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FTSE 100 movers: Water companies rally; B&M hit by downgrade
London’s FTSE 100 was down 0. 4% at 8,243. 87 in afternoon trade on Friday.
StanChart planning to set up crypto trading desk - report
Standard Chartered is reportedly setting up a trading desk for Bitcoin and Ether, making it one of the first global banks to enter spot cryptocurrency trading.
London midday: Stocks fall as investors mull services data
London stocks had fallen into the red by midday on Friday as data showed that growth in the UK service sector unexpectedly slowed in June as uncertainty around the election weighed on business.
JPMorgan lifts BAE Systems price target, points to ‘exciting’ list of potential new contracts
JPMorgan Cazenove lifted its price target on BAE Systems on Friday to 1,500p from 1,400p as it pointed to an exciting list of potential new contracts.
Morgan Stanley downgrades B&M to ‘underweight’
Morgan Stanley downgraded B&M European Value Retail on Friday to ‘underweight’ from ‘equalweight’ as it said like-for-like growth is slowing and it expects margins to contract year-over-year in FY25, which is a worse outlook than UK retail peers.
JPMorgan upgrades Severn Trent, United Utilities
JPMorgan Cazenove upgraded Severn Trent and United Utilities on Friday and placed both on ‘positive catalyst watch’ as it turned more positive on the UK water sector for the first time since it turned cautious in 2022.
London open: Stocks flat as investors mull retail sales; Britvic surges
London stocks were steady in early trade on Friday as investors mulled the latest retail sales data and consumer confidence reading.
UK retail sales rise more than expected in May
UK retail sales rose more than expected in May, according to figures released on Friday by the Office for National Statistics.
London pre-open: Stocks seen flat as investors mull retail sales
London stocks were set for a flat open on Friday as investors mulled the latest retail sales data and consumer confidence reading.
Friday newspaper round-up: Royal Mail, council tax, GSK
The owner of Royal Mail is facing a near £900m class action claim over accusations it abused its “dominant position” in the market for sending out bulk mail, including bank statements and weekly magazines. International Distribution Services (IDS) has been served with an £878m action by a newly formed company that said it represents an estimated 290,000 customers who claim they were overcharged as a result of Royal Mail’s behaviour. – Guardian.