of 2017

23/06/2017 11:12

(ShareCast News) - A sharp pick-up in gross capital formation helped to offset a slowdown in household spending in France at the start of the year.

Asia report: Markets mixed as China looks to crack down on banks

23/06/2017 10:59

(ShareCast News) - Markets in Asia finished mixed on Friday, with traders growing concerned over reports that banking regulators in China were looking to quiz banks over their offshore asset investments.

Italian industrial orders slip in April

23/06/2017 10:52

(ShareCast News) - Italian industrial orders slipped in April, with demand from abroad weakest.

Reach4entertainment's David Stoller to retire as executive chairman

23/06/2017 10:49

(ShareCast News) - AIM-listed media and entertainment marketing company Reach4entertainment Enterprises has announced the retirement of David Stoller as executive chairman with effect from 30 September.

Fridge fire started Grenfell blaze as police confirm cladding failed safety tests

23/06/2017 10:36

(ShareCast News) - The Grenfell Tower blaze which has left at least 79 people dead was the result of a fridge fire, Metropolitan Police confirmed on Friday.

US pre-open: Stocks seen a little weaker ahead of data, Fedspeak

23/06/2017 10:23

(ShareCast News) - US futures pointed to a slightly weaker open on Friday as investors eyed a slew of data including new home sales, manufacturing figures and the Baker Hughes oil rig count.

Animalcare to gobble up Ecuphar

23/06/2017 10:16

(ShareCast News) - Generic veterinary medicines and identification products and services supplier Animalcare Group announced on Friday that it had entered into a conditional share purchase agreement to acquire the entire issued share capital of Ecuphar.

Trinity Exploration progresses production growth strategy

23/06/2017 10:05

(ShareCast News) - Independent Trinidad and Tobago-focussed exploration and production company Trinity Exploration was holding its annual general meeting in Edinburgh on Friday morning, with executive chairman Bruce Dingwall updating shareholders on the firm's recent operations.

IHS Markit euro area composite PMI weakens in June

23/06/2017 09:57

(ShareCast News) - A key barometre of the euro area economy retreated, weighed down by weakness in services sector activity.

Gap between home price growth in South and rest of UK to close, Hometrack says

23/06/2017 09:52

(ShareCast News) - Annual average UK city house price growth slowed in May, but increased during the last three months, the results of a survey showed.

Credit Suisse boosts 'Blue Sky' target price on meaner, leaner, fitter Shell

23/06/2017 09:49

(ShareCast News) - A "meaner, leaner and fitter" Royal Dutch Shell may emerge as soon as the outfit's second quarter results, with positive implications for its dividend, said analysts at Credit Suisse as they added the shares to their European Focus List.

Friday broker round-up

23/06/2017 09:28

(ShareCast News) - Bae Systems: JPMorgan downgrades to Neutral with a target price of 685p.

JPMorgan upgrades Centrica as energy price cap now looks unlikely

23/06/2017 08:56

(ShareCast News) - JP Morgan Cazenove lifted Centrica to 'neutral' from 'underweight' and upped the price target to 205p from 180p, noting that the worst case scenario was now off the table after the Queen's Speech left out any mention of an energy price cap.

Trump denies obstruction of justice, rejects tape claims

23/06/2017 08:28

(ShareCast News) - Donald Trump has strongly denied allegations that he has obstructed the FBI investigation into links between his campaign and Russia, and also said he does not have tapes of his conversations with former director of the agency, James Comey.

Domino's shares not so tasty as Berenberg highlights mounting risks

23/06/2017 08:26

(ShareCast News) - Shares in Domino's Pizza were looking less than tasty on Friday after Berenberg cut its stance on the stock to 'hold' from 'buy' and chopped the price target to 325p from 400p, saying near-term risks were mounting.

London open: Stocks in the red as pound ticks up in quiet trade

23/06/2017 08:24

(ShareCast News) - London stocks fell in early trade on Friday - the first anniversary of the Brexit vote - as the pound ticked higher, with little due in the way of market-moving news and a quiet corporate calendar.

CMA to take action against online gambling companies

23/06/2017 08:11

(ShareCast News) - The Competition and Markets Authority announced on Friday that it will be taking action against online gambling companies it suspects of breaking consumer law.

Weakened May throws EU citizens rights on table in opening Brexit gambit

23/06/2017 08:06

(ShareCast News) - UK Prime Minister Theresa May used the three million EU citizens living in Britain as her opening gambit in Brexit negotiations, offering them a "settled status" if they had been in the country for five years.

Crystal Amber says Hurricane Energy has weighed on its share price

23/06/2017 08:03

(ShareCast News) - AIM-listed Crystal Amber Fund said on Friday that the recent drop in its share price primarily reflects the decline in the shares of its largest investment, Hurricane Energy.

Saudis tell Qatar to shut down al-Jazeera as part of deal to end blockade

23/06/2017 08:01

(ShareCast News) - Saudi Arabia and other Gulf states on Friday demanded the closure of broadcaster al-Jazeera, among other conditions, in return for the lifting of its trade and diplomatic sanctions.

Randall & Quilter agrees sale of R&Q Managing Agency

23/06/2017 07:55

(ShareCast News) - AIM-listed Randall & Quilter has agreed to sell Lloyd's managing agency, R&Q Managing Agency, to Boston-based medical professional liability insurance provider Coverys.

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