Latest News
FTSE 100 movers: Miners and banks slump but Imperial gains on upgrade
London’s FTSE 100 index was down 0. 8% to 6,260. 09 in afternoon trading, with miners pacing the decline.
Board reshuffle at Obtala Resources
Africa-focused agricultural and forestry business Obtala Resources announced a number of board changes on Monday, including a new chairman.
Saudi Aramco eyes $2trn IPO valuation
Saudi Arabia will float less than 5% of state oil giant Saudi Aramco, crown prince Mohammed Bin Salman has confirmed after approval by the kingdom's cabinet.
Analysts see scope for further rally in sterling versus New Zealand dollar
Sterling might be set to make gains against the New Zealand dollar, technical analysts at Forex. com said.
Market overview: Tribune Publishing soars on bid from Gannett
1324: Tribune Publishing up 62% on news of $815m bid from Gannett.
Broker tips: Imperial Brands, StanChart, Acacia Mining
Imperial Brands, formerly known as Imperial Tobacco, was a high riser on Monday as Goldman Sachs upgraded the stock to ‘buy’ from ‘neutral’ following recent underperformance.
Gannett offers to buy Tribune Publishing for $815m
Gannett Co, the owner of USA Today, has offered to buy the publisher of the Los Angeles Times and Chicago Tribune for $12. 25 per share in cash, valuing the company at around $815m.
Further BoJ stimulus unlikely in 2016, SocGen says
Further quantitative easing from the Bank of Japan in 2016 was not the most likely scenario instead, the second installment of Abenomics would require large fiscal stimulus measures, analysts at Societe Generale said.
Manufacturing output stable in latest quarter, CBI survey reveals
The manufacturing sector’s output was stable in the three months to April, according to the CBI’s quarterly Industrial Trends Survey on Monday.
PetroNeft avoids shareholder dispute with board restructure
Russia-focused oil and gas exploration and production company PetroNeft Resources managed to avoid a particularly fraught shareholder meeting on Monday, reaching agreement with its largest shareholder Natlata Partners to restructure its board.
Hansteen buys £5.6m of AIF units
FTSE 250 property investment company Hansteen Holdings has acquired a further 12. 4m units in the Ashtenne Industrial Fund from Nortrust Nominees Limited for £5. 6m in cash.
London midday: Oil and mining shares pull equities lower
London stocks were led lower by a slump in mining and oil producers on Monday as crude and copper prices fell.
Europe midday: Stocks in the red as German data disappoints
European stocks edged lower as oil prices retreated and investors digested a weaker-than-expected reading on German business confidence.
Action Hotels appoints Lindley as finance chief
Branded hotel owner, developer and asset manager Action Hotels brought some stability to its finance department on Monday, announcing the appointment of Andrew Lindley as its finance director.
German business confidence unexpectedly drops in April
German business confidence unexpectedly deteriorated in April, according to research from Munich-based research institute Ifo.
Oil price sees volumes, earnings shrink at Sterling Energy
Sterling Energy was bearing the brunt of the oil glut in its first quarter, reporting much lower production and earnings in an interim management statement on Monday.
Jersey Oil & Gas sees North Sea buys as FY losses narrow
Jersey Oil & Gas on Monday said it was confident of grabbing a “number” of North Sea acquisition targets in 2016 as it full-year pre-tax losses narrowed to £1. 4m from £44. 4m.
Vodafone's patient strategy paying off, Citi says
Vodafone's operational gearing was set to improve, boosting the cover for the firm's dividend payments starting from fiscal year 2018, Citi argued.
US pre-open: Stocks seen flat as investors eye Fed
US futures pointed to a broadly flat open on Monday as oil prices slid and investors looked ahead to the Federal Reserve rate announcement later in the week.