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Friday preview: Berkeley's reports and Sainsbury's hits Argos deadline
As well as the deadline for Sainsbury's to make a further bid to acquire Argos owner Home Retail, Friday also sees housebuilder Berkeley Group’s full year interims amid the slowdown in the prime central London property market.
South Africa's central bank unexpectedly hikes rates
South Africa’s central bank unexpectedly tightened its monetary policy on Thursday.
Index of leading US economic indicators rose slightly in February
A widely-followed gauge of the US economy moved slightly higher in February, which was consistent with a considerable moderation in the business cycle but not a near-term downturn, according to one of the country’s best-known think-tanks.
Results round-up
Full year pre-tax profits at fashion retailer Ted Baker rose 20. 3% to £58. 7m on the back of a 17% jump in revenue to £456. 2m from store expansions and a solid performance in retail and wholesale operations.
Broker tips: OneSavings Bank, UK housebuilders, InterContinental Hotels
OneSavings Bank’s shares surged on Thursday as Investec reiterated its ‘buy’ rating and target price of 380p after the company reported a jump in full year profits.
US current account deficit improves slightly in fourth quarter of 2015
A measure of the shortfall in America’s current account transactions with the rest of the world improved slightly at the end of 2015, mainly as a result of fewer oil imports, albeit by less than economists had expected.
Gulf Keystone says finance deal unlikely in near term
Gulf Keystone Petroleum was under pressure after it said the current low oil price environment and the political situation Iraq cast significant doubt on the group’s ability to continue as a going concern, although it posted a narrower loss for 2015.
Vernalis drops into red after investment in cough treatment
Shares in Vernalis sank to an 11-month low after the biotech company posted a half-year loss as its first prescription cough cold product, Tuzistra XR, launched during what has proved a very mild flu season in the USA.
Philly Fed manufacturing index turns positive in March
Manufacturing conditions in the Philadelphia region improved far more than expected in March, turning positive for the first time in seven months, according to the latest report from the Federal Reserve Bank of Philadelphia.
US initial jobless claims increase less than forecast
US initial jobless claims increased by 7,000 in the last week to 265,000, less than the 268,000 that had been forecast.
Bank of England votes unanimously to keep interest rates unchanged
The Bank of England voted unanimously to keep interest rates unchanged on Thursday, a move that was expected by analysts.
Europe midday: Stocks turn lower as euro gains ground against dollar
European stocks reversed opening gains to trade lower as the euro advanced against the dollar, which took a hit from the Federal Reserve’s dovish stance on Wednesday.
London midday: Stocks slide as BoE holds on interest rates
UK stocks reversed earlier gains on Thursday as the Bank of England decided to keep interest rates unchanged.
Lufthansa shares plunge as airline misses expectations
Lufthansa released forecasts of slightly higher profits in 2016, with cut-price competitors and falling average prices negating the effect of lower fuel prices.
Vectura receives support from Skyepharma shareholder
Vectura – which focuses on the development of pharmaceutical therapies for airways diseases – has received a letter of intent from a Skyepharma shareholder supporting the companies’ proposed merger.
Premier Farnell profits softer as forecast but outlook disappoints
Final results from Premier Farnell were largely in line with expectation but reminders of the unrelenting challenges ahead for the refocused electronics distributor left investors disappointed.
US pre-open: Stocks set for weaker open as Fed-fuelled rally fades
US stocks were set to open lower on Thursday, giving back gains fuelled by the Federal Reserve in the previous session.
OneSavings Bank delivers "extraordinary" returns consistently, says Investec
OneSavings Bank’s shares surged on Thursday as Investec reiterated its ‘buy’ rating and target price of 380p after the company reported a jump in full year profits.
Shell-Saudi Aramco to split US joint venture
Motiva Enterprises - a US-based joint venture between Royal Dutch Shell and the state-owned Saudi Arabian Oil Company (Saudi Aramco) - was looking to be split between the two partners, it was announced on Thursday.
Safestyle full year profit up, special dividend announced
Safestyle posted a rise in full year profit as revenue increased and the company announced a special dividend.