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FTSE 100 movers: Landsec boosted by upgrade; JD Sports slumps
London’s FTSE 100 was flat at 7,612. 72 in afternoon trade on Monday.
SocGen to cut around 900 jobs at head office
Societe Generale confirmed on Monday that it plans to cut around 900 jobs at its head office in France as it looks to simplify its operations and improve efficiency.
JD Sports-backed Applied Nutrition preparing for £1bn London float - report
Applied Nutrition, a manufacturer of sports supplements part-owned by JD Sports Fashion, is reportedly beginning preparations for a £1bn London flotation.
Novo Holdings to buy US drug maker Catalent in $16.5bn deal
Novo Holdings, the controlling shareholder of Novo Nordisk, has agreed to buy US drug maker Catalent in a $16. 5bn cash deal.
London midday: Stocks maintain gains after UK services data
London stocks were still in the black by midday on Monday after better-than-expected UK services data, as investors mulled the latest comments from Federal Reserve chairman Jerome Powell.
UK services growth hits eight-month high in January
The UK services sector grew in January at its fastest pace in eight months, according to a survey released on Monday.
Morgan Stanley upgrades Landsec to ‘overweight’
Morgan Stanley upgraded its stance on Land Securities to ‘overweight’ from ‘equalweight’ on Monday and reiterated its ‘overweight’ rating on British Land as it pointed to stabilising property yields.
London open: Stocks gain as investors mull Powell comments
London stocks rose in early trade on Monday, as investors mulled the latest comments from Federal Reserve chairman Jerome Powell, who poured cold water on hopes of a rate cut in March.
JPM puts Kingfisher on 'negative catalyst watch', cuts price target
JPMorgan Cazenove cut its price target on Kingfisher on Monday to 180p from 190p as it placed the shares on ‘negative catalyst watch’ ahead of full-year results on 25 March.
China services sector grows less than expected - Caixin
Activity in China’s services sector grew less than expected in January, according to a survey released on Monday.
London pre-open: Stocks seen higher ahead of services PMI
London stocks were set to rise at the open on Monday as investors eyed the latest reading on the UK services sector.
Monday newspaper round-up: Tax-free shopping, Asda, Morrisons
The Treasury’s independent forecaster is to review the axeing of tax-free shopping for tourists, raising the possibility that a decision that leisure companies and retailers have blasted for deterring visitors and losing the UK billions in sales could be reversed. With a change of heart likely to be seen as a shot in the arm for struggling businesses, the Office for Budget Responsibility (OBR) is to examine the costs and benefits associated with Rishi Sunak’s 2020 decision to end the retail scheme when he was chancellor of the exchequer.