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JP Morgan cuts Drax target price but says shares are 'oversold'
Analysts at JP Morgan reiterated their 'overweight' stance on shares of Drax, telling clients that markets were apparently discounting too steep a drop in wholesale electricity power prices and overlooking the company's resilience in the face of the Covid-19 pandemic.
Europe close: Stocks finish sharply lower amid losses for insurance and auto firms
Stocks finished deep in the red amid media coverage of warnings from multiple hedge fund bosses over preceding days who said that stocks around the world were overextended and ripe for a correction.
Friday preview: China data, William Hill in focus
The economic calendar for the last session of the week is brimming with top-tier economic releases from all the major jurisdictions outside of the UK.
US import prices drop sharply in April
Import prices in the US crashed during April amid a steep drop in energy costs.
Weekly US jobless claims fall by less than expected
Significantly more jobs were lost in the US during the previous week than economists had anticipated.
Europe midday: Stocks drop as investors' concerns of Covid-19 impact grow
Stocks are deep in the red come midday amid media coverage of warnings from multiple hedge fund bosses over preceding days who said that stocks around the world were overextended and ripe for a correction.